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