Binance Learn and Earn, one of the products that the CEX is offering has been very active the past few months. There hasn't been a time when there were no new projects being introduced. Through that users can learn about crypto projects and earn free crypto by answering to simple Quizzes. The Learn & Earn campaigns are part of Binance Academy, an EduFi component of Binance aiming to educate users about the Blockchain and Cryptocurrencies.
Binance has just re-introduced the Algorand Crypto project as part of its Academy campaigns. There are already two other L&E available; True Finance where users can claim 10 free TrueFi tokens, and Polymesh where new users who have never used Binance staking before can claim 14 free POLYX tokens. Starting today and till December 20, Binance clients who answer correctly to all Quiz questions will receive 2 ALGO tokens for free while supplies last. My suggestion is to do the quiz as fast as possible.
What is Algorand
Algorand (ALGO) is a Layer 1 Pure Proof of Stake blockchain focused on scalability, decentralization, and has also smart contracts.
Since I did the Algorand quiz myself here are the correct Quiz answers so that you also get your ALGO rewards.
What is Algorand’s consensus mechanism?
-Pure Proof-of-stake (PPoS)
Silvio Micali, founder of Algorand, is famous for being the inventor of which of the following technologies?
-All are correct
What is the total supply of ALGO tokens?
-10 billion
What is the minimum that is needed to run a validator node in Algorand’s PPOS consensus mechanism?
-0.1 ALGO
How much does it cost to send a transaction in Algorand?
-0.001 ALGO
How fast is an Algorand block confirmation?
-3.7 seconds
How many transactions per second (TPS) can Algorand Blockchain process?
-6,000 tps
Algorand Governance Programme allows its community to vote on measures that impact the Blockchain's future?
-True
Which companies are building Web3 & NFT projects on Algorand?
-All are correct
In each round, which block proposal does the network select?
-The block proposal with the lowest VRF hash
Once you respond correctly to all questions you will be able to claim your prize which will be credited to your account in 48 hours. Bear in mind that to participate in the various Binance Earn products you need to be KYC-ed.
You can find the Binance Algorand Learn & Earn Quiz in this link:
https://academy.binance.me/en/learn-and-earn/course/what-is-algorand-algo-BN805062423637413889
You can learn more about the Learn & Earn feature of Binance Academy here:
https://academy.binance.me/en/learn-and-earn
You can read more about Algorand in their website:
https://www.algorand.com/
Photo from Pixabay.com under fair use
Dividers are courtesy of @brando28 designs
Thanks a lot for sharing the correct answers!
You're welcome!
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