In this article, you’ll learn the Ice Network KYC Step #3 quiz answers
Ques 1: What strategies does the ice project employee to showcase the value and trust were the less of its digital currency in order to Garner broader adoption?
Ques 1: How does the eyes project aim to demonstrate the value and reliability of its digital coin to gain wider acceptance?
Ans : by building trust with owners and users.
Ques 2: what is the primary role of the ecosystem growth and innovation pool fund within the ice network?
Ans : to foster Innovation and expand the ecosystem.
Ques 3: what kind of bonuses do you receive for Tier 1 friend referred by you and Tier 2 friends referred by your Tier 1 friends in the ice project?
Ans : 25% for Tier 1 and 5% for Tier 2
Ques 4: what details are available on the team screen within the ice project app??
Ans : the current check in activity of your referrals.
Ques 5: what is the fate of coins owned by users who become inactive within the ice project?
Ans : They are gradually lost through progressive slashing.
Ques 6 : how are validators chosen and re-elected within the ice network ?
Ans : Validators are elected by the community and must be reelected every 2 years.
Ques 7: in the cryptocurrency industry, what does the term “Halving” signify?
Ans : The process of reducing the issuance rate of new coins.
Ques 8: Is it necessary to keep the app open at the time for mining in the ice network?
Ans : no mining does not consume any phone resources.
Ques 9: what is the primary focus of the treasury fund in the financial ecosystem of the ice network?
Ans : Providing liquidity to maintain robust trading.
Ques 10 : After using all the accumulated days off in the ice project what follows?
Q 10 : What happens after you use all the accumulated days off in the ice project?
Ans : You automatically enter the slashing mode.
Ques 11: what is the main objective of the governance model within the ice network?
Ans : to create a transparent, secure and equitable system.
Ques 12: if a new bonus is granted and claimed before the current one expire how long does the daily extra bonus remain valid in the ice project?
Ans : 24 hours
Ques 13: at what intervals should you check into accumulate ice rewards from mining?
Ans : every 24 hour
Ques 14: fundamental principles of the ice project underscores the importance of collaboration and cooperation among individuals with positive intentions?
Ans : the power of many.
Ques 15: what sets ice apart in the realm of Crypto mining?
Ans : it allows users to mine without using their phones resources, data or battery.
Ques 16: how can you guarantee seamless my name if you are unable to type the ice logo button of the 24 hour mining cycle ?
Ans : Tap and hold the ice logo button for one second after 12 hours.
Ques 17: what does the ice network aim to achieve primarily?
Q 17: What is the primary goal of the ice network
Ans : to build a decentralized ecosystem.
Ques 18: how are users rewarded with the pre stake bonus in the ice project?
Ans : by increasing their mining rate.
Ques 19 : what is the duration of the staking period for users opting to pre stake their ice in preparation for the main net release?
Ans : up to 5 years.
Ques 20: what steps are involved in completing KYC step 1 within the ice network?
Ans : face recognition and liveness detection.
Ques 21: on what network will the ice distribution take place?
Ans : Bnb smart chain.
Ques 22: what is the method for users to invite their friends to join their team on ice ?
Ans : by sharing their referral code from the app.
Ques 23: what intervals should you check in to accumulate ice rewards from mining?
Ans : every 24 hours
Ques 24: how does ice benefit from being an open source project?
Ans : it promotes transparency and all everyone to review the projects code.
Ques 25: what blockchain Technology does the eyes project employee for its consensus mechanism renowned for its rapidity security and scale ability?
Ans : proof of stake POS
Ques 26: What is the purpose of lock periods assigned to specific portions of the coin distribution in the ice project?
Ans : to promote long term commitment to the project
Q 27: how many time the resurrection option available for use in the ice project?
A: once
Q28: How much can users boost their mining rate through pre-staking during phase 1 of the ice project?
A: up to 250%
Q 29 : what is the frequency of bnb smart change distribution in the ice network?
A: monthly
Q 30: what factors contribute to determining the total supply of ice coins?
A: multiple factors including total registered users online minors Halving events and bonuses.
Q 31: how does the ice network handle Governance? Or approach to govrernance
A: decentralized community driven governance.
Q 32: How can users earn ice in the ice network?
A: by checking in every 24 hours.
Q 33: How does the ice project Foster trust and social bonds among its user base?
A: by offering bonuses based on referrals and network activity.
Q 34: What distinguish the ice project from other Crypto initiatives in terms of user rewards?
Q 34 : What sets the ice project apart from other Crypto projects in terms of rewarding users?
A: ice rewards only active and engaged community members.
Q 35 : What distinguish the ice network from other mining methods?
A: it is based on energy intensive mining practices .
Q 36 : In the ice project what is the purpose of resurrection feature?
A: To restore all slashed coins after a period of in activity.
Q 37: When are uses notified about the availability of extra bonuses in the ice project ?
Q 37 : When do users receive notifications regarding the availability of additional bonuses in the ice project?
A: between 10:00 and 20:00
Q 38 : What is the role of validators in the ice networks governance and operation?
A: validators are task with maintaining the networks security and availability.
Q 39 : How can a user restore lost coins due to in activity in the ice project?
A: by initiating a net check in session and choosing the resurrection option.
Q 40 : Why did the ice project team feel the need to create a new cryptocurrency ?
A : to create a transparent fare and accessible cryptocurrency.
Q 41 : What distinguishes the ice network from other mining methods?
Q 41 : How does the ice network different from conventional mining methods?
A: It rewards those who actively build micro-communities.
Q 42 : How many consecutive days of mining are required to accumulate one day off in the ice project
A: 6 days
Q 43: What is the staking concept similar to?
A: depositing money in the bank
Q 44: How much is the mining bonus in the ice project for mining simultaneously with the 3 tier 1 friends and 5 tier 2 members assuming the mining rate is 16 ice per hour
A: 100%
Q 45: How does ice stand out from other cryptocurrencies when it comes to mining?
A: Ice mining requires zero energy processing power.
