[XENEA Wallet] Daily Quiz January Answers and Trivia! ✨️ updated daily ✨️

XENEA Wallet features a Daily Quiz that enhances user engagement while offering a fun and gamified way to learn about Web3 and the Xenea ecosystem.

Although many kind individuals are sharing answers on X (formerly Twitter), it feels like the quiz is turning into a game of simply picking the right answer without understanding the questions. To address this, this article will provide not only the answers to XENEA Wallet’s Daily Quiz but also the reasoning behind them and additional insights. By leveraging XENEA Wallet NAVI (ChatGPT), we aim to make the experience more informative and meaningful.

It takes less than a minute, so bookmark this page and check back daily! 😊

Start Your Journey with XENEA Wallet Today!

XENEA Wallet is an innovative app that makes exploring the world of Web3 both fun and rewarding! Complete simple missions, claim daily bonuses, and earn rewards while learning about the future of digital technology.

With cutting-edge security and unparalleled convenience, XENEA Wallet offers you the chance to participate in future airdrops and mining opportunities. Simply download the app to begin your new digital experience!

New users can start with 1,000 gems by signing up with the invite code below!

1️⃣ Download the app
2️⃣ Enter the invite code: h3dYzHejPI
3️⃣ Sign up with your Google or Apple account

Enjoy the exciting world of XENEA Wallet!

 

Please refer to the following page for information on how to earn Gems.
How many days does it take to earn 10,000 gems and start automatic mining with the XENEA Wallet?

 

Daily Quiz on Jan 31

🟢Quiz Question:
What kind of applications is Xenea PARTICULARLY suited to?

🟢Choose one correct answer:
・An application that requires ultra-high-speed processing
・An application that requires collaboration with many external chains
・An application that handles large datasets
・An application that utilizes Bitcoin

🟢Answer:
An application that handles large datasets

🟢Reason for choosing this answer:
Xenea is a Layer 1 blockchain that integrates Decentralized Autonomous Content Storage (DACS), a system designed to ensure long-term data persistence and security. This makes it particularly well-suited for applications that require handling and storing large datasets, such as Real-World Asset (RWA) tokenization, decentralized storage, and AI-generated data management.

🟢Trivia:
Xenea’s storage system uses Sustainable Generation Manager (SGM) to replicate data across different nodes, preventing data loss over time. Additionally, it employs Fast Track Content Delivery Manager (FASTD) to cache high-priority data for low-latency access, making it a powerful choice for applications dealing with massive and dynamic datasets.

Daily Quiz on Jan 30

🟢 Quiz Question:
What kind of ecosystem partners is Xenea seeking?

🟢 Choose one correct answer:
・DePIN
・Developer tools
・DApps
・All of the above

🟢 Answer:
All of the above

🟢 Reason for choosing this answer:
Xenea is actively seeking ecosystem partners across various domains, including DePIN (Decentralized Physical Infrastructure Networks), Developer Tools, and DApps. According to the latest updates from Xenea’s ecosystem expansion efforts, they aim to onboard projects that utilize decentralized storage, developer tools for blockchain integration, and decentralized applications (DApps) to enhance the utility of their Layer 1 blockchain.

🟢 Trivia:
Xenea is not just another blockchain—it integrates Decentralized Autonomous Content Storage (DACS), allowing real-time editing of dynamic data, which is uncommon in traditional blockchain storage. Additionally, their Proof of Democracy (PoD) consensus model ensures high decentralization while avoiding the energy inefficiencies of Proof of Work (PoW) and the wealth concentration issues of Proof of Stake (PoS).

Daily Quiz on Jan 29

🟢 Quiz Question:
What is the purpose of the FASTD in Xenea’s storage system?

🟢 Choose one correct answer:
・Encrypting data
・Managing smart contracts
・Prioritizing important content storage
・Facilitating crypto transactions

🟢 Answer:
Prioritizing important content storage

🟢 Reason for choosing this answer:
FASTD (Fast Track Contents Delivery Manager) is a feature in Xenea’s Decentralized Autonomous Content Storage (DACS) system. It is designed to allow important content to be preferentially cached in DACS nodes, ensuring faster access and reducing latency.

🟢 Trivia:
FASTD works alongside another key technology in DACS called the Sustainable Generation Manager (SGM), which replicates and migrates data periodically to prevent data loss. Together, these technologies ensure data persistence, security, and efficient retrieval within Xenea’s blockchain storage system.

Daily Quiz on Jan 28

🟢Quiz Questions:
What is the role of the Sustainable Generation Manager (SGM) in Xenea’s DACS?

🟢Choose one correct answer:
・Encrypting data
・Recording time and storage status, duplicating data, and deleting original data
・Managing smart contracts
・Facilitating crypto transactions

🟢Answer:
Recording time and storage status, duplicating data, and deleting original data

🟢Reason for choosing this answer:
The Sustainable Generation Manager (SGM) plays a crucial role in Xenea’s Decentralized Autonomous Content Storage (DACS) system. Its primary purpose is to ensure data persistence by managing the lifecycle of data. SGM timestamps stored data, tracks its status, replicates it to new nodes when necessary, and deletes the original data to prevent data loss over time. This process ensures the long-term availability and reliability of data on the DACS network.

🟢Trivia:
The SGM mechanism is designed to address the issue of data degradation in decentralized storage systems. By automatically replicating data every 180 days to different nodes, the system prevents data from being lost due to hardware failure or node inactivity. This innovative approach sets Xenea apart as a leader in decentralized, secure, and persistent data storage.

Daily Quiz on Jan 27

🟢Quiz Question:
What are the three stages of the XENEA Wallet development, and what is the main focus of each stage?

🟢Choose one correct answer:
・Stage 1: Rewards app; Stage 2: Crypto wallet functions; Stage 3: General payment functions
・Stage 1: Crypto wallet functions; Stage 2: Rewards app; Stage 3: General payment functions
・Stage 1: General payment functions; Stage 2: Rewards app; Stage 3: Crypto wallet functions
・Stage 1: Crypto wallet functions; Stage 2: General payment functions; Stage 3: Rewards app

🟢Answer:
Stage 1: Rewards app; Stage 2: Crypto wallet functions; Stage 3: General payment functions

🟢Reason for choosing this answer:
According to XENEA Wallet’s development roadmap:

Stage 1 (Rewards app): Focuses on engaging users through daily missions and rewards, allowing them to learn about Xenea and earn gems that can be used for future benefits.

Stage 2 (Crypto wallet functions): Introduces Web3 wallet functionalities, enabling users to store, manage, and interact with digital assets securely. This stage also integrates their patented MPC technology for enhanced security.

Stage 3 (General payment functions): Adds fiat on/off-ramp capabilities, bridging traditional finance and cryptocurrency, making digital assets more accessible for everyday use.

🟢Trivia:
The XENEA Wallet’s Proof of Democracy (PoD) consensus mechanism, replacing traditional PoW/PoS algorithms, ensures robust decentralization by empowering wallet users with voting rights. This positions Xenea as a next-gen blockchain.

By participating in earlier stages, users can earn Mining Passport NFTs, granting lifetime mining rights once the mainnet is live.

Daily Quiz on Jan 26

🟢 Quiz Question:
Who is the pseudonymous creator of Bitcoin?

🟢 Choose one correct answer:
・Vitalik Buterin
・Charlie Lee
・Satoshi Nakamoto
・Gavin Andresen

🟢 Answer:
Satoshi Nakamoto

🟢 Reason for choosing this answer:
Satoshi Nakamoto is the pseudonym used by the individual or group who created Bitcoin. Nakamoto authored the Bitcoin whitepaper in 2008 and mined the first Bitcoin block, called the “Genesis Block,” in 2009. The identity of Nakamoto remains a mystery, as they disappeared from public communication in 2011.

🟢Trivia:
Satoshi Nakamoto’s Bitcoin wallet is estimated to contain around 1 million BTC, making it one of the wealthiest wallets in existence. However, none of these coins have ever been moved, adding to the intrigue surrounding Nakamoto’s identity. Bitcoin’s decentralization and trustless nature stem from Nakamoto’s vision of creating a peer-to-peer digital currency independent of traditional financial systems.

Daily Quiz on Jan 25

🟢 Quiz Question:
What is the primary function of the XENEA Wallet during the first stage of its launch?

🟢 Choose one correct answer:
・Storing private keys
・Facilitating crypto transactions
・Acting as a rewards app
・Managing NFTs

🟢 Answer:
Acting as a rewards app

🟢 Reason for choosing this answer:
During the first phase of its launch, the primary function of the XENEA Wallet is to act as a rewards app. Users participate in daily missions and activities to earn rewards (gems), which can later grant them access to features like mining or token incentives. This phase focuses on engaging users, familiarizing them with Xenea’s ecosystem, and building an active community.

🟢 Trivia:
The rewards earned during the initial phase, such as gems, play a vital role in Xenea’s ecosystem. These gems can be exchanged for Mining Passport NFTs, allowing users to participate in Proof of Democracy (PoD) mining after the mainnet launch. This innovative system integrates community engagement with blockchain technology.

Daily Quiz on Jan 24

🟢 Quiz Question:
What feature of Xenea prioritizes the storage of important content in DACS nodes?

🟢 Choose one correct answer:
・DACS
・Priority Queue
・FASTD (Fast Track Contents Delivery Manager)
・Smart Contracts

🟢 Answer:
FASTD (Fast Track Contents Delivery Manager)

🟢 Reason for choosing this answer:
The FASTD system is an integral part of Xenea’s Decentralized Autonomous Content Storage (DACS) technology. It is designed to prioritize and cache high-priority content within DACS nodes for low-latency access. This ensures critical content is stored efficiently and retrieved quickly when needed.

🟢 Trivia:
FASTD works alongside DACS’s Sustainable Generation Manager (SGM), which replicates data periodically to prevent loss. These features make Xenea a cutting-edge solution for secure and persistent decentralized storage.

Daily Quiz on Jan 23

🟢 Quiz Question:
What is a ‘hard fork’ in blockchain technology?

🟢 Choose one correct answer:
・A minor software update
・A backward-compatible update
・A split in the blockchain that creates two separate versions
・A temporary disruption in the blockchain

🟢 Answer:
A split in the blockchain that creates two separate versions

🟢 Reason for choosing this answer:
A “hard fork” in blockchain occurs when there is a fundamental change in the network’s protocol, making previously invalid transactions or blocks valid, or vice versa. This results in two versions of the blockchain: the original and the forked version. Nodes that do not upgrade to the new protocol cannot participate in the new chain, leading to a permanent divergence.

🟢 Trivia:
Bitcoin Cash is an example of a hard fork from Bitcoin that occurred in 2017 due to disagreements over how to scale the network. While Bitcoin remained focused on maintaining a smaller block size for decentralization, Bitcoin Cash increased the block size to handle more transactions. This division exemplifies how hard forks can create entirely new cryptocurrencies and ecosystems.

Daily Quiz on Jan 22

🟢 Quiz Question:
[Quiz About Xenea’s Partner – Bunzz] What is the advantage of using Bunzz Audit?

🟢 Choose one correct answer:
・Wider coverage than human audits
・Faster than human audits
・Cheaper than human audits
・All of the above

🟢 Answer:
All of the above

🟢 Reason for choosing this answer:
Bunzz Audit leverages automation and advanced algorithms to provide comprehensive coverage beyond what human audits typically achieve. It operates at faster speeds, detecting vulnerabilities more efficiently, and its automated nature reduces costs significantly compared to manual auditing processes.

🟢 Trivia:
Bunzz Audit is specifically designed for smart contract security, a critical aspect of blockchain platforms like Xenea. Automated audits not only enhance reliability but also reduce human error, making them a preferred choice for scalable and secure blockchain development.

Daily Quiz on Jan 21

🟢 Quiz Questions:
[Quiz About Xenea’s Partner – Bunzz] What is the feature of Bunzz Audit?

🟢 Choose one correct answer:
・Free audit service for developers using Bunzz Explorer’s codes
・Code audit by AI+Human Review
・Code audit by experts
・All of the above

🟢 Answer:
Code audit by AI+Human Review

🟢 Reason for choosing this answer:
Bunzz Audit leverages a hybrid approach that combines AI technology for efficiency and accuracy with human expertise for thoroughness and context-aware evaluations. This dual-layered process enhances the security of smart contracts by minimizing errors and ensuring quality, a critical factor in blockchain development.

🟢 Trivia:
The combination of AI and human review in code audits is a growing trend in blockchain development. AI tools quickly identify standard vulnerabilities, while human experts provide detailed insights into complex logic, ensuring robust and secure smart contracts.

Daily Quiz on Jan 20

🟢 Quiz Questions:
[Quiz About Xenea’s Partner – Bunzz] What is the feature of Explore?

🟢 Choose one correct answer:
・A collection of smart contract modules
・Block explorer
・A tool to track the flow of funds on blockchains
・Bridge aggregation service

🟢 Answer:
A collection of smart contract modules

🟢 Reason for choosing this answer:
Bunzz, as a partner of Xenea, provides a modular platform for developers to easily access pre-built smart contract components. “Explore” highlights its focus on smart contract modules, empowering developers to accelerate the process of dApp creation on blockchain systems.

🟢 Trivia:
Bunzz has gained popularity for simplifying blockchain development by offering reusable contract libraries, enabling non-experts to integrate advanced functionalities like DeFi protocols and token creation. Their tools reduce the complexity and technical barriers associated with building Web3 applications.

Daily Quiz on Jan 19

🟢Quiz Questions
[Quiz About Xenea’s Partner – Bunzz] What is the advantage of using Decipher to analyze the contents of smart contracts?

🟢Choose one correct answer:
・Easily comprehend contract behavior
・Effectively repurpose contracts for your own products
・Make contract risks visible
・All of the above

🟢Answer:
All of the above

🟢Reason for choosing this answer:
Decipher is a powerful tool designed to enhance the usability and understanding of smart contracts. It provides multiple advantages:

1. It simplifies the process of understanding contract behavior, which is crucial for developers.
2. It allows users to efficiently repurpose existing contracts for new products, saving time and resources.
3. It highlights potential risks in contracts, ensuring better security and informed decision-making.

Since Decipher offers all these benefits, the most comprehensive answer is “All of the above.”

🟢Trivia:
Smart contracts are self-executing contracts with terms directly written into code. Tools like Decipher help demystify these complex structures, making blockchain technology more accessible to developers and businesses. With increased adoption, such tools are critical in promoting security, innovation, and efficiency in the decentralized ecosystem.

Daily Quiz on Jan 18

🟢Quiz Questions:
[Quiz About Xenea’s Partner – Bunzz] What is the feature of Decipher?

🟢Choose one correct answer:
・Analyze wallet content using AI
・Analyze BLOBs on the blockchain using AI
・Analyze smart contract content using AI
・Analyze mempool content using AI

🟢Answer:
Analyze smart contract content using AI

🟢Reason for choosing this answer:
Decipher is a tool that specializes in analyzing smart contract content on blockchain platforms using AI. Its primary purpose is to provide users with insights into the functionalities, vulnerabilities, and data within smart contracts. This feature is crucial for developers and users to ensure security and understand the contracts’ execution.

🟢Trivia:
Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically execute when predefined conditions are met. By analyzing these contracts with AI, Decipher helps identify potential risks and optimizes their deployment on blockchain networks, making decentralized applications (DApps) safer and more efficient.

Daily Quiz on Jan 17

🟢 Quiz Questions
What technology does Xenea use to prevent data loss and ensure long-term data retention?

🟢 Choose one correct answer:
・RAID
・Sustainable Generation Manager (SGM)
・Blockchain Explorer
・Secure Socket Layer (SSL)

🟢 Answer:
Sustainable Generation Manager (SGM)

🟢 Reason for choosing this answer:
The Xenea blockchain uses the Decentralized Autonomous Content Storage (DACS) system, which incorporates Sustainable Generation Manager (SGM) technology. SGM ensures data persistence by replicating data to new nodes and erasing it from old ones based on timestamps and storage status. This guarantees long-term data retention and prevents data loss.

🟢 Trivia:
SGM operates by transferring data between nodes in a distributed network every 180 days or upon expiration of storage. This mechanism is part of DACS, which initially integrates with IPFS and plans to expand further. By ensuring reliable long-term storage, SGM makes Xenea’s infrastructure highly robust, catering to applications such as NFTs and RWA tokenization.

Daily Quiz on Jan 16

🟢 Quiz Question:
What is the default duration for which data is stored before being replicated to new nodes in DACS?

🟢 Choose one correct answer:
・90 days
・120 days
・150 days
・180 days

🟢 Answer:
180 days

🟢 Reason for choosing this answer:
According to the DACS (Decentralized Autonomous Content Storage) system used in Xenea’s blockchain, data storage on a node is set to expire by default after 180 days. Once this time has elapsed, the system replicates the data to a new node to ensure data consistency and prevent loss.

🟢 Trivia:
DACS employs a “Sustainable Generation Manager (SGM)” to monitor timestamps and replicate data at regular intervals. This technology ensures that data remains consistent and secure across the network over extended periods. DACS also plans to integrate its own hash file system in 2025, enabling real-time editing of dynamic data, which will further enhance its applications.

Daily Quiz on Jan 15

🟢Quiz Question:
Which existing file system is Xenea initially integrated with for data storage?

🟢 Choose one correct answer:
・S3
・Google Drive
・IPFS
・Dropbox

🟢 Answer:
IPFS

🟢 Reason for choosing this answer:
According to Xenea’s design, the Decentralized Autonomous Content Storage (DACS) system initially integrates with IPFS (InterPlanetary File System) to ensure data consistency and persistence. IPFS is a distributed file system that enables secure, long-term data storage, aligning with Xenea’s focus on decentralized storage.

🟢 Trivia:
IPFS is a peer-to-peer protocol designed to make the web faster, safer, and more open by storing data in a decentralized way. Unlike centralized servers, IPFS uses a content-addressed model where files are given unique identifiers based on their content. This architecture makes it highly resilient to censorship and server failures. Xenea’s planned updates aim to enhance IPFS integration with proprietary hash file systems to support dynamic data.

Daily Quiz on Jan 14

🟢 Quiz Questions:
What problem does Xenea aim to address in the blockchain space?

🟢 Choose one correct answer:
・High transaction fees
・Slow transaction speeds
・Data storage and consistency
・Lack of interoperability

🟢 Answer:
Data storage and consistency

🟢 Reason for choosing this answer:
Xenea aims to solve challenges related to the long-term consistency and security of data stored on blockchain networks. By integrating its proprietary Decentralized Autonomous Content Storage (DACS), Xenea provides a robust solution for ensuring persistent and consistent data storage on-chain. This addresses critical issues, such as data loss and ownership inconsistencies, which can arise when real-world assets and NFT data are stored externally.

🟢 Trivia:
DACS employs the Sustainable Generation Manager (SGM) to replicate and relocate data at regular intervals, ensuring that no storage degradation compromises its availability. It also introduces advanced caching techniques through the Fast Track Contents Delivery Manager (FASTD) for optimized data access, making it highly scalable and reliable for decentralized applications and real-world asset tokenization.

Daily Quiz on Jan 13

🟢 Quiz Questions:
[Quiz About Xenea’s Partner – Social.Live] What benefits does the Social Live Protocol provide to projects and businesses?

🟢 Choose one correct answer:
・Easily integrate web3 features into their products
・Access to a multi-chain supported social graph
・Simplified web3 payments using social handles
・All of the above

🟢 Answer:
All of the above

🟢 Reason for choosing this answer:
The Social Live Protocol enhances businesses by integrating web3 features into their products, providing access to a multi-chain supported social graph, and enabling simplified web3 payments through social handles. These combined functionalities offer comprehensive tools for web3 adoption and expansion.

🟢 Trivia:
Social.Live is a key ecosystem partner in the Xenea blockchain, supporting decentralized social graphs that connect multiple chains. These features enable businesses to create more interconnected and user-friendly platforms, aligning with Xenea’s vision of advancing Web3 accessibility.

Daily Quiz on Jan 12

🟢 Quiz Questions
[Quiz About Xenea’s Partner – Social.Live] How many users does Chat3 have?

🟢 Choose one correct answer:
・200k+ users
・400k+ users
・600k+ users
・800k+ users

🟢 Answer:
800k+ users

🟢 Reason for choosing this answer:
Chat3, as a partner platform of Xenea, is widely recognized for its innovative approach to decentralized communication. Its rapid growth and adoption among users worldwide have contributed to surpassing the 800k user mark.

🟢 Trivia:
Chat3 operates as a Web3 decentralized communication platform, prioritizing privacy and user control over data. Unlike traditional messaging apps, Chat3 utilizes blockchain technology to ensure that messages and interactions remain secure and private. This makes it a significant player in the growing trend of decentralized social applications.

Daily Quiz on Jan 11

🟢Quiz Questions
[Quiz About Xenea’s Partner – Social.Live] Which Social Live feature is being used by XENEA Wallet?

🟢Choose one correct answer:
・Happy Spin
・Lucky Spin
・Happy Slot
・Lucky Slot

🟢Answer:
Lucky Spin

🟢Reason for choosing this answer:
The XENEA Wallet integrates gamification features like the “Lucky Spin” to engage users and encourage daily app interactions. Gamification not only enhances user experience but also promotes regular use, which helps sustain the wallet’s ecosystem.

🟢Trivia:
Gamification elements, such as “Lucky Spin,” help attract users by providing interactive and rewarding experiences. Beyond user engagement, features like these also improve wallet security indirectly by fostering active participation, which strengthens the network’s decentralization and Proof of Democracy (PoD) consensus algorithm.

Daily Quiz on Jan 10

🟢 Quiz Questions:
[Quiz About Xenea’s Partner – Social.Live] Which of the following is a product using Social Live’s protocol?

🟢 Choose one correct answer:
・Chat1
・Chat2
・Chat3
・Chat4

🟢 Answer:
Chat3

🟢 Reason for choosing this answer:
Chat3 is specifically mentioned as an application that has committed to onboarding onto the Xenea blockchain early and utilizes Social.Live’s protocol. It was successfully promoted during the Xenea ecosystem expansion campaign, directing over 250,000 users to their service.

🟢 Trivia:
Social.Live’s protocol emphasizes creating secure, scalable integrations for communication platforms. In partnership with Xenea, Chat3 highlights how blockchain can empower decentralized applications by combining advanced consensus mechanisms like Proof of Democracy (PoD) and secure data storage through DACS. This collaboration has contributed to the growth of Web3 ecosystems.

Daily Quiz on Jan 09

🟢 Quiz Questions
[Quiz About Xenea’s Partner – Social.Live] What is Social Live?

🟢 Choose one correct answer:
・Decentralized Social Network Protocol
・Decentralized AI Protocol
・Decentralized Networking Protocol
・Decentralized Casino Protocol

🟢 Answer:
Decentralized Social Network Protocol

🟢 Reason for choosing this answer:
Social.Live is a decentralized platform aiming to create a secure and censorship-resistant social network protocol. It supports the integration of blockchain technology to ensure privacy and user control over data. This aligns with the goals of decentralized infrastructure projects like Xenea, which focus on building future-proof, Web3-compliant ecosystems.

🟢 Trivia:
Decentralized social network protocols are gaining popularity as they allow users to own their content and identity without relying on centralized servers. This is a step towards breaking away from the centralized control of major social media platforms, enabling a more democratic and secure online experience.

Daily Quiz on Jan 08

🟢 Quiz Questions
What is the market maker mechanism used by major DEXs, where prices are determined by the asset ratio of the liquidity pool?

🟢 Choose one correct answer:
・AMM
・BMM
・CMM
・DMM

🟢 Answer:
AMM

🟢 Reason for choosing this answer:
AMM stands for Automated Market Maker, a mechanism widely used in decentralized exchanges (DEXs). AMMs operate by utilizing a formula to set prices based on the ratio of assets within a liquidity pool, without requiring a traditional order book. This method ensures liquidity and price determination even in the absence of centralized market makers.

🟢 Trivia:
The most common formula used by AMMs is the constant product formula, , introduced by Uniswap. Here, and are the quantities of two assets in the pool, and is a constant that remains unchanged during trades. This innovation allows anyone to become a liquidity provider and earn transaction fees proportionally.

Daily Quiz on Jan 07

🟢Quiz Question:
What is the accounting model that Xenea uses?

🟢Choose one correct answer:
・UTXO
・EUTXO
・Account Model
・Hybrid Model

🟢Answer:
Account Model

🟢Reason for choosing this answer:
Xenea utilizes the Account Model for its blockchain operations. This model tracks balances by accounts rather than individual transaction outputs, which simplifies the execution of complex operations such as smart contracts. It aligns with Xenea’s goal of providing an efficient and user-friendly blockchain infrastructure.

🟢Trivia:
The Account Model is commonly used in Ethereum and other EVM-compatible blockchains, making it easier for developers to adapt existing decentralized applications (dApps) to Xenea. This choice supports Xenea’s focus on interoperability and expanding its ecosystem.

Daily Quiz on Jan 06

🟢 Quiz Questions
What is the accounting model that Ethereum uses?

🟢 Choose one correct answer:
・UTXO
・EUTXO
・Account Model
・Hybrid Model

🟢 Answer:
Account Model

🟢 Reason for choosing this answer:
Ethereum uses the Account Model for its state management. Unlike Bitcoin, which employs the UTXO (Unspent Transaction Output) model, Ethereum’s Account Model tracks balances and states directly through accounts. Each account in Ethereum contains a balance and storage, and transactions adjust these directly, making it suitable for executing smart contracts efficiently.

🟢 Trivia:
The Account Model in Ethereum is similar to how bank accounts function. It simplifies transactions and state management but comes with trade-offs, such as being more vulnerable to certain attacks, like re-entrancy. Ethereum’s choice of this model enables its capability to handle complex decentralized applications (dApps), which require maintaining states across different transactions.

Daily Quiz on Jan 05

🟢 Quiz Questions
What is the accounting model that Bitcoin uses?

🟢 Choose one correct answer:
・UTXO
・EUTXO
・Account Model
・Hybrid Model

🟢 Answer:
UTXO

🟢 Reason for choosing this answer:
Bitcoin uses the UTXO (Unspent Transaction Output) model to track balances. This model records each transaction’s outputs that are unspent, which can be used in future transactions. It is decentralized, secure, and computationally efficient, making it ideal for a blockchain like Bitcoin.

🟢 Trivia:
The UTXO model ensures that every transaction is independent and can be validated quickly. This contrasts with the Account Model, commonly used in Ethereum, which tracks balances directly in accounts. The UTXO system also supports better privacy because it allows the splitting and merging of outputs across multiple addresses, making it harder to trace transactions.

Daily Quiz on Jan 04

🟢Quiz Questions
What is the term of a common protocol used to interconnect blockchains?

🟢Choose one correct answer:
・Substrate
・BFT
・Gossip
・IBC

🟢Answer:
IBC

🟢Reason for choosing this answer:
IBC (Inter-Blockchain Communication) is a standardized protocol designed to enable interoperability between different blockchains. It facilitates the secure and efficient transfer of data and assets across heterogeneous chains, making cross-chain communication seamless.

🟢Trivia:
The IBC protocol is a key component of the Cosmos ecosystem, which aims to create an “Internet of Blockchains.” By enabling interoperability, IBC allows blockchains to retain their individual sovereignty while interacting with other chains. This innovation promotes scalability and enhances the usability of decentralized applications across multiple networks.

Daily Quiz on Jan 03

🟢Quiz Questions
What is the advantage of a MPC Wallet?

🟢 Choose one correct answer:
・No need to manage seed phrase
・No need to manage private key
・No risk of leaking private keys
・All of the above

🟢 Answer:
All of the above

🟢 Reason for choosing this answer:
MPC (Multi-Party Computation) wallets distribute a private key across multiple parties instead of storing it in one place. This removes the need for users to memorize or manage seed phrases and private keys, which are common in traditional wallets. By splitting keys, MPC wallets also significantly reduce the risk of private key leakage, enhancing overall security.

🟢 Trivia:
MPC technology ensures that even if one party in the system is compromised, the private key cannot be reconstructed without the cooperation of all parties. This makes MPC wallets particularly secure for both individuals and enterprises managing sensitive digital assets.