Welcome to the world of Ice Network, where a new digital currency is shaking things up! Imagine earning money right from your mobile phone. Ice operates in a community where trust is key, and people are excited about digital currencies. Joining Ice is easy with an invitation, and it's all about building small, close-knit groups. By checking in daily and mining with friends, you can boost your earnings. And don't worry, anyone can join, but you'll need to verify your identity with an ID when claiming your Ice coins. In this article, we'll dive into Step #3 of the Ice Network KYC process, exploring the quiz answers to test your knowledge. Let's get started!

Ice is a new digital money that you can get by using your phone.

It works in a community where people trust each other and like using digital money.

To join Ice, someone has to invite you. Then, you can start making small groups.

When you use Ice, you need to check in every day. If you mine Ice with your friends, you can earn more.

Anyone can join Ice, but you need to prove who you are by showing an ID when you claim your Ice coins.

This article tells you the answers to the Ice Network KYC Step #3 quiz. There are 49 questions in total to check your knowledge.

Here Are Sample Question With Answer:

1.How can users earn Ice in the Ice network?

Ans.: By checking in every 24 hours.

2. What does the term "halving" refer to in the cryptocurrency industry?

Ans.: The process of reducing the issuance rate of new coins.

3. How often will the BNB Smart Chain distribution occur in the Ice network?

Ans.: Monthly

4. How does the Ice project aim to demonstrate the value and reliability of its digital coin to gain wider acceptance?

Ans.: By building trust with owners and users

5. How can a user restore lost coins due to inactivity in the Ice project?

Ans.: By initiating a new check-in session and choosing the resurrection option.

6. What type of bonus do you receive for friends referred by you (Tier 1) and those referred by your friends (Tier 2) in the Ice project?

Ans.: 25% for Tier 1 and 5% for Tier 2

7. you find on the team screen in the Ice project app?

Ans.: The current check-in activity of your referrals

8. What blockchain technology does the Ice project use for its consensus mechanism, known for its speed, security, and scalability?

Ans.: Proof-of-Stake (POS)

9. On what network will the Ice distribution take place?

Ans.: BNB Smart Chain

10. What is the primary focus of the Treasury Fund in the Ice network's financial ecosystem?

Ans.: Supporting research and development efforts.

11. What factors determine the total supply of Ice coins?

Ans.: Multiple factors, including total registered users, online miners, halving events, and bonuses

12. What does the term "halving" refer to in the cryptocurrency industry?

Ans.: The process of reducing the issuance rate of new coins

13. How are validators selected and reelected in the Ice network?

Ans.: Validators are elected by the community and must be reelected every two years

14. What sets Ice apart from other cryptocurrencies in terms of mining?

Ans.: Ice mining requires zero energy. processing power, and battery life.

15. When are users notified about the availability of extra bonuses in the Ice project?

Ans.: Between 10:00 and 20:00

16. What is the role of validators in the Ice network's governance and operation?

Ans.: Validators are tasked with maintaining the network's security and availability

17. Does mining in the Ice network require keeping the app open all the time?

Ans.: No, mining doesn't consume any phone resources

18. How many times can you benefit from the resurrection option in the Ice project?

Ans.: Once

19. What is the primary role of the Ecosystem Growth and Innovation Pool Fund in the Ice network?

Ans.: To foster innovation and expand the ecosystem.

20. In the Ice project, what is the purpose of the "resurrection" feature?

Ans.: To restore all slashed coins after a period of inactivity.

21. Why did the Ice project team feel the need to create a new cryptocurrency?

Ans.: To create a transparent, fair, and accessible cryptocurrency.

22. What is the primary role of the Ecosystem Growth and Innovation Pool Fund in the Ice network?

Ans.: To foster innovation and expand the ecosystem.

23. During Phase 1 of the Ice project, how much can users increase their mining rate through pre-staking?

Ans.: Up to 250%

24. How long does the daily extra bonus in the Ice project remain valid if a new bonus is granted and claimed before the current one expires?

Ans.: 24 hours

25. What is the main objective of the Ice network's governance model?

Ans.: To create a transparent, secure, and equitable system.

26. How does the Ice project aim to demonstrate the value and reliability of its digital coin to gain wider acceptance?

Ans.: By building trust with owners and users

27. What is the mining bonus in the Ice project when mining concurrently with 3 Tier 1 friends and 5 Tier 2 members, with a mining rate of 16 Ice/h?

Ans.: 100%

28. If a new bonus is granted and claimed before the current one expires, how long does the daily extra bonus remain valid in the Ice project?

Ans.: 24 hours

29. notifications regarding the availability of additional bonuses in the Ice project?

Ans.: Between 10:00 and 20:00

30. In the Ice project, how many consecutive days of mining are required to accumulate one day off

Ans.: 6 days

31. What is the primary focus of the Treasury Fund in the financial ecosystem of the Ice network?

Ans.: Providing liquidity to maintain robust trading.

32. What fundamental principle of the Ice project underscores the importance of collaboration and cooperation among individuals with positive intentions?

Ans.: The Power of Many

33. How much can users boost their mining rate through pre-staking during Phase 1 of the Ice project?

Ans.: Up to 250%

34. What is the fate of coins owned by users who become inactive within the Ice project?

Ans.: They are gradually lost through progressive slashing.

35. Is it necessary to keep the app open at all times for mining in the Ice network?

Ans.: No, mining doesn't consume any phone resources.

36. What does the Ice network aim to achieve primarily?

Ans.: To build a decentralized ecosystem.

37. How can users retrieve lost coins caused by inactivity within the Ice project?

Ans.: By inviting more friends to the network.

38. How does Ice benefit from being an open-source project?

Ans.: It promotes transparency and allow anyone to review the project's code

39. How does the Ice project foster trust and social bonds among its user base?

Ans.: By offering bonuses based on referrals and network activity.

40. How can users earn Ice in the Ice network?

Ans.: By checking in every 24 hours.

41. How much can users boost their mining rate through pre-staking during Phase 1 of the Ice project?

Ans.: Up to 250%

42. What role do validators play in the governance and operation of the Ice network?

Ans.: Validators are tasked with maintaining the network's security and availability.

43. How does the Ice network differ from conventional mining methods?

Ans.: It rewards those who actively build micro-communities.

44. What details are available on the team screen within the Ice project app?

Ans.: The current check-in activity of your referrals

45. What steps are involved in completing KYC Step #1 within the Ice network?

Ans.: Face recognition and liveness detection.

46. What is the purpose of the lock periods assigned to specific portions of the coin distribution in the Ice project?

Ans.: To promote long-term commitment to the project.

In conclusion, Ice Network presents a promising opportunity in the realm of digital currencies, offering a user-friendly platform accessible via mobile devices. With its emphasis on community trust and micro-community building, Ice is not just about earning money but also fostering connections. By participating in daily check-ins and collaborative mining efforts, users can maximize their earnings potential. Remember, while joining Ice is open to all, verification of identity is required to claim Ice coins, ensuring a secure environment for all participants. We hope this article has provided valuable insights into Step #3 of the KYC process, helping you navigate the world of Ice Network with confidence. Happy mining!

Written By: Muktar