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