The Great Ethereum Heist: Unlocking the Mysteries of This Blockchain Juggernaut

Dive into the whimsical world of Ethereum, where blockchain heroes and villains collide, geeky terminology becomes fun, and financial enlightenment awaits. Prepare for a ride filled with wit, humor, and the occasional dreaded mermaid chart.

The Great Ethereum Heist: Unlocking the Mysteries of This Blockchain Juggernaut

Welcome, wanderers, to the land of Ethereum! Stretch your fingers, dust off your old

--- primaryColor: 'rgb(121, 82, 179)' secondaryColor: '#DDDDDD' textColor: black shuffle_questions: true --- ### Who is credited with conceiving Ethereum? - [ ] Satoshi Nakamoto - [x] Vitalik Buterin - [ ] Elon Musk - [ ] Charles Hoskinson > **Explanation:** Vitalik Buterin is the brain behind Ethereum; he published the white paper introducing it in 2014. ### What consensus mechanism does Ethereum use now? - [ ] Proof-of-Work - [x] Proof-of-Stake - [ ] Proof-of-Activity - [ ] Proof-of-Space > **Explanation:** Ethereum transitioned to a more energy-efficient Proof-of-Stake consensus mechanism in 2022. ### What is the name of the scandal where over $50 million worth of ether was stolen? - [ ] Mt. Gox Incident - [x] The DAO Debacle - [ ] Silk Road Seizure - [ ] Decentraland Drama > **Explanation:** In 2016, The DAO project was exploited by hackers stealing over $50 million in ether which led to Ethereum splitting into two separate blockchains. ### What is 'danksharding'? - [ ] A new cryptographic algorithm - [x] A scalable solution for Ethereum - [ ] A meme coin - [ ] A type of smart contract > **Explanation:** Danksharding is a planned future upgrade for Ethereum to increase scalability by processing transactions off-chain and using rollups and BLOBs. ### What unit of Ethereum's currency is given out as rewards to validators? - [ ] Bitcoin - [x] Ether - [ ] Doge - [ ] Tether > **Explanation:** Validators on the Ethereum network are rewarded with Ether (ETH) for validating blocks and participating in the consensus mechanism. ### What is the Ethereum Foundationโ€™s goal for future upgrades? - [ ] Cheaper transactions - [ ] Extra security - [ ] Better user experiences - [x] All of the above > **Explanation:** Ethereum's future upgrades focus on cheaper transactions, enhanced security, improved user experiences, and future-proofing the system. ### What does a 'wallet' in the context of Ethereum do? - [ ] Stores digital coins - [x] Holds private keys - [ ] Serves coffee - [ ] Houses NFTs > **Explanation:** An Ethereum wallet is a digital interface that holds the private keys used to access and manage Ether and other digital assets. ### What is the primary difference in the max supply between Bitcoin and Ethereum? - [x] Bitcoin has a maximum supply, Ethereum doesn't - [ ] Both have unlimited supply - [ ] Ethereum has a maximum supply, Bitcoin doesn't - [ ] Both have a capped supply > **Explanation:** Bitcoin has a capped supply of 21 million coins, whereas there is no hard cap on the amount of ETH that can be created.
Thursday, June 13, 2024

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