What are Smart Contracts and How They Power Web3?

Test Your Knowledge

1. What is a key advantage of smart contracts?

A) They can be changed after deployment.

B) They eliminate the need for intermediaries.

C) They require manual intervention for execution.

D) They are governed by a centralized authority.

2. What limitation do smart contracts face?

A) They are not secure.

B) They cannot access real-time data without external input.

C) They can be easily manipulated.

D) They cannot be used in blockchain networks.

3. Who introduced the concept of smart contracts?

A) Satoshi Nakamoto

B) Vitalik Buterin

C) Nick Szabo

D) Charles Hoskinson