Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#3657
  1. Why is it important that the blocks are cryptographically linked together?

The cryptographic link between the blocks is a key feature of the Bitcoin’s blockchain, it creates data immutability and avoid problems like the double spending.

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

Block number > Nonce > Transaction Data > Hash of the Previous Block > Hash of current block

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#3658

  1. It is important that the blocks are cryptographically linked together to ensure the integrity of the data within a block. i.e. the transactions cannot be changes/manipulated. So that all data in the blockchain remains ‘true’.

  2. The block structure contains the transaction list, the nonce and the previous hash.

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#3659
  1. Why is it important that the blocks are cryptographically linked together?
    This increase the security by making practically impossible to change data into 1 block without (immutability) having to re-hash all subsequent blocks
  2. What does the block structure look like in bitcoin?
    Block #
    Nonce
    Data
    Prev
    Has
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#3660
  1. To ensure all miners following the rules and secure the network’s integrity
  2. Block structure: Previous hash + TXs + nonce = New hash.
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#3661
  1. This shows Pow and that no one is manipulating the receipts
  2. There is the data in the block and previous hash, transactions and then your nonce. this is what determines the next block
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#3662

  1. Why is it important that the blocks are cryptographically linked together? Because it, makes it very hard to tamper with the blocks.

  2. What does the block structure look like in bitcoin? Data and a hash + hash of the previous block. And a nonce

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#3663

It is important that blocks are cryptographically linked together for the security of the blockchain. That way no transactions can be changed in previous blocks because it would break the link to the next block and all that follow.

The hash of the block is based on the transactions in the block plus the previous hash and the nonce that needs to be guessed.

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#3664

  1. Why is it important that the blocks are cryptographically linked together?
    This secures the network as it is impossible to reverse hashes to find the original input.\

  2. What does the block structure look like in bitcoin?
    Each block consists of the transactions inside that block plus information from the previous block and the nonce which is the number that needs to be guessed by miners

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#3665

  1. Why is it important that the blocks are cryptographically linked together?
    So that no block can be altered without having to re-mine the entire chain from the point of the alteration forward.

  2. What does the block structure look like in bitcoin?
    the new transactions seeking to be added onto the block, plus the previous hash plus the nonce, plus the target.

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#3666

  1. It is important that blocks are linked cryptographically because it ensures that there is consensus and that all previously solved blocks are included in the hashing calculation which ensures data integrity of all previous blocks.

  2. Previous Hash
    Transactions for new block
    nonce

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#3667
  1. Why is it important that the blocks are cryptographically linked together?
    The fact that they are linked enables identification whether someone was trying to mess with some data. When even one character has been altered it will produce all different hashes starting from that block through all subsequect blocks.
  2. What does the block structure look like in bitcoin?
    Block contains list of transactions, nounce -a random number, the hash from previous block and its own hash
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#3668

  1. It is important that blocks are cryptographically linked together, because this way it ensures that data can not be changed in the blocks without disrupting many of the other blocks and breaking the chain of data.

  2. Nonce - TX - Previous Hash = Hash

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#3669

1.To make sure the system follow the rules, So no one can change things, delete any history transaction and control it by some groups.
2. Previous block hash , Block number - Nonce - Transaction Data- hash of the current block.

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#3670

  1. Why is it important that the blocks are cryptographically linked together?
    It’s important they’re linked together to ensure the integrity and security of the blockchain. If they’re not cryptographically linked together, then transactions from the previous block can be tampered with.

  2. What does the block structure look like in bitcoin?
    The block has a Hash which is based off of the Previous Block’s Hash, List of transactions in the current block, and the Nonce.

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#3671
  1. Why is it important that the blocks are cryptographically linked together?

It is important that blocks are cryptographically linked together so that POW is established and integrity in the system is maintained. Since miners are incentivized to make money, they must do it by not breaking any rules. This is ensured by their significant upfront cost of electricity use in order to solve a cryptographic puzzle. If they are the first to solve it, the block gets appended to the blockchain and they get the block reward with inflation and the transaction fees from all the transaction fees from the block. However, if there is an error in the block entered by the miner, then the block will not accept it in the network and they would have lost their initial upfront investment costs. The process of appending to the blockchain is very expensive but the reward is greater. Hence, this reward incentive keeps the miners focused on appending only blocks with integrity.

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

List item

  1. Previous Hash (first transaction/block reward with inflation)
  2. Miners in nodes attempt to solve the next block by solving a cryptographic puzzle based on the previous link
  3. If POW is established and they are the first to solve it, then the next hash block is established and the miner is rewarded
  4. The process is repeated
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#3672

Homework on Blockchain and Mining Visually - Questions

  1. Why is it important that the blocks are cryptographically linked together?
    So that when somebody tries to change a block somewhere in the chain all of the blocks after that are invalidated.

  2. What does the block structure look like in bitcoin?
    A block consists of a Nonce, Transaction data (of which the first data is block rewards and fees) and the hash of the previous block.

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#3673
  1. Why is it important that the blocks are cryptographically linked together?

so it is difficult to find out the information with in the blocks. also if you change anything in previous blocks, then all blocks must be remined. it creates security.

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

a block is basically a hash that is calculated by using the previous block’s hash, the current blocks transaction list. this is then combined with a random number or nonce.

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#3674

Why is it important that the blocks are cryptographically linked together?
The fact that blocks are cryptographically linked ensures that the data cannot be altered. Changing data in a previous block would require changing all following blocks.
What does the block structure look like in bitcoin?
A bitcoin block contains the hash of the previous block, data of the current block and the nonce

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#3675
  1. it is important to ensure that nobody can manipulate past blocks. If somebody attempts to do so, all the upcoming blocks will have another hash (because their hash is based of the previous hash that is manipulated) that is very likely to be not lower than the target and therefore rejected.
  2. a block consists of its number, nonce, (transaction) data, previous hash and current hash.
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#3676

!. to ensure the security and integrity of the blockchain.
2. A block consists of list of txs previous block hash and a nonce

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