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Web3 Fundamentals
Test your knowledge on the basics of Web3 and its underlying technologies.
What are smart contracts?
Self-executing contracts with the terms directly written into code
Traditional paper contracts
Contracts that require a notary
Contracts written in legal language
What is a consensus mechanism in blockchain?
A process to validate transactions
A type of smart contract
A way to create dApps
A method to secure private keys
What is a token in the context of blockchain?
A physical coin used in transactions
A type of smart contract
A method of data storage
A digital representation of a unit of value
What is the difference between a public and a private blockchain?
Public blockchains are open to anyone, while private blockchains are restricted to specific users.
Public blockchains are faster than private blockchains.
Public blockchains do not use consensus mechanisms.
Private blockchains are always more secure than public blockchains.
What is a blockchain?
A web server
A type of database
A social media platform
A programming language
What is the role of miners in a blockchain network?
To create new blocks
To validate transactions
To develop smart contracts
To store data
What is a decentralized application (dApp)?
A mobile application
An application that runs on a peer-to-peer network
An application that is hosted on a cloud service
An application that runs on a single server
What is the purpose of a cryptocurrency wallet?
To create smart contracts
To facilitate blockchain governance
To mine new coins
To store and manage cryptocurrencies
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