📝 Binance Academy: What Is Espresso (ESP)? Quiz Answers 🚀
Hey Crypto Community! 👋 Here are the complete and verified answers for the latest Binance Academy Quiz: What Is Espresso (ESP)? Check them out to complete your course perfectly! 🧠👇
Q1: Which of the following does Espresso NOT provide?
Ans: Smart contract execution
Q2: What does Espresso provide to chains that integrate with it?
Ans: Fast finality and compatibility regardless of how the chain is built
Q3: What does it mean that Espresso is designed to be compatible across different systems?
Ans: Espresso can work across different rollup frameworks, virtual machines, proof systems, and settlement layers
Q4: What are the two primary uses of the ESP token?
Ans: Staking to secure Proof of Stake consensus and paying protocol fees
Q5: Which academic institutions are represented by Espresso's founding team?
Ans: Yale, NYU, Harvard, and Stanford
Q6: What is the core problem Espresso Network was built to solve?
Ans: Slow finality, which causes fragmentation across crypto and may hinder institutional adoption
Q7: What does it mean that Espresso is built for chains that demand customization and sovereignty?
Ans: Chains can maintain control over their own rules and operations while still inheriting decentralized security
Q8: How fast does Espresso's HotShot consensus protocol finalize blocks today?
Ans: Roughly 3 seconds
Q9: Which institution's CTO called cross-chain collateral management "the killer app for institutional blockchain"?
Ans: The DTCC
Q10: How long does Ethereum finality currently take?
Ans: 15 minutes or more
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