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Lesson # 2
Understanding Gas Fees, Block Time & Finality
Blockchain Basics
1. What does “Gas Price” refer to in a blockchain transaction?
A. The total cost of the transaction
B. The amount you're willing to pay per unit of gas (in Gwei)
C. The total ETH being transferred
D. The maximum number of gas units a transaction can use
2. Which blockchain typically has the fastest transactions and lowest fees, due to parallel execution and Proof of History?
A. Ethereum
B. Aptos
C. Solana
D. Avalanche
3. On Ethereum, what happens if your transaction uses less gas than your set gas limit?
A. The unused gas is burned
B. You are only charged for the actual gas used
C. You are refunded double the leftover gas
D. The transaction is rejected
4. When is gas usually MOST expensive across many blockchains?
A. Weekends
B. During stablecoin farming
C. During NFT mint launches or airdrop claims
D. When network validators are asleep
5. Which of the following is TRUE about EVM-compatible chains like Arbitrum or Polygon?
A. They use entirely different wallet tools than Ethereum
B. They use the same gas logic but with lower fees and faster speeds
C. They require BTC to pay for gas
D. They are not compatible with smart contracts from Ethereum