To get started with Revolut's Learn and Earn Crypto feature, you will first need to create an account with Revolut. Once you have set up your account, you can start answering quiz questions and demonstrating your insights about Polkadot and 1inch crypto to earn around $5 in rewards. And to make your journey even smoother, we have compiled all of the quiz answers for you in one comprehensive article. Don't wait any longer, create your Revolut account now and start enhancing your crypto investments with the Learn and Earn Crypto feature.
Crypto basics
Lesson 1 of 4
Crypto vs fiat:
- Question:What is fiat money?
Answer: Money issued by the government - Question:What is the main difference between fiat currencies and cryptocurrencies?
Answer: Cryptocurrencies are decentralized, fiat money is controlled by a central authority - Question:Who validates transactions on the blockchain?
Answer: Special users called "Miners" or "Validators".
Lesson 2 of 4
Cryptography in crypto:
- Question:Why is cryptography important for cryptocurrencies?
Answer: It eliminates the need for a central supervisory authority, avoids double spending and increases security - Question:What are private and public keys?
Answer: A public key is like an account number and a private key is like the associated password - Question:Which statement is true about private and public keys?
Answer: It is impossible to find out a person's private key by looking at their public key.
Lesson 3 of 4
Basics of blockchain:
- Question:What is a blockchain?
Answer: A decentralized database - Question:Who can see the blockchain?
Answer: Anyone with a computer and internet access - Question:What distinguishes the blockchain from a regular database?
Answer: It is not controlled by a central party and can be viewed by anyone.
Lesson 4 of 4
Risks of crypto:
- Question:What regulatory protection does a crypto asset have?
Answer: None - Crypto is unregulated in most countries around the world. - Question:How much can you lose by buying crypto?
Answer: All - The value of your investment could fall to zero - Question:When Wouldn't It Be Right to Buy Crypto?
Answer: If you are in debt or you can't afford to lose more than you invested
Polkadot
Lesson 1 of 5
Intro to Polkadot:
- Question:What are some limitations of early blockchains like Bitcoin?
Answer: A low transaction speeds, high fees, and inability to communicate with other blockchains - Question:What is Web 3.0?
Answer: A new web based on decentralized technologies where users have more control over their data - Question:How does Palkadot circumvent some of the limitations of previous blockchains?
Answer: It allows multiple blockchains to communicate with each other and process transactions at the same time
Lesson 2 of 5
How Polkadot works:
- Question:What is a relay chain?
Answer: A blockchain that connects other blockchains together and allows them to communicate - Question:What is a parachain?
Answer: A blockchain that connects to the relay chain and works in parallel with other parachains - Question:What problems do parachains and relay chains solve?
Answer: The inability of blockchains to communicate with each other
Lesson 3 of 5
Who decides to future of Polkadot:
- Question:Who can vote for new initiatives like network upgrades on the Polkadot Network?
Answer: People holding a DOT token - Question:What is Polkadot's "On-Chain Treasury"?
Answer: A collection of tokens that can be used to support projects that benefit the network - Question:How is Polkadot's governance system different from some other popular blockchains?
Answer: It is governed by a community by vote
Lesson 4 of 5
DOT Token:
- Question:What is the name of Polkadot's native crypto token?
Answer: DOT - Question:What is staking your DOT tokens?
Answer: Help secure the network by temporarily locking DOT tokens in exchange for a reward in DOT tokens - Question:What is the "bonding" of your DOT tokens?
Answer: Blocking tokens to secure a spot for your parachain on the relay chain
Lesson 5 of 5
Polkadot and its uses:
- Question:What are some use cases of Polkadot?
Answer: NFTs, DeFi, Smart Cities - Question:What distinguishes applications based on Polkadot from the apps on your phone?
Answer: Polkadot apps don't need a middleman for your work and can better protect your data - Question:How do apps communicate on parachains?
Answer: Via the relay chain
Lesson 1 of 3
Decentralised exchanges
- Question:Who facilitates an exchange on a DEX?
Answer:No one. The exchange is made peer-to-peer - Question:Which of the following is a decentralised exchange?
Answer:Uniswap - Question:What does DEX stand for in crypto?
Answer:Decentralised exchange
Lesson 2 of 3
How does 1inch get the best prices?
- Question:What is the name of 1inch's price search algorithm?
Answer:Pathfinder - Question:How does 1inch fond the best price?
Answer:1inch aggregates trade options across DEX platforms - Question:Which of the following is not a feature of 1inch's Pathfinder?
Answer:Provide directions to your destination
Lesson 3 of 3
DAOs and governance
- Question:Which of the following is a characteristic of a DAO?
Answer:Decentralised - Question:Who can vote on 1inch proposals?
Answer:Users who stake their 1INCH tokens - Question:What is an example of a proposal that 1inch DAO members could vote on?
Answer:Allocating treasury funds for a particular proposal
Polkadot Bonus
Lesson 1 of 2
Staking with Polkadot:
- Question: What is Nominated Proof of Stake?
Answer: Polkadot's energy-efficient way of validation transactions - Question: What are Nominators?
Answer:Users who stage their DOT tokens by selecting validators - Question: What are the main reason for users to participate in staking?
Answer: To help secure the network and earn DOT rewards
Lesson 2 of 2
Linking the chains:
- Question: Which of the following is not a benefit of Polkadot's multichain design?
Answer: It allows users to earn rewards - Question: What is blockchain interoperability?
Answer: When blockchains can communicate and work together - Question: Which of the following is not an aspect of interoperability on Polkadot?
Answer: It's only for transferring tokens
