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Beginners in web3 quiz

The five elements of public blockchain are distribution, encryption, immutability, tokenization and:

Transparency

Authorization

Privacy

Efficiency

True or false: Smart contracts are legally binding contracts.

True

False

One of the principles of web3 is interacting with the web using pieces of digital content/data that you OWN.

Yes

Which of the following is the main concept used by a blockchain to create new blocks?

Consensus Algorithms

Decentralization

Peer to peer network

Cryptography

.. Is a type of consensus algorithm where a person can mine or validate block transactions according to how many coins they hold.

Proof of Work

Proof of Stake

Which of these are the tasks for a validator node?

Verifying txs

Voting on txs

Maintain a record of txs

All of the above

What are stablecoins?

Their value is always pegged to US Dollars

Their price varies according to a an algorithm

Their value remains stable due to a peg with a currency

None of the above

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