Vanderbilt Blockchain - Intro to Web3
What is a Decentralized App (DApp)?
An app/site that connects to the blockchain
A blockchain
A DeFi protocol
A smart contract variable
In web3 context, what does ATH stand for?
At The House
All The Highs
All Time High
Available To Hire
How do miners coordinate without a central authority?
Org to Org
DApps
DAOs
Peer to Peer
What was the first blockchain to gain user adoption?
Bitcoin
NEAR
Ethereum
Luna
What is a stablecoin?
Cryptocurrencies that are pegged to the US dollar
A coin to flip NFTs
A DeFi protocol
Cryptocurrencies that bring the strongest ROI
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 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 consensus method is Ethereum updating to?
Proof of History
Proof of Stake
Proof of Work
Proof of Zero Knowledge
Who is the founder of Bitcoin?
Vitalik Buterin
Satoshi Nakamoto
Anatoly Yakovenko
Nick Szabo
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
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
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 the cap amount of Bitcoins?
11 million
1 Billion
21 Million
No Cap
What is a protocol?
Scientific theories
Math formulas to solve computation power
A system of rules
Scientific documents for universities
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
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 a private key?
What gives the digital signature approval
Your seed phrase
The address you give to people
A hardware wallet
What does immutable mean?
Self inflected mutations
not capable of changing
a web3 protocol
a strong element
What does DeFi stand for?
Defending Finance
Developing Finance
Decentralized Finance
Deglobalized Finance
Which one of these is a wallet provider?
Chase Bank
Gucci
Meta
Metamask
What is the best way to store your seed phrase?
On Google Docs
Text it to a friend
Write it down and save it somewhere safe
On your phone in your notes
What can you do with a wallet?
Purchase NFTs
Send/transfer crypto/funds
Sign into different DApps
All of the above
True or False: Gas varies depending on what chain you use
True
False
True or False: I can send my friend Eth to her wallet if I have her address?
True
False
When should you share your seed phrase?
When people ask for it?
When joining up for a DAO
When buying an NFT
Never share your seed phrase
True or False: Can you create more than 1 wallet?
True
False
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