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Module 6: Future Trends and Developments in Blockchain and Cryptocurrencies

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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?

The direct, peer-to-peer trading of cryptocurrencies between different blockchains without an intermediary Signup and view all the answers

Which of the following is NOT considered a factor shaping the future of cryptocurrencies?

Physical Currency Printing Signup and view all the answers

What are stablecoins primarily used for within the crypto ecosystem?

To provide a more stable and reliable medium of exchange Signup and view all the answers

What is the role of financial institutions in the growing adoption of cryptocurrencies?

They are integrating cryptocurrencies into their portfolios and offering related services Signup and view all the answers

What does KYC stand for in regulatory compliance?

Know Your Customer Signup and view all the answers

Which career opportunity involves designing and implementing smart contracts on platforms like Ethereum?

Smart Contract Engineer Signup and view all the answers

Why are Layer 2 solutions important for the future of blockchain technology?

They improve scalability and transaction speed Signup and view all the answers