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Crypto Quiz @RaRa
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What is the role of a cryptocurrency wallet?
Storing and managing digital assets
Storing physical currency
Sending and receiving emails
Managing social media accounts
What is the role of a smart contract in blockchain technology?
Verifying cryptocurrency transactions
Regulating cryptocurrency supply
Facilitating automated transactions
Ensuring network security
What is the role of a blockchain node in a decentralized network?
Validating transactions
Generating new coins
Executing smart contracts
Storing private keys
Which of the following is a commonly used consensus mechanism in cryptocurrencies?
B) Proof-of-Transaction (PoT)
A) Proof-of-Stake (PoS)
D) Proof-of-Mining (PoM)
C) Proof-of-Identity (PoI)
Which of the following is a feature of a decentralized exchange (DEX)?
A) Central authority controlling transactions
C) Higher transaction fees compared to centralized exchanges
D) Only trades Bitcoin
B) Peer-to-peer trading without intermediaries
What is the purpose of mining in a Proof-of-Work (PoW) blockchain?
B) To create new wallets for users
D) To hack other blockchains
C) To validate and add new transactions to the blockchain
A) To decrease the supply of the cryptocurrency
What is the purpose of a nonce in cryptocurrency mining?
B. To create a new block
C. To solve the cryptographic puzzle
A. To verify transactions
D. To secure the network
What is the maximum supply of Bitcoin (BTC)?
B) 25 million
A) 21 million
D) 28 million
C) 18 million
What is the concept of 'gas' in the Ethereum blockchain?
D. Decentralized exchange
A. Fuel for transactions
E. None of the above
B. Digital currency
C. Smart contract
What is the primary function of a blockchain in cryptocurrency?
A) To store personal data of users
C) To provide a secure, immutable ledger of transactions
D) To control the price of cryptocurrencies
B) To enable reversible transactions
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