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Questions and Answers
What is the largest cryptocurrency?
What is the largest cryptocurrency?
- Ethereum
- Bitcoin (correct)
- Litecoin
- Ripple
What is used to secure cryptocurrency transactions?
What is used to secure cryptocurrency transactions?
- Blockchain
- Smart contracts
- Cryptography (correct)
- Decentralization
What type of database is used to store individual coin ownership records?
What type of database is used to store individual coin ownership records?
- Spreadsheet
- Digital ledger (correct)
- Database
- File
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Study Notes
- Cryptocurrencies are digital or virtual currencies that use cryptography to secure transactions.
- Bitcoin is the largest cryptocurrency and is considered “digital gold.”
- Ethereum is the 2nd-largest cryptocurrency and is popular for its use in developing smart contracts.
- Cryptocurrencies are decentralized, meaning they are not reliant on a central authority to maintain them.
- Individual coin ownership records are stored in a digital ledger, a computerized database using strong cryptography.
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