Cryptocurrency Quiz

What is cryptocurrency?

• A physical form of currency
• A digital or virtual currency secured by cryptography
• A government-issued currency
• A type of stock

How are cryptocurrencies different from traditional currencies?

• Cryptocurrencies are physical objects like coins or banknotes
• Cryptocurrencies are issued and regulated by governments or central banks
• Cryptocurrencies can be used globally and instantly without intermediaries
• Cryptocurrencies have no security or privacy features

When was the first decentralized cryptocurrency created?

• 1990
• 2005
• 2009
• 2015

Who is the creator of Bitcoin?

• Satoshi Nakamoto
• Bill Gates
• Mark Zuckerberg
• Elon Musk

What is the main feature of a decentralized economic system?

• State or government makes economic decisions
• Decision-making is distributed amongst various economic agents
• Market participants have no control over their financial transactions
• Central recordkeeping of digital currency transactions

What is a blockchain?

• A centralized, regulated ledger of cryptocurrency transactions
• A digital wallet for storing cryptocurrencies
• A decentralized public ledger of cryptocurrency transactions
• A platform for buying and selling cryptocurrencies

What is the process of verifying and adding transactions to the blockchain called?

• Mining
• Trading
• Wallets
• Exchanges

What is the incentive for miners to participate in the mining process?

• Transaction fees
• Newly released bitcoin
• Both transaction fees and newly released bitcoin
• No incentive

What is the cryptographic function used in Bitcoin mining?

• SHA 256
• AES
• RSA
• MD5

Where can users buy, sell, and trade cryptocurrencies?

• Banks
• Government agencies
• Cryptocurrency exchanges
• Social media platforms