Grade 12, Unit 12.1, Electronic Currency

Multiple Choice

Digital currency transactions are carried out through _________ or electronic _________ linked to the internet or other specific networks.

• computers, wallets

• banks, ATMs

• central banks, gadgets

• using coins, wallets

• coins, banking

Multiple Choice

Which of these is a Digital Currency?

• Gold
• Silver
• Credit

• Cash

Multiple Choice

The difference between digital currency and virtual currency is .......................

• Digital currency encompasses all digital forms of money, while virtual currency is a type of digital currency used in specific online environments.
• Digital currency is only used for online transactions.
• Virtual currency is a government-backed currency.
• Digital currency is a physical form of money.

Multiple Choice

Which of the following is not an example of crypto currency?

• US Dollar
• Bitcoin
• Dogecoin
• Ethereum

Multiple Choice

What is the purpose of a blockchain?

• To store and transmit information securely

• To make transactions faster

• To eliminate the need for intermediaries in financial transactions

• All of the above

Multiple Choice

How is the data stored on a blockchain?

• In a central database

• In a decentralized network of nodes

• In a cloud-based storage system

• None of the above

Multiple Choice

What is a block in a blockchain?

• A single unit of data that is stored on a chain

• A physical object that represents a transaction

• A code that is used to encrypt data

• None of the above

Multiple Choice

What is a mining reward in blockchain?

• A fee paid by the user for processing a transaction

• A fee paid by the miner for using the network

• A cryptocurrency reward given to the miner for validating a block

• None of the above