Cryptocurrency

What is cryptocurrency?

• It is a form of payment that is used to buy or sell things digitally.

• It is a medium of exchange and a storage of value.

• It is the means by which units can be created, stored, and transferred securely.

• All of above

What is a blockchain?

• It is a system in which a record of transactions made in bitcoin or another cryptocurrency

• The transactions are maintained across several computers that are linked in a peer-to-peer network.

• Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

• A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

• All of the above

What does it mean for blockchain to be immutable? Which answer is wrong?

• Unable to change

• Blocks in a blockchain, are unchangeable, they are made in a way, so that it is hard to change it.

• Blocks in a blockchain, are unchangeable they are made in a way, so that it is hard to change it but possible to fake.

• The ability for a blockchain ledger to remain a permanent, indelible, and unalterable history of transactions

What is hashing?

• One way to secure the data

• Changes to an unreadable text in order to verify the content of the message, not to hide it.​

• is the practice of encoding information, so only certain people can read it.​

• None of the above

What is SHA256?

^{Check all the correct answers}

• It Is a family of hashing algorithm​

• It is the most popular algorithm

• It is designed so that no one can reversed its algorithm​

• It has 256 possible answers

Pick 2 of the MOST CORRECT facts

• Bitcoin mining requires you to find the "exact match" to the SHA256​

• Any computer are design to run SHA256 really fast for the mining bitcoin race

• If we add all of the SHA256 of all of the people who are mining, we will get 60 Quintillion SHA 256 per second.​

• No one really know who Satoshi Nakamoto is, which makes bitcoin a mystery.​

Today you can buy one candy with one dollar. How many candies could you buy in 1950 with one dollar?

• 2

• 5

• 10

• 20

“Crypto” is short for

• photography

• cryptography

• cryptogram

• cryptomania

Cryptography is:

• encoding information so only authorized people can read it.

• taking photos of information

• buying and selling bitcoin

• encrypt money

Currency is

• Staying current with the news.

• Buying Bitcoins really fast.

• The system of money in general use in a country

• Mixing ingredients together