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Web3 Fundamentals
Test your knowledge on the basics of Web3 and its underlying technologies.
What is the purpose of a cryptocurrency wallet?
To create smart contracts
To facilitate blockchain governance
To store and manage cryptocurrencies
To mine new coins
What is the role of miners in a blockchain network?
To create new blocks
To store data
To develop smart contracts
To validate transactions
What is a token in the context of blockchain?
A physical coin used in transactions
A method of data storage
A type of smart contract
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.
Private blockchains are always more secure than public blockchains.
Public blockchains do not use consensus mechanisms.
Public blockchains are faster than private blockchains.
What is a decentralized application (dApp)?
A mobile application
An application that is hosted on a cloud service
An application that runs on a peer-to-peer network
An application that runs on a single server
What is a blockchain?
A social media platform
A programming language
A web server
A type of database
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 type of smart contract
A process to validate transactions
A way to create dApps
A method to secure private keys
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