Binance Algorand Quiz Answers: Participate in the new Binance’s learn & earn ALGO quiz and earn assured free cryptocurrency in your account.
{tocify}$title={Table of Contents}What is ALGO?
Algorand is a blockchain network and project founded in 2017 by Professor Silvio Micali, a computer scientist from MIT that has won the Turing Award and is considered one of the forefathers of modern cryptography. The mainnet network launched in June 2019 along with its native cryptocurrency, ALGO. As mentioned, the blockchain focuses on improved scalability and also supports smart contracts. The Algorand network is a public, decentralized, Pure Proof-of-Stake blockchain with support for customized layer-1 blockchains. These can be used to create blockchains tailored for specific uses. The project claims it has solved the trilemma and its technology is particularly useful for financial services, decentralized finance (DeFi), fintech, institutions and the creator economy.
How To Participate In Binance Learn & Earn Quiz?
- Click on the link given below and create Binance accoun if you do not have one.
- Click on login and register on Binance with your valid mobile/email id.
- Must complete your KYC verification which is mandatory for collecting rewards.
- On the Binance app dashboard tap on learn & earn banner or directly visit here.
- Take the Alpine quiz and earn an assured crypto reward, answers are given below.
- Rewards are limited and are available on a first-come, first-served basis.
- Users can only claim the reward for each course after completing the quiz.
Binance ALGO Quiz Answers
Question 1: Silvio Micali, founder of Algorand, is famous for being the co-inventor of which of the following technologies?
Answer is : All are correct
Question 2: What is the total supply of ALGO tokens?
Answer is : 10 billion
Question 3: How fast is an Algorand block?
Answer is : 3.7 seconds
Question 4: How many transactions per second (TPS) can Algorand process?
Answer is : 6,000
Question 5: What is Algorand’s consensus mechanism?
Answer is : Pure Proof-of-stake (PPoS)
Question 6: What is the minimum stake needed to run a validator node in Algorand’s PPoS consensus mechanism?
Answer is : 0.1 ALGO
Question 7: How much does it cost to send a transaction in Algorand?
Answer is : 0,001 ALGO
Question 8: For each round, the network selects:
Answer is : The block proposal with the lowest VRF hash.
Question 9: Algorand has a Governance Program that allows the community to vote on measures that impact the future of the blockchain. True or false?
Answer is : True
Question 10: Which of the following companies are building NFT and Web3 projects on Algorand?
Answer is : All are correct