Binance Decentralization Quiz Answers | Academy Course 3

Binance Decentralization Quiz Answers

Binance Decentralization quiz answers – After completing course 1 blockchain fundamental and course 2 crypto fundamental, the next course which is ‘decentralization’ is now available on Binance academy.

There are four modules and in this you will learn about DeFi, what are its use cases, decentralized applications (dApps) and how DAO works. 

Decentralized finance is a new way to manage money by using blockchain technology rather than old banking systems. You can lend, borrow, trade, or invest efficiently and securely via DeFi because you have complete control over your funds/assets.

DApps look similar to mobile apps but these are digital applications that run on blockchain networks and need smart contracts. More information you can read on Binance.

Binance Academy Course 3 Quiz

TimeEach of 5 minutes
No of questions1 question per quiz
Course 3Click here

Binance Decentralization Quiz Answers

  • Module 1: Introduction to DeFi

Which of the following statements are true?

Answer: Option a and d

  • Module 2: DeFi use cases

Which of the following is/are DeFi use cases?

Answer: Option b, d and e

  • Module 3: Smart contracts and DApps

Which of the following statements is/are correct?

Answer: Option b and c

  • Module 4: How does a DAO work?

Which of the following statements is/are correct?

Answer: Option a, b and d

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