Binance Algorand Quiz Answers

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Algorand was founded in 2017 before launching the mainnet and ALGO token in June 2019. Blockchains address common issues of scalability and consensus mechanisms common to first and second generation blockchains. A key feature of Algorand is the Pure Proof of Stake consensus protocol that randomly selects validators weighted by staked ALGO coins.

Binance Algorand QuizDetails

Binance Learn & Earn QuizDetails
Quiz Date & Time7th December 2022 at 09:00 UTC
Quiz TypeLearn & Earn
RewardsAlgorand (ALGO) Tokens
Winners SelectionFirst Come, First Served!
Binance Quiz LinkVisit Here

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Binance Algorand Quiz Answers

Q1) Algorand has a Governance Program that allows the community to vote on measures that impact the future of the blockchain. True or false?
Answer: True
Q2) What is the total supply of ALGO tokens?
Answer: 10 billion
Q3) What is the minimum stake needed to run a validator node in Algorand’s PPOS consensus mechanism?
Answer: 0.1 ALGO
Q4) Silvio Micali, founder of Algorand, is famous for being the co-inventor of which of the following technologies?
Answer: All are correct
Q5) Which of the following companies are building NFT and Web3 projects on Algorand?
Answer: All are correct
Q6) For each round, the network selects:
Answer: The block proposal with the lowest VRF hash
Q7) How fast is an Algorand block?
Answer: 3.7 seconds
Q8) How much does it cost to send a transaction in Algorand?
Answer: 0,001 ALGO
Q9) How many transactions per second (TPS) can Algorand process?
Answer: 6,000
Q10) What is Algorand’s consensus mechanism?
Answer: Pure Proof-of-stake (PPoS)

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