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