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