Cryptocurrency Basics Quiz
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Questions and Answers

What is the technology behind cryptocurrencies?

  • Digital assets
  • Blockchain (correct)
  • Mining
  • Public and private keys
  • What is the process of verifying and adding transactions to a blockchain?

  • Digital assets
  • Blockchain
  • Mining (correct)
  • Public and private keys
  • What is needed to transact with a cryptocurrency?

  • Digital assets
  • Blockchain
  • Mining
  • Public and private keys (correct)
  • What is the history of every cryptocurrency transaction stored in?

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

    What determines the value of many cryptocurrencies?

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

    What is the purpose of mining?

    <p>To verify and add transactions to a blockchain</p> Signup and view all the answers

    What is the difference between public and private keys?

    <p>The public key is used to store digital assets, while the private key is used to transact with a cryptocurrency</p> Signup and view all the answers

    What is the finite supply of some cryptocurrencies based on?

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

    What is the purpose of digital assets?

    <p>To use the blockchain technology</p> Signup and view all the answers

    What is the purpose of the blockchain technology?

    <p>To store a history of transactions</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 of cryptocurrency fundamentals with this quiz. Explore topics such as blockchain technology, mining, keys, and cryptocurrency value.

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