Homework on Blockchain and Mining Visually - Questions

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

Blockchain blocks are cryptographically linked together so as to provide a tamper proof blockchain e.g. if a single block is tampered, then the whole chain rejects the “bad” block.

What does the block structure look like in bitcoin?

SHA256 { [Previous block Hash] + [Current Block Transactions] + [nonce] }

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  • Why is it important that the blocks are cryptographically linked together?
    Because this is how they get on the blockchain and this is how all nodes receive the same information for their ledger to keep track of transactions. Also, it prevents someone from changing a transaction and doing something against the rules like double-spending. The network will not allow a block that does not follow the rules because they are all connected and have followed the same rules.

  • What does the block structure look like in bitcoin?
    There is one block that has a hash and has the hash of the previous block and they are linked together and this pattern continues.

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1.a) The use of cryptography to link blocks together is important because the network integrity is supported by math and physics, and the computational power to solve the crypto puzzles causes miners to risk energy (money) to solve them.
2.a) The block structure consists of, previous blocks hash, current blocks transactions, current block’s nonce, current block’s hash.

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  1. so that the info on the blocks can´t be changed , the link will change if one tx on block will be removed or changed
  2. hash block= hash of prev block + hash of tx + nonce
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  • Why is it important that the blocks are cryptographically linked together?
    To maintain network integrity. The network is a block chain with each block linked to the previous one by on a mathematical equation (hash) which is used in current blocks hash equation.
  • What does the block structure look like in bitcoin?
    Six sections consisting of:
    Version
    hashPreviousBlock
    hashMerkleTree
    Time
    Bits
    Nonce
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  • Integrity. This ensures the validity of the whole blockchain, and that everything is linked together, and new blocks are indeed based on the information of previous blocks. This also helps with improving the security of the network.
  • the hash of the previous block, the transactions picked up from the mempool by the miners and the nonce.
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The cryptographic link is important for the integrity of bitcoin. Cryptography makes it next to impossible for any miner to try to double spend because any changed block changes the resultant hash which also changes the hash of the following blocks.

The bitcoin structure is based on the previous hash, all transactions in the block, and the nonce (the random number just by the miner)

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  1. for the health and safety of the ledger, and to reduce the security riks of altering the ledger or the previous bloks
  2. hash of the previous block, nonce, the list of transactions to be attached to the blockchain that gieves the miner the most satoshis per byte, after the nounce is guessed and is lower then the target then the new block is attached to the chain.
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  1. This will ensure that all transactions are secure and not and to be changed. Immutable

  2. Input Previous block hash utxo , nonce, transaction data, difficulty target, output new hash

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It is important that blocks are cryptographically linked together so that as the block chain increases in # of blocks, it becomes more and more unlikely any potential hacker or party trying to change a prior transaction would be able to overcome an impossible recalculation task - because the party would have to rehash all subsequent blocks (since subsequent block headers would change by virtue of change in a transaction already in a confirmed block) and the party could never catch up much less surpass the length of the already expanding chain - it comes down to computing power - a hacker or “rule violator” would have to have computing power at least equal to 51% of the combined computing power of the entire decentralized network.

Blocks have the following structure, illustrated from top to bottom: Magic No, Blocksize, Blockheader, Transaction Counter and Transactions. The Header, in turn, consists of 6 items: The Block software version, the unique hash of the previous block, the hashMerkleRoot, the TIme (elapsed since 1970-01-01 UTC), Bits = current target (which adjusts up or down every 2016 blocks), and Nonce (the number increased incrementally from zero to attempt to produce a number less than the target).

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  1. they are cryptographically linked together because thats how the blockchain stays secure. so if the previous block was changed by a miner the network will not allow that block to pass because it doesnt make sense because all the rest of the transactions or data in the blockchain have to add up mathematically. and the other miners and nodes will prove that if you as a miner were trying to for example change anyone previous or going forward the link will fall apart.

  2. the block structure looks like, Block number>nonce>data>previoushash>Hash

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  1. Why is it important that the blocks are cryptographically linked together?
    For security reasons, so tha the transactions are intact. If a miner changes the data in one block then the link is disconnected between this block and all the blocks that follo that were linked together because of this block.
  2. What does the block structure look like in bitcoin?
    Each block has a list of the previous transactions/hash, the transaction of the current block, and it has a nonce (random number that performs the guessing and that has to be lower than the target).
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  • Why is it important that the blocks are cryptographically linked together?
    To protect the data and maintain the immutability of the network.

  • What does the block structure look like in bitcoin?
    The header will contain the hash of the previous block and the current target. All the transactions for the block will be listed as well as the hash for that block once it is determined through mining.

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1- OH thats easy…security. Any type of data contained on any network that has value makes it worth protecting. In this case that value comes from the fact that those who participate have all around incentives to do so especially when the users are the ones in control. A network that brings true value through fairness and proves to be immutable is PRICELESS!!

2- Its built in a sequence format. Where the sequence begins with a math problem created by the unique contents of a block which when calculated is then given a number that is either within or outside the given parameters of acceptance. Each block from there on out will have to be kept accountable for the hash of its neighbor before and after them so that no strangers can disrupt the harmony.

DUUKA DUUKA!

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  1. It makes sure no other blocks in the chain can be changed.

  2. previous hash + tx list + nonce = block

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1.cheeting shouldn’t accour.
2.hash of the previous block,hash of the current block, nonce that need to be guessed.

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it ensure network security and that you can verify that all transactions are therefore valid and cannot be altered.

  1. Block number - nonce - TX data - hash of previous block - hash of current block
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  1. Because due to this part of the nature of the network the bitcoin blockchain remains extremely safe and the immutability of it is ensured.

  2. A block in the bitcoin blockchain is composed of its hash, sha256(data), the hash of the previous block to which the block in question is linked, the list of transactions occurred on the block itself and a nonce, which is a number guessed by the block to be used in conjunction with the hash of the previous block and the transaction list of the block to find the hash number of the block itself, that must be below a target number to solve this puzzle and for the block to be accepted on the bitcoin blockchain (mining the block).

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  1. Why is it important that the blocks are cryptographically linked together?
    This ensures that the blockchain is correct and creates a bond that cannot be altered.
  2. What does the block structure look like in bitcoin?
    Transaction data, nonce, previous block hash
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  1. Why is it important that the blocks are cryptographically linked together?
  • To ensure the security of the blockchain and prove its integrity. The cryptographic links between blocks avoid eventual unnoticeable future changes in any connected blocks following a modification.
  1. What does the block structure look like in bitcoin?
  • A Bitcoin block has a hash that is based on the following: 1) the previous block hash; 2) a transactions list, 3) the nonce (a random number that had to be guessed through the mining process in order to obtain a hash with a value that is lower than the target value, for the block validation).
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