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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 traditional contract that is stored on paper
A self-executing contract with the terms directly written into code
A legal document that requires notarization
A type of cryptocurrency
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)?
Open-source code
High transaction fees
Reliance on a central server
Single point of failure
What is the primary benefit of using blockchain technology?
Enhanced security and transparency
Higher transaction fees
Slower transaction speeds
Increased centralization
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