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In this guide, you’ll learn the Revolut Polkadot quiz answers for the crypto learn feature to earn $15 in DOT.
Revolut Polkadot Quiz Answers
Lesson 1: 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 built around decentralized technologies where users have more control over their data
Question: How does Polkadot address some of the limitations of earlier blockchains?
Answer: It allows multiple blockchains to communicate with each other and process transactions at the same time
Lesson 2: How Polkadot works
Question: What is a relay chain?
Answer: A blockchain that connects other blockchains and allows them to communicate
Question: What is a parachain?
Answer: A blockchain that connects to the Relay Chain and operates in parallel to other parachains
Question: What problems do parachains and relay chains solve?
Answer: The inability of blockchains to communicate with each other
Lesson 3: Who decides the future of Polkadot
Question: Who can vote for new initiatives like network upgrades on the Polkadot Network?
Answer: People who hold DOT token
Question: What is Polkadots ‘On-Chain Treasury’?
Answer: A pot of tokens that can be used to support projects that benefit the network
Question: How does Polkadot’s governance system differ from some other popular blockchains?
Answer: It’s governed by a community through voting
Lesson 4: DOT Token
Question: What is Polkadot’s native crypto token called?
Question: What does ‘staking’ your DOT tokens mean?
Answer: Helping secure the network by locking up DOT tokens, in return for a reward in DOT tokens
Question: What does ‘bonding’ your DOT tokens mean?
Answer: Locking up tokens in order to secure a slot for your parachain on the relay chain
Lesson 5: Polkadot and its uses
Question: What are some use cases of Polkadot?
Answer: NFTs, DeFi, powering smart cities
Question: What makes applications built on Polkadot different from the apps on your phone?
Answer: Polkadot apps don’t need to rely on a middleman to work, and can keep your data safer
Question: How do apps on parachains communicate?
Answer: Via the Relay Chain