Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#3155
  1. So that everyone will know when someone tries to change anything on the previous blocks.
  2. TX list, Hash of Previous Block , Hash, Nonce
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#3156

1.it’s important because it makes sure that the blockchain can not easily by changed or tampered with.
2. each new block is made out of the previous block hash, new transaction data and the nonce which should be so that the hash value is lower then the target specified.

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#3157

1.) Ensures the intergrity of the Blockchain = immutable
2.) A Block contains a hash, transaction data and a nonce.

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#3158

Previous block hash too.

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#3159

Cryptographically linked blocks ensures security and immuntability.

A block consists of a hash from the previous block, and the nonce and the resulting hash once is it mined.

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#3160
  1. Each added block increases the security and immutability of the preceding blocks and increases the security and immutability of the blockchain as a whole. The cryptography is the tool used to ensure difficulty in breaking the links
  2. Previous Hash, current block transactions, the nonce and the hash of the previous 3
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#3161

  1. Why is it important that the blocks are cryptographically linked together?
    To provide transparency as blocks which are link together have data that correlates to previous blocks, to provide immutability as the longest cryptographically linked chain is a database in which data is not altered or manipulated and to provide incentive for miners to adhere and follow these network protocols to ensure the security of the chain is not compromised by any form of attacks.

  2. What does the block structure look like in bitcoin?
    It has the previous hash value, data of transaction gathered from mempool(usually the ones with highest transaction fees), nonce which is a random number that is hashed in conjunction with previous hash value and the data of transaction in the block to produce a new hash value whereby the goal is to produce a new hash value that is < than the target value which is based on the difficulty which is adjusted based on the hash rate available in the network

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#3162
  1. Why is it important that the blocks are cryptographically linked together?

It is to secure the network. Once the transaction is changed in hashed block the link with get broken and then the previous block and the link and so on…

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

It is data of transactions that are hashed using previous block hash and nonce number

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#3163

  1. It is important that each of the blocks are linked together for the sake of security. Once a block is formed it directly impacts the hash for the next block and the next block and the next block. if you go back and change data from block number 1 with 5 blocks in front of it, each block in front will change due to the change in data from the first block. Because each block is connected it adds security. No previous transaction will be able to changed or modified.

  2. The block is formed by the hash of the previous block, the transactions, and the nonce that needs to be mined

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#3164

  1. Blocks being linked together is key to making the entire blockchain immutable - you can’t go back and change any of the blocks without invalidating the whole blockchain.

  2. Each block in bitcoin has: a transaction list, a previous hash, a nonce, and a current hash.

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#3165

Homework on Blockchain and Mining Visually - Questions

  1. Why is it important that the blocks are cryptographically linked together?
    Because it will ensure the integrity and accuracy of the whole blockchain. Any changes in the data will be rejected by the nodes.

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

it looked like a “chain” of blocks linked with one another by hash function and cannot be modified

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#3166

this is the structure of the blockchain.

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#3167
  1. Why is it important that the blocks are cryptographically linked together? - to better secure the blockchain, so that no one is able to go back and change anything that is written in the digital stone.
  2. What does the block structure look like in bitcoin? - a block is composed of the previous block’s hash, transaction list in the current block, and the nonce.
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#3168
    1. Because blocks are cryptographically linked together, the hash of each block is directly linked to the hash of all previous blocks. If anyone were to change a value somewhere in the chain, it would immediately invalidate all hashes after the change, and thereby break the links to all blocks that came after the change. This process ensures, that as soon as a value is changed retroactively, the “new” blockchain will be ignored by the network.
    1. Each block contains a list of all the transactions, a hash of the previous block plus a randomly generated nonce.
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#3169
  1. Because it makes the blockchain impossible to modify
  2. Transaction + previous hash + nonce, all this must be hashed and it makes a block.
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#3170

  1. Why is it important that the blocks are cryptographically linked together?
    To secure the blockchain, to ensure its immutability and finality

  2. What does the block structure look like in bitcoin?
    It consists of the previous hash, transaction lists, the nonce, and the current hash from those 3

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#3171
  1. Blocks are linked together so that if a miner will try to change a transaction from the block this will disrupt all the following blocks in the chain. By linking blocks together prevents miners to try and trick the system making it easier to play by the rules.
  2. A block structure is constructed by NOUNCE + LIST OF TRANSACTIONS + PREVIOUS BLOCK HASH.
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#3172
  1. Why is it important that the blocks are cryptographically linked together?
    So they can’t be changed later.
  2. What does the block structure look like in bitcoin?
    Data transactions, hash function from the previous block, nounce and a new hash output.
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#3173

  1. It is important , because each hash contains data from the previous block’s hash. If they are not cryptographically linked it will be easier to change transactions and there won’t be finality.

  2. The bitcoin block consist of a hash , previous hash, transaction list and a nonce.

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#3174
  1. Why is it important that the blocks are cryptographically linked together?

Answer: der link ist eine art Ăźberwachungs kette, er sorgt fĂźr sicherheit indem er ĂźberprĂźft ob die daten Ăźbereinstimmen.

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

Answer: Nonce, Data, Prev-Hash and current hash.

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