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Cryptocurrency FE 7
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Who can see the blockchain?
 
Everyone
 
Only banks
 
Only miners
Why is blockchain like a ledger?
 
It records transactions
 
It prints money
 
It destroys banks
What does a cryptocurrency transaction create?
 
A new block
 
A new bank
 
A new paper
Where is blockchain information stored?
 
On the Internet
 
In a bank
 
In a safe
What is an example of a cryptocurrency?
 
Bitcoin
 
Dollar
 
Euro
What is the role of cryptography?
 
To make transactions secure
 
To make money faster
 
To create banks
What does "decentralized" mean?
 
Not controlled by one place
 
Controlled by one person
 
Controlled by a government
What happens when a miner solves an equation?
 
The transaction is registered
 
The transaction is printed
 
The transaction is lost
How are cryptocurrency transactions validated?
 
By a network of computers
 
By government officials
 
By people at a bank
What do miners receive for their work?
 
Cryptocurrencies
 
Dollars
 
Nothing
Why do miners solve equations?
 
To validate transactions
 
To close banks
 
To create money
What do miners do?
 
Solve equations
 
Print money
 
Work at a bank
What does a blockchain store?
 
Transactions
 
Paper money
 
Gold
What is a blockchain?
 
A public ledger
 
A type of bank
 
A physical coin
Where are cryptocurrency transactions recorded?
 
A blockchain
 
A paper book
 
A government office
Who regulates cryptocurrencies?
 
No one
 
Governments
 
Banks
What is an example of a physical currency?
 
Dollar
 
Blockchain
 
Bitcoin
Where does cryptocurrency circulate?
 
In digital operations
 
In banks
 
In paper wallets
Does cryptocurrency have a physical format?
 
No
 
Yes
What is a cryptocurrency?
 
A digital currency
 
A paper money
 
A type of bank
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