Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#222

Not bad and for sure very fancy. But i don’t know how acourate it can be because most nodes is said to be runned in China. Exept if nodes can be run through tor so you can’t see were they really come from. But also i don’t know if this is possible. :face_with_monocle: :nerd_face: :+1:

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#223

  1. it makes sure that if someone tries to change something in an older block, every hash of the blocks after them get changed. wich makes them invalid and have to be all mined all over again.

  2. the new block has a hash made of the hash of the previous block hash, the transactions in the current block added from the mempool and a random chosen nonce. when the new hash is lower than the target, the new block gets added and the miner that found the hash that was low enough first gets rewarded with the blockreward (currently 12.5 bitcoin) + the fees of the transactions in the current block.

#224

Homework on Blockchain and Mining Visually - Questions

  1. Why is it important that the blocks are cryptographically linked together?
  • to ensure the immutable security of the network
  1. What does the block structure look like in bitcoin?
    Blocks are appended together by a nonce. The hash of each block and transactions within are connected cryptographically to each block. Changing the slightest piece of data in any block throws the whole chain out of sync and consensus for the change is rejected
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#225

  1. In that way changing a block becoming much much more difficult

  2. Previous hash + transaction list + nonce

#226

Homework on Blockchain and Mining Visually - Questions

  1. Why is it important that the blocks are cryptographically linked together?

To insure immutability and to create a chain that cannot be altered without having to recreate all previous blocks of the chain ensuring high security of the network.

  1. What does the block structure look like in bitcoin?
  • Index – This term symbolizes the location of the block inside the blockchain. The first block is indexed ‘0’, the next ‘1’, and so on.
    *Hash – Hash is the function which facilitates the rapid classification of data in the dataset
    *Previous hash – Each and every block in blockchain data structure, is associated with its ancestors. This characteristic adds to its immutability as a variety in the order of blocks.
  • numTx – This wares a tally of the number of transaction enumerated in the block.
    *Timestamp – It saves the time aspects of when the block was built.
    *Nonce – It saves the integer (32 or 64bits) that are utilized in the mining method.
    *Transaction – This is a different track saved as arrays in the frame of the block. They save the specific version of a transaction executed so far in the block.
    *Merkel Tree– A Merkle tree, also perceived as a binary hash tree, is a data structure utilized for efficiently compiling and validating the uprightness of large sets of data.
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#227
  1. Why is it important that the blocks are cryptographically linked together?

In order to make sure that past data cannot be modify, a single bit changed will modify all futures hashes. It gives extra security and easy verification if something changes.

  1. What does the block structure look like in bitcoin?

The block structure is: list of transactions, nonce, previous hash

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#228
  1. Why is it important that the blocks are cryptographically linked together?

Blocks are cryptographically linked together to ensure the integrity of the network.

  1. What does the block structure look like in bitcoin?

Hash, previous hash, data, nonce, timestamp

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#229

  1. Why is it important that the blocks are cryptographically linked together?
    Because its important that all the later blocks becomes invalid when changing the data in an earlier block.

  2. What does the block structure look like in bitcoin?
    Transactions, a nonce and the hash of the previous block. These three data points together determines the hash of the block. The previous hash in each block is what links the blocks together i a chain.

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#230

  1. It is important that the blocks are cryptographically linked together because if a block is altered then all subsequent blocks have to be remined. The existence of this mechanism keeps the integrity of the blockchain.

  2. The block structure in bitcoin:
    . block number
    . nonce
    . data
    . hash of previous block
    . hash of the current block.

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#231

  1. It’s important because then if you try to amend any previous blocks, your entire blockchain will instantly become invalid.

  2. The block structure is previous hash, transactions of the current block and the nonce.

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#232

  1. Why is it important that the blocks are cryptographically linked together?
    This is important as a means to secure the network/

  2. What does the block structure look like in bitcoin?
    The block structure consist of the Hash, Previous transaction and the Nonce. The Nonce is used by the miners to solve for the next block.

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#233
  • Why is it important that the blocks are cryptographically linked together?
    The previous block contains a hash that links to the next block which prevents transactions from being removed or changed.
  • What does the block structure look like in bitcoin?
    The blocks are connected by links which contain valuable information from previous blocks. The Image from the demo has the previous hash, a nonce, and current hash and the data
#234
  1. The way blocks are ctryptographically linked together is crucial to provide immutable on the blockchain. Once the link is broken the nodes propagate to the network and then drop that block and the miner receive no incentives.
  2. It includes a block number, hash of the previous transaction, current transactions and nonce that performs the guessing part.
#235

:face_with_monocle: :+1: nice graphics :sweat_smile:

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#236

  1. Why is it important that the blocks are cryptographically linked together?
    Because the blocks are linked together which means if anything changes in one block it will affect another so it maintains immutability.

  2. What does the block structure look like in bitcoin?
    It contains the hash of the previous block, transactions, nuance and target

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#237
  1. Why is it important that the blocks are cryptographically linked together?
  • That no manupilation of blocks can occur
  1. What does the block structure look like in bitcoin?
  • Hash
  • Confirmations
  • Height
  • Miner
  • Number of transactions
  • Difficulty
  • Merkle root
  • Version
  • Bits
  • Weight
  • Size
  • Nounce
  • Transaction Volym
  • Block reward
  • Fee Reward
#238

1- That way you can’t change one block without affecting the rest of the blocks

2- Previous Hash,Tx’s, Nonce, New Hash

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#239
  1. It makes altering the data in an already mined block practically impossible since by doing so it will break the chain.
  2. Each block contains a block number, a nonce, transactions, a previous block’s hash, and the current block’s hash.
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#240
  1. It is important to have the blocks cryptographically linked because it prevents tampering of data and maintains the integrity of the blockchain. As each block is linked the previous block leaves its digital signature along with the hash of the new block. These hashes work in conjunction, if the previous blocks data is tampered with it, changes will occur to the hash of all block that come after.
  2. In block structure we have the previous blocks hash, then we have the data of all the transactions the miner has compiled from the mempool, then a nonce is found. So the hash of the new block forged by a miner is created based on previous hash, TX data, and nonce.
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#241
  1. Blocks are not added to the blockchain unless there is consensus across the network. This then naturally means that the data is secure and immutable - else the link will be broken.
  2. A block comprises the hash of the previous block + data + the nonce