Web3 solved MCQs What is Web3? a) A decentralized version of the internet b) A centralized version of the internet c) A social media plat...
Web3 solved MCQs
What is Web3?
a) A decentralized version of the internet
b) A centralized version of the internet
c) A social media platform
d) A cloud computing service
Answer: a) A decentralized version of the internetWhat is the primary goal of Web3?
a) To create a user-owned internet
b) To centralize data storage
c) To replace traditional banking
d) To improve social media algorithms
Answer: a) To create a user-owned internetWhich technology is the foundation of Web3?
a) Blockchain
b) Cloud computing
c) Artificial intelligence
d) Virtual reality
Answer: a) BlockchainWhat is a decentralized application (dApp)?
a) An app that runs on a centralized server
b) An app that runs on a blockchain network
c) A mobile app
d) A desktop app
Answer: b) An app that runs on a blockchain networkWhich of the following is a key feature of Web3?
a) Decentralization
b) Centralization
c) Data silos
d) Corporate control
Answer: a) DecentralizationWhat is the role of smart contracts in Web3?
a) To automate and enforce agreements without intermediaries
b) To store user data
c) To provide internet connectivity
d) To create social media platforms
Answer: a) To automate and enforce agreements without intermediariesWhich blockchain is most commonly associated with Web3 development?
a) Bitcoin
b) Ethereum
c) Ripple
d) Litecoin
Answer: b) EthereumWhat is a DAO in Web3?
a) A decentralized autonomous organization
b) A centralized organization
c) A government agency
d) A social media group
Answer: a) A decentralized autonomous organizationWhat is the purpose of a token in Web3?
a) To represent ownership or access rights
b) To store data
c) To provide internet connectivity
d) To replace fiat currency
Answer: a) To represent ownership or access rightsWhat is the difference between Web2 and Web3?
a) Web2 is centralized, while Web3 is decentralized
b) Web2 is decentralized, while Web3 is centralized
c) Web2 uses blockchain, while Web3 does not
d) Web2 is user-owned, while Web3 is corporate-owned
Answer: a) Web2 is centralized, while Web3 is decentralizedWhat is the role of IPFS in Web3?
a) To provide decentralized file storage
b) To provide centralized file storage
c) To provide internet connectivity
d) To create social media platforms
Answer: a) To provide decentralized file storageWhat is the purpose of a cryptocurrency wallet in Web3?
a) To store private keys and manage digital assets
b) To store physical cash
c) To provide internet connectivity
d) To create social media accounts
Answer: a) To store private keys and manage digital assetsWhat is the term for the process of earning rewards for participating in a blockchain network?
a) Staking
b) Mining
c) Trading
d) Lending
Answer: a) StakingWhat is the purpose of a decentralized exchange (DEX) in Web3?
a) To enable peer-to-peer trading without intermediaries
b) To store digital assets
c) To provide internet connectivity
d) To create social media platforms
Answer: a) To enable peer-to-peer trading without intermediariesWhich of the following is an example of a DEX?
a) Uniswap
b) Binance
c) Coinbase
d) Kraken
Answer: a) UniswapWhat is the purpose of a governance token in Web3?
a) To allow holders to vote on protocol changes
b) To store data
c) To provide internet connectivity
d) To replace fiat currency
Answer: a) To allow holders to vote on protocol changesWhat is the term for the process of locking cryptocurrencies in a smart contract to provide liquidity?
a) Liquidity mining
b) Staking
c) Trading
d) Lending
Answer: a) Liquidity miningWhat is the purpose of a decentralized identity (DID) in Web3?
a) To provide user-controlled digital identities
b) To store data
c) To provide internet connectivity
d) To replace social media accounts
Answer: a) To provide user-controlled digital identitiesWhat is the term for the process of creating a new blockchain?
a) Forking
b) Mining
c) Staking
d) Trading
Answer: a) ForkingWhat is the purpose of a layer-2 solution in Web3?
a) To improve scalability and reduce transaction costs
b) To store data
c) To provide internet connectivity
d) To create social media platforms
Answer: a) To improve scalability and reduce transaction costsWhich of the following is an example of a layer-2 solution?
a) Polygon
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) PolygonWhat is the purpose of an oracle in Web3?
a) To provide external data to smart contracts
b) To store data
c) To provide internet connectivity
d) To create social media platforms
Answer: a) To provide external data to smart contractsWhich of the following is an example of an oracle?
a) Chainlink
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) ChainlinkWhat is the purpose of a stablecoin in Web3?
a) To provide price stability by pegging to a reserve asset
b) To store data
c) To provide internet connectivity
d) To replace fiat currency
Answer: a) To provide price stability by pegging to a reserve assetWhich of the following is an example of a stablecoin?
a) Tether (USDT)
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) Tether (USDT)What is the purpose of a non-fungible token (NFT) in Web3?
a) To represent unique digital assets
b) To store data
c) To provide internet connectivity
d) To replace fiat currency
Answer: a) To represent unique digital assetsWhich of the following is an example of an NFT marketplace?
a) OpenSea
b) Binance
c) Coinbase
d) Kraken
Answer: a) OpenSeaWhat is the purpose of a metaverse in Web3?
a) To create immersive virtual worlds
b) To store data
c) To provide internet connectivity
d) To replace social media platforms
Answer: a) To create immersive virtual worldsWhich of the following is an example of a metaverse project?
a) Decentraland
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) DecentralandWhat is the purpose of a decentralized finance (DeFi) platform in Web3?
a) To provide financial services without intermediaries
b) To store data
c) To provide internet connectivity
d) To replace traditional banks
Answer: a) To provide financial services without intermediariesWhich of the following is an example of a DeFi platform?
a) Aave
b) Binance
c) Coinbase
d) Kraken
Answer: a) AaveWhat is the purpose of a yield farming protocol in Web3?
a) To earn rewards by providing liquidity
b) To store data
c) To provide internet connectivity
d) To replace traditional banks
Answer: a) To earn rewards by providing liquidityWhat is the purpose of a decentralized storage network in Web3?
a) To store data in a decentralized manner
b) To provide internet connectivity
c) To create social media platforms
d) To replace traditional banks
Answer: a) To store data in a decentralized mannerWhich of the following is an example of a decentralized storage network?
a) Filecoin
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) FilecoinWhat is the purpose of a cross-chain bridge in Web3?
a) To enable interoperability between blockchains
b) To store data
c) To provide internet connectivity
d) To replace traditional banks
Answer: a) To enable interoperability between blockchainsWhich of the following is an example of a cross-chain bridge?
a) Polkadot
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) PolkadotWhat is the purpose of a zero-knowledge proof in Web3?
a) To verify transactions without revealing sensitive data
b) To store data
c) To provide internet connectivity
d) To replace traditional banks
Answer: a) To verify transactions without revealing sensitive dataWhich of the following is an example of a zero-knowledge proof protocol?
a) zk-SNARKs
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) zk-SNARKsWhat is the purpose of a decentralized autonomous organization (DAO) in Web3?
a) To enable community-driven governance
b) To store data
c) To provide internet connectivity
d) To replace traditional banks
Answer: a) To enable community-driven governanceWhich of the following is an example of a DAO?
a) MakerDAO
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) MakerDAOWhat is the purpose of a gas fee in Web3?
a) To pay for transaction processing on a blockchain
b) To store data
c) To provide internet connectivity
d) To replace traditional banks
Answer: a) To pay for transaction processing on a blockchainWhich of the following is an example of a blockchain with low gas fees?
a) Solana
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) SolanaWhat is the purpose of a consensus mechanism in Web3?
a) To validate transactions and secure the network
b) To store data
c) To provide internet connectivity
d) To replace traditional banks
Answer: a) To validate transactions and secure the networkWhich of the following is an example of a consensus mechanism?
a) Proof of Stake (PoS)
b) Proof of Work (PoW)
c) Delegated Proof of Stake (DPoS)
d) All of the above
Answer: d) All of the aboveWhat is the purpose of a sidechain in Web3?
a) To enable faster and cheaper transactions
b) To store data
c) To provide internet connectivity
d) To replace traditional banks
Answer: a) To enable faster and cheaper transactionsWhich of the following is an example of a sidechain?
a) Polygon
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) PolygonWhat is the purpose of a decentralized domain name system (DNS) in Web3?
a) To provide human-readable addresses for blockchain resources
b) To store data
c) To provide internet connectivity
d) To replace traditional banks
Answer: a) To provide human-readable addresses for blockchain resourcesWhich of the following is an example of a decentralized DNS?
a) ENS (Ethereum Name Service)
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) ENS (Ethereum Name Service)What is the purpose of a decentralized identity (DID) in Web3?
a) To provide user-controlled digital identities
b) To store data
c) To provide internet connectivity
d) To replace social media accounts
Answer: a) To provide user-controlled digital identitiesWhich of the following is an example of a DID protocol?
a) Sovrin
b) Ethereum
c) Bitcoin
d) Ripple
Answer: a) Sovrin
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