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Exploring Ethereum and Web3
This quiz tests your knowledge on the fundamentals of Ethereum and the Web3 ecosystem.
What is a smart contract?
A type of cryptocurrency
A self-executing contract with the terms directly written into code
A legal document that requires notarization
A traditional contract that is stored on paper
What is Ethereum primarily used for?
Social networking
Cryptocurrency transactions
Decentralized storage
Smart contracts
What does Web3 aim to achieve?
Faster internet speeds
Centralized control of data
User privacy and ownership
Improved user interfaces
Which of the following is a key feature of decentralized applications (dApps)?
Open-source code
Reliance on a central server
High transaction fees
Single point of failure
What is the primary benefit of using blockchain technology?
Enhanced security and transparency
Increased centralization
Higher transaction fees
Slower transaction speeds
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