Understanding Cryptocurrency and Blockchain

Understanding Cryptocurrency and Blockchain

9th Grade

10 Qs

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Understanding Cryptocurrency and Blockchain

Understanding Cryptocurrency and Blockchain

Assessment

Quiz

Other

9th Grade

Practice Problem

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Created by

Josh Martin

Used 1+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a blockchain primarily used for in the context of cryptocurrencies?

Storing data in a centralized database

Recording transactions in a decentralized ledger

Encrypting personal information

Managing user accounts

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes the process of cryptocurrency mining?

Creating new cryptocurrencies by solving complex mathematical problems

Buying and selling cryptocurrencies on an exchange

Storing cryptocurrencies in a digital wallet

Transferring cryptocurrencies between users

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary function of a cryptocurrency wallet?

To mine new cryptocurrencies

To store and manage digital currency

To convert cryptocurrencies into fiat money

To track cryptocurrency market trends

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of wallet is considered the most secure for storing cryptocurrencies?

Online wallet

Mobile wallet

Hardware wallet

Paper wallet

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a smart contract in the context of blockchain technology?

A legal agreement written in code that automatically executes actions

A digital signature used to verify transactions

A type of cryptocurrency used for smart devices

A contract that requires manual approval by all parties

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a transaction get added to a blockchain?

It is verified by a central authority and then added

It is broadcast to the network and added by miners after verification

It is directly added by the sender

It is stored temporarily until enough transactions are collected

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main advantage of decentralization in blockchain technology?

Faster transaction speeds

Reduced transaction costs

Increased security and transparency

Easier government regulation

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