Binance Learn And Earn Quiz Answers 2022 2023 – ALGO, POLYX, BNB, BUSD

Binance Learn And Earn Quiz Answers 2022 2023 – ALGO, POLYX, BNB, BUSD

Binance Algorand Quiz Answers (ALGO)

Q1. Algorand has a Governance Program that allows the community to vote on measures that impact the future of the blockchain. True or false?

Answer: True

Q2. What is the total supply of ALGO tokens?

Answer: 10 billion

Q3. What is the minimum stake needed to run a validator node in Algorand’s PPOS consensus mechanism?

Answer: 0.1 ALGO

Q4. Silvio Micali, founder of Algorand, is famous for being the co-inventor of which of the following technologies?

Answer: All are correct

Q5. Which of the following companies are building NFT and Web3 projects on Algorand?

Answer: All are correct

Q6. For each round, the network selects:

Answer: The block proposal with the lowest VRF hash

Q7. How fast is an Algorand block?

Answer: 3.7 seconds

Q8. How much does it cost to send a transaction in Algorand?

Answer: 0.001 ALGO

Q9. How many transactions per second (TPS) can Algorand process?

Answer: 6,000

Q10. Which consensus mechanism?

Answer: PPos

Binance Polymesh Quiz Answers (POLYX)

Q1. Who are Polymesh’s node operators?

Answer: Regulated financial entities only

Q2. What consensus mechanism does Polymesh use?

Answer: Proof-of-stake

Q3. Polymesh is the blockchain

Answer: Making tokenization accessible to institutions

Q4. How large is the securities market?

Answer: Hundreds of trillions of dollars

Q5. What are the next steps for Polymesh?

Answer: Stablecoins, MERCAT, Integrations, NFTs

Q6. Can you earn staking rewards with POLYX?

Answer: YES

Binance BUSD Quiz Answers (BUSD)

Q1. What is the name of the BUSD-pegged token Binance offers on BNB chain and other chains?

Answer: Binance-peg BUSD

Q2. What is the total supply of BUSD?

Answer: Just over 22 billion

Q3. Which chain is BUSD minted on by Paxos?

Answer: Ethereum

Q4. Who regulates BUSD?

Answer: NYDFS(New York Department of Financial Services)

Q5. Who mints BUSD?

Answer: Paxos

Q6. What fiat currency is BUSD pegged to?

Answer: U.S. Dollar

Q7. BUSD is backed 1:1 with:

Answer: Cash reserves

Q8. How can you purchase BUSD or Binance-Peg BUSD?

Answer: All are correct

Q9. What can BUSD be used for?

Answer: All are correct

Q10. Which of the following descriptions is incorrect?

Answer: BUSD doesn’t provide a monthly basis attestation report.

Binance BNB Quiz Answers (BNB)

Q1. BEP-2 BNB is the native coin of Ethereum. True or false?

Answer: False

Q2. What use cases does BNB have?

Answer: All are correct

Q3. Which token standards exist for BNB?

Answer: All are correct

Q4. Owning BNB provides you with a share of Binance’s profits.

Answer: False

Q5. Which token standards exist for BNB?

Answer: All are correct

Q6. BNB was originally issued as a:

Answer: ERC-20 token on Ethereum

Q7. Initial Sale Price?

Answer: 1 ETH for 2700 BNB and 1 BTC for 20,000 BNB

Q8. BNB launched through an initial game offering (IGO) in 2017?

Answer: False

Q9. Total supply of BNB?

Answer: 200 million BNB