Web3 Mega Quiz

What was the internet's first official name?
Who wrote the protocol proposal for the world wide web?
Bill Gates
Marc Andreessen
Tim Berners-Lee
Larry Page
What retrieves and sends information on the internet?
What is the protocol for the websites to send information?
What do web3 apps have that web2 apps don't have?
SSI Certificates
What is a blockchain?
A virtual reality headset used to replicate the human senses
A new protocol on the internet
A database that has no owner, is distributed, and is immutable
An algorithm to share data
What does immutable mean?
Self inflected mutations
not capable of changing
a web3 protocol
a strong element
What was the first blockchain to gain user adoption?
Who is the founder of Bitcoin?
Vitalik Buterin
Satoshi Nakamoto
Anatoly Yakovenko
Nick Szabo
What year was the bitcoin whitepaper published?
What major monetary problem did Bitcoin solve?
Proof of stake
What is the double-spend problem?
When someone could simultaneously spend a digital currency more than once
Swapping credits and debits
Converting fiat to crypto
Moving a cryptocurrency to another cryptocurrency
Where does a transaction go before it gets approved?
Block Header
Unconfirmed Transaction Pool
Genesis Block
Who validates the transaction activity?
Central Exchanges
Decentralized Exchanges
How do miners coordinate without a central authority?
Org to Org
Peer to peer
What is a consensus mechanism?
A fault-tolerant mechanism that is used in to achieve the necessary agreement on
A voting mechanism for new miners
An encryption forumla
How hot wallets sync with cold wallets
What is the cap amount of Bitcoins
11 million
1 Billion
21 Million
No Cap
What consensus mechanism does Bitcoin use?
Proof of Work
Proof of Stake
Nakamoto Consensus
Proof of History
What consensus mechanism is Ethereum updating to?
Proof of History
Proof of Stake
Proof of Work
Proof of Zero Knowledge
What is the purpose of the Ethereum Virtual Machine (EVM)?
Mine NFTs
Merge Ethereum to Bitcoin
Determine what the overall state of Ethereum
Coordinate all ERC-20 tokens
What is Ethereum’s Currency name?
What is proof of work?
A system that requires a feasible amount of computing power
A system where owners of the cryptocurrency stake and validate transactions
A system where miners need to showcase past experience to get approved
Miners and traders coordinating to swap crypto
What is a protocol?
Scientific theories
Math formulas to solve computation power
A system of rules
Scientific documents for universities
What does a bitcoin block contain?
Nonce, timestamp, merkle root
Id number, nonce, timestamp, previous block hash, and its merkle root
Timestamp & nonce
Genesis block, merkle root, nonce
What is a hash?
Encrypted output of information that can be used as digital identifier
A programming language
The H in HTTPs
A blockchain's consensus algorithm
What is a smart contract?
A contract written by technical lawyers
Code that executes autonomously
Bitcoin's mining process
Legal documents the FED gives to blockchain associations
Which is an encryption formula used in Blockchain?
What is a Nonce?
A famous whitepaper
A smart contract variable
A formula
A number used once to mine the next block
What is the purpose of a Nonce?
Yield the hash for the block
Hash all variables in smart contracts
Allow miners to bid for the next block
Fix the blockchain Trilemma
What are the variables to the blockchain Trilemma?
Scalability, sustainability, security
Scalability, security, decentralization
Decentralization, defending, deducting
Security, saving, satisfaction
What is the term for the live production of a blockchain?
Production net
Development Net
What is gas?
The code for blockchains
A blockchain development environment
The cloud that hosts blockchains
The unit that measures the amount of computational effort required
What are gas fees?
Amount a user has to pay miners to get their transaction onto the blockchain
Paying cloud providers for hosting
What shadowy developers use as currency
Satoshi's processing fees
What is an ICO?
Inner Coin Offer
Initial Coin Offering
Internet Coin Options
Internet Calling Operations
What is Cryptoeconomics?
The study on how to mine effectively
The study on how coins can moon
The study, analysis, and design of economies built on blockchain infrastructure
The study of how developers can program blockchains
What is the difference between Cryptoeconomics and Tokenomics?
Cryptoeconomics focuses at a global level and tokenomics at a country level
No difference
Cryptoeconomics is about the technical and tokenomics is the marketing
Cryptoeconomics focuses on a blockchain, and tokenomics focuses on a token
Which best describes the definition of economics?
Analysis of the production, distribution, and consumption of goods and services
Macro-viewpoints of the world
Micro-viewpoints of the world
Mathematical process on quantifying value
What best describes an economy?
How money is created
The production, distribution, and consumption of goods and services by agents
The financial debt a country owes
What blockchains use to quantify value
What is a ledger?
A safety mechanism for blockchain
A hashing process
A book that registers economic activity
An economic algorithm
What is an economic agent?
A secret inspector viewing the economy
The government official promoting the economy
A person in the economy
Any entity that are decision-makers in some aspect of the economy
What types of values are there?
Extrinsic and Intrinsic
False and True
What is double-entry bookkeeping?
A hashing process
Tracking credits and debits of transactions
Zero-knowledge validation
Paying for dividends
What can be defined as extrinsic value?
Extra value
Inner value
The value used to help us get something else
The collective value of society
What can be defined as intrinsic value?
False Value
Calculated value
Financial value
Value “in itself"
What is an incentive?
Something that motivates an individual to perform an action
Something that can not be disproven
An economic formula to increase GDP
A smart contract variable
What is the difference between a coin and a token?
A coin is tangible and token is not
A coin is the blockchain's asset. A token is an asset created on a blockchain
A token can be redeemed and a coin can not
No difference
What is a blockchain's market cap?
A financial model to predict how many coins are left
A marketing program each blockchain has
The total economic value of a blockchain
A blockchain's value based on bitcoin
How is the market cap calculated?
Amount of engagement the blockchain gets
Number of transactions each blockchain gets
Forecast the expected growth and multiple the current price point
The price per coin multiplied by how many coins are in circulation
What is a CEX?
Centralized Exchange
Center Exchanging
Call Exchange
Center Expense
What is a DEX?
Denominator Expense
Decentralized Exchange
Decentralized Expenses
Decentralized Exponents
What does DeFi stand for?
Defending Finance
Developing Finance
Decentralized Finance
Deglobalized Finance
What is a liquidity pool?
A CEX's asset pool
A CEX's token vault
Funds allocated for investors to make returns on tokens
Funds inside a smart contract that handles transactions automatically
What do AMM (Automated Market Maker) do?
Allow for liquidity to happen at any time in liquidity pools
Merge with CEXs for market orders
Increase the demand for a currency
Write smart contracts for DeFi
What is staking?
A way to cook
Verifying transactions to allow people to earn rewards on their holdings
Proof of work's mechanism
A way to mint NFTs
What is Yearn?
A consensus mechanism
A protocol for DeFi
The returns on staking
A DeFi smart contract
What is a flash loan?
A fast defi transaction to flip tokens
A fast defi transaction to flip coins
A loan to buy NFTs for a quick flip
Loans where the principal amount is paid back within the same transaction
What is a stable coin?
Cryptocurrencies that are pegged to the US dollar
A coin to flip NFTs
A DeFi protocol
Cryptocurrencies that bring the strongest ROI
What is the value of stable coins?
Fast flips for NFTs
Privacy and security of crypto while offering the stability of fiat money
Guaranteed returns on trades
Anonymous trades
How are stable coins backed?
Bitcoin liquidity pools
Fiat collateralization or algorithmically on smart contracts
Automated market makers
What is a public key?
A wallet's hash
A wallet's API bridge
What is used for a digital signature
An address that is available for anyone to see
What is a private key?
What gives the digital signature approval
Your seed phrase
The address you give to people
A hardware wallet
What is a seed phrase?
An NFT insider joke
A collection of words that grant access to your wallet
Your wallet's hash
The genesis block's ID
In encryption having two types of keys is known as?
Binary Encryption
Dual Encryption
Asymmetric Encryption
Quantum Encryption
What is a hot wallet?
A software wallet
A burner wallet
A wallet being tracked by the government
A wallet that has valuable NFTs
What is a cold wallet?
A wallet that is frozen
A hardware wallet that keeps your crypto offline
A wallet that lost its password
An illegal wallet that has been captured by the government
What is an NFT (non-fungible token)?
An asset
A piece of artwork
An identifier for a token that is one of a kind & its ownership is on chain
A security that is expected to yield returns
What makes an NFT nonfungible?
The blockchain it is on
The marketing behind it
The interoperability between the chains
Unique value and can not be equally interchanged for other assets.
What is an example of something fungible?
Art pieces
What gives an NFT value?
Extrinsic and Intrinsic value
The artist
What is speculation?
Stability investing
The purchase of an asset with the hope that it will become more valuable
Algorithmic calculation on an asset
Stable coin investing
What is a DAO?
Dedicated Automated Organization
Decentralized Asset Organization
Decentralized Autonomous Organization
Digital Asset Organizations
What is known as Alpha?
Initial term for minting
Blue chip projects
Elite NFT projects
Valuable or insider information
What is known as Aping?
Illogically buying into something
Buying an animal NFT
Minting an ape NFT
Making your profile picture an ape
In web3 context, what does ATH stand for?
At The House
All The Highs
All Time High
Available to Hire
What does Bearish mean?
To get comfortable in the space
Pessimistic view of market/asset
Adapt to cultural norms
Optimistic view of the market/asset
What does Bullish mean?
Get angry
Optimistic view of the market/asset
Pessimistic view of market/asset
Get hyper active on social media
What is a Decentralized App (DApp)?
An app/site that connects to the blockchain
A blockchain
A DeFi Protocol
A smart contract variable
What does DYOR mean?
Do your own research
Did you own recently
Don't yield over returns
Do you order recently
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