Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#283
  1. All information stays safe, and can not be altered or removed. New blocks contains information of the previous blocks.
  2. Structure includes: hash of a previous block, nonce and current transitions.
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#284

  1. Every block contains the previous block’s information and this link ensures the the security and immutability of the blockchain.

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

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#285

Homework on Blockchain and Mining Visually - Questions

  1. Why is it important that the blocks are cryptographically linked together?
    Because the hashes verify that the chain is not corrupted. trying to change a trx within a block will change the hash and everything going forward. It increases the security.
  2. What does the block structure look like in bitcoin?
    A new block is based on transactions, the hash of the previous block, a nonce and the . The nonce needs to be guessed (through calculations -> pow) and has to be below a random number.
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#286

  1. To make sure all blocks are valid.

  2. It’s the linked lists of hashes on the chain where the nonce has to be figured out

#287
  1. Why is it important that the blocks are cryptographically linked together?

That is the smart way to insure validity of the system and that it can be trusted for it makes it very unprofitable to manipulate and older block to one’s advantage.

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

1.list of the bids mempool. 2.previous block hash. 3.a certain number called nonce<target

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#288

  1. To prevent historical data altering in mined blocks.

  2. Block contains:
    a) transaction data
    b) previous block hash
    c) nonce
    d) generated hash

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#289
  1. This means that we can verify the chain by mathematical operations. This means that anyone with blockchain data can verify the validity of a transaction. It does not require us to put our faith in a 3rd party to ensure that our transactions are valid and that our wallet balances are secure.
  2. Each block is made up the transactions that are stored/processed in the current block, a hash of the previous block, a nonce, and a hash of all the contents of the block (nonce, previous hash and contents)
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#290

  1. To prevent tampering with the data in the blocks. Any change would break the links.

  2. version
    prev block hash
    merkle root hash
    timestamp
    bits
    nonce
    transaction

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#291

  1. Why is it important that the blocks are cryptographically linked together?
    To ensure the integrity of the entire network, making it difficult to change any transaction.

  2. What does the block structure look like in bitcoin?
    Its based on the transactions in the block and the hash of the previous block, creating a chain.

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#292

  1. It is important that blocks are cryptographically linked together because in this way it is easy to tell if changes were made to previous blocks because if affects every subsequent block.

  2. A block in bitcoin consists of a list of the that includes the previous hash, transactions, and a random number called nounce then there is a current hash which is based on the all of the above.

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#293

Here we mean that every block is linked to the previous block. So that if you change information in some block, all next blocks aren’t valid anymore.

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#294

  1. Why is it important that the blocks are cryptographically linked together?
    So that transactions and/or blocks cannot be changed.

  2. What does the block structure look like in bitcoin?
    The previous hash
    The transaction list
    Nonce

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#295

Homework on Blockchain and Mining Visually - Questions

  1. Why is it important that the blocks are cryptographically linked together?
    This is the central meaning of Block-Chain. It is a chain consisting of blocks, that are cryptographically linked together. This makes it difficult to change a previous block for a malicious actor, because this actor has to recalculate all the following blocks. This linking together secures the blockchain and maintains a consensus among the nodes of the network. In case of a fork (two versions of the blockchain) the longer blockchain will win. This makes sense, because the longer blockchain took much more effort to be calculated.

  2. What does the block structure look like in bitcoin?
    A block contains the hash of the previous block and is therefore cryptographically linked to its previous block. Besides that there are transaction data inside the block. Actually the transaction data summarized in a data structure called the merkle tree. This means at the end you will only have one hash, which is called the merkle tree root. The root is a kind of summary of all transactions in a particular block. The third part of the block is the nonce parameter (besides the timestamp and the mining difficulty). Miners only change the nonce parameter during the mining process until the resulting hash is below the target, which is dependent on the current difficulty.

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#296

It helps with the transparency and highlighting dishonest moves.

Contains the recent transactions which could not fit in the previous block, the previous block’s data, time data, and a nonce.

#297

  1. it is important because it secures the network. It. makes it so if you change one block, every block after it is also changed.

  2. Every block contains the hash of the block before it, all the transactions chosen by the miner, a nonce and some meta data.

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#298
  1. It is important to have blocks cryptographically linked together since it makes it impossible to corrupt the blockchain. If you manage to change the data inside one block, then you would also have to guess the new hash of all the subsequent blocks which were cryptographically linked to the hash function of the block you corrupted. cryptography ensures immutability.
  2. The structure of a block is the following: The blocksize, the block header (the hash of the previous block and the current difficulty target), the transaction list, the nonce.
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#299

Homework on Blockchain and Mining Visually - Questions

The links provide security making it impossible to corrupt the blockchain without re-mining all the blocks.

THE BLOCK STRUCTURE IS MADEUP OF FOUR PARTS

  1. A nonce that needs to be guessed.
  2. The data message in the block.
  3. The previous hash
  4. The block hash.
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#300
  • Why is it important that the blocks are cryptographically linked together?- The system has been built to avoid any changes in the previous blocks. Any change in the previous block break the chain.
  • What does the block structure look like in bitcoin? It is made of Previous hash, current transactions and nonce
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#301
  1. It insures that previous blocks cannot be changed … immutable .
  2. block 1 Transactions block 2 Transactions block 3 Transactions
    nonce Nonce Nonce
    block hash Previous Previous
    block hash (1) block hash (2)
    Block hash (2) Block hash (3) and so on .

Nonce is used to determine a hash number below a level of difficulty for miners ,

#302
  1. They are linked together crytographically to maintain the integrity of the data. Any changes to previous blocks will break the chain.

2.The block contains it’s own hash and the hash/nonce of the previous block. This in itself creates it’s own unique hash.