Crypto Jobs Test 3

Question 1

A buy or sell order that must be completed in full promptly or it will be canceled.

Accepted Answer

Fill or Kill Order (FOK)

Answer

A 'Fill or Kill Order (FOK)' is a type of trading order that demands immediate and complete execution; otherwise, the entire order is canceled. This ensures that a trader either gets their desired quantity at the specified price instantly or not at all. FOK orders are typically used by institutional traders or those dealing with large volumes who prioritize certainty of execution.

Question 2

A system of consensus that pays block validators in accordance with the staked currency.

Accepted Answer

Proof of Stake (POS)

Answer

Proof of Stake (PoS) is a consensus mechanism used by some blockchain networks to achieve distributed agreement and validate transactions. Instead of competing with computational power like Proof of Work, validators are chosen to create new blocks based on the amount of cryptocurrency they 'stake' as collateral. This system aims to be more energy-efficient and scalable, rewarding validators proportionally to their stake.

Question 3

The removal of a resource from an exchange, either at the exchange's discretion or in response to a request by the project team.

Accepted Answer

Delisting

Answer

'Delisting' refers to the removal of a cryptocurrency or token from an exchange's trading platform. This can occur for various reasons, including failure to meet listing standards, low trading volume, regulatory concerns, or a request from the project team itself. Delisting often leads to a significant drop in the asset's price and liquidity, as it becomes harder for investors to trade.

Question 4

A technical specification proposed by Fabian Vogelsteller in November 2015 for creating and implementing tokens on the Ethereum blockchain.

Accepted Answer

ERC-20

Answer

ERC-20 is a technical standard proposed in November 2015 by Fabian Vogelsteller for creating and implementing fungible tokens on the Ethereum blockchain. It defines a common set of rules that all tokens must adhere to, ensuring interoperability between different tokens and applications. This standardization greatly facilitated the proliferation of decentralized applications (dApps) and the initial coin offering (ICO) boom on Ethereum.

Question 5

The incapacity to alter or be altered. one of the key concepts underlying blockchain technology and bitcoin.

Accepted Answer

Immutability

Answer

'Immutability' is a core principle of blockchain technology, meaning that once data is recorded on the blockchain, it cannot be altered or deleted. Each block is cryptographically linked to the previous one, making any alteration detectable and virtually impossible without re-mining the entire chain. This characteristic ensures the integrity, transparency, and trustworthiness of blockchain records.

Crypto Jobs Practice Test

Crypto Jobs Practice Test

Crypto Jobs Test 3