Incredible Crypto Quiz 2 Answers

1. WHAT TYPE OF TECHNOLOGY DOES CRYPTOCURRENCY DEPEND ON?

• Cryptochain
• Blockchain
• Bankchain
• Fiatchain

Right Answer: Blockchain

2. BITCOIN WAS THE ONLY FORM OF CRYPTOCURRENCY UNTIL WHAT YEAR?

• It is still the only form.
• 2018
• 2013
• 2011

Right Answer: 2011

3. WHAT IS THE TERM FOR CURRENCY THAT IS REGULATED BY THE GOVERNMENT (SUCH AS PAPER MONEY)?

• Tangible currency
• Guber currency
• Fiat Currency
• Aubit currency

Right Answer: Fiat Currency

4. AS OF JULY 2021, WHICH OF THE FOLLOWING IS IN THE TOP 5 MOST POPULAR CRYPTOCURRENCIES?

• Stellar
• VeChain
• Amp
• Ethereum

Right Answer: Ethereum

5. WHAT WAS THE FIRST FORM OF CRYPTO?

• Bitcoin
• Litecoin
• Ethereum
• Stellar

Right Answer: Bitcoin

6. CRYPTO IS PART OF A SYSTEM THAT DOES NOT RELY ON A SINGLE PERSON OR ORGANIZATION. WHAT IS THIS TERM?

• Technological
• Advanced
• Decentralized
• Unconnected

Right Answer: Decentralized

7. WHICH NAME DOES THE ANONYMOUS CREATOR OF BITCOIN GO BY?

• Barry Silbert
• Satoshi Nakamoto
• Nick Szabo
• Bill Gates

Right Answer: Satoshi Nakamoto

8. POLKADOT AND CARDANO WERE BOTH CREATED BY DIFFERENT PEOPLE, BOTH OF WHICH WERE INITIAL MEMBERS OF WHICH FORM OF CRYPTOCURRENCY?

• Ethereum
• Bitcoin Cash
• Chainlink
• Bitcoin

Right Answer: Ethereum

9. WHAT IS THE PROCESS OF ADDING AND VERIFYING TRANSACTIONS TO THE BLOCKCHAIN?

• Hammering
• Conducting
• Engineering
• Mining

Right Answer: Mining

10. HOW MANY BITCOINS CAN EVER EXIST?

• 15 Million
• 21 Million
• 50 Million
• Infinite amount

Right Answer: 21 Million

11. WHAT YEAR IS THE LAST BITCOIN EXPECTED TO BE MINED BY?

• 2030
• 2040
• 2050
• 2060

Right Answer: 2040

12. WHICH OF THESE COUNTRIES IS THE LARGEST MINER OF BITCOIN?

• Germany
• Russia
• United States
• China

Right Answer: China

13. WHAT IS THE SMALLEST UNIT OF A BITCOIN CALLED?

• Satoshi
• Bitoshi
• Nanocoin
• Ether

Right Answer: Satoshi

14. WHAT DOES P2P STAND FOR?

• Password to Password
• Password to Product
• Peer to Peer
• Product to Peer

Right Answer: Peer to Peer

15. WHAT IS A NODE?

• A crypto blockchain
• A blockchain transaction
• A computer connected to a crypto network
• An offline storage for cryptocurrency

Right Answer: A computer connected to a crypto network

16. WHAT IS A DAPP?

• A decentralized application
• A demonetized application
• A diluted application
• A defined application

Right Answer: A decentralized application

17. WHAT IS THE TERM FOR WHEN A BLOCKCHAIN SPLITS?

• Fork
• Hard Break
• Splinter
• Rupture

Right Answer: Fork

18. WHAT IS COLD STORAGE

• A crypto exchange
• A way of holding cryptocurrency offline
• A way of holding cryptocurrency online
• A way to mine cryptocurrency

Right Answer: A way of holding cryptocurrency offline

19. WHICH OF THESE PEOPLE IS A CO-FOUNDER OF ETHEREUM?

• Vitalik Buterin
• Satoshi Nakamoto
• Jackson Palmer
• Elon Musk

Right Answer: Vitalik Buterin

20. WHAT IS ETHEREUM?

• A Bitcoin token
• A blockchain platform with its own currency
• A Bitcoin mining platform
• A process of pricing crypto transactions

Right Answer: A blockchain platform with its own currency

21. WHAT TERM BEST DESCRIBES A WAY IN WHICH CRYPTOCURRENCY CAN BE VERIFIED?

• Bridges
• Defi
• Halving
• Proof of Work

Right Answer: Proof of Work

22. WHAT CHARACTERISTIC MAKES BLOCKCHAIN VIRTUALLY TAMPER-PROOF?

• Proof of Stake
• Private Keys
• Immutability
• Network Regulated Security

Right Answer: Immutability

23. WHAT IS THE NAME OF THE FIRST ACADEMIC PAPER TO DESCRIBE BITCOIN KNOWN AS?

• Black Paper
• White Paper
• Green Paper
• Red Paper

Right Answer: White Paper

24. HOW LONG DOES IT TAKE TO MINE ONE BLOCK OF BITCOIN?

• 30 seconds
• 1 minute
• 10 minutes
• 30 minutes

Right Answer: 10 minutes

25. HOW OFTEN CAN YOU TRADE CRYPTOCURRENCY?

• 24 hours a day/7 days a week
• 9:30am-4:30pm/ Monday-Friday
• 9:30am-4:30pm/ Monday-Saturday
• 12am-5pm/ Saturday and Sunday

Right Answer: 24 hours a day/7 days a week