Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#2412
  • Why is it important that the blocks are cryptographically linked together?
    In terms of mining, the cryptographical puzzle is tied to each previous block. The network will always choose the longest chain. The longer the chain, the more secure.
  • What does the block structure look like in bitcoin?
    Block: previous hash, transaction list, and nonce. All used to calculate the hash of the block which has to be less than the target.
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#2413

  1. so that no one can alter any previous blocks and get away with it. Creates security and integrity

  2. TX’s in current block + Hash of previous block + Nonce must create a hash that is lower than target provided by network

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#2414
  1. It is important so that all blocks remain immutable and no transaction can be changed in the previous blocks.
  2. nonse, data, previous block hash
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#2415

  1. Why is it important that the blocks are cryptographically linked together?
    To ensure that current blocks are based on previous block’s hash, transaction, and nonce which makes the blockchain impossible to alter.

  2. What does the block structure look like in bitcoin?
    It has (a) previous hash (b) transactions © nonce

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#2416

Homework on Blockchain and Mining Visually - Questions

  1. Why is it important that the blocks are cryptographically linked together?
    To maintain the security and validity of all the blocks

  2. What does the block structure look like in bitcoin?
    The transactions + previous hash + the nonce

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#2417

  • Why is it important that the blocks are cryptographically linked together?
    This prevents changes to previous blocks and ensure the integrity of the block chain

  • What does the block structure look like in bitcoin?
    the block holds the previous block’s hash, all the transactions and the nonce, these are used to generate the blocks hash.

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#2418
  • Why is it important that the blocks are cryptographically linked together?
    it ensures the protection and integrity of the whole chain. A change in any block affect all other blocks.
  • What does the block structure look like in bitcoin?
    Previous has + transactions/ data + nonce
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#2419

1 so all transactions are recorded and link to completed blocks
2 all completed blocks are linked together keeps the integrity of the network

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#2420
  1. It is important that the blocks are cryptographicallyl inked together because each blocks transaction is based on it’s own hash plus the hash of the previous block, if the transaction of a block is changed the cryptographic link will be broken.
  2. The block structure in bitcoin appears as group of numbers and letters .
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#2421

1.- It is important because this ensures that the blockchain is secure and immutable. once transactions are put into a block it can’t be removed or changed without breaking the links which doesn’t make sense financially at all.

2.- a block consists out of a hash which is the block’s unique fingerprint. The hash on the other hand consists out of the previous hash from the block before, out of transactions and a nonce.

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#2422

Homework on Blockchain and Mining Visually

  • Why is it important that the blocks are cryptographically linked together?
    • To ensure that all previous information and new information are linked together, to ensure security and that double spending cannot occur.
  • What does the block structure look like in Bitcoin?
    • The block contains the following:
      Transactions

A block header

Nonce

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#2423
  1. For the security of the blockchain, Any change in transactions will occur to break the links
  2. A hash number (under the target) created based on previous hash, transactions list & nonce
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#2424

Do you know what is in the block header? :slight_smile:

#2425
  1. Why is it important that the blocks are cryptographically linked together?
  • It make the network more secure. Because the block are linked together, changing anything in any block would mean you have to redo every block that came after it. And that is a losing battle for the miners.
  1. What does the block structure look like in bitcoin?
  • The new added block consist of the block number, data from the previous block, data from the current block and the number that is being use in the hashing process.
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#2426

  • Why is it important that the blocks are cryptographically linked together?
    To ensure the integrity of the block chain to prevent fraudulent activity.

  • What does the block structure look like in bitcoin?
    block number, previous hash, new TX’s, nonce and new hash

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#2427
  1. Why is it important that the blocks are cryptographically linked together?
  • By cryptographically linking blocks right from the genesis block will keep track of transaction, it will give immutability to the Tx and secure the network by not allowing double spending.
  1. What does the block structure look like in bitcoin?
    Block Number: Next number in the blockchain. Genesis block+1
    Nounce: A random number (used in the POW to find the hash lower than the target)
    Data: List of Tx
    Previous Hash: Name of the previous block
    Hash: Name of the block
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#2428

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

so that a block and all the other blocks - before and after it remain unchanged without breaking the chain of blocks and entitlement equity is effectively tracked and maintained.

What does the block structure look like in bitcoin?

Block’s number
the previous hash, nonce which is based on all previous hash
hash that is based on the block -
a digital signature of all the inputs and outputs UTXO resulting from each transactions of the block, including previous hash and the nonce of that block

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#2429
  1. Why is it important that the blocks are cryptographically linked together?

So that no one can practically go back and make changes to the block chain, double spend, or any other change. Keeping the integrity of the network. Immutable.

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

List of transactions. Previous Hash. Nonce. Current Target.

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#2430

  1. To ensure security, if they are cryptographically linked together no one can change anything from previous blocks, if they do they would be breaking all the links of the blocks after the one they altered and have to remine them, which takes a very large sum of cash on electricity to do.

  2. a block in a blockchain consists of the transactions, the previous hash, the nonce, the current block’s hash and the block number on top.

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#2431

  1. It is important that the blocks are cryptographically linked together because it helps show proof of work for a miner and also secures the blocks from being changed.

  2. The block structure in bitcoin is a series of data blocks that are encoded with hash numbers that are required to be linked to the previous hash number of the preceding block attached to it in the chain. The nonce must be guessed by the miner to complete the hash number and certify their proof of work for each block.

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