68. Popular Cryptocurrencies and Their Differences
According to the essay, what is the primary purpose of Bitcoin?
- To build smart contracts for apps and games.
- To serve as a fast and cheap system for international payments.
- To act as a store of value and an investment.
- To provide a more energy-efficient system than its competitors.
What key feature makes Ethereum different from Bitcoin?
- It is the fastest cryptocurrency for processing transactions.
- It is designed specifically for use by banks and large companies.
- It allows for the creation of smart contracts that run automatically.
- It is considered "digital silver" and is much cheaper to use.
For which group was Ripple (XRP) primarily designed?
- Individual investors looking for a store of value.
- People who want to build computer programs and games.
- Banks and companies that need to send money across countries.
- Users looking for a faster version of Bitcoin.
The essay compares Litecoin to Bitcoin by calling Litecoin the "silver" to Bitcoin's "gold." What is the main reason for this comparison?
- Litecoin is more valuable and rare than Bitcoin.
- Litecoin is used for smart contracts, while Bitcoin is for payments.
- Litecoin processes transactions more quickly and cheaply than Bitcoin.
- Litecoin is the only other cryptocurrency that can be used as money.
What is the main idea of the essay?
- Bitcoin is the first and most important cryptocurrency and all others are copies.
- While all are forms of digital money, different cryptocurrencies are designed to solve different problems.
- Smart contracts are the most important feature a cryptocurrency can have.
- Cryptocurrencies are a poor form of investment because their transactions are too slow.