CEX Quiz Answers 27 December 2024Open CE…

CEX Quiz Answers 27 December 2024
Open CEX IO Bot: https://t.me/cexio_tap_bot?start=1726737471260929
#CEXQuiz #CEXIOQuiz

1. What industry could smart contracts revolutionize by removing intermediaries?
– Real estate
2. How do smart contracts execute agreements?
– Automatically when conditions are met
3. What is cross-chain compatibility?
– Different blockchains communicating with each other
4. What is a key benefit of smart contracts?
– Eliminates the need for intermediaries
5. What humorous comparison is made about altering smart contracts?
– As impossible as getting your cat to do your taxes
6. What ensures the security of smart contracts?
– Their tamper-proof nature on the blockchain
7. How tamper-proof are smart contracts?
– Once on the blockchain, they cannot be altered
8. What is a smart contract?
– A self-executing agreement with terms written into code
9. What is a potential risk of smart contracts?
– Coding errors leading to unexpected outcomes
10. What analogy is used to describe smart contracts?
– Digital vending machines
11. What advancement in 2024 is mentioned for smart contracts? –Integration with artificial intelligence
12. What is essential before deploying smart contracts?
– Thorough testing and proper security measures