Understanding Cryptocurrency and Blockchain

In 2010, how much was the Bitcoin used to buy two pizzas worth in today's value?

• $41

• $400 million

• $1,000

• $68,000

Which of the following is NOT a cryptocurrency?

• Solana

• Dollar

• Ethereum

• Bitcoin

What is a key characteristic of cryptocurrencies?

• They are digital tokens.

• They have a fixed value set by law.

• They are controlled by central banks.

• They are physical coins.

How is the value of cryptocurrencies determined?

• By the amount of mining

• By the number of users

• By the market demand

• By government regulation

What is a significant factor affecting the future of cryptocurrencies?

• Their fixed value

• Their ability to integrate with users

• Their physical presence

• Their regulation by banks

What technology is essential for recording cryptocurrency transactions?

• Internet

• Blockchain

• Centralized Ledger

• Cryptography

What is the role of cryptography in cryptocurrency?

• To regulate prices

• To secure transactions

• To create new coins

• To increase mining speed

What is the maximum number of Bitcoins that can be mined?

• 75 million

• 21 million

• 100 million

• 50 million

What does decentralized control mean in the context of cryptocurrencies?

• Not controlled by any single person or government

• Controlled by a single entity

• Regulated by international laws

• Managed by central banks

What is the purpose of a private key in cryptocurrency transactions?

• To manage and secure one's crypto coins

• To publicly display ownership

• To convert crypto to cash

• To increase transaction speed