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