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