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