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Questions and Answers
Which of the following is NOT a characteristic of cryptocurrencies?
Which of the following is NOT a characteristic of cryptocurrencies?
- They use strong cryptography
- They are decentralized
- They rely on a central authority (correct)
- They are digital currencies
What is the purpose of a digital ledger in the context of cryptocurrencies?
What is the purpose of a digital ledger in the context of cryptocurrencies?
- To store individual coin ownership records (correct)
- To create additional coins
- To secure transaction records
- To verify the transfer of coin ownership
How are cryptocurrencies generally viewed in terms of asset class?
How are cryptocurrencies generally viewed in terms of asset class?
- As commodities
- As a distinct asset class (correct)
- As securities
- As currencies
What role do traditional intermediaries, such as banks, play in cryptocurrency transactions?
What role do traditional intermediaries, such as banks, play in cryptocurrency transactions?
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What is the purpose of strong cryptography in cryptocurrencies?
What is the purpose of strong cryptography in cryptocurrencies?
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