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Answer: C) To automate transactions without intermediaries
Smart contracts are self-executing programs on blockchain networks that run when predefined conditions are met. They eliminate the need for middlemen, making processes faster, more secure, and transparent.
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✅ Correct Answer: A) To store and validate blockchain data

🧠 Explanation:
A blockchain node plays a critical role in the network—it stores the blockchain’s data and helps validate transactions. Nodes work together to maintain decentralization, security, and accuracy across the system.

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Answer: C) Technical and economic details
A whitepaper outlines a cryptocurrency project's purpose, architecture, tokenomics, and roadmap. It’s like the blueprint that helps investors and developers understand what the project aims to solve.
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What is a “crypto fork”?

A) A tool used to mine crypto
B) A type of digital wallet
C) A split in blockchain protocol
D) A way to exchange cryptocurrencies
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Answer: A) IOTA
Unlike most cryptocurrencies that rely on blockchain technology, IOTA uses a directed acyclic graph (DAG) called the Tangle. This structure enables fast, feeless transactions and is designed for the Internet of Things (IoT).
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Which Ethereum token standard is most commonly used for NFTs?

A) ERC-20
B) ERC-721
C) ERC-1155
D) ERC-1400
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✅ Correct Answer: B) Litecoin

🧠 Explanation:
Litecoin uses the Scrypt hashing algorithm for mining, which was designed to be more memory-intensive and accessible to individual miners compared to Bitcoin’s SHA-256. This helped decentralize mining in its early days.

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Answer: B) Monero
Monero is designed for enhanced privacy using stealth addresses and ring signatures, making transactions untraceable and confidential by default.
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✅ Correct Answer: B) ERC-721

🧠 Explanation:
ERC-721 is the Ethereum token standard specifically designed for non-fungible tokens (NFTs). Unlike ERC-20 tokens, each ERC-721 token is unique and indivisible, making it ideal for digital collectibles and assets.

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Answer: D) Hardware wallet
Hardware wallets are physical devices that store private keys offline, making them highly secure against hacks and malware. Ideal for long-term holders who prioritize safety.
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Which type of wallet is considered the safest for long-term crypto storage?

A) Hot wallet
B) Mobile wallet
C) Web wallet
D) Hardware wallet
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✅ Correct Answer: B) Decentralized Autonomous Organization

🧠 Explanation:
A DAO (Decentralized Autonomous Organization) is a blockchain-based structure where decision-making is automated via smart contracts and governed collectively by its members—without centralized control. It’s a key innovation in Web3 governance models.

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