Summative 1 Crypto currency
Authored by Solomon Abalaka
Information Technology (IT)
11th Grade
Used 1+ times
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32 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Bitcoin?
A cloud-based service that hosts blockchain nodes
A decentralized digital currency
A digital crypto wallet
A hardware crypto wallet
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is the creator of Bitcoin?
Ryuichi Sakamoto
Satoshi Nakamoto
Akira Toriyama
Masashi Kishimoto
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does NFT mean?
Nonfungible Token
New Financial Trend
National Finance Technology
New Financial Art
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
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