Cryptocurrency calculations now taught to Dutch high school students

For Dutch high school students, calculating Satoshis and bitcents will soon become the norm.

Cryptocurrencies have found lots of admirers recently, but that may change for Dutch high school students.

This year’s VWO examination– an admission test that high school students are required to take to be qualified to pursue a university education in the Netherlands– features an unorthodox addition: Bitcoin.

The pupils were supplied with the following description for Bitcoin and how the cryptocurrency is mined:

Bitcoin is a digital currency that only exists online. It exists since January 1, 2009, and can be used to pay at online stores or for other online services.

Bitcoin is not issued by a central bank, unlike normal money. Instead, Bitcoin is created by letting computers work on solutions for selected mathematical problems.

It works like this: anyone can run special software on his or her computer to contribute to solving such a mathematical problem.

The owner of the computer that finds the solution to a problem receives 25 BTC (newly mined) as a reward.

Because in 2014, such a problem was solved every 10 minutes, 25 BTC were put into circulation every 10 minutes.

Based on the provided text, the trainees were asked to answer five questions.

They were asked everything about mathematical issues related to the offered description of Bitcoin.

The questions asked were relevant to the genuine world Bitcoin, consisting of computing the year by which the reward for miners will be lower than one Bitcoin and determining the optimum quantity of Bitcoins that will ever be in circulation.

Rising interest in Bitcoin

Cryptocurrencies are progressively striking interest in the mainstream.

Some of the world’s biggest business including Facebook, Nasdaq, NYSE, JP Morgan, and Goldman Sachs are now leaping on the cryptocurrency bandwagon.

With the rising number of companies taking interest in cryptocurrencies, there is a comparable rise in the opportunity to work and innovate in the sector.

While the initiative might not be the best segway into blockchain innovation, it is an interesting way to expose younger audiences to cryptocurrencies– and a lot more appealing attempt at making examinations “fun.”

You can see the exam paper here.

If you do not speak Dutch, you can read this Redditor’s English translation here.