OpenEX quiz procedures/ questions & Answers
questions and answers of OpenEx Quiz
set: A
1,What Is Smart Contract
Ans: an Automated agreement written In Code
2,How Should a Community uphold Common Interests?
Ans: Vote Together and Share Decision -Making Power
3,What is Defi?
Ans: Decentralized Finance
4,How Should You Protect Your Private Key
Ans: Store it in a secure place and do not Share With anyone
5, Which User Action could Potentially affect the Price of a coin?
Ans: all of the Above
SET: B
1.What is Bitcoin mining?
Ans: Using computer hardware to solve complex problem and earn Bitcoin rewards.
2.What is cryptocurrency?
Ans: digital or virtual currency that’s used cryptography for security and operates independently.
3.How does money move in the blockchain?
Ans: With Digital transaction between nodes.
4.What is a smart contract?
Ans: An automated agreement written in code
5.What is NFT?
Ans: Unique digital assets that can’t be replaced with something else.
6.What is Blockchain mining?
Ans: Using computer hardware to solve complex problems and earn Bitcoin rewards.
7.What is Blockchain?
Ans: All of the above
8.Who should contribute to the Blockchain?
Ans: Everyone can
SET: C
1. What is an ICO (Initial Coin Offering)?
Ans:It is a process of investment through Cryptocurriencies into new Cryptocurrency projects.
2. What is a DAO?
Ans: Decentralized Autonomous Organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government.
3. Do tokens on a testnet have value?
Ans: No
4. Where does blockchain's security come from?
Ans: Its immutable and transparent nature.
5.What are digital signatures?
Ans: A way to authenticate and ensure the integrity of digital documents or messages using cryptography.
6. What is Gas
Ans: A mechanism within Ethereum used to calculate the pprices of operations.
7. How can you avoid scam links on Twitter?
Ans: Don't click any links.
8. What is Web3?
Ans : A javascript library used for the developement of decentralized applications.
QUESTIONS AND ANSWERS*
👇🏾👇🏾
1) What is Blockchain mining
✅ Using computer hardware to solve complex problems and earn Bitcoin rewards
2) What is Blockchain
✅ All of the above
3) Who should contribute to the Blockchain
✅ Everyone can
4) What is an ICO
✅ It is a process of investment through cryptocurrencies into new cryptocurrency projects.
5) What is Gas
✅ A mechanism within Ethereum used to calculate the prices of operations
6) What is cryptocurrency
✅ It is a digital or virtual currency that uses cryptography for security and operates, independently of a central bank
7) What is Ethereum
✅ An open-source, blockchain-based, decentralized software platform used for its own cryptocurrency, Ether
8) How should a community uphold common interests
✅ Vote together and share decision-making power
9) What is web3
✅ A JavaScript library used for the development of decentralized applications
Web3?
A. A trend in website design
B. A javascript library used for the development of decentralized applications
C. A new type of internet browser
D. The newest version of the internet
10. Where does blockchain's security come from?
A. The concept of the design
✅B. Its immutable and transparent nature
C. Bitcoin mining
D. Tokens on the testnet
11. What are NFTs (Non-Fungible Tokens)?
✅A. Unique digital assets that cannot be replaced with something else
B. The best way to transmit music
C. Random items in video games
D. Military grade electronics
12. What are digital signatures?
A. Type of cryptocurrency
B. A description of computation graphs
✅C. A way to authenticate and ensure the integrity of digital documents or messages using cryptography
D. Type of confidential information
13. What is a smart contract?
A. An automated agreement written in code
✅B. A legal document stored on the blockchain
C. A cryptocurrency
D. A fundamental building