Which of the following statements regarding cryptocurrency is NOT true?

Study for the Information Technology Applications 203C (ITA203C) FE Test. Utilize flashcards and multiple-choice questions, each with hints and explanations. Prepare effectively for your exam!

The statement identifying that the cryptocurrency used in Ethereum is called Bitcoins is not true. The correct terminology here is that Ethereum has its own native cryptocurrency called Ether (ETH), not Bitcoins.

Bitcoin and Ethereum are distinct cryptocurrencies, each operating on its respective blockchain. While Bitcoin is primarily viewed as a digital currency, Ethereum functions as a decentralized platform that supports smart contracts and decentralized applications, utilizing Ether as its transactional currency. Understanding this distinction is crucial in grasping the varying functionalities and features of different cryptocurrencies within the blockchain ecosystem.

The other statements are accurate; Ethereum indeed represents a blockchain technology, and Hyperledger is recognized as an example of an open-source blockchain framework designed for enterprise-level applications, which further supports the importance of understanding these components in the context of the cryptocurrency landscape.

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