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Quiz:
Answer:
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Inter-Blockchain Communication (IBC) Protocol
Question 1: What is the primary purpose of the Inter-Blockchain Communication (IBC) protocol?
Answer: B) To enable interoperability between different blockchains.
Question 2: Which blockchain ecosystem is most closely associated with the IBC protocol?
Answer: D) Cosmos.
Question 3: What type of architecture does IBC follow for cross-chain communication?
Answer: A) Hub-and-Spoke.
Question 4: What is the primary role of a “relayer” in the IBC protocol?
Answer: C) Transfers packets of data between blockchains.
Question 5: What would happen if an IBC relayer goes offline?
Answer: B) Packets stop moving until another relayer picks them up.
Cosmos Blockchain
Question 1: What is the main purpose of the Cosmos network in blockchain?
Answer: D) To enable cross-chain interoperability
Question 2: Which consensus mechanism does Cosmos use in its Tendermint core?
Answer: D) Tendermint BFT
Question 3: What is the primary token of the Cosmos ecosystem?
Answer: A) ATOM
Question 4: What role does the Cosmos Hub play in the network?
Answer: A) It acts as a centralized database
Algorand Blockchain
Question 1: What is the primary purpose of a fan token in the cryptocurrency ecosystem?
Answer: A) To allow fans to interact and influence team decisions.
Question 2: Which platform is widely known for launching fan tokens for major sports teams?
Answer: B) Socios.com.
Question 3: Fan tokens are typically built on which blockchain standard?
Answer: D) ERC-20.
Question 4: What is a unique feature of fan tokens compared to regular cryptocurrencies?
Answer: A) They are used for NFT staking.
Fan Token
Question 1: What is the primary purpose of a fan token in the cryptocurrency ecosystem?
Answer: A) To allow fans to interact and influence team decisions
Question 2: Which platform is widely known for launching fan tokens for major sports teams?
Answer: B) Socios.com
Question 3: Fan tokens are typically built on which blockchain standard?
Answer: D) ERC-20
Question 4: What is a unique feature of fan tokens compared to regular cryptocurrencies?
Answer: A) They are used for NFT staking
Question 1: What does “token deflation” generally refer to in crypto?
Answer: B) Decreasing token supply over time.
Question 2: Which mechanism is commonly used to create token deflation?
Answer: C) Token burning.
Question 3: Why do projects introduce token deflation mechanisms?
Answer: A) To increase scarcity and potentially value.
Question 4: Which of these cryptocurrencies introduced a major deflationary mechanism through EIP-9959?
Answer: B) Ethereum.
Question 1: What is liquid staking in cryptocurrency?
Answer: A) Staking tokens while retaining liquidity through derivatives.
Question 2: Which of the following is a primary benefit of liquid staking?
Answer: B) Allows tokens to be traded while still earning staking rewards.
Question 3: What do liquid staking platforms typically issue to users?
Answer: ) Derivative tokens representing staked assets.
Question 4: Which protocol is well-known for enabling liquid staking on Ethereum?
Answer: D) Lido.
Question 5: What is the typical reason users prefer liquid staking over traditional staking?
Answer: C) Ability to unstake immediately without waiting period.
Question 1: What does ENS stand for in cryptocurrency?
Answer: B) Ethereum Name Service
Question 2: What is the main purpose of ENS?
Answer: C) Converting Ethereum addresses into readable names
Question 3: ENS domains typically end with which extension?
Answer: A) .eth
Question 4: Which blockchain does ENS primarily operate on?
Answer: D) Ethereum.
Question 1: What is the main function of a Layer 0 protocol in blockchain architecture?
Answer: A) Providing the base infrastructure for multiple Layer 1 blockchains.
Question 2: Which of the following is a well-known Layer 0 protocol?
Answer: C) Polkadot.
Question 3: Cosmos is a Layer 0 protocol that uses what communication standard?
Answer: B) IBC (Inter-Blockchain Communication).
Question 4: Which of these is a key benefit of Layer 0 protocols?
Answer: C) Enhanced interoperability.
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Deepak Choudhary is a solid two years of writing experience and crypto enthusiast. He writes about blockchain games, Telegram games, and tap-to-earn platform. Like his audience, he writes with clarity, simplicity, and lots of useful tips in his articles. He helps those unfamiliar with various aspects of crypto world in a very simple way. He also provides regular updates on the fast growing world of blockchain, with great articles covering current and expected trends and guides. His writings on crypto games as well as crypto earning apps on Telegram are quite useful and informative for people novice and experienced. His aim is to help more people explore and profit from Web3 ecosystem.