Q11. What is an NFT?
Correct: Non-Fungible Token
NFTs are unique digital assets representing ownership of items.
Q12. What is the purpose of a cryptocurrency exchange?
Correct: To buy, sell, and trade cryptocurrencies
Exchanges like Binance or Coinbase facilitate trading between users.
Q13. Which network upgrade transitioned Ethereum to Proof of Stake?
Correct: The Merge
The Merge in 2022 shifted Ethereum from Proof of Work to Proof of Stake.
Q14. What is a 'fork' in blockchain?
Correct: A change in protocol creating two versions
Forks can be soft (backward-compatible) or hard (not compatible).
Q15. Which cryptocurrency focuses on privacy?
Correct: Monero
Monero uses ring signatures and stealth addresses for anonymity.
Q16. What does ICO stand for?
Correct: Initial Coin Offering
ICO is a fundraising method where new tokens are sold to investors.
Q17. What is gas in Ethereum?
Correct: Fee for transactions and computations
Gas measures the computational effort required for actions on the network.
Q18. Which is the native token of the Binance Smart Chain?
Correct: BNB
BNB is used for fees and staking on the Binance ecosystem.
Q19. What is a stablecoin?
Correct: Cryptocurrency pegged to a stable asset
Stablecoins like USDT maintain a stable value, often pegged to USD.
Q20. What is the halving event in Bitcoin?
Correct: Reduction in mining rewards every 4 years
Halving controls inflation by halving the reward for mining new blocks.
Page 2 of 5