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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?
User privacy and ownership
Faster internet speeds
Improved user interfaces
Centralized control of data
Which of the following is a key feature of decentralized applications (dApps)?
Reliance on a central server
Single point of failure
Open-source code
High transaction fees
What is the primary benefit of using blockchain technology?
Increased centralization
Enhanced security and transparency
Higher transaction fees
Slower transaction speeds
What is Ethereum primarily used for?
Social networking
Cryptocurrency transactions
Decentralized storage
Smart contracts
What is a smart contract?
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
A type of cryptocurrency
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