Independence day Trivia Quiz

[Bitcoin Smith]

As I mentioned in 77th Independence Day!, I am coming up some questions related to cryptocurrency and I appreciate every Indian board member to participate and also post your questions if you have any.

Questions

• In which year was Bitcoin introduced?
• What is the smallest unit of Bitcoin called?
• What is the purpose of a "wallet" in the context of cryptocurrencies?
• Which cryptocurrency introduced the concept of "smart contracts"?
• the difference between public and private keys in cryptocurrency.
• What is a "51% attack" in the context of blockchain networks?
• Explain the concept of "double-spending"
• In which year was the Reserve Bank of India's (RBI) ban on banks dealing with cryptocurrencies lifted?
• Name of Indian central bank digital currency (CBDC)?

Also, if anyone has sMerits to spend can reward the answers with some, in my banks zero sMerits.

Happy Independence to everyone

[1714965360]

1714965360

[1714965360]

1714965360

[stanner.austin]

Hello
My answer following.

1) 2009
2) satoshi
3) store value or currency
4) Ethereum ETH
5) public key can be public shown to any one as address to receive fund. private key is must keep in private to send fund,sign message etc.
6) any one who own 51% or more mining power, can make this attack on bitcoin for double spending for his own benefits.
7) double-spending is term used to define spending same value multiple time.
8 ) 04 march 2020 (i googled this i was not sure about date but i remember year 2020)
9 ) e₹

Happy Independence
Regards,

[elevates]

Questions

• In which year was Bitcoin introduced?
• What is the smallest unit of Bitcoin called?
• What is the purpose of a "wallet" in the context of cryptocurrencies?
• Which cryptocurrency introduced the concept of "smart contracts"?
• the difference between public and private keys in cryptocurrency.
• What is a "51% attack" in the context of blockchain networks?
• Explain the concept of "double-spending"
• In which year was the Reserve Bank of India's (RBI) ban on banks dealing with cryptocurrencies lifted?
• Name of Indian central bank digital currency (CBDC)?

Answer

• 2009
• Satoshi
• Allows access to your coin on the blockchain
• Ethereu
• Private key is not for public use whereas Public key is for general use
• This is a hypothetical situation that cannot be done due to many reasons
• The same amount of crypto can be spent twice
• 2020
• Digital rupee

Thanks and a Happy 77th Independence Day.

[Bitcoin Smith]

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Thank you guys for the participation, and obviously you guys answered the quiz correctly.

My bad I am prepared with a lot of more questions with the thought of more members will be active today, no worries I think we still can continue the quiz everyday.

Any thoughts?

[Bureau]

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Thank you guys for the participation, and obviously you guys answered the quiz correctly.

My bad I am prepared with a lot of more questions with the thought of more members will be active today, no worries I think we still can continue the quiz everyday.

Any thoughts?

Missed it! More of such quiz would be highly appreciated. I believe we need to create more such interesting & engaging contents to get some traction on our local board.

[pakhitheboss]

Sorry! I was not able to participate in this quiz by @Bitcoin Smith as I was busy due to personal reasons. Such initiatives are always welcomed on our board and it would certainly encourage new members to participate in such activities. I am hoping for more such quiz in the future about Bitcoin or about the Indian local board. You would have my support if another one is posted.

[pawanjain]

The initiative is good but I think it should have been well planned and delivered. We should have prepared this a week earlier so that we could have got more engagement.
Also, @Bitcoin Smith the questions should have been asked in some online quiz platform because if one posts the answers it wouldn't be hard for others to post the same.
Lets plan out the next competitions to get more traction. Still it was better than nothing and I appreciate your efforts.

[elevates]

Sorry! I was not able to participate in this quiz by @Bitcoin Smith as I was busy due to personal reasons. Such initiatives are always welcomed on our board and it would certainly encourage new members to participate in such activities. I am hoping for more such quiz in the future about Bitcoin or about the Indian local board. You would have my support if another one is posted.

I missed your in-depth analysis as I felt you would reply to those questions with details which you do more often. Not an issue as it was suddenly planned and executed by the OP. Still, we have plenty more events lined up in the future and I am thinking about Rakhi. Can we get a few sponsored and start an event next week wherein the winner would be given a prize as in satoshis? What do you think?

[Bitcoin Smith]

The initiative is good but I think it should have been well planned and delivered. We should have prepared this a week earlier so that we could have got more engagement.
Also, @Bitcoin Smith the questions should have been asked in some online quiz platform because if one posts the answers it wouldn't be hard for others to post the same.
Lets plan out the next competitions to get more traction. Still it was better than nothing and I appreciate your efforts.

Actually, I didn't plan anything too so the idea strike me only after that thread.

Yeah, I thought that the questions were too simple, but I didn't try to push too hard because I concentrated more on being fun and learn something.

Sure, next time we can come up with more technical related questions.