Cryptocurrency Quiz

Cryptocurrency Quiz

Test your Cryptocurrency knowledge!

1 / 10

(True or False) DYOR stands for “Do Your Own Reviews”.

True

False

2 / 10

(Multiple Choice – Multiple correct answers) Which of the following steps are to consider while conducting DYOR? (Select all that apply)

Examining the team

Analyzing smart contracts

Checking the whitepaper

Checking the weather

3 / 10

(Multiple Choice – One correct answer) What consensus mechanism does Bitcoin rely on for transaction validation and network security?

Proof of Stake (PoS)

Delegated Proof of Stake (DPoS)

Proof of Work (PoW)

Practical Byzantine Fault Tolerance (PBFT)

4 / 10

(Multiple Choice – Multiple correct answers) What are some characteristics of Ethereum? (Select all that apply)

Enables developers to build and deploy smart contracts

Uses a proof of work consensus mechanism

Fosters a diverse ecosystem of innovations and connected Layer 2‘s

Interoperability with other blockchains enhances utility and usage

5 / 10

(True or False) Polkadot’s adaptable infrastructure allows seamless upgrades without hard forks.

True

False

6 / 10

(Multiple Choice – One correct answer) Who is the founder of Cardano?

Vitalik Buterin

Charles Hoskinson

Dr. Gavin Wood

Charlie Lee

7 / 10

(Multiple Choice – Multiple correct answers) What are some features of Polygon/MATIC? (Select all that apply)

Enhances the scalability of Ethereum for faster and cheaper transactions

Simplifies decentralized application development

Utilizes Ethereum’s security, while offering additional layers for protection

Supports Proof of Authority (PoA) consensus mechanism

8 / 10

(True or False) Litecoin operates on a centralized network.

True

False

9 / 10

(Multiple Choice – One correct answer) What was Polkadot’s original purpose when it was introduced in 2017?

To provide a scalable solution for Ethereum

To create a decentralized exchange platform

To introduce a new consensus mechanism, and to solve scalability and interoperability challenges

To compete with Bitcoin

10 / 10

(Multiple Choice – Multiple correct answers) There are some reasons why Litecoin is known as the “silver to Bitcoin’s gold”. What are the benefits of Litecoin? (Select all that apply)

Faster transaction speeds compared to Bitcoin, suitable for daily transactions

Cost-effective solution for transferring value across its network

Active dev community works on enhancing features and innovation

Built a strong reputation for its reliability & security, resulting in trust

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