BITDEGREE Answer Mission 2 - WEB3 EXAM: EXPLORER

Pemuda Tersesat

CHAPTER 1

Which type of attack involves gaining majority control of network hash rate to reverse transactions?
➤51% Attack

Fill in the missing word: "... (P2PKH) is the original Bitcoin address format."
➤Legacy

Fill in the missing word: "The ... Network is a Layer-2 solution for BTC to speed up transactions using off-chain payment channels."
➤Lightning

Who is the CEO of Bitcoin?
➤BTC has no CEO

What was the maximum block size before the first Bitcoin block size upgrade?
➤1MB

What is the name of suggested technology that allows extended capabilities for BTC smart contracts without modifying its core code?
➤BITVM

Rank the following in the order of appearance in Bitcoin's history (top - oldest, bottom - latest).
➤Genesis Block, 
➤First Bitcoin Halving, 
➤Lightning Mainnet Launch , 
➤Third Bitcoin Halving, 
➤Taproot Upgrade, 
➤Ordinals Protocol Launch

Which country was the first to adopt Bitcoin as legal tender?
➤El Salvador

Sort these steps in the order a merchant handles a Bitcoin payment process (first - top, last - bottom).
➤Invoice is created, 
➤QR code is generated, 
➤Customer scans QR code, 
➤Network confirms payment, 
➤Merchant receives confirmation, 
➤Transaction is recorded

In early 2023, a new protocol that crafts NFTs directly on BTC became popular. What's it called?
➤Ordinal

CHAPTER 2

➤Follow and Retweet Twitter

CHAPTER 3

Experimental networks for risk-free exploration and learning are called...
➤Testnet

Networks supporting real-world transactions are called...
➤Mainnet

Stylus ... is open for all & offers a powerful new way to build on Arbitrum.
➤Testnet

Which networks are Testnets? Pick'em all!
➤Etherum sepolia
➤Ethreum goerli
➤Bsc testnet
➤Arbitrum goerli

Can testnets be reset to a clean state, deleting all previous activity?
➤Yes

If a developer wants to test a dApp without any costs, which network should they deploy it on?
➤Testnet

Gas fees are encountered on which network types?
➤Both

Which statements describe testnet tokens? Pick'em all!
➤Developer testing, dApp integration support, Risk-free learning

Which networks are Mainnets? Pick'em all!
➤Arbitrum nova
➤Ehereum
➤Polygon

Can you bridge mainnet tokens for testnet tokens and vice versa?
➤Yes

CHAPTER 4

Sort the following important crypto events based on when they happened (top - oldest, bottom - latest).
➤Ethereum ICO, 
➤Defi Summer, 
➤Ethereum Merge, 
➤Polygon 2.0

What is the programming language primarily used to write smart contracts on Ethereum?
➤Solidity

What type of blockchain is the recently launched Celestia?
➤Modular

Your smart contract needs to trigger based on real-world events. What would you integrate to achieve this?
➤Oracles

Which platforms offer EVM compatibility? Pick'em all!
➤Binance Smart Chain, Scroll, Solana

Which of the options are Layer-2 scaling solutions? Pick'em all!
➤Optimism, 
➤ZK-Rollups

Does Web3 rely solely on blockchain technology?
➤No

Why use Layer-2 instead of deploying directly on a Layer-1? Pick'em all!
Avoiding high fees, 
➤Achieving faster transactions
➤Avoiding high fees

Fill in the missing words: "By far the most well-known types of dApps out there are ... dApps."
➤Financial or trading

Does Solana use Proof-of-Stake?
➤No

Insert the two-letter abbreviation for the blockchain-based domain name service launched in 2018.
➤UD

What is the programming language primarily used to write smart contracts on Aptos?
➤Move

CHAPTER 5

➤Claim Faucet

CHAPTER 6

➤Swap Token

CHAPTER 7

An NFT is valued at 10 ETH - the platform allows an LTV ratio of 60%. How much ETH can be borrowed against this NFT?
➤6

Arrange the NFT sale on a marketplace steps in a logical order.
➤Go to the marketplace, 
➤Connect your wallet, 
➤Locate the NFT you wish to sell, 
➤List the NFT for sale, 
➤Approve the transaction, 
➤Celebrate a sale

What is a "reveal", when it comes to NFTs?
➤Unveiling image & trait

You face an unexpected expense. Instead of selling, you use an NFT lending platform. Why? To...
➤Unlock liquidity without selling

... is a method to break down high-value NFTs into smaller, more affordable pieces.
➤Fractionalization

Why might individuals choose to pay a higher gas fee when minting an NFT? To...
➤Gain priority for the purchase

What does "NFT flipping" primarily refer to?
➤Buying "low", selling "high"

What are “Blue Chip” NFTs?
➤Hight Value NFTS

What are examples of potential benefits of NFTs in gaming? Pick'em all!
➤Ownership of in-game items, Monetary value for in-game items

Which statements are true for Soulbound Tokens (SBTs)? Pick'em all!
➤No intrinsic value, Are impossible to transfer

CHAPTER 8

Which of the following is a product under the Wirex umbrella?
➤Wirex card

What's the market cap trend for WXT over the past week?
➤Decreased

What is the current WXT market cap?
➤52

In the last 24h, did the WXT price go up or down?
➤Decreased

What is the circulating supply of WXT?
➤10B

What is the primary characteristic of the WXT token?
Reward token

What is the current price of WXT?
➤0.0052

Which of the following determines the market capitalization of a token?
➤Current price * Circulating supply

Which year did the Wirex IEO (Initial Exchange Offering) take place?
➤2019

Fill in the missing number: "Besides, more than ... countries accept the Wirex card."
➤130

CHAPTER 9

➤Join Discord Channel

CHAPTER 10

Can cross-chain bridges contribute to increased liquidity on a blockchain?
➤Yes

Which of the following is known as the “internet of blockchains”?
➤Cosmos

Is it true that all cross-chain solutions are built to support every blockchain platform?
➤No

Name the blockchain platform that's known for its unique structure of relay chains and parachains.
➤Polkadot

Why might someone decide to use a cross-chain bridge? Pick'em al!
➤Trying out exclusive dApps, 
➤Benefiting from lower fees, 
➤Chasing airdrops, 
➤Exploring yield pools, 
➤Cross-chain messaging

What challenges cross-chain interoperability?
➤All correct

Insert the missing word: "Cross-... bridging allows moving assets between different blockchains."
➤Chain

Do all cross-chain bridges operate on the same principles and have the same level of security?
➤No

Arrange the steps involved in using a cross-chain bridge (top - first, bottom - last).
➤Open the bridge page, 
➤Select networks and tokens , 
➤Approve the spending, 
➤Confirm tx on source chain, 
➤Claim tx on destination, 
➤Access assets on destination chain

CHAPTER 11

What are tokens that confirm your contribution on a liquidity pool called?
➤LP tokens

Fill in the missing word: "Collateral is an asset that a borrower provides to a lender as a security measure when taking out a ... ."
➤Loan

You've set aside $8,000 into a yield farm for a month. With a 12% APY, how much will you earn (in $USD)?
➤80

If the token price spikes before purchase and drops after on a DEX, this suggests a sandwich attack. What strategy might help avoid this?
➤Dividing trades into small parts

In liquidity pools, a price change in paired tokens might lead to potential losses. What's this phenomenon called?
➤Impermanent Loss

Is it possible for a liquidity provider to experience losses in a liquidity pool?
➤Yes

What three-letter term represents DEXs that use formulas to set prices, instead of order books?
➤AMM

What factors can affect the price of assets in a liquidity pool? Pick'em all!
➤Supply & demand, 
➤Trading volume, 
➤Arbitrage, 
➤External market prices

Can liquidity providers withdraw their assets from a liquidity pool at any time?
➤Yes

CHAPTER 12

➤Stake Liquidity

CHAPTER 13

WHAT DO PERPETUAL CONTRACTS DERIVE THEIR VALUE FROM?
➤Underlying asset

CAN PERPETUAL CONTRACTS BE HELD INDEFINITELY?
➤Yes

WHAT IS THE UNIQUE FEATURE OF PERPETUAL CONTRACTS COMPARED TO SIMPLE FUTURES CONTRACTS? THEY ...
➤Do not have expirity date

IN PERPETUAL CONTRACTS, THE TERM "LONGING" REFERS TO BUYING AN ASSET AT A SPECIFIED PRICE IN THE ...
➤future

WHAT ARE THE TWO PARTIES THAT ARE INVOLVED IN FUTURES CONTRACTS?
➤Buyer & seller

WHICH TYPE OF MARGIN ALLOWS YOU TO USE FUNDS FROM YOUR AVAILABLE PERPETUAL ACCOUNT BALANCE?
➤Cross-margin

ARE MARGIN TRADING AND PERPETUALS THE SAME THING?
➤No

WHAT IS IMPACTED BY THE CHOICE BETWEEN ISOLATED AND CROSS-MARGIN ON THE BYDFI EXCHANGE?
➤Funds in open positions

DOES 'MARGIN' IN TRADING ALWAYS REFER TO MONEY BORROWED FROM A BROKER OR EXCHANGE?
➤No

ON BYDFI, WHERE CAN YOU FIND THE TRADING RULES FOR PERPETUAL CONTRACTS?
➤Below the "Assets" section

CHAPTER 14

Is it safe to ignore the lack of an audit if the dApp has a large user base?
➤No

Which of the following is a common security concern when using dApps?
➤Smart contract vulnerability

Is it recommended to allow a smart contract unlimited approval to spend your tokens?
➤No

Are private keys and seed phrases the same thing?
➤No

Sort the following events based on when they happened (top - oldest, bottom - latest).
➤Wormhole $325M hack, 
➤Ronin Network $625M hack, 
➤Terra Luna collapse, 
➤FTX collapse

Why might a user want to revoke token spending approvals after they interacted with a dApp? To...
➤Prevent unauthorized access

Fill in the missing word: "When interacting with non-audited DeFi projects, you need to "do your own research", or ... ."
➤DYOR

A common method to secure smart contracts is by conducting an ... to discover any vulnerabilities.
➤Audit

Fill in the missing word: "... emails may contain malicious links to steal your crypto & NFTs."
➤Phishing

What might happen if the protocol, where you granted token spending approvals, got hacked?
➤Tokens may be stolen

CHAPTER 15

➤Revoke

==============================DONE===============================

Answer Mission 3 

Pemuda Tersesat

Pemuda Tersesat

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