CRYPTOCURRENCY Flashcards
___ is any form of currency that exists digitally or virtually and uses cryptography to secure transactions
Cryptocurrency
It is supported by a decentralized peer-to-peer network called the___
BLOCKCHAIN
Bitcoin was introduced in
2009
Who is said to be the founder of Bitcoin?
Satoshi Nakamoto
___ is a government-issued currency that is not backed by a commodity such as gold.
Fiat Currency
All the transactions ever made are contained in a publicly available, open ledger, although in an anonymous and an encrypted form called :
Blockchain
Which is the smallest fraction of a Bitcoin?
Satoshi
___ functions like a bank where a person buys and sells Bitcoins with traditional currency
Bitcoin Exchange
How much tax on income from virtual assets was announced?
30%
Which was the first country to adopt Bitcoin as legal tender?
El Savarado
Which is the second country in latest to get Bitcoin as a legal tender?
Central African Republic (CAR)
Which country is home to the largest remittance market in the world?
India
(mudi ji ki jai)
___ are a few notable examples of cryptocurrencies
Bitcoin, Ethereum, Ripple
Which bill seeks to prohibit all private cryptocurrencies in India?
Cryptocurrency and Regulation of Official Digital Currency Bill, 2021
Blockchain and crypto assets will be an integral part of the ____ Industrial Revolution
Fourth
RBI is also going to launch its own digital currency named:
Central Bank Digital Currency
will be a fiat money not Cryptocurrency
CBDC will be launched by amednments in
Reserve Bank of India Act , 1934
Who was the first country to launch its own digital currency?
Bahamas
“Sand Dollar”
Name of Nigeria’s Digital Currency
e-Naira
Name of China’s DC
e-CNY (Chinese Yuan Renminbi)
In Blockchain Tech. , info. is stored in :
Blocks
Block has three parts named:
- DATA(relevant info. stored)
- HASH(a unique code generated)
- PrevHASH(the HASH of previous connected Blocks)
What is the first block of the chain named as?
Genesis Block
If someone want to change data in a block , it has to get majority votes . What is this process called?
Consensus Rule
Which is the world’s largest blockchain network?
KSI Blockchain , Estonia
Name of Britain’s BC
NDTp(National Digital Twin programme)
Name of China’s BC
BSN
India me bahot h , to uski kya hi baat krni h (jai mudi ji)
