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