3 Questions
What is the largest cryptocurrency?
Bitcoin
What is used to secure cryptocurrency transactions?
Cryptography
What type of database is used to store individual coin ownership records?
Digital ledger
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.
Test your knowledge of cryptocurrencies with this quiz covering fundamental concepts such as Bitcoin, Ethereum, decentralized nature, and digital ledger technology.
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