Uncover the Decentralized World of Cryptocurrencies
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

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?

  • 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?

  • As commodities
  • As a distinct asset class (correct)
  • As securities
  • As currencies

    • What role do traditional intermediaries, such as banks, play in cryptocurrency transactions?

    <p>They are eliminated</p> Signup and view all the answers

    What is the purpose of strong cryptography in cryptocurrencies?

    <p>To ensure the security of the system</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser