Crypto Currency Quiz Test

1. What is the primary technology underlying cryptocurrencies like Bitcoin?

• a) Artificial Intelligence 

• b) Blockchain 

• c) Quantum Computing 

• d) Virtual Reality 

2. Which was the first cryptocurrency ever created?

• a) Ethereum 

• b) Ripple 

• c) Litecoin 

• d) Bitcoin 

3. Who is the creator of Bitcoin?

• a) Vitalik Buterin 

• b) Charlie Lee 

• c) Satoshi Nakamoto 

•   d) Jed McCaleb 

4. What does the term "HODL" stand for in the cryptocurrency community?

• a) Hold On for Dear Life 

• b) High Operating Digital Ledger 

• c) High Order Data Link 

• d) Hold On to Digital Ledger 

5. Which cryptocurrency is known for its smart contract functionality?

• a) Bitcoin 

• b) Litecoin 

• c) Ethereum 

•   d) Ripple 

6. What is the process of validating transactions and adding them to the blockchain called?

• a) Trading 

• b) Mining 

• c) Staking 

• d) Forking 

7. Which of the following is a type of digital wallet that stores cryptocurrencies offline?

• a) Hot wallet 

• b) Cold wallet

• c) Soft wallet 

• d) Cloud wallet 

8. Which cryptocurrency is often referred to as the “silver to Bitcoin’s gold”?

•  a) Ethereum

• b) Ripple 

• c) Litecoin 

• d) Dogecoin 

9. What is a decentralized application (dApp)?

•  a) An application that runs on a single server 

• b) An application that runs on a decentralized network 

• c) An application that requires no internet

• d) An application controlled by a central authority 

10. Which term refers to the spreading of investments across various cryptocurrencies to mitigate risk?

• a) Consolidation 

• b) Diversification 

• c) Amplification 

•    d) Centralization