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