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