BLOCKCHAIN AND TOKEN STANDARDS

Question 1

BTC

Answer 1

Bitcoin: the original cryptocurrency, secured by Proof of Work and capped at 21 million coins.

Question 2

ETH

Answer 2

Ethereum: smart-contract blockchain; its native token (Ether) powers dApps and DeFi.

Question 3

ADA

Answer 3

Cardano token: a Proof of Stake chain built on peer-reviewed research.

Question 4

DOT

Answer 4

Polkadot token: enables interoperability between independent blockchains.

Question 5

SOL

Answer 5

Solana token: designed for high throughput (thousands of TPS) and low fees.

Question 6

BNB

Answer 6

Binance Coin: native asset of Binance Chain and BNB Smart Chain, used for fees & staking.

Question 7

MATIC

Answer 7

Polygon token: powers an Ethereum Layer 2 scaling solution.

Question 8

LINK

Answer 8

Chainlink token: pays for oracle services that feed real-world data to smart contracts.

Question 9

LTC

Answer 9

Litecoin: a “lighter” Bitcoin fork with 2.5 min blocks.

Question 10

XRP

Answer 10

Ripple token: used for fast, low-cost cross-border payments.

Question 11

DOGE

Answer 11

Dogecoin: meme-inspired payment coin with a large community.

Question 12

NFT

Answer 12

Non-Fungible Token: unique digital asset representing ownership of one-of-a-kind items.

Question 13

ERC-20

Answer 13

Ethereum standard for fungible tokens (e.g., most DeFi coins).

Question 14

ERC-721

Answer 14

Ethereum standard for unique (non-fungible) tokens.

Question 15

ERC-1155

Answer 15

Hybrid Ethereum standard for both fungible & non-fungible tokens in one contract.

Question 16

BEP-20

Answer 16

Binance Smart Chain’s fungible-token standard, analogous to ERC-20.

Question 17

WBTC

Answer 17

Wrapped Bitcoin: BTC-backed ERC-20 token bringing Bitcoin liquidity into DeFi.