Smart Contracts & Ethereum Network

The Ethereum Virtual Machine (EVM) is:

• A physical machine in Ethereum data centers

• A distributed computing environment that runs smart contracts

• A wallet for Ether

• A mining hardware unit

What is a Smart Contract?

• A legal contract written on paper

• A self-executing program with predefined rules stored on a blockchain

• A digital signature used for authentication

• A document stored in a decentralized database

Which blockchain is most associated with the popularization of smart contracts?

• Bitcoin

• Ethereum

• Ripple

• Litecoin

Ether (ETH) in the Ethereum network is primarily used for:

• Playing online games

• Paying gas fees and executing transactions

• Sending emails

• Mining Bitcoin

In Ethereum, 'Gas' refers to:

• Fuel for mining machines

• The cost of executing operations on the blockchain

• Data storage fees

• Network bandwidth usage

One key feature of a DApp is that it is:

• Owned by a single company

• Open-source and decentralized

• Only accessible via a mobile app

• Built only on Ethereum

Gas fees are measured in:

• Bitcoins

• Gwei

• USD

• Blocks

A DAO (Decentralized Autonomous Organization) is:

• A traditional company registered with the government

• A blockchain-based entity governed by smart contracts

• A cryptocurrency exchange

• A type of stablecoin

A Hard Fork in a blockchain results in:

• Temporary network slowdown

• A permanent split creating two separate blockchains

• A soft upgrade without breaking compatibility

• Removal of old blocks

Which of the following best describes a DAO's governance model?

• Centralized decision-making by executives

• Decisions are made collectively by token holders

• Controlled by one programmer

• Based on offline voting only