Ethereum API Services Quiz

1. What is the primary purpose of Ethereum API services?

• It solely tracks the prices of Ethereum tokens in real-time.
• It creates and manages user accounts on the Ethereum network.
• It serves as a gateway to the Ethereum blockchain, allowing developers to interact with Ethereum nodes.
• It provides a user interface for Ethereum graphics and gaming.

2. How does Ethereum API enable interaction with Ethereum nodes?

• It provides a web interface for Ethereum apps, enabling users to create wallets and manage tokens.
• It serves as a gateway to the Ethereum blockchain, allowing developers to interact with Ethereum nodes, query blockchain data, send transactions, and execute smart contracts.
• It allows programming languages to run on Ethereum`s network without any transactions.
• It functions as a chatbot that automates Ethereum trading and market analysis.

3. What communication protocol is primarily used by Ethereum APIs?

• SMTP
• HTTP
• FTP
• JSON-RPC

4. What is a key function of the nonce in Ethereum transactions?

• It’s a numerical field to protect against replay attacks.
• It tracks the transaction fee required for processing.
• It ensures the transaction is sent to the correct address.
• It verifies the sender`s identity in transactions.

5. How does Ethereum API support executing smart contract functions?

• It functions as a secure exchange platform for various tokens.
• It enables social media integration for decentralized applications.
• It allows users to link external wallets for trading cryptocurrencies.
• Developers can send transactions to execute functions within smart contracts and read contract state.

6. What role does Web3.js play in Ethereum development?

• Web3.js is a framework for building mobile apps.
• Web3.js is a programming language for smart contracts.
• Web3.js is a JavaScript library for Ethereum development.
• Web3.js is a database management system.

7. What is the significance of managing private blockchains via Ethereum API?

• It is necessary for mining Ethereum blocks.
• It allows for the creation of public cryptocurrencies.
• It enables easier management of private blockchain networks.
• It requires advanced programming knowledge to use.

8. Which cloud service is known for providing Ethereum nodes?

• Infura
• Google Drive
• AWS
• Dropbox

9. What advantage does Ethereum API offer to decentralized application developers?

• It is primarily designed for centralized applications rather than decentralized ones.
• It only supports Ethereum-based tokens, limiting its usability.
• It simplifies the process of integrating smart contracts and provides straightforward building blocks for decentralized applications.
• It requires extensive coding knowledge and backend infrastructure for integration.

10. How does Ethereum API enhance transaction management for developers?

• It generates random tokens to enhance user engagement and retention.
• It analyzes market trends to improve investment strategies.
• It automates social media campaigns to reach a wider audience.
• It simplifies the process of integrating smart contracts and provides straightforward building blocks for decentralized applications.

11. In what way does Ethereum API contribute to DeFi applications?

• It mainly manages user accounts and balances without smart contract interaction.
• It allows only traditional banking transactions within the app ecosystem.
• It processes centralized transaction approvals and records for financial institutions.
• It enables lending, borrowing, trading, and yield farming by allowing developers to interact with DeFi smart contracts.

12. How do NFT platforms utilize Ethereum API for their operations?

• They use it to develop social media platforms for artist networking.
• They use it to manage traditional currencies for in-person transactions.
• They use it to list, sell, and purchase digital collectibles by interacting with NFT smart contracts and tracking ownership and provenance.
• They use it to create physical copies of digital art and sell them in galleries.

13. What role does Ethereum API play in ensuring supply chain transparency?

• It helps record and track product movements on the blockchain, ensuring transparency, traceability, and authenticity of goods.
• It stores user data for centralized access, increasing the risk of fraud.
• It validates credit scores for supply chain partners, ensuring financial responsibility.
• It automates marketing strategies for improving product sales.

14. Why is subscribing to smart contract events important in dApp development?

• It prevents unauthorized access to the blockchain.
• It allows dApps to react to blockchain events in real time.
• It eliminates the need for using gas in transactions.
• It generates new blocks on the Ethereum network.

15. How do HTTP requests improve the functionality of Ethereum API?

• It exclusively supports the deployment of smart contracts.
• It enables the creation of new blockchain networks.
• It provides a user interface for managing blockchain nodes.
• It streamlines the handling of data operations in the blockchain ecosystem.

16. What essential function can developers perform with `eth_getTransactionReceipt`?

• It checks the balance of an Ethereum address.
• It returns transaction information for the given hash with logs.
• It retrieves the current gas price for transactions.
• It sends a new transaction to the Ethereum network.

17. For what purpose is `eth_sendRawTransaction` used?

• It queries the status of a pending transaction.
• It broadcasts a signed raw transaction to the Ethereum network.
• It executes a function in a smart contract on the blockchain.
• It retrieves the balance of an Ethereum address.

18. How does `eth_estimateGas` benefit transaction planning?

• It estimates the gas cost for ETH transactions or contract calls before they are sent.
• It measures the total number of transactions processed in the blockchain.
• It calculates the potential profit from executing a transaction on the blockchain.
• It predicts the optimal transaction speed based on network congestion.

19. What does the `eth_call` function allow developers to do?

• It executes a contract function call in a read-only manner without creating an on-chain transaction.
• It retrieves event logs from the blockchain.
• It modifies the state of the blockchain by creating a transaction.
• It generates a new Ethereum address for a user.

20. What functionality do `eth_subscribe` and `eth_unsubscribe` provide?

• It creates new tokens on the Ethereum network.
• It executes transactions faster than normal methods.
• It allows tracking certain events on the blockchain.
• It verifies the identity of Ethereum users.

21. How does Ethereum API simplify blockchain interaction for developers?

• It offers graphic design tools for building user interfaces for decentralized applications.
• It provides a social network for developers to share their projects and ideas.
• It serves as a gateway to the Ethereum blockchain, allowing developers to interact with Ethereum nodes, query blockchain data, send transactions, and execute smart contracts.
• It acts as a cloud storage solution to save blockchain-related files and documents.

22. In what ways does Ethereum API handle gas pricing for transactions?

• It allows developers to estimate gas costs before transactions are submitted.
• It prevents any gas fees for transaction execution.
• It automatically sets gas prices without developer input.
• It calculates the total balance of Ethereum accounts.

23. What is the importance of quick data access via Ethereum API for dApps?

• It serves only as a storage solution for blockchain data.
• It increases the fees for transactions and slows down the process.
• It allows real-time access to blockchain data for improved user interactions.
• It limits developers` ability to create decentralized applications.

24. How do Ethereum APIs enhance user engagement in decentralized applications?

• It requires users to manually adjust their transaction settings for better engagement.
• It limits user access to only transaction history and balance inquiries.
• It forces users to interact only through command line interfaces.
• It allows dApps to respond to blockchain events in real time, enhancing interactivity and user engagement.

25. What types of decentralized applications benefit from Ethereum API usage?

• Centralized exchanges
• Static websites
• Personal blogs
• DeFi applications

26. How does Ethereum API facilitate the creation of NFT marketplaces?

• They use it to provide legal documentation for NFT transactions.
• They use it to create social media profiles for users to showcase their NFTs.
• They use it to list, sell, and purchase digital collectibles by interacting with NFT smart contracts and tracking ownership and provenance.
• They use it to mine new Ethereum coins for sale in the marketplace.

27. How do Ethereum API services support real-time data querying?

• It encrypts data to secure user transactions.
• It processes payments for online purchases directly.
• It allows dApps to react to specific blockchain events in real time.
• It creates digital identities for users on the blockchain.

28. Which methods can be used to retrieve specific block information on Ethereum?

• `eth_getAccountBalance`
• `eth_getBlockByNumber`
• `eth_getNetworkId`
• `eth_sendTransaction`

29. How does `eth_getBlockByNumber` assist developers?

• It sends a transaction to the Ethereum network.
• It retrieves account balance from the blockchain.
• It lists all transactions for an address.
• It returns a block by its block number.

30. What information does `eth_getBlockByHash` provide?

• It returns a block by its hash.
• It lists all transactions in a block.
• It provides the balance of an address.
• It retrieves the current gas price.