Quiz 3 - Crypto Mining

1. What are processes involved in mining?

• a) Validate the transactions; Create new block

• b) Solve algorithm; Create new block

• c) Validate the transactions; send solutions

• d) Send bitcoin; receive bitcoin

Which of the following is NOT correct?

• a) Miners are awarded for each validated transaction

• b) Miners will only be rewarded when they receive bitcoins

• c) Miners are awarded bitcoin whenever they add a new block of transactions to the blockchain

• d) Miners are awarded with 6.25BTC each time they successfully created a new block

What is PoW stands for?

• a) Proof of Wallet

• b) Proof of Work

• c) Proof of Word

• d) Proof of Way

Transaction is pooled into?

• a) Network server

• b) Mining pool

• c) Binance pool

• d) Mempool

What does 3 confirmation means?

• a) It means there are 3 new blocks ahead of us

• b) It means there are 2 new blocks ahead of us

• c) It means there are 3 transactions validated

• d) It means there are 2 new blocks behind us