Web 3.0 Ecosystem and Components BDC Practice Questions (Page 2)

Questions 6–10

1. 6application · medium

   A gaming company wants to let players truly own in-game items and trade them with each other without the company acting as an intermediary. They also want the item ownership and transfer rules to be transparent and automated. Which approach best achieves this?

   • AStore item ownership in a centralized game database and allow players to trade via the company's support team.
   • BIssue a fungible token for each item and let players trade them on a centralized exchange.
   • CRepresent items as non-fungible tokens (NFTs) on a blockchain and manage transfers through a smart contract.
   • DUse a smart contract to store item metadata but keep ownership records in the company's database.
   Reveal Solution Discussion Select an answer first
2. 7foundation · easy

   How do DAOs enable community governance?

   • AThrough a board of directors elected annually.
   • BThrough blockchain-based voting mechanisms where token holders vote on proposals.
   • CThrough offline meetings and paper ballots.
   • DThrough a central leadership team that makes all decisions.
   Reveal Solution Discussion Select an answer first
4. 8foundation · easy

   How does Filecoin relate to IPFS in the Web3 ecosystem?

   • AFilecoin is a cryptocurrency used to pay for storage on the IPFS network.
   • BFilecoin is a separate blockchain that has no connection to IPFS.
   • CFilecoin is a centralized cloud storage service.
   • DFilecoin is a protocol for creating smart contracts.
   Reveal Solution Discussion Select an answer first
5. 9foundation · easy

   What is the purpose of decentralized storage systems like IPFS in Web3?

   • ATo replace the blockchain for storing transaction data.
   • BTo encrypt all data so that only the owner can access it.
   • CTo provide a distributed and resilient way to store and retrieve data without a central authority.
   • DTo store data on a single centralized server for fast access.
   Reveal Solution Discussion Select an answer first
6. 10foundation · easy

   How does a Web3 wallet provide user identity in decentralized applications?

   • ABy requiring a government-issued ID to create a wallet.
   • BBy linking the user's social media account to the wallet.
   • CBy using the wallet's public address as a pseudonymous identifier.
   • DBy storing a username and password on the dApp's server.
   Reveal Solution Discussion Select an answer first