Binance UMA Quiz Answers
Binance UMA quiz answers: Those who complete the quiz can get one UMA crypto token cash voucher. I have already received my reward for giving answers correctly.
It is an optimistic oracle designed to record any knowable truth onto a blockchain. Founded in 2017 by hart lambur. Universal market access is the full form of UMA.
Three actors in UMA’s oo system; request, propose, and dispute. This token is basically an ERC-20 token. The initial supply of the token was 100 million.
Binance Learn & Earn UMA Quiz Answers
Q1) What makes the OO optimistic?
Answer: Proposed data will not require resolution unless it is disputed, and disputes are rare
Q2) How many tokens did UMA transfer to its DAO in 2021?
Answer: 35 million tokens
Q3) Who are the three actors in the OO system?
Answer: The contract requesting the data; the participant proposing the data; and the disputer
Q4) Why is there a reward associated with voting correctly?
Answer: So there is an incentive to be correct
Q5) Why does the OO include a human component?
Answer: Humans can provide any kind of knowable truth to a blockchain
Q6) What are the phases in the UMA voting process?
Answer: Voting period; voting revealing period; reward collection period
Q7) What is the DAO tooling organization that is a sister protocol to UMA and Across and is secured by the OO?
Q8) How long does it typically take for the OO, through its UMA token holders, to resolve a dispute?
Answer: 48 hours
Q9) What is UMA’s native token?
Answer: UMA coin
Q10) What is the cross chain bridge empowered by UMA and its OO?