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Melon.web3 🟥🎩🦊
@melonweb3
🟥MELONGAME🟥 🟪Q&A, learning with MELON 🟩Answer questions in the same comment plis 🎩 🟧Lets play, hit PLAY on the Frame 🎩🎩🎩 Each correct answer gets DEGEN I OVERTURN IN 4 HOURS, WITH ME RIFLE🟥 https://melon-games.vercel.app/qa?img=9
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Mary 🎩
@thegoldenbright
1. ERC-20 tokens are built on the Ethereum network and they are used for a variety of purposes like as a medium of exchange, a unit of account, or a store of value. 2. CryptoKitties, Uniswap, and MakerDAO 3. A smart contract is a self-executing contract with the terms of the agreement directly written into code. 4. The main function of gas fees in Ethereum is to compensate for the computational energy required to process and validate transactions on the Ethereum network. 5. True A node in the Ethereum network is a program that participates in the verification and transmission of transactions.
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Abubakar🎩
@bigbenz
3.) A smart contract is a computer program or transaction protocol designed to automatically execute, manage, or record events and actions based on the terms of a contract or agreement. I definitely learnt something here
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samvox
@samvox
fantastic🥰
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Cryptocraft 🎩🍖
@fmlala
5. true
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Chaufi
@jauhsey
5.True. A node in the Ethereum network is a program that runs the Ethereum client, participating in the verification, propagation, and transmission of transactions and blocks across the network.
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Chaufi
@jauhsey
1.ERC-20 tokens are a standard for fungible tokens on the Ethereum blockchain. They enable developers to create tokens that can be exchanged, transferred, and interacted with using smart contracts. The purpose of ERC-20 tokens is to provide a common set of rules for Ethereum-based tokens, ensuring compatibility and interoperability within the Ethereum ecosystem.
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ANDERSON🟣🎩Ⓜ️
@bahdbaby
5. true
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Godwin
@fatherwin
2. Mention 3 examples of decentralised applications (dApps) that can be developed on the Eth network Examples of dapps are: 1. DeFi applications 2. NFT marketplaces 3. DAO (Decentralized Autonomous Organizations)
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ryu 👽👼🪽
@ryushi
1) erc-20 tokens are the standard way of making tokens on ethereum. they keep everything organized so you can trade and use them without a hitch 2) uniswap, cryptokitties, makerdao 3) a smart contract is code that runs itself when conditions are met. no need for a middleman, it just does its things 4) gas fees are what you pay to get stuff done on Ethereum. they keep the network running by covering the cost of processing transactions 5) true. nodes are the homies that verify and spread transactions, keeping the network legit
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cariymah🍖🎩🌭🎭
@realmart
Question 2 1. Decentralized Finance (DeFi) Applications 2. Non-Fungible Token (NFT) Marketplaces 3. Decentralized Autonomous Organizations (DAOs)
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Abunana 🎭⚡🙈
@abunana
True
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MATT
@matthew01
5. True. A node in the Ethereum network is a program that participates in the verification and transmission of transactions.
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SDR Girl 🎩
@sardar1
3. Smart contracts are digital contracts stored on a blockchain that are automatically executed when predetermined terms and conditions are met.
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🇬🇧SARDAR🇵🇰⚡️✪
@karachi
1. An ERC20 token is a standard for creating and issuing smart contracts on the Ethereum blockchain. ERC stands for "Ethereum Request for Comment.
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Bishop Ola
@bishopola
Three examples of decentralized applications that can be developed on Eth are Decentralized Finance (DeFi) Platforms, Non-Fungible Token (NFT) projects, and Decentralized Autonomous Organizations (DAOs). These applications leverage the Ethereum blockchain to create innovative and decentralized solutions across various industries.
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Peter freedom 🎭🎭
@petertolu
4.The gas fee in Ethereum: - Pays transaction processors (stakers) for their work - Covers computational resources used - Prevents spam and infinite loops - Prioritizes transactions - Maintains network security @melonweb3
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The Chosen 🎭🎩
@chosen-one
3. A smart contract is a self-executing contract with the terms of the agreement directly written into code. It automatically enforces and executes the terms and conditions agreed upon by the parties involved, eliminating the need for intermediaries.
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AVA
@puruu
Number 4 The main function of gas fees in Ethereum is to pay for the computational power and network resources required to execute transactions and smart contracts. @melonweb3
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Gbade🎩 🍖💸
@gbade009
4. Gas fees in Ethereum serve as a way to compensate the network participants for the computational power required to process and validate transactions. It's like a transaction fee that users pay to miners to prioritize their transactions on the blockchain.
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