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Crypto Currency – Assessment

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Crypto Currency – Assessment

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✓ Silver Assessment
✓30 Questions in 15 Mins
✓ 90% to pass (27/30)
✓ Multiple Choice
✓ Fundamentals Silver Certificate

Time limit: 0

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Question 1 of 50
1. Question
What does “GPT” stand for in the term “GPT-4”?
- Generalized Programming Technique
- General Processor Technology
- Generative Pretrained Transformer
- Generic Processing Test
Question 2 of 50
2. Question
What is the process of creating new Bitcoin called?
- Mining
- Minting
- Manufacturing
- Printing
Question 3 of 50
3. Question
What is a public key in cryptocurrency?
- A key used to encrypt data
- A key used to decrypt data
- A key which is publicly available for everyone
- Both A and C
Question 4 of 50
4. Question
What is the smallest unit of Bitcoin called?
- Ether
- Satoshi
- Litecoin
- Ripple
Question 5 of 50
5. Question
What is the term for an online ledger where all transactions of a cryptocurrency are recorded?
- Blockchain
- Database
- Ledger
- Archive
Question 6 of 50
6. Question
What is a ‘hard fork’ in a blockchain?
- A software upgrade that is backward compatible
- A change to the blockchain protocol that makes previously invalid blocks/transactions valid
- A security measure that prevents data alteration
- A software error that leads to a network crash
Question 7 of 50
7. Question
What is Ethereum?
- A type of digital currency
- A platform for creating decentralized applications
- A digital wallet for storing Bitcoin
- A type of encryption used in cryptocurrencies
Question 8 of 50
8. Question
What is a ‘smart contract’?
- A contract that can be executed without the need for a third party
- A contract that can be modified after it's signed
- A contract that is only valid in certain conditions
- A contract that is stored in a digital format
Question 9 of 50
9. Question
What does ‘ICO’ stand for in the context of cryptocurrencies?
- Initial Coin Offering
- Initial Crypto Order
- International Currency Order
- Internal Coin Operation
Question 10 of 50
10. Question
Which term is used to describe a drastic price drop in cryptocurrencies?
- Fall
- Crash
- Dip
- Ditch
Question 11 of 50
11. Question
What does ‘HODL’ mean in the cryptocurrency community?
- Hold On for Dear Life
- Hold Or Dump Later
- Hope Of Double Lift
- Hype Of Digital Ledger
Question 12 of 50
12. Question
Which cryptocurrency is known as ‘digital silver’?
- Litecoin
- Bitcoin
- Ethereum
- Ripple
Question 13 of 50
13. Question
What is Ripple primarily designed for?
- As a cryptocurrency for trading
- As a payment protocol for financial institutions
- As a platform for smart contracts
- As a digital storage of value
Question 14 of 50
14. Question
What does DeFi stand for in the cryptocurrency world?
- Deficit Finance
- Decentralized Finance
- Digital Finance
- Definitive Finance
Question 15 of 50
15. Question
What is a ‘whale’ in cryptocurrency terms?
- A large amount of cryptocurrency
- A large-scale miner
- A large cryptocurrency exchange
- An individual or entity with a large amount of cryptocurrency
Question 16 of 50
16. Question
What is a ‘hash’ in the context of cryptocurrencies?
- A function that converts an input of letters and numbers into an encrypted output
- A type of cryptocurrency
- A measure of how much processing power the blockchain network is using
- A sequence of characters used in blockchain mining
Question 17 of 50
17. Question
What is a ‘nonce’ in the context of cryptocurrencies?
- A token used to pay transaction fees
- A random number used in cryptographic communications
- The number of transactions confirmed by a miner
- A term used to refer to a new cryptocurrency
Question 18 of 50
18. Question
What is the purpose of a ‘cryptocurrency wallet’?
- To store cryptographic keys
- To mine new cryptocurrency
- To perform transactions on a blockchain network
- Both A and C
Question 19 of 50
19. Question
What is a ‘cold wallet’?
- A cryptocurrency wallet that is connected to the internet
- A cryptocurrency wallet that is not connected to the internet
- A cryptocurrency wallet that has been hacked
- A cryptocurrency wallet that has been frozen by authorities
Question 20 of 50
20. Question
What is ‘staking’ in the context of cryptocurrencies?
- Holding a cryptocurrency in a wallet to support the security and operations of a blockchain network
- The process of selling cryptocurrencies
- The process of buying cryptocurrencies
- The process of creating new cryptocurrencies
Question 21 of 50
21. Question
What is a ‘peer-to-peer’ (P2P) network in the context of cryptocurrencies?
- A network where transactions must go through a central server
- A network where transactions happen directly between users without an intermediary
- A network where all nodes have equal power and authority
- Both B and C
Question 22 of 50
22. Question
What is a ‘dust attack’?
- A type of network attack where a large number of small transactions are made to slow down the network
- A type of attack where a miner tries to modify the blockchain
- A type of attack where a large amount of cryptocurrency is stolen from a wallet
- A type of attack where a hacker tries to take control of a blockchain network
Question 23 of 50
23. Question
What is ‘gas’ in the context of Ethereum?
- The currency used in Ethereum
- The cost of performing a transaction or executing a contract on the Ethereum blockchain
- The energy consumed by the Ethereum network
- The reward given to miners for verifying transactions
Question 24 of 50
24. Question
What is the main difference between Bitcoin and Bitcoin Cash?
- Bitcoin Cash allows for larger block sizes
- Bitcoin Cash is not a cryptocurrency
- Bitcoin Cash is the original version, while Bitcoin is a fork
- Bitcoin is a digital currency, while Bitcoin Cash is a platform for decentralized applications
Question 25 of 50
25. Question
What is a ‘51% attack’?
- A type of attack where a miner or group of miners control more than 50% of a network's mining power
- A type of attack where a miner steals 51% of a user's cryptocurrency
- A type of attack where a hacker takes control of 51% of a network's nodes
- A type of attack where a miner tries to reverse 51% of a blockchain's transactions
Question 26 of 50
26. Question
What is ‘double-spending’ in the context of cryptocurrencies?
- Spending the same cryptocurrency twice
- Spending twice the amount of a transaction fee
- Spending double the amount of a user's cryptocurrency balance
- Spending a cryptocurrency and its equivalent in fiat currency at the same time
Question 27 of 50
27. Question
What is the main difference between a public blockchain and a private blockchain?
- Public blockchains are accessible to anyone, while private blockchains restrict who can participate in the network
- Public blockchains use cryptographic security measures, while private blockchains do not
- Private blockchains are a type of cryptocurrency, while public blockchains are not
- Private blockchains use proof-of-stake consensus algorithms, while public blockchains use proof-of-work
Question 28 of 50
28. Question
What is ‘sharding’ in the context of blockchain?
- The process of dividing a blockchain into smaller pieces to increase its scalability
- The process of sharing a blockchain's data with other networks
- The process of dividing a blockchain's hash power among multiple miners
- The process of sharing a blockchain's transaction fees among its users
Question 29 of 50
29. Question
What is a ‘DAO’ in the context of blockchain?
- Decentralized Autonomous Organization
- Digital Asset Optimization
- Distributed Application Operator
- Decentralized Application Output
Question 30 of 50
30. Question
What is ‘yield farming’ in the context of DeFi?
- The process of lending or providing liquidity to earn rewards
- The process of mining cryptocurrencies
- The process of buying low and selling high to maximize returns
- The process of investing in cryptocurrency projects with high potential
Question 31 of 50
31. Question
What is a ‘stablecoin’?
- A cryptocurrency that has a stable value
- A cryptocurrency that is resistant to market volatility
- A cryptocurrency that is backed by a reserve of assets
- All of the above
Question 32 of 50
32. Question
What is ‘fiat currency’?
- A type of digital currency
- A type of cryptocurrency
- A type of currency that is backed by a physical commodity
- A type of currency that is issued by a government
Question 33 of 50
33. Question
What does ‘FOMO’ stand for in the context of cryptocurrencies?
- Fear Of Market Overload
- Fear Of Missing Out
- Fear Of Monetary Oscillation
- Fear Of Maximalist Opposition
Question 34 of 50
34. Question
What is ‘altcoin’?
- An alternative to Bitcoin
- A type of digital coin
- A coin used in alternative trading systems
- A coin that is used in alternative investment strategies
Question 35 of 50
35. Question
What is ‘scalability’ in the context of blockchain?
- The ability of a blockchain to handle a large number of transactions per second
- The ability of a blockchain to be used in various applications
- The ability of a blockchain to be modified to fit different use cases
- The ability of a blockchain to be divided into smaller parts
Question 36 of 50
36. Question
What is the ‘halving’ event in Bitcoin?
- An event where the value of Bitcoin is halved
- An event where the number of Bitcoin in circulation is halved
- An event where the reward for mining new blocks is halved
- An event where the size of the Bitcoin blockchain is halved
Question 37 of 50
37. Question
What is a ‘digital signature’ in the context of blockchain?
- A signature that is used to sign digital documents
- A signature that is used to verify the identity of a user
- A signature that is used to sign and verify transactions
- All of the above
Question 38 of 50
38. Question
What is ‘Layer 2’ in the context of blockchain?
- A second layer of security for a blockchain network
- A second version of a blockchain network
- A secondary blockchain that operates on top of the main blockchain
- A layer of the blockchain where transactions are stored
Question 39 of 50
39. Question
What is ‘liquidity’ in the context of cryptocurrencies?
- The ease with which a cryptocurrency can be bought and sold without affecting the market price
- The amount of a cryptocurrency that is available for trading
- The ability of a cryptocurrency to maintain its value over time
- The volatility of a cryptocurrency's price
Question 40 of 50
40. Question
What is the primary purpose of a ‘block explorer’?
- To explore the internet for new blocks
- To visually represent the blockchain's data structure
- To browse the contents of individual blocks and transactions on a blockchain
- To find hidden blocks in a blockchain
Question 41 of 50
41. Question
What is a ‘cryptocurrency exchange’?
- A place where cryptocurrencies are bought and sold
- A place where cryptocurrencies are created
- A place where cryptocurrencies are stored
- A place where cryptocurrencies are destroyed
Question 42 of 50
42. Question
What is ‘tokenization’ in the context of blockchain?
- The process of converting rights to an asset into a digital token on a blockchain
- The process of converting a blockchain into tokens
- The process of converting a cryptocurrency into tokens
- The process of converting a transaction into tokens
Question 43 of 50
43. Question
What is ‘SegWit’ in the context of Bitcoin?
- A proposal to increase the block size limit
- A protocol upgrade that changes the way data is stored
- A type of wallet for storing Bitcoin
- A proposal to decrease the block size limit
Question 44 of 50
44. Question
What is a ‘sidechain’ in the context of blockchain?
- A secondary blockchain that operates in parallel to the main chain
- A chain of blocks that is stored on the side of the main chain
- A chain of blocks that is used for testing purposes
- A chain of blocks that is used for private transactions
Question 45 of 50
45. Question
What is ‘oracles’ in the context of blockchain?
- Entities that feed real-world data to smart contracts
- Entities that predict the future price of cryptocurrencies
- Entities that verify the transactions on a blockchain
- Entities that store the data of a blockchain
Question 46 of 50
46. Question
What is ‘zero-knowledge proof’?
- A method by which one party can prove to another party that they know a value, without conveying any information apart from the fact they know the value
- A method to prove that a transaction is valid without revealing any details about the transaction
- A method to prove that a user owns a certain amount of cryptocurrency without revealing their identity
- All of the above
Question 47 of 50
47. Question
What does ‘DEX’ stand for in the context of cryptocurrencies?
- Decentralized Exchange
- Digital Exchange
- Distributed Exchange
- Direct Exchange
Question 48 of 50
48. Question
What is a ‘multisig wallet’ in the context of cryptocurrencies?
- A wallet that requires multiple signatures to authorize a transaction
- A wallet that supports multiple cryptocurrencies
- A wallet that has multiple levels of security
- A wallet that is owned by multiple users
Question 49 of 50
49. Question
What does ‘KYC’ stand for in the context of cryptocurrencies?
- Know Your Coin
- Keep Your Cryptocurrency
- Know Your Customer
- Keep Your Code
Question 50 of 50
50. Question
What is ‘Atomic Swap’ in the context of blockchain?
- The process of exchanging one cryptocurrency for another without the need for a central intermediary
- The process of swapping the positions of two transactions in a blockchain
- The process of swapping the values of two cryptocurrencies
- The process of changing the atomic structure of a blockchain

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