Quiz 3

 

What is a "block halving" in the context of Bitcoin?

Reducing the size of a blockchain block Halving the transaction fees Halving the reward for miners Increasing the mining difficulty

Which of the following is a major advantage of Bitcoin's decentralized nature?

High transaction speed Immunity to market fluctuations Resistance to censorship and fraud Centralized control by governments

What is the term for the smallest unit of Bitcoin, equal to one hundred millionth of a Bitcoin?

Bit Satoshi Byte Ether

What is the purpose of a Bitcoin wallet?

To mine new bitcoins To store private keys To facilitate peer-to-peer transactions To regulate the supply of bitcoins

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