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Year 11 Exam  >  Year 11 Tests  >  Computer for GCSE/IGCSE  >  Test: Digital Currency - Year 11 MCQ

Test: Digital Currency - Year 11 MCQ


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10 Questions MCQ Test Computer for GCSE/IGCSE - Test: Digital Currency

Test: Digital Currency for Year 11 2024 is part of Computer for GCSE/IGCSE preparation. The Test: Digital Currency questions and answers have been prepared according to the Year 11 exam syllabus.The Test: Digital Currency MCQs are made for Year 11 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Digital Currency below.
Solutions of Test: Digital Currency questions in English are available as part of our Computer for GCSE/IGCSE for Year 11 & Test: Digital Currency solutions in Hindi for Computer for GCSE/IGCSE course. Download more important topics, notes, lectures and mock test series for Year 11 Exam by signing up for free. Attempt Test: Digital Currency | 10 questions in 20 minutes | Mock test for Year 11 preparation | Free important questions MCQ to study Computer for GCSE/IGCSE for Year 11 Exam | Download free PDF with solutions
Test: Digital Currency - Question 1
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What is one of the main features of digital currencies?

Detailed Solution for Test: Digital Currency - Question 1
Digital currencies lack a physical form and exist exclusively in digital wallets or accounts.
Test: Digital Currency - Question 2
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How are transactions in digital currencies generally validated?

Detailed Solution for Test: Digital Currency - Question 2
Transactions in digital currencies are validated by multiple participants in a decentralized network.
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Test: Digital Currency - Question 3
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Which of the following is NOT a typical use of digital currencies?

Detailed Solution for Test: Digital Currency - Question 3
Digital currencies are used for online purchases, international money transfers, and investment activities but not for physical cash withdrawals.
Test: Digital Currency - Question 4
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What makes blockchain technology secure and tamper-resistant?
Detailed Solution for Test: Digital Currency - Question 4
Blockchain technology uses cryptographic techniques to link blocks of transactions, making it secure and tamper-resistant.
Test: Digital Currency - Question 5
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What role do "blocks" play in blockchain technology?
Detailed Solution for Test: Digital Currency - Question 5
In blockchain technology, blocks contain groups of transactions that are linked together in a chain.
Test: Digital Currency - Question 6
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Why are digital currencies considered volatile?
Detailed Solution for Test: Digital Currency - Question 6
Digital currencies exhibit high volatility, experiencing rapid value fluctuations within short timeframes.
Test: Digital Currency - Question 7
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Which digital currency is NOT mentioned?
Detailed Solution for Test: Digital Currency - Question 7

Bitcoin, Ethereum, Litecoin, and Ripple but not Dogecoin.

Test: Digital Currency - Question 8
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How does decentralization benefit blockchain technology?
Detailed Solution for Test: Digital Currency - Question 8
Decentralization in blockchain technology allows independent verification of transactions by network participants.
Test: Digital Currency - Question 9
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What is required for a transaction to be added to the blockchain?
Detailed Solution for Test: Digital Currency - Question 9
For a transaction to be added to the blockchain, it needs to be validated by multiple network participants.
Test: Digital Currency - Question 10
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Why might digital currencies pose investment risks?
Detailed Solution for Test: Digital Currency - Question 10
Digital currencies are highly volatile, which poses investment risks due to rapid value fluctuations.
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Important Questions for Digital Currency

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Digital Currency MCQs with Answers

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