OverWallet Quiz

🌐 OverWallet Quiz 1 Jan

🧐 What do you wish for most this year?

🎯 The Happy New Year survey is being conducted today! How was 2023 with Over? I hope that another happiness awaits you in the coming new year, so please share a little bit about what you most wish for in 2024. There is no set answer. Over hopes that your wishes come true.

From tomorrow, we won't provide quiz answers and explanations.
This channel will be converted to OverWallet announcement channel 🙂
You can freely discuss about the quiz in the telegram or discord community, but you may get a timeout if you provide incorrect answers to other members.

https://twitter.com/jin_overweb3/status/1741451570292875663

🌐 OverWallet Quiz 31 Dec

🧐What do we call the chain that is finally agreed upon by the chain selection rule?

🎯[CannonicalChain] 👈 Click for the answer

is the agreed-upon main chain determined by the chain selection rule. In practice, parties decide the block threshold for canonical inclusion. More blocks on top increase the likelihood, so generally “X confirmations” is required to prioritize chain stability.

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🌐 OverWallet Quiz 30 Dec

🧐What passes data that is off-chain into the blockchain (on-chain)?

🎯[Oracle] 👈 Click for the answer

Transfers off-chain data into the blockchain (on-chain), which is tamper-resistant, but executing contracts based on off-chain data raises authenticity concerns. Various techniques are employed to verify off-chain data authenticity, ensuring reliable real-world info

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🌐 OverWallet Quiz 29 Dec

🧐What is a separate blockchain network built based on the mainnet to improve computational speed and fees?

🎯[L2] 👈 Click for the answer

is a separate blockchain network built based on the mainnet to improve computational speed and fees. Eg, it functions by processing Txs such as calculating/verifying on a separate external layer 2 and then records only the resulting data at the original layer 1 blockchain.

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🌐 OverWallet Quiz 28 Dec

🧐What is the blockchain network that verifies new functions in advance to ensure the stability of the mainnet?

🎯[Testnet] 👈 Click for the answer

a pre-release blockchain network, tests new features in advance for mainnet stability. Distinct from the live blockchain, you can participate with a few testnet tokens, with no real value. Through this period, sincere feedbacks enhance security and user experiences

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🌐 OverWallet Quiz 27 Dec

🧐What is a blockchain network that operates independently with a consensus algorithm?

🎯[Mainnet] 👈 Click for the answer

is a blockchain network that operates independently with a consensus algorithm. It can independently form the basis of the ecosystem like creating digital currency, operate Dapp, and process personal wallet transactions by having its own network, tech, and protocol.

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🌐 OverWallet Quiz 26 Dec

🧐What do we call all the rules for how a blockchain works?

🎯[Protocol] 👈 Click for the answer

Defines all the rules for how a blockchain works. It’s a general term for #ConsensusMethods, agreeing on rules to be used to accept data in this world. The term #Blockchain we refer to essentially refers to this protocol mechanism to reach consensus within a network

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🌐 OverWallet Quiz 25 Dec

🧐What do we call the process which users prove their information for lawful use of the service?

🎯[KYC] 👈 Click for the answer

is an important process to verify customers’ identity, to ensure that all info & data be authentic. Simply put, ‘identity authentication.’ KYC is a regulatory requirement in many countries and regarded important to prevent money laundering, fraud and other financial crimes.

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🌐 OverWallet Quiz 24 Dec

🧐Which is issued when a transaction is concluded, recording the gas consumed, transaction hash, input?

🎯[Receipt] 👈 Click for the answer

The information provided by a node client to signify the outcome of a specific Tx encompasses details such as the Tx hash, block number, gas usage, and the contract’s address in case a smart contract is deployed. This receipt is generated upon the completion of a Tx.

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🌐 OverWallet Quiz 23 Dec

🧐When a node first runs, what is the process for downloading and validating data up to the latest block?

🎯[Bootstrapping] 👈 Click for the answer

When a node first runs, it is has to link up with existing nodes to kickstart connections and subsequently uncover additional peers, downloading and validating data up to the latest block. Every full node can act as a bootnode as long as it is publicly available.

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🌐 OverWallet Quiz 22 Dec

🧐What is the term used to refer to nodes that help users interact with the blockchain by responding to requests?

🎯[RPCNode] 👈 Click for the answer

If we compare a node to a restaurant, validator node is the chef. When they create a dish called a block, regular RPC nodes deliver it to users, responing to requests, sending and receiving data to help users interact with the blockchain, verifying and delivering Txs.

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🌐 OverWallet Quiz 21 Dec

🧐Which indicates the amount of transactions processed per second?

🎯[TransactionsPerSecond(TPS)] 👈 Click for the answer

refers to the number of Txs that a network is capable of processing each second. A TPS of 10 means 10 Txs can be processed per sec. For example, when 10 ppl transfer asset to each other’s accounts at the same time, all Txs take place simultaneously.

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🌐 OverWallet Quiz 20 Dec

🧐Which indicates the mempool’s transaction load relative to its capacity?

🎯[TransactionTraffic] 👈 Click for the answer

Indicates how many Txs mempool contains relative to its capacity, network usage by Txs. If avgerage gas usage to gas limit from last 5 block is <66.6%, it’s #Comfy—low traffic, send fast with low gas fee. #Crowded means users are sending Txs more than usual.

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🌐 OverWallet Quiz 19 Dec

🧐What do we call the queue where transactions submitted to the network wait before entering a block?

🎯[Mempool] 👈 Click for the answer

Full nodes temporarily store pending Txs in the #Memory, a queue awaiting inclusion. Initiated Txs are broadcast, undergo signature verification, and spender’s coin ownership confirmation. Valid Txs enter the mempool, shared across the network, and chosen by proposers.

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🌐 OverWallet Quiz 18 Dec

🧐Which layer is responsible for executing contracts and transactions?

🎯[ExecutionLayer] 👈 Click for the answer

is responsible for executing contracts or Tx and managing state changes. All smart contracts and network rules reside in the execution layer software. To maintain performance of the node network, securing minimum of 3 Execution & 1 Consensus peers is essential.

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🌐 OverWallet Quiz 17 Dec

🧐At which layer is consensus among network participants reached?

🎯[ConsensusLayer] 👈 Click for the answer

is a consensus among network participants reached. Consensus peers manage the network’s consensus algorithm and block generation using PoS. You have built-in blockchain client software, ensuring all devices contribute by the rules and penalize those that do not.

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🌐 OverWallet Quiz 16 Dec

🧐What do we call the surrounding nodes that communicate with and share data each other?

🎯[PeerNode] 👈 Click for the answer

are the surrounding nodes that communicate with and share data each other. Your node continuously attempts to connect to other nodes on the network until it has enough peers. It becomes the basis of connection to the chain so when you firstly enter the network, you get introduced to a set of peers by a bootnode who connect new nodes to peers.

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🌐 OverWallet Quiz 15 Dec

🧐What is the process of downloading the entire latest version of a blockchain to a node?

🎯[Synchronization] 👈 Click for the answer
downloads the latest version of chain to a node, validates and maintains recent blocks when firstly executed or out of date. To catch up, Over employs secure sync, dividing slot sections and receiving blocks from peers and periodically updates by every 2 slots.

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🌐 OverWallet Quiz 14 Dec

🧐What is a series of words used to create and manage an account's private key called?

🎯[Mnemonic] 👈 Click for the answer
Randomly generated and ordered words for easy wallet access instead of long and complex private key. It’s risky to store in potentially exposed locations like computer notepad. It’s recommended that you print it out or write it down by hand and store it in safe place.

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🌐 OverWallet Quiz 13 Dec

🧐What is the safeguard in OverProtocol that quickly removes inactive validators from the validator pool?

🎯[Bailout] 👈 Click for the answer

is the name of @OverProtocol’s Validator Rescuing Mechanism. Based on the activity history, validators who are dormant above certain level are #BailedOut as a relief measure, which is to evacuate them before the balance is largely affected from the accumulated penalty.

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