Last Updated on November 25, 2022 by cryptocreed
Binance UMA Quiz Answer from Cryptocreed
UMA is an Optimistic Oract (OO) that saves or records and solves disputed or fake information that is recorded on blockchain by humans, it is also known as “A Human Powered Truth Machine”
UMA is currently in the top 200 according to Coinmarketcap as per their metrics. The current price per UMA token is $1.69 and the market cap is $116,216,859.
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Things To Remember While Taking Binance UMA Quiz
- Learn and Earn page can be accessed here “https://academy.binance.com/en/learn-and-earn”.
- Login to check if you are eligible or not.
- Try to use a mobile device.
- Questions will be not in the same format for everyone.
- Rewards will get credited to your account within 48 hours.
Must Read: BINANCE SKALE TRUEFI ANSWERS
Binance UMA Quiz Answer
Question 1. What makes the OO optimistic?
Answer:- Proposed data will not require resolution unless it is disputed, and disputes are rare
Question 2. How many tokens did UMA transfer to its DAO in 2021?
Answer:- 35 million tokens
Question 3. Who are the three actors in the OO system?
Answer:- The contract requesting the data; the participant proposing the data; and the disputer
Question 4. Why is there a reward associated with voting correctly?
Answer:- So there is an incentive to be correct
Question 5. Why does the OO include a human component?
Answer:- Humans can provide any kind of knowable truth to a blockchain
Question 6. What are the phases in the UMA voting process?
Answer:- Voting period; voting revealing period; reward collection period
Question 7. What is the DAO tooling organization that is a sister protocol to UMA and Across and is secured by the OO?
Question 8. How long does it typically take for the OO, through its UMA token holders, to resolve a dispute?
Answer:- 48 hours
Question 9. What is UMA’s native token?
Answer:- UMA coin
Question 10. What is the cross chain bridge empowered by UMA and its OO?