Cryptocurrency Basics
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Questions and Answers

What is the technology that cryptocurrencies use?

  • Artificial Intelligence
  • Blockchain (correct)
  • Internet of Things
  • Quantum Computing
  • What is the process of verifying and adding transactions to a blockchain known as?

  • Encryption
  • Hashing
  • Mining (correct)
  • Verification
  • What are the two keys needed to transact with a cryptocurrency?

  • Public key and private address
  • Public key and private key (correct)
  • Public address and private key
  • Public address and private address
  • What is the value of cryptocurrencies based on?

    <p>Demand and supply</p> Signup and view all the answers

    What is a digital ledger that stores a history of every cryptocurrency transaction?

    <p>Blockchain</p> Signup and view all the answers

    What is the process of verifying cryptocurrency transactions?

    <p>Mining</p> Signup and view all the answers

    What is the process of adding transactions to a blockchain?

    <p>Mining</p> Signup and view all the answers

    What type of keys are needed to transact with a cryptocurrency?

    <p>Public and private keys</p> Signup and view all the answers

    What is the finite supply of many cryptocurrencies based on?

    <p>Demand and supply</p> Signup and view all the answers

    What is the technology used to store a history of every cryptocurrency transaction?

    <p>Blockchain</p> Signup and view all the answers

    Study Notes

    • Cryptocurrencies are digital assets that use the blockchain technology.
    • A blockchain is a digital ledger that stores a history of every cryptocurrency transaction.
    • Mining is the process of verifying and adding transactions to a blockchain.
    • To transact with a cryptocurrency, you need to have a set of public and private keys.
    • Many cryptocurrencies do not have a finite supply, and their value is based on demand and supply.

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    Description

    Test your knowledge about cryptocurrencies, blockchain technology, mining, and transaction security with this quiz.

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