Y bot Quiz Answer Week 1-6

Y bot Quiz Answer Week 6

پاسخ کوییز Y Bot هفته ششم

Week 6 > Lesson 1 — NFTs

Q1: Why Google, YouTube, and other apps collect user data

A: To sell it to advertisers

Q2: How collecting and reselling user data is called

A: Data brokerage

Q3: What benefit regarding data is present in Web3

A: Data ownership

Q4: How many ads an average person sees in a day

A: 4000

Week 6 > Lesson 2 — Privacy Concerns and Data Sharing

Q1: Is the Incognito mode in Google Chrome web browser really private

A: No, it still allows Google to collect browsing data

Q2: How hackers can use leaked private data such as a person’s name and address

A: They will use social engineering to steal their funds

Q3: Which company has confirmed the data leak of its employees’ private information

A: Amazon

Q4: How many Instagram accounts are getting hacked monthly according to researchers

A: 36000

Week 6 > Lesson 3— Data Breaches and Centralized Storage Risks

Q1: What telecom giant was hacked, affecting 73 million customers

A: AT&T

Q2: Why do such data breaches affect millions of people

A: Because it is caused by centralization

Q3: What is the worst outcome of data breaches

A: Users’ payment data leaked

Q4: How many millions of users were affected in the Ticketmaster breach, one of the biggest data breaches in history

A: 560

Week 6 > Lesson 4 — Blockchain and Decentralized Identity

Q1: What is the problem with centralized entities that store private data

A: Centralisation implies a single-point of failure, meaning that a data

Q2: What is Self-Sovereign Identity

A: A concept of users owning their private data

Q3: How can Zero-Knowledge Proofs be used with SSI

A: To prove something about the SSI user without revealing the data

Q4: How much billion will the SSI industry be worth by 2031 as predicted by researchers

A: 120

Week 6 > Lesson 5 — Data Storage on Blockchain

Q1: What advantage does decentralization bring to blockchain networks

A: There is no central entity everything relies on

Q2: What projects have already developed blockchain storage solutions

A: Filecoin and Storj

Q3: What country stores its state documents on a blockchain

A: India

Q4: Which data storage structure looks decentralized

A: 1

Week 6 > Lesson 6 — Monetizing Personal Data in Web3

Q1: Who’s profiting from collecting users’ private data

A: Data collection companies

Q2: How does Brave browser provide rewards for its users

A: It gives them tokens for viewing privacy-respecting ads

Q3: Some blockchain-based data marketplaces enable users to sell

A: Anonymized private data.

Q4: How much billion USD is the data industry worth

A: 300

Week 6 > Lesson 7 — Introducing “Y” Passport

Q1: Why grow your Humanity Score

A: With a Humanity Score big enough you’ll unlock airdrops and other benefits from Y’s partners

Q2: How to grow your humanity score in Y Passport

A: By verifying your social accounts, and Web3 on-chain activity

Q3: Will you get Y points for the verifications

A: Yes

Q4: How can you download Y passport

A: Using Y bot

Week 6. Today’s Lesson 5 — Data Storage on Blockchain

Q1: What advantage does decentralization bring to blockchain networks

A: There is no central entity everything relies on

Q2: What projects have already developed blockchain storage solutions

A: Filecoin and Storj

Q3: What country stores its state documents on a blockchain

A: India

Q4: Which data storage structure looks decentralized

A: 1

Week 5 > Lesson 1 — What is DeFi

Q1: What are smart contracts

A: Self-executing agreements on blockchain

Q2: How users can earn a share of a DeFi service’s fees

A: Provide liquidity to it

Q3: What does “transparency” mean in DeFi

A: The code and operation history is transparent so anyone can study them

Q4: When did Ethereum introduce smart contracts

A: 2015

Week 5 > Lesson 2 — DeFi Platforms

Q1: What kind of DeFi service helps to secure blockchain networks

A: Staking

Q2: Where users can lend and borrow cryptocurrencies

A: On decentralized lending markets

Q3: Which DeFi services let users trade tokens with each other

A: Decentralized exchanges

Q4: What was the cumulative trading volume in billions of USD on Uniswap DEX till the end of 2024

A: 2

Week 5 > Lesson 3 — DeFi Passive Income

Q1:How to earn passive income with DeFi protocols

A: Provide liquidity and earn a share of rewards or fees

Q2: Which types of DeFi protocols offering passive income have the highest liquidity

A: Liquid staking

Q3: What system do most DeFi protocols use to automate liquidity allocation to counterparties

A: Pooling system

Q4: Pick the transaction for staking LP tokens in a farm

A: 1

Week 5 > Lesson 4 — DeFi

Active Income: Farming and Airdrops

Q1: What tokens represent a share in a liquidity pool on DEX

A: Liquidity provider token or LP

Q2: How are lending protocols useful in yield farming

A: They enable borrowing funds to leverage positions in DeFi and earn more.

Q3: Which airdrop was a disappointment with $3 reward on average

A: Hamster Kombat

Q4: How much did UNI Uniswap airdrop participants receive each

A: 400

Week 5 > Lesson 5 — Understanding Points Better

Q1: What are the points that some crypto projects give to their users

A: A part of a scoring system

Q2: Points earned in crypto projects can be exchanged for

A: Tokens after the project’s Token Generation Event or additional benefits

Q3: How much did Arbitrum and StarkNet airdrop participants earn on average

A: Over $1,000

Q4: What was the minimum amount in USD earned by StarkNet point collectors

A: 1350

Week 5 > Lesson 6 — Governance and DAOs

Q1: What does the DAO term mean

A: Decentralized Autonomous Organization

Q2: DAO funds its initiatives using its

A: Treasury

Q3:Who can make proposals in DAO

A: Any members with tokens of that DAO

Q4: How much value in billions DAOs were managing in 2023

A: 25

Week 5 > Lesson 7 — NFTs

Q1: The term NFT means

A: Non-Fungible Token

Q2: NFTs may have future utility in

A: Real-world asset tokenization

Q3: Which one is the famous NFT collection

A: CryptoPunks

Q4: How many millions of USD was the most expensive NFT sold for

A: 91

Week 4 – Exchanges in Crypto

هفته چهارم

Lesson 1 – Types of Exchanges in Cryptocurrency

Q1: What is one of centralized exchanges’ downsides

A: Funds security

Q2: What is a key feature of decentralized exchanges

A: DEX use smart contracts

Q3: What was the centralized exchange incident that caused $8 billion in losses

A: FTX exchange

Q4: How many million people use centralized exchanges

A: 500

Lesson 2 – Centralized Exchanges (CeFi): Operation and Basics

Q1: What is KYC

A: A client identification procedure

Q2: Where do CEXs store users’ deposits

A: In cold wallets

Q3: How do crypto withdrawal security measures work

A: They delay withdrawal or ask for additional confirmation to proceed

Q4: What image is related to KYC

A: Driver’s license

Lesson 3 – Risks of Centralized Exchanges

Q1: What is the main risk associated with centralized crypto exchanges

A: They control users’ crypto and can mismanage it, leading to losses

Q2: What was the cause of QuadrigaCX losing $190 million of users’ funds

A: CEO died and took all keys and passwords with him

Q3: Why have FTX users lost their funds

A: FTX used their funds for risky trades and lost them

Q4: How much BTC was stolen from the Mt. Gox exchange in 2014

A: 850000

Lesson 4 — Decentralized Exchanges (DEXs)

Q1: How are DEXs better than CEXs

A: They don’t require depositing funds and trusting them

Q2: DEXs infrastructure and operations are based on

A: Liquidity pools

Q3: Decentralized exchanges enable users

A: To provide liquidity and share trading fees

Q4: How much billions of USD does Uniswap have in its liquidity pools

A: 4.7

Lesson 5 — On-Ramps and Off-Ramps

Q1: What is the benefit of buying crypto on CEX

A: Users can buy crypto directly to their accounts to start trading

Q2: What is the benefit of using fiat on-ramp platforms

A: They are often integrated with wallets and apps.

Q3: How do P2P platforms work

A: They are like bulletin boards, where users publish proposals to buy or sell crypto for fiat

Q4: What was the total transaction volume on the Binance P2P market in 2020, in billions of USD

A: 7

Lesson 6 — Stablecoins Explained

Q1: What are stablecoins

A: Tokens that maintain a stable price and are pegged to some real-world assets

Q2: How do centralized stablecoins are backed

A: They are backed with fiat money at a one-on-one rate

Q3: How do decentralized stablecoins are backed

A: They are overcollaterized with crypto

Q4 USTD

Lesson 7 — Trading on Exchanges

Q1: What does high volatility mean

A: Prices change very fast and are unpredictable

Q2: Why is investing in new crypto projects risky

A: There are a lot of memecoins in the space that have no value and might rug investors

Q3: What are the trading hours on most crypto exchanges

A: 24/7 without any pauses

Q4: How many million USD was lost due to crypto rug pulls in 2023

A:130

Week 3 – Safety in Crypto

هفته سوم

Lesson 1 – What are Wallets and Their Types

Q1: What do crypto wallets actually store

Private keys

Q2: Where do non-custodial wallets store private keys

On the device where the wallet is installed

Q3: What kind of wallet is Metamask

Non-custodial wallet

Q4: How many millions of users do Ledger wallets have

6

Lesson 2 – Setting Up Your Wallet

Q1: How are non-custodial wallets better than custodial ones

Non-custodial wallets let users control their keys and funds

Q2: Why is it important to install wallets from the official websites

To prevent installing fake apps

Q3: What does the seed phrase contain

A private key

Q4: How many millions of USD were stolen due to poor private key management in 2023

560

Lesson 3 – Wallets and Private Keys

Q1: What does it mean to backup a crypto wallet recovery phrase

To copy it to a safe place.

Q2: What is the best place to store a wallet backup

A notepad, a USB stick, or any other offline physical storage

Q3: Who can you trust with your recovery phrase or private key

No one

Q4: What does a recovery phrase look like

A phrase of 12 words

Lesson 4 – Advanced Security Measures

Q1: What does 2FA stand for

Two-factor authentication

Q2: How are multisignature wallets different from regular ones

They require a transaction to be signed with multiple private keys

Q3: What is the safest wallet in the list

Hardware wallet

Q4: Pick the hardware wallet

Looks like a USB flash drive

Lesson 5 – Protecting Your Digital Identity

Q1: Why it’s important to keep crypto holdings a secret

There’s a chance thieves will use this information to rob you

Q2: What does cryptos’ pseudo-anonymity mean

One can’t identify the wallet’s owner identity without additional hints

Q3: Why it’s not wise to share your phone number and other contacts online

You’ll be targeted by scammers.

Q4: How many millions of USD has the most famous SIM swapping gang stolen

400

Lesson 6 – Understanding Scams in Crypto – Part 1

Q1: What is a Ponzi scheme

A scam that pays returns to older investors using the money from new investors

Q2: What is a rug-pull

A project that ends with founders stealing all invested money, rugging investors

Q3: How do scams lure crypto newcomers into investing money

They promise way higher returns than others exploiting greed

Q4: How many billions were lost by the investors of OneCoin, the biggest crypto scam in history

4

Lesson 7 – Understanding Scams in Crypto – Part 2

Q1: What is phishing in crypto

Luring people into fake apps to steal their crypto

Q2: How do romance scams trick people into sending crypto assets

By building fake virtual relationships and asking for funds

Q3: What are crypto drainers

Malicious smart contracts which drain the wallet once it is connected

Q4: The OpenSea phishing hack happened in

2022

Week 2 – Crypto Basics

هفته دوم

Lesson 1: What is Decentralization

Q1:A system where one central actor can control the whole system

Q2: A robust and highly reliable system without a central entity

Q3: Their accounts were frozen by government order

Lesson 2 – How Blockchain Works

Q1: What is blockchain

A special kind of database

Q2: Do Bitcoin transactions ever get deleted

No, Bitcoin blockchain stores all transactions and never deletes them

Q3: How are blockchains protected from missing and corrupted data

Each node stores its own copy of the blockchain

Lesson 3 – Cryptography basics

Q1: Why are cryptocurrencies called so

They use cryptography to maintain security

Q2: What is used to sign a cryptocurrency transaction

A private key

Q3: Why do blockchain networks store all old transactions

To verify users’ balance

Lesson 4 – Real-World Applications of Blockchain

Q1: What was Bitcoin’s original purpose

A peer-to-peer system for transferring digital assets

Q2: Blockchains are useful in every industry that needs

Accurate record tracking and automated value transfer

Q3: What benefit blockchain networks CAN NOT bring

Consistent energy generation

Lesson 5 – The Birth of Cryptocurrency

Q1: What is the common problem for all money

There’s a counterfeit problem.

Q2: When did researchers start experimenting with the digital money concept

In the 1980s

Q3: When was Bitcoin introduced

2008

Q4: What does Bitcoin use instead of a single centralized authority

A decentralized network of nodes.

Q5:What consensus mechanist does Bitcoin use

Proof of Work

Lesson 6 – Cryptocurrency vs Traditional Banking

Q1: How is Bitcoin superior to fiat money

It doesn’t need intermediaries to work

Q2: How does Bitcoin protect users’ funds on addresses

With cryptography

Q3: What do banks call Bitcoin

A threat to financial stability.

Lesson 7 – Comparing Bitcoin, Ethereum, and Altcoins

Q1: Which blockchain network brought smart contracts

Ethereum

Q2: What technology powers tokens, DeFi, and any blockchain apps

Smart contracts

Q3: Why are there so many blockchains

Developers invent something better and new

Q4: Pick the Ethereum Logo

2

Q5: Meme coins

Are driven by hype and speculation, lacking intrinsic value

Y bot Quiz Answer Week 1

پاسخ کوییز هفته اول Y bot

Week 1 – Money basics

Lesson 1 – What is Money

Q1: What is money

A medium of exchange

Q2: Coins were better than commodity money because

They were easy to carry and count

Q3: Why have people started exploring cryptocurrencies and new forms of money

Modern money isn’t backed by anything

Lesson 2 – Backed Money vs. Fiat Money

Q1: Paper money before the 1900s had

stable purchasing power because It was backed by gold

Q2: Modern fiat money has value because

The law makes it a legal tender

Q3: What is the average lifespan of fiat currency

(30 years)

Lesson 3 – Money Printing and Inflation

Q1: Money printing leads to

Money losing value

Q2: Savings don’t work as well as you’d like to because

Inflation makes money lose value

Q3: How much value has the US dollar lost in 50 years

(85)

Lesson 4 – Electronic Money and Payment Systems

Q1: What percentage of the world’s money exists as physical cash

(8)

Q2: Do banks hold clients’ money in cash

No. They only store a reserve — 10-20% of deposits in cash

Q3: Why do banks fail

They don’t have enough real cash

Q4: Money in which form can you truly own

Cash

Lesson 5 – Limitations of Traditional Banking

Q1: How much do banks make by charging fees

Over $34 billion a year

Q2: What is the “bounce fee

It’s the fee for failed payment

Q3: Why 1.4 billion people are unbanked

They can’t afford banks’ service fees

Q4: Where do most unbanked people live

African

Lesson 6 – Trading & Why Most Traders Lose Money

Q1: How many traders actually make a profit each year

(1.6)

Q2: Why do most new traders fail

They don’t have knowledge and rely on luck

Q3: Do most traders lose money in all markets

Yes. Most traders lose money no matter which market they trade

Q4: What is the percentage of novices who will quit trading in the first year

(80)

Lesson 7 – Online Betting and Forex

Q1: What is the vig

The percentage fee

Q2: How much do casinos earn in a year

Over $60 billion

Q3: Is it possible to make a living by betting and gambling

It’s impossible to win consistently because of the vig

Q4: What is the most unfair gambling activity Binary options

The vig of 7% means that a player betting $100

Q5: can have a payout of

(93)