Arena Games x Tangem QUIZ

1. What is the process of verifying cryptocurrency transactions and adding them to the blockchain called?

• Encryption

• Decentralization

• Mining

• Central Ledger

2. What is a "block" in a blockchain?

• A file that stores personal information of users.

• A block is a collection of data or transactions that are added to the blockchain

• A physical device used to store blockchain data

• A computer program that manages the entire blockchain network

3. Which cryptocurrency was the first to use blockchain technology?

• Etherium

• Bitcoin

• Solana

• BNB

4. What does the term "decentralization" mean in the context of blockchain?

• It refers to reducing the size of data blocks in the blockchain

• It means that the network is not controlled by a single central authority

• It means that all data is stored in a single central database

• It means that only one central authority controls the entire blockchain network

5. What is a "hash" in blockchain?

• A method for encrypting and decrypting private keys

• Hash is the place where users information is stored

• A type of cryptocurrency used within the blockchain network

• Hash is a function that converts an input (or 'message') into a fixed-length string of bytes, typically used to secure transactions

6. Who is the creator of Bitcoin?

• Elon Musk

• Changpeng Zhao

• Barry Silbert

• Satoshi Nakamoto

7. What is the main advantage of using blockchain technology?

• Speed , Availability , Security

• Decentralization , Availability , Speed

• Security , Decentralization , Availability

• Transparency, Security, Decentralization

8. What is a blockchain?

• A type of cryptocurrency used for online payments

• A single centralized database controlled by one organization

• A social media platform for sharing encrypted messages

• A distributed digital ledger that records transactions across many computers

9. What is "proof of work" (PoW)?

• Is algorithm that requires participants to solve a difficult computational puzzle to add a block to the blockchain

• Is system where transactions are validated by a central authority

• Is a method for encrypting messages sent between blockchain users.

• Is process that involves verifying users' identities before they can join the network

10. What is a "wallet" in the context of cryptocurrencies?

• A type of bank account that stores traditional fiat currency

• Digital tool that allows users to store and manage their cryptocurrencies.

• A software program that mines new cryptocurrencies

• A physical device used to print cryptocurrency transactions