Amulet quiz

What is staking?

• this dish

• it's such a cryptocurrency

• exchange

• This is a type of passive income

Answer explanation

Staking should be understood as receiving passive income by simply storing cryptocurrencies.

What is Proof of Stake?

• Miners compete with each other to complete transactions on the network and for rewards.

• proof of ownership, is one method of protecting the blockchain from tampering and unreliability of posted data.

• it's food too!

• I don't know tell me.

Answer explanation

Proof of Stake (PoS) is proof of ownership. PoS is one method of protecting the blockchain from tampering and unreliable data being posted.

When users choose a blockchain with this algorithm and store coins in their wallets, they are rewarded. This encourages system participants to get involved in the stacking process and thereby ensure that the blockchain works.

The PoS algorithm uses the following principle: the larger the amount stored by the user, the more blocks he will be able to generate.

Try to determine what type of proof refers to blockchain

• Proof of Work

• Chia

• Proof of Stake

• Cosmos

• Proof of Work

• bitcoin

• Proof of Stake

• TRON

• Proof of Stake

• Solana

Which sentences correspond to the truth about Proof of Stake (several answers)

• You must purchase and hold tokens to mine the blocks.

• To hack a network, you have to do a 51% attack, which is very expensive.

• You need powerful equipment to mine the blocks.

  Large holders can have high influence on votes on the development of the network.

• Requires high energy costs and is harmful to the environment.

• You only need to know how to buy and transfer cryptocurrency.

what is the name of the token that you can stake at https://app.amulet.org/#/underwrite/stake

(write your answer)

What types of Staking do you know?

• Locked Staking

• smart staking

• DeFi-stacking

• Flexible Staking

Answer explanation

Staking is a technique used in machine learning to combine multiple models to create a single, more powerful model. There are two main types of stacking:

​ (a)   Simple, Reliable​ (b)   For Everyone in ​ (c)  

• Amulet
• Cover
• Web3

What risks are possible in staking?

(write your answer)

Answer explanation

In this kind of earning, the main risk is the possible fall of crypto-asset price. The lower will be the rate of coin, the less amount (in fiat) will be 10%, 25% or 100% of reward.

For this reason, it is necessary to choose coins with low volatility. The best option is an asset that demonstrates, even if not dynamic, but stable growth. Cryptocurrency with high volatility can be a problem, especially with fixed stacking. In case of a strong drawdown, the user will not be able to sell it after seeing the beginning of the price drop.

It is also worth considering the risk of losing an account in an online service or cryptocurrency exchange. Therefore, all passwords and logins must be kept extremely secure.

Important: If the validator asks to send funds directly to him, this is a clear sign of fraud. Such requests should be ignored.

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