Cryptocurrency Quiz Template

The Bitcoin white paper was released in 2009 by Satoshi Nakamoto. While there were some initial communications with the Bitcoin community, no one has heard from Nakamoto since 2011 and his exact identity remains shrouded in mystery.

Coinmarketcap is the number one platform for data on tradable cryptocurrencies. This includes the price, the total supply and exchanges the currency is trading on.

There are currently 16.8 million Bitcoins in circulation with the total supply being released by 2140.

A smart contract is an electronic version of a contract that is written onto a blockchain. Just like an ordinary contract, these can be used to facilitate the transfer of value between two untrusting parties. Unlike ordinary contracts, smart contracts are self executing and do not require a third party to oversee the transaction.

Litecoin is thought of as the Silver to Bitcoin's Gold. The network runs x4 times quicker than Bitcoin, producing a new block every 2.5 minutes vs. Bitcoin's 10 minutes. This allows a higher volume of transactions to flow, driving down the cost per transaction.

Gwei is the price per unit of Gas. The Gas Limit is the total amount of Gas that the sender wishes to use for any given transaction. Just like a car, the total cost of the transaction is the volume of fuel multiplied by the price per unit.

While most exchanges charge an average of 0.25% per transaction, some exchanges provide lower rates to loyal users. Traders demonstrate their loyalty to an exchange through purchasing their native token. For example, buying Binance (BNB) tokens allows users to trade on Binance at a 50% discounted rate.

The Bitconnect pyramid scheme gained widespread media attention for defrauding thousands of loyal users. Their business model relied on users to bring their friends and family onto the platform, rewarding people for referrals. Disgruntled users that lost large amounts of money have now filed a law suit against this crooked cryptocurrency.