Module 6: Future Trends and Developments in Blockchain and Cryptocurrencies

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Questions and Answers

Which of the following is a Layer 2 solution designed to enhance Bitcoin's transaction speed and scalability?

  • Plasma
  • Polkadot
  • Lightning Network (correct)
  • Cosmos

What is the primary goal of interoperability solutions in blockchain technology?

  • To increase transaction fees
  • To enable different blockchain networks to communicate and work together (correct)
  • To enhance the privacy of transactions
  • To reduce the size of blockchain networks

Which blockchain protocol is designed to connect multiple specialized blockchains into one unified network?

  • Bitcoin
  • Ethereum
  • Polkadot (correct)
  • Ripple

What does the term "Atomic Swaps" refer to in the context of blockchain technology?

<p>The direct, peer-to-peer trading of cryptocurrencies between different blockchains without an intermediary (B)</p>
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Which of the following is NOT considered a factor shaping the future of cryptocurrencies?

<p>Physical Currency Printing (D)</p>
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What are stablecoins primarily used for within the crypto ecosystem?

<p>To provide a more stable and reliable medium of exchange (B)</p>
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What is the role of financial institutions in the growing adoption of cryptocurrencies?

<p>They are integrating cryptocurrencies into their portfolios and offering related services (C)</p>
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What does KYC stand for in regulatory compliance?

<p>Know Your Customer (B)</p>
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Which career opportunity involves designing and implementing smart contracts on platforms like Ethereum?

<p>Smart Contract Engineer (C)</p>
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Why are Layer 2 solutions important for the future of blockchain technology?

<p>They improve scalability and transaction speed (C)</p>
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