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