Revolut's learn & earn crypto: all quiz answers

05/11/2024

To get started with Revolut's Learn and Earn Crypto feature, create your account with Revolut. Once your account is set up, you can dive into the crypto quizzes and earn rewards by demonstrating your knowledge about various cryptocurrencies, including Polkadot, 1inch, Avalanche, Algorand, NEAR, Axelar, iExec, Oasis, Sui, BONK, SEI, Floki, Cronos, Pyth, and Ethena.

Crypto basics

Lesson 1 of 4
Crypto vs fiat:

  1. Question: What is fiat money?
    Answer: Money issued by the government
  2. Question: What is the main difference between fiat currencies and cryptocurrencies?
    Answer: Cryptocurrencies are decentralized, fiat money is controlled by a central authority
  3. Question: Who validates transactions on the blockchain?
    Answer: Special users called "Miners" or "Validators".

Lesson 2 of 4
Cryptography in crypto:

  1. Question: Why is cryptography important for cryptocurrencies?
    Answer: It eliminates the need for a central supervisory authority, avoids double spending and increases security
  2. 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
  3. 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:

  1. Question: What is a blockchain?
    Answer: A decentralized database
  2. Question: Who can see the blockchain?
    Answer: Anyone with a computer and internet access
  3. 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:

  1. Question: What regulatory protection does a crypto asset have?
    Answer: None - Crypto is unregulated in most countries around the world.
  2. Question: How much can you lose by buying crypto?
    Answer: All - The value of your investment could fall to zero
  3. 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:

  1. Question: What are some limitations of early blockchains like Bitcoin?
    Answer: A low transaction speeds, high fees, and inability to communicate with other blockchains
  2. Question: What is Web 3.0?
    Answer: A new web based on decentralized technologies where users have more control over their data
  3. 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:

  1. Question: What is a relay chain?
    Answer: A blockchain that connects other blockchains together and allows them to communicate
  2. Question: What is a parachain?
    Answer: A blockchain that connects to the relay chain and works in parallel with other parachains
  3. 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:

  1. Question: Who can vote for new initiatives like network upgrades on the Polkadot Network?
    Answer: People holding a DOT token
  2. Question: What is Polkadot's "On-Chain Treasury"?
    Answer: A collection of tokens that can be used to support projects that benefit the network
  3. 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:

  1. Question: What is the name of Polkadot's native crypto token?
    Answer: DOT
  2. 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
  3. 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:

  1. Question: What are some use cases of Polkadot?
    Answer: NFTs, DeFi, Smart Cities
  2. 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
  3. Question: How do apps communicate on parachains?
    Answer: Via the relay chain

1inch

Lesson 1 of 3
Decentralised exchanges

  1. Question: Who facilitates an exchange on a DEX?
    Answer: No one. The exchange is made peer-to-peer
  2. Question: Which of the following is a decentralised exchange?
    Answer: Uniswap
  3. Question: What does DEX stand for in crypto?
    Answer: Decentralised exchange

Lesson 2 of 3 
How does 1inch get the best prices?

  1. Question: What is the name of 1inch's price search algorithm?
    Answer: Pathfinder
  2. Question: How does 1inch fond the best price?
    Answer: 1inch aggregates trade options across DEX platforms
  3. 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

  1. Question: Which of the following is a characteristic of a DAO?
    Answer: Decentralised
  2. Question: Who can vote on 1inch proposals?
    Answer: Users who stake their 1INCH tokens
  3. 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:

  1. Question: What is Nominated Proof of Stake?
    Answer: Polkadot's energy-efficient way of validation transactions
  2. Question: What are Nominators?
    Answer: Users who stage their DOT tokens by selecting validators
  3. 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:

  1. Question: Which of the following is not a benefit of Polkadot's multichain design?
    Answer: It allows users to earn rewards
  2. Question: What is blockchain interoperability?
    Answer: When blockchains can communicate and work together
  3. Question: Which of the following is not an aspect of interoperability on Polkadot?
    Answer: It's only for transferring tokens

Ethena

A project focused on providing a crypto-native synthetic dollar

Lesson 1 of 2
What is Ethena?

  1. Question: What is the primary objective of Ethena?
    Answer: To develop a stable, crypto-native dollar called USDe.
  2. Question: How does USDe maintain its stability?
    Answer: By using derivatives to hedge asset values.
  3. Question: What is the Internet Bond?
    Answer: A globally accessible dollar denominated rewards instrument.


Lesson 2 of 2
The ENA token:

  1. Question: What is the purpose of locking ENA within Ethena?
    Answer: To boost potential future rewards and encourage long-term growth alignment.
  2. Question: How much ENA is currently held in Pendle Finance PT-ENA pools?
    Answer: 160 million ENA.
  3. Question: What is the first use case for restaking pools for staked ENA?
    Answer: To provide economic security for cross-chain transfers of USDe.

Pyth

A quiz to learn about the Pyth Network.

Lesson 1 of 3

Introducing the Pyth Network

  • Question: What is the oracle problem?
    Answer: Blockchains can't function without nodes.

  • Question: Which statement represents Pyth's core business model?
    Answer: Pyth connects market data to blockchains.

  • Question: Which of the following categories are the majority of Pyth tokens used for?
    Answer: Ecosystem growth.

Lesson 2 of 3

Pyth Price Feeds

  • Question: Pyth price feeds consist of interactions between the following parties:
    Answer: Financial institutions, Pyth Network, and applications.

  • Question: What are the benefits of a pull oracle model vs a push oracle model?
    Answer: Trust, cost, and speed.

  • Question: How many cross-chain updates has Pyth published?
    Answer: Over 1 billion.

Lesson 3 of 3

Pyth Oracle Integrity Staking

  • Question: Who does Oracle Integrity Staking protect?
    Answer: DeFi applications and their users.

  • Question: When can stake tokens be slashed and distributed to impacted parties?
    Answer: When data providers publish inaccurate data.

  • Question: Pyth Network is the first oracle to…
    Answer: Offer protection for all published price feed data.

Overview of Answers for the Revolut Cryptocurrency Quiz

Each question is presented in the same sequence, no matter your app's chosen language or region. While you can answer them in order as listed, we recommend exploring the lessons first to enhance your understanding and knowledge.

Crypto basics answers table:

Question: Lesson 1 | Lesson 2 | Lesson 3 | Lesson 4
Question 1: 3 | 3 | 1 | 2
Question 2: 2 | 4 | 4 | 4
Question 3: 1 | 1 | 2 | 1

Polkadot answers table:

Question Lesson 1 | Lesson 2 | Lesson 3 | Lesson 4 | Lesson 5
Question 1: 3 | 4 | 1 | 3 | 4
Question 2: 1 | 1 | 3 | 1 | 2
Question 3: 2 | 2 | 4 | 1 | 1

1inch answers table:

Question Lesson 1 | Lesson 2 | Lesson 3
Question 1: 4 | 4 | 4
Question 2: 3 | 1 | 2
Question 3: 1 | 3 | 1

Polkadot Bonus answers table:

Question Lesson 1 | Lesson 2
Question 1: 2 | 4
Question 2: 3 | 4
Question 3: 4 | 2

Avalanche answers table:

Question Lesson 1 | Lesson 2
Question 1: 1 | 3
Question 2: 3 | 2
Question 3: 1 | 4

Algorand answers table:

Question Lesson 1 | Lesson 2
Question 1: 1 | 4
Question 2: 2 | 2
Question 3: 4 | 2

NEAR answers table:

Question Lesson 1 | Lesson 2
Question 1: 2 | 2
Question 2: 4 | 2
Question 3: – | 3

Axelar answers table:

Question Lesson 1 | Lesson 2 | Lesson 3
Question 1: 4 | 1 | 2
Question 2: 3 | 1 | 2
Question 3: 3 | – | 3

iExec answers table:

Question Lesson 1 | Lesson 2
Question 1: 4 | 3
Question 2: 3 | 2
Question 3: 4 | 3

Oasis answers table:

Question Lesson 1 | Lesson 2 | Lesson 3
Question 1: 3 | 3 | 2
Question 2: 3 | 3 | 2
Question 3: 4 | 2 | 3

Sui answers table:

Question Lesson 1 | Lesson 2 | Lesson 3 | Lesson 4
Question 1: 4 | 4 | 3 | 1
Question 2: 4 | 1 | 1 | 2
Question 3: 4 | 4 | 4 | 4

BONK answers table:

Question Lesson 1 | Lesson 2
Question 1: 2 | 3
Question 2: 4 | 3
Question 3: 1 | 3

SEI answers table:

Question Lesson 1 | Lesson 2 | Lesson 3 | Lesson 4
Question 1: 2 | 2 | 2 | 3
Question 2: 2 | 2 | 2 | 2
Question 3: 2 | 3 | 3 | 3

Floki answers table:

Question Lesson 1 | Lesson 2 | Lesson 3
Question 1: 2 | 2 | 3
Question 2: 4 | 4 | 3
Question 3: 1 | 4 | 1

Cronos answers table:

Question Lesson 1 | Lesson 2 | Lesson 3
Question 1: 3 | 4 | 2
Question 2: 1 | 3 | 3
Question 3: 2 | 3 | 4

Pyth answers table:

Question Lesson 1 | Lesson 2 | Lesson 3
Question 1: 2 | 1 | 2
Question 2: 3 | 3 | 1
Question 3: 4 | 3 | 4

Ethena answers table:

Question Lesson 1 | Lesson 2
Question 1: 2 | 3
Question 2: 3 | 2
Question 3: 1 | 2