Satoshi and ICO: How Well Do You Know Blockchain Terms?

The blockchain industry is developing very fast, and navigating in the sea of blockchain terms can be quite difficult. Check your knowledge of blockchain terminology and learn some new terms in this quiz.

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Let’s start with something easy. What is a whitepaper?

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Incorrect answer!

In general, a whitepaper is an extensive report or guide that concisely analyzes a complex issue. In the context of blockchain, it is most often a document with technical details about a cryptocurrency and a roadmap for its development.

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What does “ICO” stand for?

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Incorrect answer!

ICO stands for initial coin offering, that is a type of funding with cryptocurrencies, an analog of IPO.

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What is the difference between a cold wallet and a hot wallet?

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Incorrect answer!

A cold wallet is an offline wallet, while a hot wallet is operated online; hence there names: hot wallets contain funds which are easily available, unlike cold wallets.

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Which term does not exist?

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Incorrect answer!

A fork can be hot if you use it for hot food. But in the context of blockchain “fork” relates to a currency split into two, and its two types are a soft fork and a hard fork.

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What is Satoshi? (Except the name of Bitcoin’s creator Satoshi Nakamoto)

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Incorrect answer!

Named after Bitcoin’ founder, Satoshi is the smallest decimal entity of a given cryptocurrency (e.g. 0.00000001 BTC)

Your result

5 questions

3 correct answers