Web3 School ITW3 Ch. 1 Quiz

Which of the following is not one of the fundamental design paradigms of Web3, according to the definition we provided?

• peer-to-peer

• decentralization

• user-centric

• open source

The less energy-intensive alternative to proof of work is called...

• proof of permission

• proof of stake

• proof of ownership

• proof of work light

Which of the following statements is NOT true?

• Bitcoin was designed to be an alternative to traditional currency

• Ethereum has multiple applications in addition to being an alternative to traditional currency

• The ethereum network's currency is called ethcoin.

• A smart contract is a program that runs on the ethereum blockchain.

What is Bitcoin's current market share (Bitcoin market cap in relation to total market cap of all cryptocurrencies)?

• 40% - 50%

• 30% - 40%

• < 30%

• 50% - 60%

What is the main point of criticism of libertarians and cypherpunks against FIAT?

• inflationary

• not backed by gold

• central bank controlled

• governmental debts

What best describes the relationship between Web3 and the metaverse?

• They are the same

• Web3 is part of the metaverse

• The metaverse is part of Web3

• They overlap

What element does Web3 add to the internet, according to Juan Benet at the Web3 summit in 2018?

• reading

• writing

• trusting

• connecting

To which year of "development of the internet" is crypto adoption in 2022 comparable?

• 1993

• 2002

• 1990

• 1998

Which Web3 application is supposed to be most relevant for the metaverse?

• NFTs

• DAOs

• DeFi

• Bitcoin

According to Marc Andreessen - founder of venture firm “Andreessen Horowitz” - the original sin of the internet was...

• social media

• payments not being incorporated into the browser

• legalising commercial use of the internet

• centralisation