Cryptocurrency Basics Quiz
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Questions and Answers

What is the largest cryptocurrency?

  • Ethereum
  • Bitcoin (correct)
  • Litecoin
  • Ripple
  • 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?

  • Spreadsheet
  • Digital ledger (correct)
  • Database
  • File
  • 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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    Description

    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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