Q21. Which protocol allows cross-chain transactions?
Correct: Polkadot
Polkadot connects multiple blockchains for interoperability.
Q22. What is a DAO?
Correct: Decentralized Autonomous Organization
DAOs are member-owned communities without central leadership.
Q23. Which cryptocurrency is used for fast, low-cost payments?
Correct: Ripple (XRP)
Ripple focuses on international money transfers.
Q24. What is yield farming in DeFi?
Correct: Earning rewards by providing liquidity
Users lock up funds in liquidity pools to earn interest or tokens.
Q25. What does CBDC stand for?
Correct: Central Bank Digital Currency
CBDCs are digital versions of fiat money issued by central banks.
Q26. Which is the first cryptocurrency?
Correct: Bitcoin
Bitcoin was introduced in 2009 as the first decentralized cryptocurrency.
Q27. What is a private key?
Correct: Secret code to access and spend crypto
Private keys must be kept secure to prevent unauthorized access.
Q28. Which consensus uses energy-efficient validation?
Correct: Proof of Stake
PoS selects validators based on staked coins, reducing energy use.
Q29. What is Web3?
Correct: Decentralized internet using blockchain
Web3 emphasizes user ownership and decentralization.
Q30. Which token standard is used for NFTs on Ethereum?
Correct: ERC-721
ERC-721 defines unique, non-interchangeable tokens.
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