Homework on Blockchain and Mining Visually - Questions

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

It is important that all of the blocks are cryptographically linked together so that it is almost impossible for somebody to go back and change a transaction in the blockchain because it would break every link from that block onwards.

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

The block structure in bitcoin contains all of the transactions, the previous blocks hash and the nonce which is a random number.

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

Security. You can not change any previous blocks without having to redo the subsequent blocks making it virtually impossible to edit. Such a thing of beauty!

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

Nonce - TX data - Previous hash

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  1. To make the whole system follow the rules and that no one can change or modify transactions or even delete transactions

  2. first you have previous hash (data) then needs a new unique hash (fingerprint) then transaction then the nonce (random number) which is used to try and get the hash low enough to be accepted

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  1. Why is it important that the blocks are cryptographically linked together?
    Bacause you want to change a block you have to change all of the following block. This make manipulating the ledger very, very difficult.
  2. What does the block structure look like in bitcoin?
    The block includes the transactions the hash of the previous block and nonce
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  1. This is necessary to create the chain. And the longest chain is the most true version of the blockchain. so this will be the chain that other nodes and miners will see as the reality. without this construction you can not trust the blockchain. To explain it in another way. With this link it makes it impossible to change something in previous blocks.
  2. You have the hash of the previous block, the list of tx’s and a nonce. these 3 togehter will create the new hash for the next block.
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  1. Because every previous block is securing a new one by writing in prev hash into a new hash. So no former transaction can be changed, backed out or dbl spent. This secures a network in a unchangeable chain structure

  2. it is a summary of a previous hash + a list of present Txs + nonce (number under the target value guessed by the miner)

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So any change in the previous block affects the following. If you would change a transaction in previous block it would break the link to the next block and all the following blocks.

Hash of current block that consists of:

  • Previous block hash
  • Nonce (random number that is guessed by the miner)
  • Transaction data
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It is important because of that you cannot alter old blocks without altering all blocks that comes after which ensures that in practice you cannot change history of transactions

In block you have transactions that are chosen by miner, hash from previous block and nonce which is random number that miner have to guess in order to make hash for this block smaller then the target

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  1. Why is it important that the blocks are cryptographically linked together?
    Blocks are cryptographically linked together to ensure the integrity of the data and decentivising miners to break any rules.

  2. What does the block structure look like in bitcoin?
    The block structure of bitcoin mainly includes:
    in no particular order,
    A block number
    A record of some or all transaction data
    A previous hash and current hash
    And a number called a Nonce

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  1. Why is it important that the blocks are cryptographically linked together?
    Every block contains the hash of the previous block which prevents data being altered on a particular block, as every subsequent block would have its hash altered by the previous block’s altered transaction.

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

Hash of previous block
Transactions (as well as all other data such as timestamps etc.)
Nonce

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

This gives security to the network and makes it uncensorable.

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

Each block consists of list of TX’s, previous hash and a nonce, which is a random number miners need to find.

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  1. Why is it important that the blocks are cryptographically linked together?
    It is important that the blocks are cryptographically linked so that the credibility of the blockchain is secured. If one change is made, the rest of the blockchain changes.
  2. What does the block structure look like in bitcoin?
    The block structure looks like a series of data compartments filled with transactions, a previous hash and a nonce linked together by chains. These chains are cryptographic puzzles based on the information found in the previous block.
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  1. Why is it important that the blocks are cryptographically linked together? It’s important that the blocks are cryptographically linked together to ensure the integrity of the transactions. Any change to a block will not only invalidate that block, it will also break the link and invalidate prior blocks. This will deter any hackers from taking malicious action on the blockchain.

  2. What does the block structure look like in bitcoin? A block is a container data structure that adds up all the previous hash, list of transactions and nonce for inclusion in the blockchain. The block is made of a header, containing metadata, followed by a long list of transactions that make up the bulk of its size. The block header is 80 bytes, whereas the average transaction is at least 250 bytes and the average block contains more than 500 transactions. The block header consists of three sets of block metadata. A reference to a previous block hash that links to the prior block in the chain. A set of metadata, namely the difficulty , timestamp , and nonce , relate to the cryptographic puzzle. A metadata is the merkle tree root, a data structure used to efficiently summarize all the transactions in the block. The further you go back in the blockchain, the harder it is to change it. It becomes immutable.

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it assures that all TX hash is correct and can continue to the next block

minors hash the previous hash and nonce to predict the target # if correct qualified to become the next block in the block chain receiving block rewards and TX fees

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  1. Blocks are chained :link: together that becomes their data immutable. This engages more Power :muscle: of Work in the community which positively :sun_with_face: :rainbow: effects the consensus of the algorithm in the network.

  2. https://devopedia.org/blockchain

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

Linking the current block to the previous block and the subsequent block is in part what makes the blockchain an ever-growing linked list of transactions (providing it with the property of immutability), and the deterministic nature of the hash algorithm makes it possible for each node to get the same result without issue (providing it with decentralization)

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

The block structure consists of the hash from the previous block, the transactions included within the current block, a timestamp and the calculated nonce number

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  1. They’re linked together to ensure the continuity of the chain and the security of the information. One change in data changes every hash after that point on every block, also causing the need to be re-mined.
  2. An interface with a block hash, transaction list, input and output
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  1. The hash of each block depends upon the hash of the previous block, which makes any changes to the content of the block create a completely different hash that needs to be re-mined.
  2. Hash: current transactions, previous block’s hash, and the nonce. Transactions: a list of all transactions inside the block.
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  1. It is important the blocks are cryptographically linked because the blocks keep the information secure on the blockchain by creating a link. It would be impossible to change all the blocks and catch up with the new blocks.

  2. Previous hash function
    data transactions
    Nonce
    new hash output

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  1. Blocks being linked together cryptographically guarantees that it is practically impossible to go back and change the data in the previous blocks which prevents the system from being abused by bad agents.

2.In bitcoin, the block consists of the previous hash, list of transactions, and randomly generated nonce value that makes sure the total hash value is lower than the target threshold so that the block is accepted.

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