How well do you know about cryptocurrencies and blockchains?

Note: We have used commission links in this article and marked them with “*”. If an order is placed via these links, t3n.de receives a commission.

Decentralized and independent of government monetary policy: Bitcoin and other virtual currencies have established themselves as means of payment and investments. How much do you know about the emergence of well-known blockchains and current trends in the scene?

The number of different cryptocurrencies is currently estimated at over 5,000. It is not without reason that, in addition to the price of the Dax, many investors also have the Bitcoin price permanently in view. The decentralized currencies are becoming increasingly popular with investors.

As the crypto market becomes more and more important, new trends and hypes keep popping up. In addition, updates improve well-known chains such as Ethereum. Do you know about coins and tokens and do you follow the push notifications of the crypto messages? Then test your knowledge in our quiz.

Twitter founder Jack Dorsey and rap musician Jay-Z founded the Btrust Foundation together. The two directly invested a total of 500 Bitcoin in their project. The stated goal: to make Bitcoin the currency of the Internet. You can read here which concept the two billionaires are pursuing.

In the spring, the meme currency Dogecoin reached highs with a market capitalization of over 50 billion US dollars at times. The Altcoin community has set an international holiday for the fun cryptocurrency: Doge Day is celebrated on April 20th. You can read here why you should consider investing in Dogecoin despite the dachshund look at the token. The Turkish government generally sees “significant risks” in crypto currencies of all kinds. Payments with virtual currencies are therefore prohibited in the country. The holding of digital currencies should not be affected, it said in an official journal of the Turkish government in mid-April.

At the end of 2013, Vitalik Buterin wrote a position paper that formed the basis for Ethereum. More about the inventor and his blockchain can be found in the portrait. The trend in the crypto market is clear: in January 2021, all cryptocurrencies exceeded the one trillion dollar mark. Almost three months later, the value has already doubled.

Digital images, videos or virtual art: NFT make ownership rights to digital works transferable. The NFT hype has also brought Twitter founder Jack Dorsey to the scene. “Just setting up my twttr” was Dorsey’s first tweet on March 21, 2006. He put a digital copy of it for sale as an NFT. You can find out how the deal went here. In addition, there has recently been an NFT treasure trove for football fans: With Fanzone, a trading platform for digital football trading cards is launched on the blockchain.

With up to seven transactions, Bitcoin is a rather slow blockchain. But that can also be an advantage, as this analysis shows. The most well-known blockchain is also a real energy guzzler. The estimated annual volume of electricity consumption of the Bitcon network was around 71 terawatt hours at the beginning of 2020. A year later, consumption climbed to 128 terawatt hours. That’s an 80 percent increase.

Mining in a different way: With a corresponding module and some handicraft work, Youtuber Stacksmashing has managed to get his Nintendo Gameboy to mine Bitcoin. However, this is a lengthy affair. For a single Bitcoin, the Youtuber calculates, the Gameboy would need “a few quadrillion years”. You can find out more here.

Are you not only familiar with cryptocurrency? Also test your knowledge in the following categories: