Learn and earn crypto : 14€ in Polkadot (DOT) on Revolut - quiz answers !

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To make sure you’ll quickly earn the full 14€ in Polkadot on Revolut, you’ll find all of the quiz questions and answers below.

If you are not yet registered on Revolut, you can do it for free by clicking on this link
By the way, the course is quite well done and we encourage you to take it if you want to review the basics of crypto or the Polkadot project.

Course 1 : Crypto basics (Earn 4€ in DOT)

Lesson 1 of 4 : Crypto vs fiat (Earn 1€ in DOT)

  1. What is 'fiat' money ?
    Answer : Government-issued money
  2. What is the main difference between fiat currency and cryptocurrencies ?
    Answer : Cryptocurrencies are decentralised, fiat money is controlled by a central authority.
  3. Who validates transactions on the blockchain ?
    Answer : Special users called 'miners' or 'validators'

Lesson 2 of 4 : Cryptography in crypto (Earn 1€ in DOT)

  1. Why is cryptography important for cryptocurrencies ?
    Answer : It removes the need for a central authority, prevents double spending, and adds security
  2. What are private and public keys ?
    Answer : A public key is like your account number and your private key is like your password
  3. Which statement is true about private and public keys ?
    Answer : It's impossible to work out someone's private key by looking at their public key

Lesson 3 of 4 : Basics of blockchain (Earn 1€ in DOT)

  1. What is a blockchain ?
    Answer : A decentralised database
  2. Who can view the blockchain ?
    Answer : Anyone with a computer and the internet
  3. What makes the blockchain different from a regular database ?
    Answer : It's not controlled by a central party and can be viewed by anyone

Lesson 4 of 4 : Risks of crypto (Earn 1€ in DOT)

  1. What regulatory protections does your crypto have ?
    Answer : None – crypto is not regulated in most countries around the world
  2. How much can you lose if you buy crypto ?
    Answer : Everything -  your investment could go to zero
  3. When would it not be suitable for you to buy crypto ?
    Answer : When you are in debt, or you cannot afford to lose the money you invested

Course 2 : Polkadot (Earn 10€ in DOT)

Lesson 1 of 5 : Intro to Polkadot (Earn 2€ in DOT)

  1. What are some limitations of early blockchains like Bitcoin ?
    Answer : Slow transaction speeds, high fees and inability to communicate with other blockchains
  2. What is Web 3.0 ?
    Answer : A new web built around decentralized technologies where users have more control over their data
  3. How does Polkadot address some of the limitations of earlier blockchains ?
    Answer : It allows multiple blockchains to communicate with each other and process transactions at the same time

Lesson 2 of 5 : How Polkadot works (Earn 2€ in DOT)

  1. What is a relay chain ?
    Answer : A blockchain that connects other blockchains and allows them to communicate
  2. What is a parachain?
    Answer : A blockchain that connects to the Relay Chain and operates in parallel to other parachains
  3. What problems do parachains and relay chains solve ?
    Answer : The inability of blockchains to communicate with each other

Lesson 3 of 5 : Who decides the future of Polkadot (Earn 2€ in DOT)

  1. Who is able to vote for new initiatives like network upgrades on the Polkadot network ?
    Answer : People who hold a DOT token
  2. What is Polkadot’s 'on-chain treasury' ?
    Answer : A pot of tokens that can be used to support projects that benefit the network
  3. How does Polkadot’s governance system differ from some other popular blockchains ?
    Answer : It's governed by a community through voting

Lesson 4 of 5 : DOT Token (Earn 2€ in DOT)

  1. What is Polkadot’s native crypto token called ?
    Answer : DOT
  2. What does 'staking' your DOT tokens mean ?
    Answer : Helping secure the network by locking up DOT tokens, in return for a reward in DOT tokens
  3. What does 'bonding' your DOT tokens mean ?
    Answer : Locking up tokens in order to secure a slot for your parachain on the relay chain

Lesson 5 of 5 : Polkadot and its uses (Earn 2€ in DOT)

  1. What are some use cases of Polkadot ?
    Answer : NFTs, DeFi, powering smart cities
  2. What makes applications built on Polkadot different from the apps on your phone ?
    Answer:  Polkadot apps don’t need to rely on a middleman to work, and can keep your data safer
  3. How do apps on parachains communicate ?
    Answer : Via the Relay Chain

And that's it... not very complicated, is it ? If you want to earn other crypto easily and for free on the same principle of "Learn and Earn", you can also do it on Coinbase

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