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Understanding Smart Contracts
Test your knowledge on smart contracts and their significance in the blockchain world.
What is a common use case for smart contracts?
Traditional banking
Social media management
Email marketing
Decentralized finance (DeFi)
Which blockchain platform is best known for pioneering the use of smart contracts?
Bitcoin
Litecoin
Ethereum
Ripple
What is one major advantage of using smart contracts?
They can be easily modified after execution
They are only used for financial transactions
They reduce the need for trust between parties
They require intermediaries like banks or lawyers
Which language is primarily used to write Ethereum smart contracts?
Solidity
Rust
Python
Java
What is a smart contract?
A legal agreement between two parties
A cryptocurrency wallet
A government-issued digital currency
A self-executing contract with the terms of the agreement written directly into code
What is one major advantage of using smart contracts?
They can be easily modified after execution
They are only used for financial transactions
They reduce the need for trust between parties
They require intermediaries like banks or lawyers
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