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