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Y Nation — это криптосуперприложение, объединяющее образование, идентификацию, торговую площадку и кошелек в единую платформу, упрощающую переход мира к киберэкономике.

В приложении можно фармить поинты, которые в будущем будут конвертированы в криптовалюту. Увеличить скорость фарминга можно пройдя обучение. Мы собрали ответы на вопросы теста, чтобы вам было проще.

📌 WEEK 1 Money basics:

1. What is Money?

1. What is money?
   ✅ A medium of exchange
2. Coins were better than commodity money because:
   ✅ They were easy to carry and count
3. Why have people started exploring cryptocurrencies and new forms of money?
   ✅ Modern money isn't backed by anything

2. Backed Money vs. Fiat Money

1. Paper money before the 1900s had stable purchasing power because
   ✅ It was backed by gold
2. Modern fiat money has value because
   ✅ The law makes it a legal tender
3. What is the average lifespan of fiat currency?
   ✅ 30 years

3. Money Printing and Inflation

1. Money printing leads to:
   ✅ Money losing value
2. Savings don't work as well as you'd like to because:
   ✅ Inflation makes money lose value
3. How much value has the US dollar lost in 50 years?
   ✅ 85%

4. Electronic Money and Payment Systems

1. What percentage of the world's money exists as physical cash?
   ✅ 8%
2. Do banks hold clients money in cash?
   ✅ No. They only store a reserve - 10-20% of deposits in cash.
3. Why do banks fail?
   ✅ They don't have enough real cash
4. Money in which form can you truly own?
   ✅ Cash

5. Limitations of Traditional Banking

1. How much do banks make by charging fees?
   ✅ Over $34 billion a year.
2. What is the "bounce fee"?
   ✅ It's the fee for failed payment.
3. Why 1.4 billion people are unbanked?
   ✅ They can't afford banks' service fees.
4. Where do most unbanked people live?
   ✅ African countries

6. Trading & Why Most Traders Lose Money

1. How many traders actually make a profit each year?
   ✅ 1.6%
2. Why do most new traders fail?
   ✅ They don't have knowledge and rely on luck
3. Do most traders lose money in all markets?
   ✅ Yes. Most traders lose money no matter which market they trade.
4. What is the percentage of novices who will quit trading in the first year?
   ✅ 80%

7. Online Betting and Forex

1. What is the vig?
   ✅ The percentage fee.
2. How much do casinos earn in a year?
   ✅ Over $60 billion
3. Is it possible to make a living by betting and gambling?
   ✅ It's impossible to win consistently because of the vig.
4. What is the most unfair gambling activity?
   ✅ Binary options
5. The vig of 7% means that a player betting $100 can have a payout of
   ✅ 93

📌 WEEK 2 Crypto basics:

1. What is Decentralization?

1. What is a centralized system?
   ✅ A system where one central actor can control the whole system.
2. What is a decentralized system?
   ✅ A robust and highly reliable system without a central entity.
3. How were participants' bank accounts affected during the 2022 protests in Canada?
   ✅ Their accounts were frozen by government order.

2. How Blockchain Works

1. What is blockchain?
   ✅ A special kind of database.
2. Do Bitcoin transactions ever get deleted?
   ✅ No, Bitcoin blockchain stores all transactions and never deletes them.
3. How are blockchains protected from missing and corrupted data?
   ✅ Each node stores its own copy of the blockchain.

3. Cryptography basics

1. Why are cryptocurrencies called so?
   ✅ They use cryptography to maintain security.
2. What is used to sign a cryptocurrency transaction?
   ✅ A private key.
3. Why do blockchain networks store all old transactions?
   ✅ To verify users' balance.

4. Real-World Applications of Blockchain

1. What was Bitcoin's original purpose?
   ✅ A peer-to-peer system for transferring digital assets.
2. Blockchains are useful in every industry that needs...
   ✅ Accurate record tracking and automated value transfer.
3. What benefit blockchain networks CAN NOT bring?
   ✅ Consistent energy generation.

5. The Birth of Cryptocurrency

1. What is the common problem for all money?
   ✅ The counterfeit problem.
2. When did researchers start experimenting with the digital money concept?
   ✅ In the 1980s
3. When was Bitcoin introduced?
   ✅ 2008
4. What does Bitcoin use instead of a single centralized authority?
   ✅ Permissionless decentralized network of nodes.
5. What consensus mechanism does Bitcoin use?
   ✅ Proof of Work

6. Cryptocurrency vs traditional banking

1. How is cryptocurrencies superior to fiat money?
   ✅ It doesn't need intermediaries to work.
2. How does Bitcoin protect users' funds on addresses?
   ✅ With cryptography.
3. What do banks call cryptocurrencies?
   ✅ A threat to financial stability.

7. Comparing Bitcoin, Ethereum, and other blockchains

✅ 1. Ethereum

✅ 2. Smart contracts

✅ 3. Devs invent something better and new.

✅ 4. ⟠

✅ 5. Are driven by hype and speculation, lacking intrinsic value.

📌 WEEK 3 Safety in Crypto:

1. What are Wallets and Their Types

1. What do crypto wallets actually store?
   ✅ Private keys.
2. Where do non-custodial wallets store private keys?
   ✅ On the device where the wallet is installed.
3. What kind of wallet is Metamask?
   ✅ Non-custodial wallet.
4. How many millions of users do Ledger wallets have?
   ✅ 6

2. Setting up Your Wallet

1. How are non-custodial wallets better than custodial ones?
   ✅ Non-custodial wallets let users control their keys and funds.
2. Why is it important to install wallets from the official websites?
   ✅ To prevent installing fake apps.
3. What does the seed phrase contain?
   ✅ A private key.
4. How many millions of USD were stolen due to poor private key management in 2023?
   ✅ 560

3. Wallets and Private Keys

1. What does it mean to backup a crypto wallet recovery phrase?
   ✅ To copy it to a safe place.
2. What is the best place to store a wallet backup?
   ✅ A notepad, a USB stick, or any other offline physical storage
3. Who you can trust with your recovery phrase or private key?
   ✅ No one.
4. What does a recovery phrase look like?
   ✅ 24 words

4. Advanced Security Measures

1. What does 2FA stand for?
   ✅ Two-factor authentication
2. How are multisignature wallets different from regular ones?
   ✅ They require a transaction to be signed with multiple private keys
3. What is the safest wallet in the list?
   ✅ Hardware wallet
4. Pick the hardware wallet.
   ✅ Ledger

5. Protecting Your Digital Identity

1. Why it's important to keep crypto holdings in secret?
   ✅ There's a chance thieves will use this information to rob you
2. What does cryptos address pseudo-anonymity mean
   ✅ One can't identify the wallets owner o identity without additional hints.
3. Why it's not wise to share your phone number and other contacts online?
   ✅ You'll be targeted by scammers
4. How many millions of USD the most famous SIM swapping gang has stolen?
   ✅ 400

6. Understanding Scams in Crypto - Part 1

1. What is a Ponzi scheme?
   ✅ A scam that pays returns to older investors using the money from new investors.
2. What is a rug-pull?
   ✅ A project that ends with founders stealing all invested money, rugging investors.
3. How do scams lure crypto newcomers into investing money into them?
   ✅ They promise way higher returns than others exploiting greed.
4. How many billions were lost by the investors of OneCoin, the biggest crypto scam in history?
   ✅ 4

7. Understanding Scams in Crypto - Part 2

1. What is phishing in crypto?
   ✅ Luring people into fake apps to steal o their crypto.
2. How do romance scams trick people into sending crypto assets?
   ✅ By building fake virtual relationships and asking for funds.
3. What are crypto drainers?
   ✅ Malicious smart contracts which drain the wallet once it is connected.
4. The OpenSea phishing hack happened in ..
   ✅ 2022

📌 WEEK 4 Exchanges in Crypto:

1. Types of Exchanges in Cryptocurrency

1. What is one of centralized exchanges downsides?
   ✅ Funds security
2. What is a key feature of decentralized exchanges?
   ✅ DEX use smart contracts
3. What was the centralized exchange incident that caused $8 billion in losses?
   ✅ FTX exchange
4. How many million people use centralized exchanges?
   ✅ 500

2. Centralized Exchanges (CeFi): Operation and Basics

1. What is KYC?
   ✅ A client identification procedure
2. Where do CEXs store users' deposits?
   ✅ In cold wallets
3. How do crypto withdrawal security measures work?
   ✅ They delay withdrawal or ask for additional confirmation to proceed
4. What image is related to KYC?
   ✅ DRIVER'S LICENSE

3. Risks of Centralized Exchanges

1. What is the main risk associated with centralized crypto exchanges?
   ✅ They control users’ crypto and can mismanage it, leading to losses
2. What was the cause of QuadrigaCX losing $190 million of users’ funds?
   ✅ CEO died and took all keys and passwords with him
3. Why have FTX users lost their funds?
   ✅ FTX used their funds for risky trades and lost them
4. How much BTC was stolen from the Mt. Gox exchange in 2014?
   ✅ 850000

4. Decentralized Exchanges (DEXs)

1. How DEXs are better than CEXs?
   ✅ They don't require depositing funds and trusting them.
2. DEXs infrastructure and operations are based on...
   ✅ Liquidity pools.
3. Decentralized exchanges enable users...
   ✅ To provide liquidity and share trading fees.
4. How much billions of USD does Uniswap have in its liquidity pools?
   ✅ 4.7

5. On-Ramps and Off-Ramps

1. What is the benefit of buying crypto on CEX?
   ✅ Users can buy crypto directly to their accounts to start trading.
2. What is the benefit of using fiat on-ramp platforms?
   ✅ They are often integrated with wallets and apps.
3. How do P2P platforms work?
   ✅ They are like bulletin boards, where users publish proposals to buy or sell crypto for fiat.
4. What was the total transaction volume on the Binance P2P market in 2020, in billions of USD?
   ✅ 7

6. Stablecoins Explained

1. What are stablecoins?
   ✅ Tokens that maintain a stable price and are pegged to some real-world assets.
2. How do centralized stablecoins are backed?
   ✅ They are backed with fiat money at a one-on-one rate.
3. How do decentralized stablecoins are backed?
   ✅ They are overcollaterized with crypto
4. What coin is a stablecoin?
   ✅ Tether USDT

7. Trading on Exchanges

1. What does high volatility mean?
   ✅ Prices change very fast and are unpredictable.
2. Why is investing in new crypto projects risky?
   ✅ There are a lot of memecoins in the space that have no value and might O rug investors.
3. What are the trading hours on most crypto exchanges?
   ✅ 24/7 without anypauses
4. How many million USD was lost due to crypto rug pulls in 2023?
   ✅ 130

📌 WEEK 5 DeFi Basics:

1. What is DeFi?

1. What are smart contracts?
   ✅ Self-executing agreements on blockchain.
2. How users can earn a share of a DeFi service's fees?
   ✅ Provide liquidity to it.
3. What does "transparency" mean in DeFi?
   ✅ The code and operation history is transparent so anyone can study them.
4. When did Ethereum introduce smart contracts?
   ✅ 2015

2. DeFi Platforms

1. What kind of DeFi service helps to secure blockchain networks?
   ✅ Staking
2. Where users can lend and borrow cryptocurrencies?
   ✅ On decentralized lending markets
3. Which DeFi services let users trade tokens with each other?
   ✅ Decentralized exchanges
4. What was the cumulative trading volume in trillions of USD on Uniswap DEX till the end of 2024?
   ✅ 2

3. DeFi Passive Income

1. How to earn passive income with DeFi protocols?
   ✅ Provide liquidity and earn a share of rewards or fees.
2. Which types of DeFi protocols offering passive income have the highest liquidity?
   ✅ Liquid staking.
3. What system do most DeFi protocols use to automate liquidity allocation to counterparties?
   ✅ Pooling system.
4. Pick the transaction for staking LP tokens in a farm.
   ✅ 1 Stake LPtokens

4. DeFi Active Income: Farming and Airdrops

1. What tokens represent a share in a liquidity pool on DEX?
   ✅ Liquidity provider token or LP
2. How are lending protocols useful in yield farming?
   ✅ They enable borrowing funds to leverage positions in DeFi and earn more
3. Which airdrop was a disappointment with $3 reward on average?
   ✅ Hamster Kombat
4. How much did UNI Uniswap airdrop participants receiveeach?
   ✅ 400

5. Understanding Points Better

1. What are the points that some crypto projects give to their users?
   ✅ A part of a scoring system.
2. Points earned in crypto projects can be exchanged for
   ✅ Tokens after the project's Token Generation Event or additional benefits.
3. How much did Arbitrum and StarkNet airdrop participants earn on average?
   ✅ Over $1,000.
4. What was the minimum amount in USD earned by StarkNet point collectors?
   ✅ 1350

6. Governance and DAOs

1. What does the DAO term mean?
   ✅ Decentralized Autonomous Organization
2. DAO funds its initiatives using its …
   ✅ Treasury
3. Who can make proposals in DAO?
   ✅ Any members with tokens of that DAO
4. How much value in billions DAOs were managing in 2023?
   ✅ 25

7. NFTs

1. The term NFT means
   ✅ Non-Fungible Token
2. NFTs may have future utility in…
   ✅ Real-world asset tokenization
3. Which one is the famous NFT collection?
   ✅ CryptoPunks
4. How many millions of USD was the most expensive NFT sold for?
   ✅ 91

📌 WEEK 6 Web3 and Digital Identity:

1. Data Ownership in Web2

1. Why Google, YouTube, and other apps collect user data?
   ✅ To sell it to advertisers.
2. How collecting and reselling user data is called?
   ✅ Data brokerage.
3. What benefit regarding data is present in Web3?
   ✅ Data ownership.
4. How many ads an average person sees in a day?
   ✅ 4000

2. Privacy Concerns and Data Sharing

1. Is the Incognito mode in Google Chrome web browser reallyprivate?
   ✅ No, it still allows Google to collect browsing data.
2. How hackers can use leaked private data such as a person's name andaddress?
   ✅ They will use social engineering to steal their funds.
3. Which company has confirmed the data leak of its employees' private information?
   ✅ Amazon.
4. How many Instagram accounts are hacked monthly, according to researchers?
   ✅ 36000

3. Data Breaches and Centralized Storage Risks

1. What telecom giant was hacked, affecting 73 million customers?
   ✅ AT&T
2. Why do such data breaches affect millions of people?
   ✅ Because it is caused by centralization.
3. What is the worst outcome of data breaches?
   ✅ Users' payment data leaked.
4. How many millions of users were affected in the Ticketmaster breach, one of the biggest data breaches in history?
   ✅ 560

4. Blockchain and Decentralized Identity

1. What is the problem with centralized entities that store private data?
   ✅ Centralisation implies a single-point of failure, meaning that a data breach will affect all their users.
2. What is Self-Sovereign Identity?
   ✅ A concept of users owning their private data.
3. How can Zero-Knowledge Proofs be used with SSI?
   ✅ To prove something about the SSI user without revealing the data.
4. How much billion will the SSl industry be worth by 2031 as predicted by researchers?
   ✅ 120

5. Data Storage on Blockchain

1. What advantage does decentralization bring to blockchain networks?
   ✅ There is no central entity everything, relies on.
2. What projects have already developed blockchain storage solutions?
   ✅ Filecoin and Storj.
3. What country stores its state documents on a blockchain?
   ✅ India
4. Which data storage structure looks decentralized?
   ✅ 1

6. Monetizing Personal Data & in Web3

1. Who's profiting from collecting users' private data?
   ✅ Data collection companies.
2. How does Brave browser provide rewards for its users?
   ✅ It gives them tokens for viewing privacy-respecting ads.
3. Some blockchain-based data marketplaces enable users to sell
   ✅ Anonymized private data.
4. How much billion USD is the data industry worth?
   ✅ 300

7. Introducing "Y" Passport and its benefits

1. Why grow your Humanity Score?
   ✅ With a Humanity Score big enough you'll unlock airdrops and other benefits from Y's partners.
2. How to grow your humanity score in Y Passport?
   ✅ By verifying your social accounts, and Web3 on-chain activity.
3. Will you get Y points for the verifications?
   ✅ Yes.
4. How can you download Y passport?
   ✅ Using Y bot.