đCRYPTO QUIZ PART -2
âïž1. What is the purpose of a cryptocurrency wallet?
a) To mine new cryptocurrencies
b) To exchange cryptocurrencies for fiat money
c) To store and manage your cryptocurrency holdings
d) To facilitate faster transactions on the blockchain
âïž2. What is the term for the process of verifying and adding new transactions to a blockchain?
a) Mining
b) Staking
c) Trading
d) Hacking
âïž3. Which cryptocurrency is often referred to as the "digital gold" and was the first cryptocurrency to be created?
a) Ethereum (ETH)
b) Ripple (XRP)
c) Bitcoin (BTC)
d) Litecoin (LTC)
âïž4. What consensus mechanism does Bitcoin primarily use to validate transactions and create new blocks?
a) Proof of Stake (PoS)
b) Delegated Proof of Stake (DPoS)
c) Proof of Work (PoW)
d) Proof of Authority (PoA)
âïž5. What is the maximum supply of Bitcoin that will ever exist?
a) 21 million
b) 1 billion
c) 100 million
d) 42 million
âïž6. What is a public key in cryptocurrency terminology?
a) A secret code used for encrypting transactions
b) A unique address for receiving cryptocurrencies
c) The password to access your cryptocurrency wallet
d) A special token used for ICOs
âïž7. Which cryptocurrency was created to facilitate fast and low-cost cross-border payments for banks and financial institutions?
a) Bitcoin (BTC)
b) Ethereum (ETH)
c) Ripple (XRP)
d) Cardano (ADA)
âïž8. What is the term for a cryptocurrency that is designed to maintain a stable value by being pegged to a traditional fiat currency?
a) Stablecoin
b) Altcoin
c) Token
d) Privacy coin
âïžAnswers :-
1. c) To store and manage your cryptocurrency holdings
2. a) Mining
3. c) Bitcoin (BTC)
4. c) Proof of Work (PoW)
5. a) 21 million
6. b) A unique address for receiving cryptocurrencies
7. c) Ripple (XRP)
8. a) Stablecoin
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