A. A new version of the World Wide Web
B. A decentralized web powered by blockchain
C. A new social media platform
D. A cloud storage platform
Correct! Web3 is a decentralized web powered by blockchain technology.
2. What is the main purpose of a smart contract?
A. To act as a virtual machine
B. To automate and enforce agreements using code
C. To transfer files
D. To store images
Correct! A smart contract is code that automates and enforces agreements on the blockchain.
3. Which of the following is an example of a Web3 application?
A. Facebook
B. Amazon Web Services
C. OpenSea
D. Google Drive
Correct! OpenSea is a decentralized Web3 application for buying and selling NFTs.
4. What is the purpose of MetaMask in Web3?
A. It is a cloud storage service
B. It is a decentralized app (dApp)
C. It is a wallet for managing cryptocurrency and interacting with dApps
D. It is a social media platform
Correct! MetaMask is a wallet for managing cryptocurrency and interacting with dApps in Web3.
5. What is a Non-Fungible Token (NFT)?
A. A type of cryptocurrency
B. A unique digital asset on the blockchain
C. A programming language
D. A token that is identical to others
Correct! NFTs are unique digital assets on the blockchain.
6. What blockchain is most commonly used for Web3 applications?
A. Bitcoin
B. Litecoin
C. Ethereum
D. Ripple
Correct! Ethereum is the most commonly used blockchain for Web3 applications due to its support for smart contracts.
7. What is DeFi (Decentralized Finance)?
A. A new kind of cryptocurrency
B. Traditional banking services
C. A decentralized financial system built on blockchain
D. A cloud-based payment system
Correct! DeFi is a decentralized financial system built on blockchain technology, allowing peer-to-peer financial services.
8. What are gas fees?
A. Fees paid for gas in your car
B. Fees paid to miners for processing blockchain transactions
C. Fees paid for storage
D. Fees for web hosting
Correct! Gas fees are paid to miners to process transactions on the blockchain.
9. Which wallet is commonly used to interact with Web3 dApps?
A. PayPal
B. MetaMask
C. Venmo
D. Apple Wallet
Correct! MetaMask is a popular wallet for interacting with Web3 dApps.
10. What is the main advantage of decentralized applications (dApps)?
A. Centralized control
B. Greater transparency and user control
C. Faster customer support
D. No development costs
Correct! dApps offer greater transparency and user control due to their decentralized nature.