Cryptocurrency fundamentals: quiz

6 questions. Score 70% or more to pass. Not ready? Study the course first.

Which of these uniquely identifies a Solana token? Its ticker symbol Its mint address Its logo Its name

Your wallet shows two tokens both labeled 'BONK'. What should you compare to confirm which one is the legitimate token? The token's mint address The token's ticker symbol The token's logo image The order it appears in your wallet

A token has a total supply of 10,000,000 but only 2,000,000 are currently circulating. What does this tell a trader? A large portion of tokens could enter the market later, potentially affecting price The token cannot be traded until all supply is released The token's price is fixed regardless of future unlocks The mint address will change once full supply circulates

When a swap on Solana is described as 'settled', what has actually happened? The transaction has been recorded on-chain and asset ownership has changed The trader has only submitted the transaction for consideration The transaction has been rejected by validators The trade price has been locked but assets have not moved yet

Why do traders often wait for 'finality' before treating a large Solana transaction as fully complete? Because finality means the transaction can no longer be reversed or reorganized Because finality determines the transaction fee amount Because finality only applies to token creation, not trading Because finality happens before the transaction is even signed

A memecoin project claims it can mint unlimited new tokens at any time. How does this affect its supply dynamics compared to a fixed-supply token? Its circulating supply can increase indefinitely, potentially diluting value Its total supply is locked forever once minted Its mint address changes every time new tokens are created It becomes immune to price fluctuations since supply is flexible