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Free Certified Web3 Professional (CW3P) - 101 Blockchains Exam Questions and Answers
Last updated: February 19, 2025
Examtopics Certified Web3 Professional (CW3P) - 101 Blockchains Prepaway Real Exam Questions and dumps free download
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Certified Web3 Professional (CW3P) - 101 Blockchains
#Question
What does a decentralized finance (DeFi) platform typically offer?
A.
High transaction fees
B.
Centralized governance
C.
Regulation and control
D.
Peer-to-peer lending
Correct Answer:
D
DeFi platforms typically provide financial services like lending and borrowing without intermediaries, facilitating peer-to-peer transactions.
#Question
How does yield farming differ from traditional farming?
A.
It is done in nature
B.
It involves livestock
C.
It takes longer
D.
It focuses on financial assets
Correct Answer:
D
Yield farming involves earning returns or rewards from financial assets through digital means, contrasting with traditional farming practices.
#Question
What is the main objective of conducting a liquidity provision in DeFi?
A.
To create new tokens
B.
To stabilize the token price
C.
To earn transaction fees
D.
To promote exchanges
Correct Answer:
B
A main objective of providing liquidity in DeFi is to stabilize and support token prices by ensuring there's adequate liquidity in the market.
#Question
Which of the following is a feature of a non-fungible token (NFT)?
A.
Interchangeable
B.
Divisible
C.
Unique
D.
None of the above
Correct Answer:
C
Non-fungible tokens (NFTs) are unique digital assets that cannot be exchanged on a one-to-one basis, unlike fungible tokens.
#Question
What does the term 'dApp' stand for?
A.
Domain-based Application
B.
Digital Asset Payment
C.
Distributed Agreement
D.
Decentralized Application
Correct Answer:
D
dApp stands for Decentralized Application, which runs on a peer-to-peer network, rather than being hosted on a centralized server.
#Question
What is the primary function of a decentralized application (DApp)?
A.
To operate independently and autonomously
B.
To manage user data
C.
To process transactions
D.
To run on a single server
Correct Answer:
A
A DApp operates on a decentralized network, which allows it to function autonomously without a single point of failure.
#Question
Which cryptocurrency is known for its smart contract functionality?
A.
Ripple
B.
Bitcoin
C.
Ethereum
D.
Litecoin
Correct Answer:
C
Ethereum is well-known for its robust smart contract functionality, enabling developers to build decentralized applications (DApps) on its blockchain.
Certified Web3 Professional (CW3P) - 101 Blockchains
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