The Evolution of Money: Gold, Trust or Code?

For much of history, currency has been a representation of value, backed by tangible assets like gold. Many still believe that the US dollar is tied to gold reserves. The truth? It hasn’t been since 1971. Today, the dollar is backed solely by trust – trust in the government, the economy and the i…[Read more]

Why is blockchain technology important for voting systems?
A) It keeps votes private.
B) It ensures fair and transparent counting.
C) It makes voting faster.
D) It replaces physical voting booths.

Answer: B) It ensures fair and transparent counting.
Explanation: Blockchain technology ensures that votes are counted accurately and securely,…[Read more]

What does ‘decentralization’ mean in the context of blockchain?
A) Control by a single organization
B) Distribution of control across many participants
C) Use of physical ledgers
D) Centralized server management

Answer: B) Distribution of control across many participants
Explanation: Decentralization in blockchain means that control is shared…[Read more]

Which cryptocurrency is known for its Shiba Inu dog mascot?
A) Bitcoin
B) Ethereum
C) Dogecoin
D) Litecoin

Answer: C) Dogecoin
Explanation: Dogecoin is known for its Shiba Inu dog mascot and was originally created as a joke.

What is a ‘smart contract’?
A) A legal document for buying real estate
B) A self-executing contract with terms written in code on a blockchain
C) A type of bank agreement
D) A physical contract used in transactions

Answer: B) A self-executing contract with terms written in code on a blockchain
Explanation: A smart contract automatically exe…[Read more]

Which of the following is NOT a type of cryptocurrency?
A) Bitcoin
B) Ethereum
C) Dogecoin
D) Paypal

Answer: D) Paypal
Explanation: Paypal is a digital payment service, not a cryptocurrency.

What should you do if you lose access to your cryptocurrency wallet?
A) Ignore it
B) Contact the wallet provider and use your backup
C) Try to hack into it
D) Delete the wallet

Answer: B) Contact the wallet provider and use your backup
Explanation: If you lose access to your wallet, you should contact the provider and use your backup to recover…[Read more]

What is the purpose of a ‘hash’ in a blockchain?
A) To link blocks together
B) To identify and secure each block uniquely
C) To manage digital wallets
D) To store user passwords

Answer: B) To identify and secure each block uniquely
Explanation: A hash is a unique code for each block in the blockchain, ensuring its security and integrity.

How does blockchain technology ensure security?
A) By using encryption and decentralization
B) By storing data in physical ledgers
C) By limiting access to banks
D) By using paper records

Answer: A) By using encryption and decentralization
Explanation: Blockchain technology ensures security through encryption and decentralization, making it…[Read more]

What is an NFT?
A) A type of cryptocurrency
B) A unique digital collectible
C) A blockchain ledger
D) A financial bank account

Answer: B) A unique digital collectible
Explanation: NFTs, or Non-Fungible Tokens, are unique digital items verified using blockchain technology.

What does a blockchain consist of?
A) A series of physical books
B) A series of digital blocks linked together
C) A type of physical ledger
D) A financial institution

Answer: B) A series of digital blocks linked together
Explanation: A blockchain is a digital ledger consisting of blocks of information linked in a chain.

Which of the following is the first cryptocurrency?
A) Ethereum
B) Bitcoin
C) Dogecoin
D) Litecoin

Answer: B) Bitcoin
Explanation: Bitcoin was the first cryptocurrency, created in 2009 by Satoshi Nakamoto.

What is a cryptocurrency?
A) A type of paper money
B) A digital or virtual form of money using encryption
C) A physical coin
D) A bank account

Answer: B) A digital or virtual form of money using encryption
Explanation: Cryptocurrency is digital money that uses encryption for security and operates on blockchain technology.

What is barter?
A) Trading goods and services directly without money
B) A type of cryptocurrency
C) A digital wallet
D) A form of physical money

Answer: A) Trading goods and services directly without money
Explanation: Barter is the system of exchanging goods or services directly without using money.