Binance Algorand Quiz Answers: Earn ALGO Tokens
A new quiz course has been added in the learn and earn section on Binance academy. To crack this quiz course you can refer to the Binance Algorand quiz answers that will be updated soon on this page.
Users who complete the quiz on a first come first served basis can be rewarded with assured crypto tokens. The topic is about Algorand blockchain network and its native token ALGO.
Algorand is a blockchain network based on pure proof of stake consensus mechanism. It mainly focuses on improving scalability without sacrificing decentralization.
Its pure proof of stake protocol can deliver blocks instantly on an average of 3.7 sec and can process up to 6,000 transactions per second. ALGO is the native token of Algorand.
ALGO can be used for paying transaction fees on the Algorand network. As compared to other networks, it requires a minimum fee of 0.001 ALGO.
For more information regarding Algorand, you can visit the Binance academy learn and earn page. The activity is for all Binance users and will commence on 7th December 2022.
| Quiz | Details |
| Topic | Algorand (ALGO) |
| Date | 7th December 2022 at 09:00 UTC |
| Rewards | ALGO tokens |
| Winners | First come, first served! |
How To Take The Binance Algo Quiz?
1. First go to the quiz page from the Binance app or from the website.
2. Login to your account via mobile number or your email id.
3. Watch the videos and read articles on Algorand blockchain network.
4. Complete the quiz on December 7 at 09:00 UTC.
5. Win assured ALGO token cash voucher within 48 hours.
Binance ALGO 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)
