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