Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#3476

  1. Increases integrity in the blockchain, makes it more difficult to alter the previous blocks.

  2. The block structure in a bitcoin contains a previous hash, transaction list, and nonce.

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#3477
  • Why is it important that the blocks are cryptographically linked together?
    • Each block is chained together, which makes it immutableā€”cannot be changed. Each is linked backward to the precious block.
    • If the hash function is changed in any transaction it will produce an entirely different hash

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

  2. Previous hash

  3. Nonceā€”random number

  4. Dataā€”transaction list

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#3478
  1. It helps to prevent the data from being altered which is data immutability
  2. In the block on the bitcoin blockchain contains the previous hash, transactions, and nonce. The hash of the current block based on all three of these factors
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#3479
  1. The cryptographic link protects a blocks data.
  2. Block number, nonce, transaction data, previous blocks hash, current blocks hash.
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#3480

Itā€™s important that the blocks are cryptographically linked together for the security and integrity of the blockchain and the network. It ensures that no one has gone back and changed any data of a transaction or anything else.

The block structure is basically made up of the nonce , the hash of the previous block & the data from the transactions in the block.

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#3481

  1. Why is it important that the blocks are cryptographically linked together?
    Integrity and security of the blockchain network is maintained

  2. What does the block structure look like in bitcoin?
    Bitcoin Block contains previous hash, nonce and transaction data

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#3482
  1. Why is it important that the blocks are cryptographically linked together?
    This maintains the security and integrity of the network since blocks are added based on previous blocks. If changes were made to any blocks, the links would be broken in the blocks following the change in data.
  2. What does the block structure look like in bitcoin?
    The hash for a block is determined by the previous hash, tx list, and nonce.
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#3483

  1. Why is it important that the blocks are cryptographically linked together?
    It is important because this ensures rules are followed, enhances security and the alteration of any block is not pursued.

  2. What does the block structure look like in bitcoin?
    Block structure consists of nonce, transactions data, previous hash and current block hash.

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#3484
  1. This is the essence of the block chain. Each blocks hash value is dependent on the 1. previous hash. 2. the transactions in this block and 3. the nonce- random number being worked at. This ensures that the previous blocks and transactions cannot be changed without everyone noticing. This is where the immutability of the ledger comes from.
  2. 1 hash of the previous block 2. new transactions in this block and 3, the nonce. hashed together
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#3485

  1. In this way changes in previous blocks would alter all following blocks and the network would notice these changes and can reject them.

  2. Nonce, UTXOs, previous hash

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#3486

  1. This secures the network and makes a trust less network possible. No intervention of past data is possible making this network extremely safe.

  2. Each block is comprised of the previous blocks hash, the transactions and the nonce. The current block will be confirmed out of these data points.

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#3487

1 so no one can alter the blockchain
2 transaction data nonce and previous hash

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#3488

  1. So that it is impossible for any 1 or even group of computers to change the block because all subsequent blocks will be different and that change will be competing against all other miners to find the nonce first.

  2. The block structure in BTC contains the Hash of the ledger, Hash from previous block and the nonce.

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#3489

Why is it important that the blocks are cryptographically linked together?
ensure Blocks remain imutable

What does the block structure look like in bitcoin?
transaction, previous block, transaction counter, current target , nuance, hash

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#3490
  1. Why is it important that the blocks are cryptographically linked together?
    This is one of the reasons it is impossible to change past transactions.
  2. What does the block structure look like in bitcoin?
    In one block you have: 1) nonce 2) data 3) hash 4) hash of previous block
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#3491
  1. Why is it important that the blocks are cryptographically linked together?

It is important because it is crucial for the integrity of the whole blockchain, for itā€™s credibility and security. If the were not linked by hashing, cryptography and proof of work, no one could trust the integrity of the blockchain and double spending would be possible, rendering the whole concept damn near useless.

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

In bitcoin - blocks include the hash of the previous block (which is the hash of the whole chain in a way), the transaction list of the current block and the nonce, that hopefully the given computer managed to calculate on time within the hashing target range to score the block reward for itself.

ā€œBe who you are and say what you feel, because those who mind donā€™t matter, and those who matter donā€™t mind.ā€

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#3492

  1. Its the basic foundation of blockchain, that blocks containing transactions are linked with hashes. It means, that if you would change any previous block, it will damage the linkage between blocks and whole network knows, that these blocks are not correct and someone interfere with information of previous blocks.

  2. In one block in Bitcoin you have nonce, data of transactions, hash and hash of previous block.

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#3493

1.So that the hash stayes the same and that no change is made to the block.

2.Hash of the block,input and otput,hash of the previous block,input and otput of the previous block etc etcā€¦

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#3494
  1. it is important so nobody can make changes without being noticed
  2. in every block we have the previous hash, the current hash transactions and nonce.
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#3495

  1. To make blockchain a secure network making practically impossible to be corrupted. If one block gets altered all the blocks linked to that chain will get invalidated.

  2. TX, cryptographic hash, previews hash and nonce number.

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