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Questions and Answers
Which of the following best describes cryptocurrency?
Which of the following best describes cryptocurrency?
- A type of currency used in international trade
- A type of digital currency that uses cryptography for security (correct)
- A type of physical currency that is used in online transactions
- A type of currency used in the stock market
What is the main purpose of using cryptography in cryptocurrency?
What is the main purpose of using cryptography in cryptocurrency?
- To regulate the value of the currency
- To secure transactions and control the creation of new units (correct)
- To prevent inflation
- To track the flow of money
How does cryptocurrency differ from physical currency?
How does cryptocurrency differ from physical currency?
- Cryptocurrency is digital and centralized, while physical currency is physical and decentralized
- Cryptocurrency is digital and decentralized, while physical currency is physical and centralized (correct)
- Cryptocurrency is physical and decentralized, while physical currency is digital and centralized
- Cryptocurrency is physical and centralized, while physical currency is digital and decentralized
