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Blockchain Exam Q&S Latest Update
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Blockchain Exam Q&S Latest Update
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Blockchain Exam Q&S Latest UpdateMost successful hacks that occur today are conducted through: - Answer
social engineering
Charging a fee, similar to a premium, for every transaction, Blank______ offer an easy
way for cryptocurrency novices to gain trading experience. - Answer
cryptocurrency brokerage firms
Select three categories of risks associated with cryptocurrency trading. - Answer scams
and fraud
volatility
hacking
One scam, which occurred with a cryptocurrency called Squid, is where developers
create a new cryptocurrency, use social media to create hype about the coin, and then
delete the blockchain itself, leaving investors with absolutely nothing. This is known as:
- Answer rug pull
An advantage of using a peer-to-peer (P2P) cryptocurrency exchange is that: -
Answer P2P exchanges have low or no transaction fees
P2P exchanges have low or no transaction fees - Answer social engineering
, Because cryptocurrency is very liquid, and it has no intrinsic value other than the faith
that holders place in the currency, its price tends to be very ___. - Answer volatile
Unlike coins, NFTs do not reside on one specific ___. - Answer blockchain
To purchase Ethereum with Bitcoin, you would use a wrapped Bitcoin (wBTC) to
create what is referred to as a wrapped ___. - Answer token
The price of conducting transactions on blockchains is known as the ___. - Answer
gas fee
The biggest risk for cryptocurrency investors remains the extreme of the cryptocurrency
market. - Answer changes
Bitcoin and Litecoin, because they are established proof-of-work (PoW) coins,
are considered __. - Answer store-of-value coins
If you purchase Ethereum (coins), the transaction operates on the Blank______
blockchain, since it is a native coin. - Answer Ethereum
Aside from a single vulnerability, found and corrected in April 2010, no flaw in the ___
has been discovered. - Answer Bitcoin blockchain
If you wish to purchase Ethereum (ETH) with your Bitcoin (BTC), you would use
wBTC, which stands for a Bitcoin token. - Answer wrapped
When first executing decentralized financial (DeFi) transactions, developers were paid
in Ethereum, which was recorded as GWEI or one-billionth of an Ethereum coin. GWEI
became known as ether or simply ___. - Answer gas
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