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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 mine new coins
To facilitate blockchain governance
To create smart contracts
To store and manage cryptocurrencies
What is a decentralized application (dApp)?
An application that is hosted on a cloud service
An application that runs on a single server
A mobile application
An application that runs on a peer-to-peer network
What are smart contracts?
Traditional paper contracts
Self-executing contracts with the terms directly written into code
Contracts that require a notary
Contracts written in legal language
What is a consensus mechanism in blockchain?
A method to secure private keys
A process to validate transactions
A type of smart contract
A way to create dApps
What is the difference between a public and a private blockchain?
Public blockchains do not use consensus mechanisms.
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 are faster than private blockchains.
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 blockchain?
A social media platform
A type of database
A programming language
A web server
What is a token in the context of blockchain?
A method of data storage
A type of smart contract
A physical coin used in transactions
A digital representation of a unit of value
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