Binance Reef Quiz Answers
Binance Reef quiz answers: A new quiz course is added in the Binance learn and earn section, Reef quiz and it will go live on 19th May from which you can earn REEF.
Eligible users can receive a predetermined amount of REEF, T, XTZ, IMT, MULTI, etc. Start to read the articles, watch videos, and get ready for the quiz.
The reef is a layer 1 blockchain built using Parity’s substrate technology. The blockchain’s native cryptocurrency is REEF, which can be used to pay transaction fees.
The token is originally minted as an ERC-20 token on Ethereum and BEP-20 on BNB smart chain.
Learn And Earn REEF
Question 1: What consensus mechanism does the Reef ecosystem use?
Answer: Nominated Proof of Stake
Question 2: What does Reef stand for?
Answer: Reliable, Extensible, Efficient, Fast
Question 3: How much does the average transaction cost on Reef?
Answer: $0.17
Question 4:What does REEF-20 mean?
Answer: The native utility token that powers the Reef blockchain
Question 5: How many types of REEF tokens exist on the market?
Answer: 3
Question 6: What is Reef Finance?
Answer: A layer 1 blockchain for DeFi, NFTs, and gaming
Question 7: What is Reef’s current max token supply?
Answer: There is no max supply
Question 8: What are the types of REEF tokens?
Answer: All of the options
Question 9: How many transactions per second (TPS) is Reef able to process?
Answer: Over 460 TPS
