Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#3115
  1. Why is it important that the blocks are cryptographically linked together?
    because it is not possible to make new block without knowing hash of previous block
  2. What does the block structure look like in bitcoin?
    Nonce
    Tx
    previous hash
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#3116

  1. Why is it important that the blocks are cryptographically linked together?
    This is to build in the integrity of the blockchain, the hash of the current block is “derived” from the previous hash, and so validates no historic blocks have changed.

  2. What does the block structure look like in bitcoin?
    Made up of the previous hash, the current hash, and nonce.

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#3117

  1. To increase the security and integrity of the network, new blocks are created after the problem / nonce has been solved by the miners and it ensures authentication and no double spending.

  2. The Hash of the block is based on the hash of the previous blocks linked to the new block hash. Hence all the previous nonce work, transactions, blocks and links.

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#3118

  1. It is important that the blocks are cryptographically linked together, so that any attempt to alter a previous block will also need to change the following blocks.

  2. Block structure in Bitcoin would be a hash of transaction, input and output.

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#3119
  1. The network retains immutability by using a quality of hash functions, to create unique outputs, to link blocks. This means transactions cannot be censored, altered, or stopped by anyone.
  2. Block number > Nonce > Transaction Data > Hash of the Previous Block > Hash of current block
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#3120
  1. Why is it important that the blocks are cryptographically linked together?
  2. What does the block structure look like in bitcoin?

1.To make it impossible to cheat by changing something in previous blocks, as everything is linked.
2. The previous Hash + Transaction lists + Nonce : then hash it (create a new block)

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#3121
  1. so that the data is secure and it is very difficult to change previous inputs without adequate resorces.
  2. each block is a hash number, which is derived from the hash function, calculated from the new list of transaction, the previous block’s hash and also a nonce.
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#3122
  1. Because each block it’s linked to the previous one, making the data immutable. A change in any transactions inside the block, would produce a different hash, creating a domino effect altering the hash of subsequent blocks.
  2. Version- Previous block hash- Merkle root- timestamp- bits-nonce- transaction count
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#3123

Homework - Mining-Part 2
1- it will ensure the integrity of the blockchain and make it impossible to change any information once it is written.
2-the hash(fingerprint of the block). previous block HASH, transactions , and nonce

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#3124

  1. Why is it important that the blocks are cryptographically linked together?
    Cause this is all about the security and the verification of the blockchain.

  2. What does the block structure look like in bitcoin?
    The block structure includes the header and the transaction list data. The header includes the nonce, the timestamp and the previous block hash.

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#3125

  1. Why is it important that the blocks are cryptographically linked together?
    -It ensures the security of blockchain that all the blocks have the same data, making alter transactions impossible.

  2. What does the block structure look like in bitcoin?
    -The block contains the transactions of this block, the transactions from the previous block, and the nonce. All the blocks are connected by a kind of link based on previous transactions.

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#3126

  1. Why is it important that the blocks are cryptographically linked together?
    By doing so it will make it much more secure. If someone changes one part of the link, the link going forward will automatically change and will be ignored.

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

The block will be based on the information of the current hash, nonce, previous hash, transaction list and it will have be lower than the target

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#3127

Why is it important that the blocks are cryptographically linked together?
To ensure integrity of a blockchain, to secure the network & to ensure no double spend.

What does the block structure look like in bitcoin?
A hash comprises a previous hash, TX list & a nonce (guessing a number).

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#3128
  1. blocks are linked cryptographically so that it becomes impossible to alter one block without having to re mine all subsequent blocks and catching up the the blocks that are continuously being added making it secure.
  2. block structure looks like a series of blocks that are linked by its unique fingerprints(hash).
    the structure of this hash is made out of previous hash+ TX +nonce
2 Likes
#3129
  1. Why is it important that the blocks are cryptographically linked together?
    so that it creates a chain which cannot be broken which creates security
  2. What does the block structure look like in bitcoin?
    A block consists of the previous hash, the transactions and the nonce which creates a new hash which is lower than the target
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#3130

  1. It’s important that the blocks are cryptographically linked together because the information contained in the newest block depends on the contents of what is in the previous block, and the previous block’s contents depends on the contents of the block before it, and so on. This is due to the math and the physics of the blockchain, if one block is changed - all of the other blocks after that need to change as well.

  2. The block structure starts with one block containing the transactions, the nonce, and the hash of that block (the fingerprint of the block). All of the blocks after the first block contains the transactions, the nonce, and the hash of the previous block, and its own hash.

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#3131

  1. When changing anything in one block, it breaks all the hashes on subsequents blocks. Forcing the re-mining of these broken hashes

  2. Block # | NONCE | Previous Hash | Transaction Data | New Hash

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#3132

  1. It’s important that the blocks are cryptographically linked to ensure altering txn history virtually impossible. By making it a fools errand to operate outside of the designed protocols, it ensures network security and fidelity.

  2. The block structure in bitcoin looks like a series of interconnected boxes where the properties in one, are directly altered and affected by the properties in the previous block. Those properties being, the txn list data, the previous block’s hash, the nonce, and the target zone.

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#3133

  1. The blocks being cryptographically connect keeps the network secure and immutable. You can’t change one without changing a host of other blocks. It isn’t beneficial to attempt to cheat the system because of the way it is linked.

  2. Nonce
    TX list
    Previous hash
    TX hash

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#3134

  1. to keep miners from cheating (changing transactions in a previous block)

  2. data
    previous hash
    hash
    nonce

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