Cryptocurrency Questions and Answers

Question 1

Which of the following is the most common method of keeping bitcoins?

Accepted Answer

Wallet

Answer

Stack

Answer

Pocket

Answer

Box

Question 2

Which of these US states has enacted the BitLicense cryptocurrency regulation?

Accepted Answer

New York

Answer

Washington

Answer

Texas

Answer

California

Question 3

The FBI shut down which Ross Ulbricht-run website that allowed users to buy drugs with Bitcoin?

Accepted Answer

Silk Road

Answer

Dark Alley

Answer

Lace Place

Answer

Silk Street

Question 4

What is the meaning of UTXO?

Accepted Answer

Unspent Transaction Output

Answer

Union of Texas Operations

Answer

United Transaction Office

Answer

United Texan Xerox Organization

Question 5

What was the name of the well-known Japanese Bitcoin exchange that went bankrupt in 2014?

Accepted Answer

Mt. Gox

Answer

Bitstamp

Answer

Blockchain.info

Answer

Tradehill

Question 6

What is the definition of a hash function?

Accepted Answer

Takes an input of any length and returns a fixed-length string of numbers and letters

Answer

Gas

Answer

A fork

Answer

UTXO

Question 7

Merkle Trees were created by who?

Accepted Answer

Ralph Merkle

Answer

Vitalik Buterin

Answer

Nick Szabo

Answer

Ralph Wiggum

Question 8

What is the location of the bitcoin central server?

Accepted Answer

None of the above

Answer

London

Answer

Washington DC

Answer

Undisclosed Location

Question 9

What distinguishes blockchain as tamper-proof?

Accepted Answer

Immutability

Answer

Servers

Answer

VPN

Answer

Cryptocurrency

Question 10

When did the Bitcoin Network begin?

Accepted Answer

January 2009

Answer

September 2001

Answer

November 2008