Understanding the Celo Ecosystem
Quiz by HaloFi
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- Q1
What does EVM compatibility mean for Celo?
Celo requires Ethereum validators
Celo uses Ethereum’s gas fees
Celo can run Ethereum smart contracts ✅
Celo and Ethereum share the same mining process
30s - Q2
What happens if you hold CELO tokens?
You can vote on network governance
You automatically become a validator
CELO tokens generate gas fees
You must mine to earn rewards
30s - Q3
What is MiniPay on Celo designed for?
High-frequency DeFi farming
NFT gaming
AI-based trading
Easy mobile payments
30s - Q4
Who participates in Celo’s governance?
Central banks
Only Celo Foundation members
Ethereum miners
CELO token holders
30s - Q5
Which platform is Celo transitioning to as part of its upgrade?
Polkadot parachains
Solana blockchain
Cardano Layer 1
Ethereum Layer 2
30s - Q6
What makes Celo unique compared to other blockchains?
Unlimited supply of tokens
Centralized governance
Phone number-based transactions
Requires expensive mining hardware
30s - Q7
What is the purpose of Celo stablecoins like cUSD?
To provide loans to traditional banks
To enable cheap and stable transactions
To reward validators
To mine new CELO tokens
30s - Q8
Which Celo-based DeFi project allows users to borrow and lend crypto?
OpenSea
Moola Market
Uniswap
MetaMask
30s - Q9
What Ethereum Layer 2 technology is Celo adopting?
Bitcoin Lightning Network
Solana Hybrid Model
OP Stack with zkEVM
Binance Smart Chain
30s - Q10
How will Celo's Layer 2 transition impact developers?
They can deploy Ethereum-based dApps with fewer modifications
Gas fees will increase
They must rewrite all smart contracts
Celo dApps will stop functioning
30s