The Cryptocurrency Quiz: How Much Do You Know About Bitcoin and Crypto Technologies

Editorial and Content Intern, TRANSFIN
Feb 18, 2021 2:12 PM 5 min play

Cryptocurrencies have come a long way. From being long-short and speculative instruments, they are now just speculative instruments!

We know they are rallying high, but do we know how they work? What business models do they run on? And, what are the subtelties and mechanisms involved in their functioning? 

Worry no further, for all your queries are molded into these cohesive quiz. 

Take the quiz to find out more about the operational details and logistics of cryptocurrencies.

But first, here's a quick view of what you may find in store ahead!

  1. What is the name of the micronation that was born in 2015 and adopted Bitcoin as its national currency?
  2. Which of the following is NOT a limitation of the Proof of Work (PoW) model of cryptocurrencies?
  3. Which one of the following is a partial exception to the decentralised blockchain principle employed in the working of cryptocurrencies?
  4. Fill in the blank. Litecoin can accumulate more number of cryptocurrencies in its network, which is _______, compared to 21 million for Bitcoin.
  5. Dogecoin was created as a prototype of Peercoin, which is based on Litecoin Technology. True or False?
  6. What is the smart contract technology that allows exchanging of one cryptocurrency for another without a centralised intermediary?
  7. Which was the first blockchain project that introduced a hybrid of the PoW and PoS models?
  8. What is the name of the cryptocurrency that uses a consensus mechanism through a group of servers to confirm transactions, instead of blockchain?
  9. Which cryptocurrency had the largest Initial Coin Offering (ICO) in history?
  10. Which was the first city in the world to install a Bitcoin cash machine, aka, ATM?


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