Practice IBPS PO 2023 Prelims English PYQ – 30 Sep 2023 Shift 3 (30 Questions with Solutions)

Read the given passage and answer the questions based on it.

Web3 is the name some technologists have given to the idea of a new kind of internet service that is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether. The term has been around for years, but it has come into ______________ in the past year or so.

Packy McCormick, an investor who helped popularize web3, has defined it as “the internet owned by the builders and users of cryptocurrency, orchestrated with tokens.” Proponents envision web3 taking many forms, including decentralized social networks, “play-to-earn” video games that reward players with crypto tokens, and NFT platforms that allow people to buy and sell fragments of digital culture. The more idealistic ones say that web3 will transform the internet as we know it, upending traditional gatekeepers and ushering in a new digital economy.

But some critics believe that web3 is little more than a rebranding effort for crypto, with the aim of shedding some of the industry’s cultural and political baggage and convincing people that blockchains are the natural next phase of computing. Others believe it’s a dystopian vision of a pay-to-play internet, in which every activity and social interaction becomes a financial instrument to be bought and sold. The web3 boom also reflects the amount of capital, talent and energy pouring into crypto start-ups on the heels of a year long crypto bull market. Venture capital firms have put more than $27 billion into crypto-related projects in 2021 alone — more than the 10 previous years combined — and much of that capital has gone to web3 projects. Some big tech companies, such as Twitter and Reddit, have also started experimenting with their own web3 projects. And the industry has become a magnet for tech talent, with many employees of big tech firms quitting cushy, stable jobs to go seek their fortunes in web3.

What is the essence of Web3, as defined by Packy McCormick?

Read the given passage and answer the questions based on it.

Web3 is the name some technologists have given to the idea of a new kind of internet service that is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether. The term has been around for years, but it has come into ______________ in the past year or so.

Packy McCormick, an investor who helped popularize web3, has defined it as “the internet owned by the builders and users of cryptocurrency, orchestrated with tokens.” Proponents envision web3 taking many forms, including decentralized social networks, “play-to-earn” video games that reward players with crypto tokens, and NFT platforms that allow people to buy and sell fragments of digital culture. The more idealistic ones say that web3 will transform the internet as we know it, upending traditional gatekeepers and ushering in a new digital economy.

But some critics believe that web3 is little more than a rebranding effort for crypto, with the aim of shedding some of the industry’s cultural and political baggage and convincing people that blockchains are the natural next phase of computing. Others believe it’s a dystopian vision of a pay-to-play internet, in which every activity and social interaction becomes a financial instrument to be bought and sold. The web3 boom also reflects the amount of capital, talent and energy pouring into crypto start-ups on the heels of a year long crypto bull market. Venture capital firms have put more than $27 billion into crypto-related projects in 2021 alone — more than the 10 previous years combined — and much of that capital has gone to web3 projects. Some big tech companies, such as Twitter and Reddit, have also started experimenting with their own web3 projects. And the industry has become a magnet for tech talent, with many employees of big tech firms quitting cushy, stable jobs to go seek their fortunes in web3.

Which of the following is NOT mentioned as a potential application of Web3?

Read the given passage and answer the questions based on it.

Web3 is the name some technologists have given to the idea of a new kind of internet service that is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether. The term has been around for years, but it has come into ______________ in the past year or so.

Packy McCormick, an investor who helped popularize web3, has defined it as “the internet owned by the builders and users of cryptocurrency, orchestrated with tokens.” Proponents envision web3 taking many forms, including decentralized social networks, “play-to-earn” video games that reward players with crypto tokens, and NFT platforms that allow people to buy and sell fragments of digital culture. The more idealistic ones say that web3 will transform the internet as we know it, upending traditional gatekeepers and ushering in a new digital economy.

But some critics believe that web3 is little more than a rebranding effort for crypto, with the aim of shedding some of the industry’s cultural and political baggage and convincing people that blockchains are the natural next phase of computing. Others believe it’s a dystopian vision of a pay-to-play internet, in which every activity and social interaction becomes a financial instrument to be bought and sold. The web3 boom also reflects the amount of capital, talent and energy pouring into crypto start-ups on the heels of a year long crypto bull market. Venture capital firms have put more than $27 billion into crypto-related projects in 2021 alone — more than the 10 previous years combined — and much of that capital has gone to web3 projects. Some big tech companies, such as Twitter and Reddit, have also started experimenting with their own web3 projects. And the industry has become a magnet for tech talent, with many employees of big tech firms quitting cushy, stable jobs to go seek their fortunes in web3.

What do some critics believe is the primary motivation behind the term "Web3"?

Read the given passage and answer the questions based on it.

Web3 is the name some technologists have given to the idea of a new kind of internet service that is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether. The term has been around for years, but it has come into ______________ in the past year or so.

Packy McCormick, an investor who helped popularize web3, has defined it as “the internet owned by the builders and users of cryptocurrency, orchestrated with tokens.” Proponents envision web3 taking many forms, including decentralized social networks, “play-to-earn” video games that reward players with crypto tokens, and NFT platforms that allow people to buy and sell fragments of digital culture. The more idealistic ones say that web3 will transform the internet as we know it, upending traditional gatekeepers and ushering in a new digital economy.

But some critics believe that web3 is little more than a rebranding effort for crypto, with the aim of shedding some of the industry’s cultural and political baggage and convincing people that blockchains are the natural next phase of computing. Others believe it’s a dystopian vision of a pay-to-play internet, in which every activity and social interaction becomes a financial instrument to be bought and sold. The web3 boom also reflects the amount of capital, talent and energy pouring into crypto start-ups on the heels of a year long crypto bull market. Venture capital firms have put more than $27 billion into crypto-related projects in 2021 alone — more than the 10 previous years combined — and much of that capital has gone to web3 projects. Some big tech companies, such as Twitter and Reddit, have also started experimenting with their own web3 projects. And the industry has become a magnet for tech talent, with many employees of big tech firms quitting cushy, stable jobs to go seek their fortunes in web3.

What has contributed significantly to the influx of talent into crypto start-ups?

Read the given passage and answer the questions based on it.

Web3 is the name some technologists have given to the idea of a new kind of internet service that is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether. The term has been around for years, but it has come into ______________ in the past year or so.

Packy McCormick, an investor who helped popularize web3, has defined it as “the internet owned by the builders and users of cryptocurrency, orchestrated with tokens.” Proponents envision web3 taking many forms, including decentralized social networks, “play-to-earn” video games that reward players with crypto tokens, and NFT platforms that allow people to buy and sell fragments of digital culture. The more idealistic ones say that web3 will transform the internet as we know it, upending traditional gatekeepers and ushering in a new digital economy.

But some critics believe that web3 is little more than a rebranding effort for crypto, with the aim of shedding some of the industry’s cultural and political baggage and convincing people that blockchains are the natural next phase of computing. Others believe it’s a dystopian vision of a pay-to-play internet, in which every activity and social interaction becomes a financial instrument to be bought and sold. The web3 boom also reflects the amount of capital, talent and energy pouring into crypto start-ups on the heels of a year long crypto bull market. Venture capital firms have put more than $27 billion into crypto-related projects in 2021 alone — more than the 10 previous years combined — and much of that capital has gone to web3 projects. Some big tech companies, such as Twitter and Reddit, have also started experimenting with their own web3 projects. And the industry has become a magnet for tech talent, with many employees of big tech firms quitting cushy, stable jobs to go seek their fortunes in web3.

What role have big tech companies like Twitter and Reddit played in the development of Web3?

Read the given passage and answer the questions based on it.

Web3 is the name some technologists have given to the idea of a new kind of internet service that is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether. The term has been around for years, but it has come into ______________ in the past year or so.

Packy McCormick, an investor who helped popularize web3, has defined it as “the internet owned by the builders and users of cryptocurrency, orchestrated with tokens.” Proponents envision web3 taking many forms, including decentralized social networks, “play-to-earn” video games that reward players with crypto tokens, and NFT platforms that allow people to buy and sell fragments of digital culture. The more idealistic ones say that web3 will transform the internet as we know it, upending traditional gatekeepers and ushering in a new digital economy.

But some critics believe that web3 is little more than a rebranding effort for crypto, with the aim of shedding some of the industry’s cultural and political baggage and convincing people that blockchains are the natural next phase of computing. Others believe it’s a dystopian vision of a pay-to-play internet, in which every activity and social interaction becomes a financial instrument to be bought and sold. The web3 boom also reflects the amount of capital, talent and energy pouring into crypto start-ups on the heels of a year long crypto bull market. Venture capital firms have put more than $27 billion into crypto-related projects in 2021 alone — more than the 10 previous years combined — and much of that capital has gone to web3 projects. Some big tech companies, such as Twitter and Reddit, have also started experimenting with their own web3 projects. And the industry has become a magnet for tech talent, with many employees of big tech firms quitting cushy, stable jobs to go seek their fortunes in web3.

How does the passage characterize the vision of the more idealistic proponents of Web3?

Read the given passage and answer the questions based on it.

Web3 is the name some technologists have given to the idea of a new kind of internet service that is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether. The term has been around for years, but it has come into ______________ in the past year or so.

Packy McCormick, an investor who helped popularize web3, has defined it as “the internet owned by the builders and users of cryptocurrency, orchestrated with tokens.” Proponents envision web3 taking many forms, including decentralized social networks, “play-to-earn” video games that reward players with crypto tokens, and NFT platforms that allow people to buy and sell fragments of digital culture. The more idealistic ones say that web3 will transform the internet as we know it, upending traditional gatekeepers and ushering in a new digital economy.

But some critics believe that web3 is little more than a rebranding effort for crypto, with the aim of shedding some of the industry’s cultural and political baggage and convincing people that blockchains are the natural next phase of computing. Others believe it’s a dystopian vision of a pay-to-play internet, in which every activity and social interaction becomes a financial instrument to be bought and sold. The web3 boom also reflects the amount of capital, talent and energy pouring into crypto start-ups on the heels of a year long crypto bull market. Venture capital firms have put more than $27 billion into crypto-related projects in 2021 alone — more than the 10 previous years combined — and much of that capital has gone to web3 projects. Some big tech companies, such as Twitter and Reddit, have also started experimenting with their own web3 projects. And the industry has become a magnet for tech talent, with many employees of big tech firms quitting cushy, stable jobs to go seek their fortunes in web3.

Which of the following is the synonym of ‘dystopian’ as highlighted in the passage?

Read the given passage and answer the questions based on it.

Web3 is the name some technologists have given to the idea of a new kind of internet service that is built using decentralized blockchains — the shared ledger systems used by cryptocurrencies like Bitcoin and Ether. The term has been around for years, but it has come into ______________ in the past year or so.

Packy McCormick, an investor who helped popularize web3, has defined it as “the internet owned by the builders and users of cryptocurrency, orchestrated with tokens.” Proponents envision web3 taking many forms, including decentralized social networks, “play-to-earn” video games that reward players with crypto tokens, and NFT platforms that allow people to buy and sell fragments of digital culture. The more idealistic ones say that web3 will transform the internet as we know it, upending traditional gatekeepers and ushering in a new digital economy.

But some critics believe that web3 is little more than a rebranding effort for crypto, with the aim of shedding some of the industry’s cultural and political baggage and convincing people that blockchains are the natural next phase of computing. Others believe it’s a dystopian vision of a pay-to-play internet, in which every activity and social interaction becomes a financial instrument to be bought and sold. The web3 boom also reflects the amount of capital, talent and energy pouring into crypto start-ups on the heels of a year long crypto bull market. Venture capital firms have put more than $27 billion into crypto-related projects in 2021 alone — more than the 10 previous years combined — and much of that capital has gone to web3 projects. Some big tech companies, such as Twitter and Reddit, have also started experimenting with their own web3 projects. And the industry has become a magnet for tech talent, with many employees of big tech firms quitting cushy, stable jobs to go seek their fortunes in web3.

Which of the given words can fit into the given blank in the passage?

Given below are four sentences, out of which one sentence is grammatically correct. Choose the option which points out the grammatically correct sentence. If all sentences are incorrect, choose ‘All sentences are incorrect’ as your answer.

Given below are four sentences, out of which one sentence is grammatically correct. Choose the option which points out the grammatically correct sentence. If all sentences are incorrect, choose ‘All sentences are incorrect’ as your answer.