Category: Cryptocurrency markets

Discover the key to acing the Revolut Quiz with our comprehensive guide to Revolut Quiz Answers. Learn everything you need to know about Revolut, its features, and benefits to help you breeze through the quiz and unlock the rewards.

Are you a Revolut user looking to take your knowledge to the next level? The Revolut Quiz is an excellent way to test your knowledge of Revolut’s features, services, and benefits. However, with the Quiz being notoriously tricky, it can be a challenge to get a perfect score.

Thankfully, our comprehensive guide to Revolut Quiz Answers has got you covered. Our expert team has carefully compiled a list of all the answers you need to know to ace the quiz and unlock the rewards.

Quick access to Revolut quiz answers:

• Revolut Crypto Basic questions and answers
• Revolut Polkadot questions and answers
• Revolut 1inch questions and answers
• Revolut Polkadot Bonus questions and answers
• Revolut Avalanche questions and answers answers
• Revolut Algorand questions and answers answers
• Revolut NEAR questions and answers answers

Crypto Basic

In this lesson you will be learn basic knowledge about Crypto Basic.

Crypto Basic has 4 lessons and 4 simple quiz where we can win Polkadot (DOT) cryptocurrency.

See full article with video how to answer in Polkadot quiz in Revolut >>

Lesson 1 – questions and answers “Crypto vs Fiat”

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

Lesson 2 – questions and answers “Cryptography in crypto”

• Question 1: Why is cryptography important for cryptocurrencies?
  • Answer: It removes the need for a central authority, prevents double spending, and adds security
• Question 2: What are private and public keys?
  • Answer: A public key is like your account number and your private key is like your password
• Question 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 – questions and answers “Basic of blockchain”

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

Lesson 4 – questions and answers “Risk of crypto”

• Question 1: What regulatory protections does your crypto have?
  • Answer: None – crypto is not regulated in most countries around the world
• Question 2: How much you can lose if you buy crypto?
  • Answer: Everything – your investment could go to zero
• Question 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

Polkadot answers

In this lesson you will be learn basic knowledge about Polkadot cryptocurrency.

Polkadot quiz has 5 lessons and 5 simple quiz where we can win Polkadot (DOT) cryptocurrency.

See full article with video how to answer in Polkadot quiz in Revolut >>

Lesson 1 – questions and answers “Into to Polkadot”

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

Lesson 2 – questions and answers “How Polkadot works”

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

Lesson 3 – questions and answers “Who decides the future of Polkadot”

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

Lesson 4 – questions and answers “DOT Token”

• Question 1: What is Polkadot’s native crypto token called?
  • Answer: DOT
• Question 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
• Question 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 – questions and answers “Polkadot and its uses”

• Question 1: What are some use cases of Polkadot?
  • Answer: NFTs, DeFi, powering smart cities
• Question 2: What makes applications build on Pokadot 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
• Question 3: How do apps on parachains communicate?
  • Answer: Via the Relay Chain

1inch answers

In this lesson you will learn about 1inch and how they can find the cheapest trades, efficiently.

1inch quiz has 3 lessons and 3 simple quiz where we can win 1inch cryptocurrency.

See full article with video how to answer in 1inch quiz in Revolut >>

Lesson 1 – questions and answers “Decentralised exchanges”

• Question 1: Who facilitates an exchange on a DEX?
  • Answer: No one. The exchange is made peer-to-peer
• Question 2: Which of the following is a decentralised exchange?
  • Answer: Uniswap
• Question 3: What does DEX stand for in crypto?
  • Answer: Decentralised exchanges

Lesson 2 – questions and answers “How do DEX aggregators work?”

• Question 1: What is the name of inch’s price search algorithm?
  • Answer: Pathfinder
• Question 2: How does inch compare prices?
  • Answer: 1inch aggregates trade options across DEX platforms
• Question 3: Which of the following is not a feature of 1inch’s Pathfinder?
  • Answer: Provide directions to your destination

Lesson 3 – questions and answers “How do DEX aggregators work?”

• Question 1: Which of the following is a characteristic of a DAO?
  • Answer: Decentralised
• Question 2: Who can vote on 1inch proposals?
  • Answer: Users who stake their 1INCH tokens
• Question 3: What is an example of a proposal DAO members could vote on?
  • Answer: Allocating treasury funds for a particular proposal

Polkadot Bonus answers

Polkadot Bonus quiz has 2 lessons and 2 simple quiz where we can win DOT cryptocurrency.

See full article with video how to answer in Polkadot Bonus quiz in Revolut >>

Lesson 1 – questions and answers “Staking with polkadot”

• Question 1: What is Nominated Proof of Stake?
  • Answer: Polkadot’s energy-efficient way of validating transactions
• Question 2: What are Nominators?
  • Answer: Users who stake their DOT tokens by selecting validators
• Question 3: What are the main reasons for users to participate in staking?
  • Answer: To help secure the network and earn DOT rewards

Lesson 2 – questions and answers “Linking the chains”

• Question 1: Which of the following is not a benefit of Polkadot’s multichain design?
  • Answer: It allows users to earn rewards
• Question 2: What is blockchain interoperability?
  • Answer: When blockchains can communicate and work together
• Question 3: Which of the following is not an aspect of interoperability on Polkadot?
  • Answer: It’s only for transferring tokens

Avalanche answers

The Avalanche test consists of 2 lessons, after which you will receive approximately $1.5 USD. Prize value may vary by country.

See full article with video how to answer in Avalanche quiz in Revolut >>

Lesson 1 – What is Avalanche?

• Question 1: What is Avalanche’s native token?
  • Answer: AVAX
• Question 2: Which is true about the Avalanche Consensus Protocol?
  • Answer: The Avalanche Consensus Protocol uses less energy than other blockchains
• Question 3: Which of these is a requirement to be an Avalanche validator?
  • Answer: Stake at least 2,000 AVAX tokens

Lesson 2 – How does Avalanche scale?

• Question 1: What does Avalanche use to improve transaction speed?
  • Answer: Subnets
• Question 2: Why are Subnet’s membership options useful for financial services companies?
  • Answer: They can support compliance requirements
• Question 3: Which of the following is a benefit of Subnets for users, long-term?
  • Answer: More affordable gas fees

Algorand answers

The Algorand test consists of 2 lessons, after which you will receive approximately 0,4 PLN. Prize value may vary by country.

See full article with video how to answer in Algorand quiz in Revolut >>

Lesson 1 – Intro to Algorand

• Question 1: Which of the following is true about transactions on Algorand?
  • Answer: They are secure, super fast, and low in cost
• Question 2: What is Algorand’s consensus protocol?
  • Answer: Pure Proof of Stake
• Question 3: How is Algorand different from other blockchains?
  • Answer: It doesn’t fork

Lesson 2 – Algorand & Sustainability

• Question 1: What makes Algorand sustainable?
  • Answer: All of the above
• Question 2: What happens when a governor fails to maintain their stake of ALGO during the governance period?
  • Answer: They will lose their governance rewards
• Question 3: How does Algorand stay carbon neutral?
  • Answer: By partnering with global organisations to offset carbon emissions

NEAR answers

The NEAR test consists of 2 lessons, after which you will receive approximately 0,8 PLN. Prize value may vary by country.

Lesson 1 – Intro to NEAR

• Question 1: What is NEAR Protocol?
  • Answer: A proof-of-stake, Layer 1 blockchain
• Question 2: What is the purpose of Nightshade Sharding in NEAR’s blockchain?
  • Answer: To enhance scalability and efficiency in transaction processing

Lesson 2 – Blockchain Operating System

• Question 1: What is the Blockchain Operating System (BOS)?
  • Answer: An operating system designed specifically for Web3
• Question 2: What’s the main purpose of the BOS in the NEAR Protocol ecosystem?
  • Answer: To allow developers to easily build and distribute decentralised apps
• Question 3: What types of applications can be found on the BOS?
  • Answer: Social media apps, loyalty programs, NFT marketplaces, and more