What is NEAR Protocol? Revolut Crypto Quiz Answers

What is NEAR Protocol?

The Correct answer is A proof-of-stake, Layer 1 blockchain.

A proof-of-stake, Layer 1 blockchain refers to a blockchain protocol that uses the proof-of-stake (PoS) consensus mechanism as its method of achieving distributed consensus. In a PoS system, validators are chosen to create new blocks and secure the network based on the number of tokens they hold and are willing to "stake" as collateral. This is in contrast to proof-of-work (PoW) systems, where validators (miners) compete to solve complex cryptographic puzzles to create new blocks.

Layer 1 refers to the base layer of a blockchain protocol, where the main consensus mechanism and core features of the blockchain are implemented. Layer 1 solutions are fundamental to the blockchain ecosystem and are responsible for handling the primary functions of the network, such as transaction validation and block creation.

In summary, a proof-of-stake, Layer 1 blockchain is a blockchain protocol that uses PoS as its consensus mechanism and operates at the base layer of the blockchain network.

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What Is The Revolut Crypto Quiz?

Revolut, a financial technology firm, has launched a new educational initiative called the Revolut Crypto Quiz. This initiative aims to attract more users to its platform. Users can earn free Polkadot tokens, valued up to $15, by participating in interactive quizzes.

To participate, users need to register with Revolut and play the quiz. The quiz focuses on the Polkadot ecosystem and is divided into nine short, informative lessons.

The first set of quizzes is already available for users to play. However, Revolut has not announced when the next set of quizzes will be released.