Homework on Blockchain and Mining Visually - Questions

  1. To secure the network and to be sure that no miner can change something into the previous blocks.
  2. His own hash
    Hash of the previous block
    Transactions list
    Nonce
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  1. That add security to the blockchain, because when somebody try to cheat the system by rewriting a transaction in a block all the following block are separated, making it impossible to catch up and make the change accepted by the blockchain.

  2. It is the hash of the previous block, random transaction and a nonce (random number) to get a hash below a target.

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It is important that they are linked together because it ensures that the block is co-dependent and changes in blocks cannot go unnoticed.
Block consists of transactions. Each block has a digital fingerprint which is called hash, which consists of all the data in the block plus hash from the previous block plus the nonce.

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  1. So that no miners can alter the previous blocks’ data, and to ensure there is no double spending. When the blocks are cryptographically linked together, if you change a previous block’s data, the block’s hash and all the subsequent block hashes will be invalidated, and the blockchain will be rejected.

  2. Hash of previous block, Transaction list, correct Nonce guessed, Hash of current block.

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  1. Why is it important that the blocks are cryptographically linked together?
    More security. Bigger the blockchain (high number of blocks), more secure it is and harder to break. Every next block verify previous block.
  2. What does the block structure look like in bitcoin?
    Block consists of:
  3. prevous block hash
  4. transactions of current/belonging block
  5. nonce (guessed number)
    If nonce guessed, all three togeter represent block hash.
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  1. Why is it important that the blocks are cryptographically linked together?
    So that the data becomes immutable. This makes it impossible for a miner to catch up with the new blocks if something in the previous one is changed. The link between the blocks would be broken.

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

  • Block number
  • Transactions
  • Previous hash
  • Nonce
  • Difficulty
  • Current hash (is it also called Merkle root?)
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  1. This ensures that blocks are hard to alter, thus securing the integrity of the network.

  2. Each block contains transactions, data on the previous block, and a nonce that is below the target for the respective block. All blocks are linked together in a continuous string called a blockchain.

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  1. Why is it important that the blocks are cryptographically linked together?
    So that no one can make the 51% attack and do the double spend.

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

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  1. It is important to cryptographically link the blocks together to secure the integrity of the data in each block.
  2. Combine information from input with transactions in block and nonce. Hash together.
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Blocks cryptographically linked are practically impossible to modify, making them highly secure. If you attempt to modify the data inside a block, the hash will change, and since every block uses information from previous blocks to create its links, you will break the entire chain in the process.

A block stores data usually in the form of a list of unconfirmed transactions, a nonce, a unique hash fingerprint, a hash of the previous block.

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  1. It is important that the blocks are cryptographically linked together to increase security from Miners who would want to re-mine previous blocks. In this way all previous blocks are connected to the newly added block and this would increase the difficulty of re-mining (allowing double spend) previous blocks.

  2. The block structure is mainly composed of a Hash, another Hash of the previous block, transactions in the current block, and a Nonce. All blocks are linked in a Linear, Uni-directional way starting from the first block to the newest block appended.

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

It is important because when blocks are chained together, this makes their data immutable. When a block of data is cryptographically chained to the other blocks, its data can never be changed again.

What does the block structure look like in bitcoin?

It consists of:

  • block number,
  • timestamp representing the current Unix time (it’s a number of seconds elapsed since 1st January 1970),
  • Nonce (which stands for number used only once9,
  • Data (like transactions),
  • Prev. Block’s Hash.
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  1. Why is it important that the blocks are cryptographically linked together?
    It´s important because the data cannot be modified, therefore creating a system in which the entire amount of transactions are written in the network.
  2. What does the block structure look like in bitcoin?
    Block Number - Transactions List - Hash Number - Previous Hash Number - Nonce
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  1. Why is it important that the blocks are cryptographically linked together?
    This is ensures the security and immutability of the blockchain. By doing this, its makes it virtually impossible to corrupt the blockchain and therefore the data on it. Its beautifully clever!

  2. What does the block structure look like in bitcoin?
    Basically you have:
    -A block number, a sequential number of that block.
    -Transaction hashes, data that the miners have collected from the mempool in order to admit to the blockchain
    -The current blocks hash number
    -The previous blocks hash number
    -The nonce which stands for ‘number used only once’ and this is the puzzle that needs to be guessed and needs to be lower than a target that is determined by the network and based on the difficulty required according to the amount of miners at work.

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  1. It is important that the blocks are cryptographically linked together because (a) this cryptographic linkage ensures that the confirmed transactions in each new block are enshrined in the blockchain (as per the digital stone analogy) and (b) because the linkage enhances security in that each subsequent cryptographic link would have to be re-mined were a hacker to attempt to manipulate a previous one.

  2. In bitcoin, the block structure looks like a string of blocks which are connected to one another by cryptographic links, thereby forming a chain of blocks. Each block contains a set of confirmed transactions and each new block re-confirms each of the previously confirmed transactions. Moreover, the creation/addition of each new block is governed by the SHA-256 hash function which attributes a digital fingerprint of sorts to each particular block. In many ways, the bitcoin block structure is the simplest of all the different blockchains because it only has one purpose: to enable users of the network to transfer value between and amongst each other directly, peer to peer (i.e. it is not a programmable blockchain like Ethereum).

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

A1 - Practice adopted to inhibit action against the violation of the data contained in each block and the rules established by the consensus algorithm;

2 - How is the block structure in bitcoin?

A2 - Header containing block number, Nonce (random number necessary to guess); Body containing the data (transactions) to encrypt and footer containing the previous hash; and the hash of the block (finger print).

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  1. It’s important for the blocks to be cryptographically linked together because this increases the security of the blockchain. If a previous block is changed then the subsequent blocks will also have to be changed.

  2. The block structure is comprised of block #, Nonce, Data, Previous Hash, and the Hash.

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  1. Data immutability,no double spend, not able to go back and remove transactions from the blockchain(invalidated),no censorship.

  2. Block consists of the previous block hash, a transaction list(UTXO’s),the nonce(which has to be guessed by miners over and over again till the hash of the current block is lower than the target) and the current block hash.

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  • Because if you change anything in the block- hash will change and blocks will not be linked anymore
  • previous block hash, transactions and nonce
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  1. Why is it important that the blocks are cryptographically linked together?
  • lays the foundations for security and immutability
  1. What does the block structure look like in bitcoin?
  • previous hash + tx + nonce
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