Summative 1 Crypto currency

What is Bitcoin?

• A cloud-based service that hosts blockchain nodes

• A decentralized digital currency

• A digital crypto wallet

• A hardware crypto wallet

Who is the creator of Bitcoin?

• Ryuichi Sakamoto

• Satoshi Nakamoto

• Akira Toriyama

• Masashi Kishimoto

What does NFT mean?

• Nonfungible Token

• New Financial Trend

• National Finance Technology

• New Financial Art

What is Ethereum?

• A DEX (decentralized exchange)

• A DAO (decentralized autonomous organization)

• A layer-2 network that executes on the Bitcoin blockchain

• A blockchain network that can run smart contracts

What is MetaMask?

• The main cryptocurrency used in the Metaverse

• A cryptocurrency created by Meta (Facebook)

• A new social media platform that runs on the blockchain

• A browser extension that serves as a cryptocurrency wallet

What is an NFT (non-fungible token)?

• An NFT is a paper asset that represents real-world objects like art, music, in-game items and videos.

• An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos.

• An NFT is an imaginary asset that represents real-world objects like art, music, in-game items and videos.

• An NFT is a fake asset that represents real-world objects like art, music, in-game items and videos.

What is a Decentralized Exchange?

• Decentralized exchanges are regulated, need licenses to operate, and are compliant with the regulatory authorities.

• Centralized exchanges are unregulated, don't need licenses to operate, and are non-compliant with the regulatory authorities.

• This is a peer-to-peer marketplaces where cryptocurrency traders make transactions directly without handing over management of their funds to an intermediary or custodian.

• This is where you store your secret pass phrase

Crypto assets and blockchain have the same meaning.

• True

• False

A Non-Fungible Token (NFT) can represent ownership of a video clip of a basketball game.

• True

• False

Which crypto asset is the oldest?

• Tether

• Bitcoin

• Dogecoin

• Ether