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