Crypto Jobs Test 1

Question 1

What was the first transaction in a commercial cryptocurrency made for?

Accepted Answer

Pizza

Answer

The first known commercial transaction using Bitcoin occurred on May 22, 2010, when Laszlo Hanyecz famously paid 10,000 Bitcoins for two pizzas. This event is celebrated annually as 'Bitcoin Pizza Day' and marked a significant milestone. It demonstrated Bitcoin's potential as a real-world currency for purchasing goods and services, moving it beyond a purely theoretical concept.

Question 2

How many cryptocurrencies are there in total as of 2025?

Accepted Answer

Greater than 4000

Answer

The cryptocurrency market has experienced explosive growth since Bitcoin's inception, with thousands of new digital assets emerging. As of 2025 (and even earlier, by 2021-2022), the total number of cryptocurrencies listed on various exchanges and data aggregators has well exceeded 4,000. This reflects the diverse applications and experimental nature of blockchain technology, with new projects constantly being developed.

Question 3

How many of the top cryptocurrency coins by market capitalization account for 90% of all cryptocurrency value?

Accepted Answer

20

Answer

The cryptocurrency market is highly concentrated, with a relatively small number of top coins by market capitalization accounting for the vast majority of the total market value. Historically, the top 10-20 cryptocurrencies, including giants like Bitcoin and Ethereum, have consistently held over 80-90% of the entire market's capitalization. This indicates a significant dominance by a few established and widely adopted projects.

Question 4

What is the maximum number of Bitcoin that can be mined?

Accepted Answer

21 million

Answer

Bitcoin has a hard-capped supply limit of 21 million coins, a fundamental aspect of its design that ensures scarcity and prevents inflation. This fixed supply is gradually released into circulation through the mining process, with the reward for mining new blocks halving approximately every four years. This mechanism ensures that the maximum supply will be reached around the year 2140.

Question 5

You must pay transactional fees known as ________ when using the Ethereum network.

Accepted Answer

Gas

Answer

On the Ethereum network, users must pay transactional fees known as 'gas' to execute operations, send tokens, or interact with smart contracts. Gas is a unit of computational effort, and its price (gas price) is denominated in Gwei (a small fraction of Ether). These fees compensate miners/validators for processing transactions and securing the network, ensuring the network's operational integrity.

Crypto Jobs Practice Test

Crypto Jobs Practice Test

Crypto Jobs Test 1