Cryptocurrency Smart Contracts and Token Standards

Question 1

What is a smart contract?

Accepted Answer

A self-executing program stored on a blockchain that runs when conditions are met

Answer

A legal agreement stored on paper and notarized

Answer

An AI-powered trading algorithm

Answer

A digital signature used to authenticate transactions

Question 2

Which programming language is most widely used to write Ethereum smart contracts?

Accepted Answer

Solidity

Answer

Python

Answer

JavaScript

Answer

Rust

Question 3

What is the Ethereum Virtual Machine (EVM)?

Accepted Answer

The decentralized computation engine that executes smart contracts on Ethereum

Answer

A virtual reality interface for Ethereum users

Answer

A software wallet for storing Ethereum

Answer

A mining pool coordination system

Question 4

What is 'gas' in the context of Ethereum smart contracts?

Accepted Answer

A unit measuring computational effort required to execute operations on Ethereum

Answer

A token used exclusively for staking rewards

Answer

The name for Ethereum's native currency

Answer

A fee charged by validators for confirming transactions

Question 5

What is a reentrancy attack in smart contracts?

Accepted Answer

An exploit where a malicious contract repeatedly calls a vulnerable contract before the first call completes

Answer

A phishing attack targeting smart contract developers

Answer

An attack that front-runs transactions to steal gas fees

Answer

A bug that allows unauthorized minting of tokens

Question 6

What does it mean for a smart contract to be 'immutable'?

Accepted Answer

Once deployed, the contract code cannot be changed on the blockchain

Answer

The contract can be upgraded by the owner at any time

Answer

The contract locks funds indefinitely

Answer

The contract cannot be interacted with by external users