Test Your Knowledge
Earn 100 Diamonds for every perfect score!
1. What is one of the core elements of the DeFi ecosystem?
A) Traditional financial institutions
B) Cryptocurrency Mining
C) Centralized Exchanges (CEX)
D) Settlement Layer (Zero Layer)
2. How does DeFi differ from traditional financial systems?
A) DeFi uses centralized authorities for transactions.
B) DeFi eliminates intermediaries, allowing users to engage directly with services via smart contracts.
C) DeFi requires traditional banks for transaction validation.
D) DeFi does not use blockchain technology.
3. What is one of the major advantages of DeFi?
A) Users need approval from banks for transactions.
B) Financial services are limited to specific regions.
C) DeFi platforms offer financial inclusion and access to global users.
D) DeFi platforms have high transaction fees due to intermediaries.