Daily UPSC Prelims Current Affairs – July 27, 2022 [Mock Test]
July 27, 2022 July 27, 2022
1. Terms ‘Luna’, ‘Solana’, ‘Cardano’ which were in news recently, pertain to which of the following?
[A] Supercomputer
[B] Cryptocurrency
[C] Artificial Lakes
[D] Vaccines
Show Answer
Correct Answer: B [Cryptocurrency]
Notes:- Some of the big crypto assets traded in the Indian market include Ethereum (ETH), Binance (BNB), XRP, Solana (SOL), Cardano (ADA), Terra (Luna) and Bitcoin (BTC).
- Terra is a public blockchain platform which help companies build infra for apps on which people trade that has two stablecoins, UST and Luna. This Terra manages by buying and selling of these two coins in the different markets to ensure that if UST falls than Luna can back it.
- Stablecoins helps to avoid the volatility risk, as these have an underlying value and are usually pegged against currencies. The value of ‘stablecoins’ like Tether does not fluctuate as much as the other cryptos, such as Bitcoin or Ether. The value of these coins is usually pegged at the collateral that backs them, like the US dollar. These coins can also be backed by other crypto assets, like how UST is backed by Luna.
2. Before the latest discovery (2022), the earliest evidence of iron use for Tamil Nadu was from which of the following archaeological sites?
[A] Mayiladumparai
[B] Ahar
[C] Bukkasagara
[D] Thelunganur
Show Answer
Correct Answer: D [Thelunganur]
Notes:- The latest excavations are from Mayiladumparai near Krishnagiri in Tamil Nadu, about 100 km south of Bengaluru. Mayiladumparai is an important site with cultural material dating back between the Microlithic (30,000 BCE) and Early Historic (600 BCE) ages.
- In 1979, use of iron was traced to 1300 BCE at Ahar in Rajasthan. Later, samples at Bukkasagara in Karnataka, indicating iron production, were dated back to 1530 BCE. The date was subsequently pushed back to 1700-1800 BCE with excavations finding evidence of iron smelting at Raipura in the Mid-Ganga valley, and then to 1900-2000 BCE based on investigations in sites at Malhar near Varanasi and Brahmagiri in North Karnataka.
- Before the latest discovery, the earliest evidence of iron use for Tamil Nadu was from Thelunganur and Mangadu near Mettur, dating back to 1500 BCE.
3. With respect to the CERT-In cybersecurity norms, consider the following statements:
- VPN service providers to store information of their clients.
- To report cybersecurity incidents to CERT-In within 24-hours of becoming or being made aware of them.
- Virtual asset service providers shall maintain records of financial transactions for a period of five years.
Which of the statements given above are correct?
[A] Only 1 & 2
[B] Only 2 & 3
[C] Only 1 & 3
[D] 1, 2 & 3
Show Answer
Correct Answer: C [Only 1 & 3]
Notes:- VPN service providers along with the data centres and cloud service providers, to store information such as names, email IDs, contact numbers, and IP addresses (among other things) of their customers for a period of five years.
- Entities are also required to report cybersecurity incidents to CERT-In within six hours of becoming or being made aware of them.
- Virtual asset service providers, virtual asset exchange providers and custodian wallet service providers shall maintain all the information they have gathered as a part of the know your customer (KYC) process and records of financial transactions for a period of five years.
- With respect to transaction records, accurate information shall be maintained in such a way that individual transactions can be reconstructed.
