10 Questions
What is the technology behind cryptocurrencies?
Blockchain
What is the process of verifying and adding transactions to a blockchain?
Mining
What is needed to transact with a cryptocurrency?
Public and private keys
What is the history of every cryptocurrency transaction stored in?
Blockchain
What determines the value of many cryptocurrencies?
Demand and supply
What is the purpose of mining?
To verify and add transactions to a blockchain
What is the difference between public and private keys?
The public key is used to store digital assets, while the private key is used to transact with a cryptocurrency
What is the finite supply of some cryptocurrencies based on?
Demand and supply
What is the purpose of digital assets?
To use the blockchain technology
What is the purpose of the blockchain technology?
To store a history of transactions
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.
Test your knowledge of cryptocurrency fundamentals with this quiz. Explore topics such as blockchain technology, mining, keys, and cryptocurrency value.
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