Binance Learn and Earn Quiz Answers- BAND Quiz Answers

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Binance, the popular cryptocurrency exchange, is well-known for its willingness to try new things and expand its offerings. The Binance Bitcoin Button and the Binance Wodl games are just two of the exchange’s recent cryptocurrency-earning offerings. Learn and Earn, commonly known as Binance’s quiz product and dubbed “learn,” is among the oldest and most popular, delivering a wide variety of questions to Binance users in order to earn cryptocurrency.

On August 4th, 2022, there will be three quizzes (BAND, UMA, and BTTC) in Binance learn & earn. We’ve already published the answers to the Binance Learn & Earn UMA and BTTC quizzes. All the information you need regarding Binance BAND Quiz is here, including the correct answers.

The Binance Learn and Earn Quiz Answers – Beginner’s Guide have already been published in a single post. Check this too.

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How to answer Binance Learn & Earn BAND Quiz

• To begin with, make sure you have the most recent version of the Binance app installed on your phone by going to the Playstore and updating it to the current version.
• From this page, new users of Binance can register for an account.
• Your Binance account must be logged in to.
• You’ll see this banner on the homepage if you click on the “Learn & Earn BAND” link.
• Click on that.
• From 12.30 PM IST onwards, a new chapter of the study and earn BAND quiz will be available.
• Start the quiz at the same time and use the answers to the Binance BAND Quiz below to help you.

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Binance Learn & Earn BAND Quiz Answers

Question 1: Which of these Band Token-related concepts are NOT linked to Band Token?

Cash rewards are the answer.

Question 2: Which of the following is incorrect?

Band Protocol uses on-chain centralized oracles to connect on-chain apps.

Question 3: What features set Band Protocol apart from the rest of the oracle services out there?

In short, the answer is: decentralization, maximum customisation and flexibility, scalability and cost efficiency, interoperability, and cross-chain compatibility

Question 4:Band Protocol has partnered with which ecosystem(s) so far?

All of the above choices are correct.

Question 5:In which of the following scenarios would the BAND token not be appropriate?

The short answer is: to get a deal on data requests.

Question 6:How can you know which one is correct?

Using BandChain’s Delegated Proof of Stake concept and the BAND token, a decentralized network can be created. ‘

Question 7:BandChain runs on the… network?

Cosmos is the correct answer.

Question 8:BAND Protocol does not have the following characteristic:

The DeFi protocol is the answer.

 

More Information on BAND Tokens

Blockchain-based data oracle platform Band Protocol (BAND) integrates real-world data to APIs and smart contracts. DApps may transmit data between on-chain and off-chain sources via Band Protocol, which was founded in 2017. Once created on Ethereum (ETH), the protocol is moving to Cosmos (COS) in June 2020 in an effort to cut gas fees and improve efficiency.

Band Protocol serves as an intermediary between real-world data and blockchains, as an oracle network. As a result of their service, smart contracts can be activated depending on real-world events and information. When it comes to DApps, the lack of trustworthy oracles makes it difficult to maintain decentralized, trusted operations using open data sources.