Ethereum Quiz

What is Ethereum?

• Ethereum is a social media platform for sharing photos and videos

• Ethereum is a centralized platform controlled by a single entity

• Ethereum is a decentralized platform that enables smart contracts and decentralized applications (DApps) to be built and operated without any downtime, fraud, control, or interference from a third party.

• Ethereum is a type of cryptocurrency used for online shopping

What is the main purpose of Ethereum?

• To provide a centralized platform for running smart contracts and DApps.

• To facilitate traditional banking transactions.

• To create a social media platform.

• To provide a decentralized platform for running smart contracts and DApps.

What is the currency used in Ethereum?

• Ether (ETH)

• Ripple (XRP)

• Litecoin (LTC)

• Bitcoin (BTC)

How is Ethereum different from Bitcoin?

• Ethereum and Bitcoin have the same consensus algorithm

• Ethereum has a limited supply of coins, unlike Bitcoin

• Ethereum is only used for peer-to-peer transactions, unlike Bitcoin

• Ethereum has smart contract functionality and a different consensus algorithm (Proof of Stake)

When was Ethereum created?

• 2015

• 2010

• 2013

• 2008

Who is the founder of Ethereum?

• Vitalik Buterin

• Satoshi Nakamoto

• Mark Zuckerberg

• Elon Musk

What are smart contracts in Ethereum?

• Legal documents stored in a filing cabinet

• Contracts signed with a pen and paper

• Self-executing contracts with terms directly written into code

• Agreements made verbally

How do smart contracts work?

• Smart contracts are physical documents signed by the parties involved

• Smart contracts are executed by a team of lawyers

• Smart contracts are self-executing contracts with the terms of the agreement directly written into code.

• Smart contracts are based on verbal agreements

What are the advantages of using smart contracts in Ethereum?

• Lack of transparency and security risks

• Increased manual work and inefficiency

• Higher costs and slower processing

• Automation, transparency, security, and efficiency