Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#3597

  1. Why is it important that the blocks are cryptographically linked together?
    To make it hard to remove or alter the blocks. If a block is changed then all blocks in front of that block would need to be changed. To secure the network.

  2. What does the block structure look like in bitcoin?
    Each block holds a hash. A hash is the digital fingerprint of the block. The hash of the block consists of:

  • the hash of the previous block
  • the transaction list
  • nonce
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#3598

  1. Why is it important that the blocks are cryptographically linked together?
    So as to maintain integrity of the blockchain. If one is changed, the links will be broken.

  2. What does the block structure look like in bitcoin?
    Nonce, previous hash, transactions; and these three will create the current hash.

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#3599
  1. Why is it important that the blocks are cryptographically linked together?
    It makes the blockchain more secure and practically impossible to modify.
  2. What does the block structure look like in bitcoin?
    Structure of a block consists block size, block header, transaction counter and transactions. Block header consists version, previous block hash, merle root, timestamp, difficulty target and nonce.
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#3600

  1. It is Important, to ensure security. If something changes in a earlier block, every link breaks, because every block after is based on the consenus of the past blocks.

  2. At the end of the chain, the block header contains its version, the hash of the last block, transactions out of the mempool, a timestamp, the target, the nonce and merkle root.

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#3601

1. Why is it important that the blocks are cryptographically linked together? it is important in order to keep the network secured and honest, no double spending and no altering any kind of transactions.

2. What does the block structure look like in bitcoin? a block will contain a list of transactions, nonce, previous block hash and this specific block hash that will generate from all of those combined.

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#3602
  1. The links ensures all the transactions are genuine and the rules are applied providing security to the entire network.
  2. It is basically formed by a Hash and a nonce linked to a previous Hash (previous transaction).
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#3603

  1. Why is it important that the blocks are cryptographically linked together?
    Becouse your next block is part of the previous you cant fraud the system.

  2. What does the block structure look like in bitcoin?
    Previous block, transaction and nonce.

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#3604

  1. This makes the ledger immutable.

  2. Block structure:
    *Magic no.
    *Blocksize
    *Blockheader
    *Transaction counter
    *List of transactions

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#3605

1.) It is important because if something in one block changes, everyone in system will notice and every other block after this would become incorrect. So nobody can cheat.

2.) It got the previous hash, the nonce, a timestamp, transaction-datas, difficulty, blocksize and its actually hash in it.

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#3606

1.It is important that the blocks are linked cryptographically together because in this way you can not modify any previous transaction since the link of the next block would be broken and those that go afterwards.
2. -Magic #
-Block size
-Block Header: *Version
*Hash previous block
*Hash Merkle route
*Current time
*Target
*Nonce
-Transaction counter
-Transactions.

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#3607

  1. The cryptography adds a layer of security, as well as difficulty - which makes up the proof-of-work consensus.

  2. In Bitcoin, each block contains the hash of the previous block, a list of transactions currently on the blockchain, as well as the nonce, which appends the current block to the previous block - therefore forming the blockchain.

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#3608
  1. The are linked together so that they are not corrupted. Each block is made using Unspent Transactions, Previous Blocks hash and Nonce, Any change in the block will make the entire chain invalid after that block due to hash value change. Hashes makes blocks foolproof.
  2. Block Header or Sequence, Nonce, Unspent Transactions, Previous Hash and Current Blocks Hash.
2 Likes
#3609

1. Why is it important that the blocks are cryptographically linked together?
It is important for the security of the blockchain. If you change something in one block, all the links to following blocks will break.

2. What does the block structure look like in bitcoin?
Block number, Data, Nonce, Hash of previous block, Target, Timestamp

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#3610

As far as I know, the UTXO set is never explicitly committed to or stored in blocks, it is merely implied by them.

#3611

  1. Why is it important that the blocks are cryptographically linked together?
    It ensures the integrity and immutability of the network.

  2. What does the block structure look like in bitcoin?
    It consist fo Previous Hash, transaction list and a nonce based on random numbers which miners have to guess.

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#3612

Thanks, you are right. It should be unconfirmed transactions not unspent transactions.

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#3613

  1. For the security of the blockchain. Each new block depends on the accuracy of the previous block, so a miner attempting to commit fraud will have to remine each block that followed. This would require immense computing power and therefore serves to secure the blockchain against fraud.

  2. Blocks are made of the previous block’s hash, new transaction data, and a nonce that, when combined with the other data, creates a final hash for the block that is lower than a target number.

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#3614

  1. It is important that the blocks are cryptographically linked together because the security of the network is dependent on no blocks being altered and not being able to go back and change anything. This type of link is more secure and very hard to break

  2. The block structure in bitcoin consists of the previous block’s info, transactions, nonce

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#3615

UTXOs are stored in the tx data which are part of the block data.

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#3616
  1. Definitely for the safety of the blockcain. The new block is always based on the previous
    one with the associated link. If anything in the chain is changed, all of the following
    blocks must also be changed.
  2. Answered with 1
1 Like