Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#3276
  1. to ensure theres is not corrupted data
  2. nonce+TX+ previous hash= hash
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#3277

  1. Why is it important that the blocks are cryptographically linked together?
    it ensures blockchains are immutable and the integrity of the data in the block and the network is maintained. Further, i think it can present itself as a form of node identifier / cpu authentication.

  2. What does the block structure look like in bitcoin?
    The output appears as a random alphanumeric string of 256 characters that have the following items encrypted within the block: Previous hash, UTXOs, TX - Transaction details, Block rewards, block fees, and nonce guessing loop that solves the cryptographic puzzle.

rjr
2021-03-05T05:00:00Z

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#3278
  1. Security is kept in check when each block is link to the previous block.
  2. Block #, Nonce + transaction data + previous block hash = Current block hash
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#3279

  1. It is important because all blocksā€™ digital fingerprint is dependent to all transactions having taken place in the past. So, tampering the transactions at one point is the chainā€™s history is impossible without altering the blocks that come after it, and thus altering the blockchain history impossible.

  2. The block has
    a) The transactions that constitute the block (UTXOā€™s)
    b) The previous blockā€™s hash
    c) A nonce
    d) The current blockā€™s hash which is derived by encoding using the sha256 algorithm a, b and c

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#3280

  1. These links are literally what gives meaning to the word ā€œChainā€ in Blockchain. Each block has a digital fingerprint which is then used by the following block. If the transaction that occurred 50 blocks ago is changed, the numbers would not add up for the current TXs occurring today. In other words, in order to make sure that everything balances and no money is lost, it is crucial that each block links to the previous blocksā€™ data to make sure the network is operating correctly.

  2. A block contains the following
    UTXOs
    Previous blocksā€™ HASH
    Nonce
    Current blocksā€™ HASH (which is derived by using the SHA256 algorithm to encode it all together)

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#3281
  1. Because is keeps the network secure and strong and immutable
  2. you have a hash function, nounce, previous hash, block size, transaction counter, block header and current target
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#3282

  1. It is important because this keeps a chain of transactions and maintains integrity of the blockchain.

  2. Hash of previous block, transactions, nonce

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#3283
  1. Why is it important that the blocks are cryptographically linked together?
    -the more the block, more secure the network. it help to prevent the data from being amend/alter etc.
  2. What does the block structure look like in bitcoin?
    -consist of previously hash + the new block tx + nonce
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#3284
  1. It exponentially increases the difficulty of amending a previous block ensuring the integrity of the network.
  2. Block number, Nonce, Tx data, Hash of previous block, proof of work (new hash of current block)
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#3285
  1. For security. So if anyone tries to change some previous transaction it will be visible to everyone.
  2. Nonce, previous hash, transaction list.
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#3286
  1. Why is it important that the blocks are cryptographically linked together?

It increases the difficulty in changing historical data significantly.

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

Block Header / Previous Hash / Unconfirmed Transactions / Nonce / New Hash

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#3287

  1. Why is it important that the blocks are cryptographically linked together?
    It secures the integrity of the blockchain and the links make it that much more difficult to make changes to a block because if a change is made to any block all other blocks change as we.

  2. What does the block structure look like in bitcoin?
    block- nonce- data- previous hash - hash- miner**

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#3288

  1. This ensures the security and itegrity aspect of blockchain. It makes it impossible to manipualte the data, to make it incomplete or intransparent. If all blocks are linked together any attempt to manipulate previous transactions would affect all other transactions, also linking blocks makes it impossible to exclude some of them arbitrarily. Blocks that are linked confirm the integrity of the previous blocks and makes sure that the initial block is not omitted.

  2. Bitcoin blocks contain version/time stamp/size; nonce; set of transactions; hash that represents the particular block; hash of the previous block.

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#3289

  1. Why is it important that the blocks are cryptographically linked together?
    by linking together itā€™s almost impossible for anybody to change TX inside the block. any block. once you make a change, everything else from that point is changing. in other words we can say that it raises the scurity of the network to a very high level.

  2. What does the block structure look like in bitcoin?
    block = TX + pre(block). hash + nonce + hash of block

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#3290

  1. It prevents the manipulation of the blocks/data and secures the network.

  2. The hash of the current block, the hash of the previous block, transaction list of the block, the NONCE and the hash number generated.

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#3291
  1. Why is it important that the blocks are cryptographically linked together?
    The blocks need to be cryptographically linked together to ensure the security of the chain and to make it almost impossible to change previous blocks.
  2. What does the block structure look like in bitcoin? A Bitcoin block structure starts with a header that shows information such as the previous hash, timestamp of operation, difficulty of the operation, nonce and root followed by the transactions. The structure ends with the new hash.
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#3292
  1. The link creates immutability.
  2. Block header, previous block hash, current transaction list and nonce. For bitcoin you should see the UTXO and current block reward of 6.25 BTC plus transaction fees rewarded.
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#3293
  1. The reason that it is important is that it creates the block that canā€™t bring back other blocks to be linked together well.
  2. The block structures look like the database block where it has the header of which version and transaction of any app that carries cryptocurrencies.
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#3294

  1. So that the whole network is connected and one change in the previous block will affect the entire network.

  2. Block header, previous hash, transaction list for the block, nonce and the new hash number.

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#3295

  1. Blocks are cryptographically linked together to ensure the security of the Bitcoin network. Altering one character in any transaction on any block will change the hash of that block, which means it will no longer match the previous hash of the next block and so on. This proof of work verification makes the network extremely secure.

  2. The block structure in Bitcoin consists of the following:

  • Block #
  • Nonce
  • Transactions List
  • Previous Block Hash
  • Current Block Hash
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