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