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WorksheetsCryptocurrency
Total questions: 13
Worksheet time: 7mins
What is cryptocurrency?
It is a form of payment that is used to buy or sell things digitally.
It is a medium of exchange and a storage of value.
It is the means by which units can be created, stored, and transferred securely.
All of above
What is a blockchain?
It is a system in which a record of transactions made in bitcoin or another cryptocurrency
The transactions are maintained across several computers that are linked in a peer-to-peer network.
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.
A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
All of the above
What does it mean for blockchain to be immutable? Which answer is wrong?
Unable to change
Blocks in a blockchain, are unchangeable, they are made in a way, so that it is hard to change it.
Blocks in a blockchain, are unchangeable they are made in a way, so that it is hard to change it but possible to fake.
The ability for a blockchain ledger to remain a permanent, indelible, and unalterable history of transactions
What is hashing?
One way to secure the data
Changes to an unreadable text in order to verify the content of the message, not to hide it.
is the practice of encoding information, so only certain people can read it.
None of the above
What is SHA256?
Check all the correct answers
It Is a family of hashing algorithm
It is the most popular algorithm
It is designed so that no one can reversed its algorithm
It has 256 possible answers
Pick 2 of the MOST CORRECT facts
Bitcoin mining requires you to find the "exact match" to the SHA256
Any computer are design to run SHA256 really fast for the mining bitcoin race
If we add all of the SHA256 of all of the people who are mining, we will get 60 Quintillion SHA 256 per second.
No one really know who Satoshi Nakamoto is, which makes bitcoin a mystery.
Today you can buy one candy with one dollar. How many candies could you buy in 1950 with one dollar?
2
5
10
20
“Crypto” is short for
photography
cryptography
cryptogram
cryptomania
Cryptography is:
encoding information so only authorized people can read it.
taking photos of information
buying and selling bitcoin
encrypt money
Currency is
Staying current with the news.
Buying Bitcoins really fast.
The system of money in general use in a country
Mixing ingredients together
Cryptocurrency is
not something you can hold in your hand or withdraw from a bank.
digital currency where encryption is used to control the creation of currency.
only a unique string of letters and numbers stored digitally
only available digitally
All of the above
TRUE or FALSE: Inflationary means that the VALUE of money GOES DOWN over time so you can’t buy as much with the same money as before.
TRUE
FALSE
TRUE or FALSE: Deflationary means that the VALUE of money GOES UP over time so you can buy more with the same money as before.
TRUE
FALSE
