Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#3778
  1. This ensures the integrety of the network.
  2. The block is made up of previous hash, transactions on the current block and nonce number.
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#3779

Homework on Blockchain and Mining Visually

  1. It makes the network more secure. The older the block is, the more difficult it is to change some transaction on it because it would be required to hash every block that comes after it.

  2. The blocks are linked into a chain. Every block is linked into the chain when miners create hash which is a result of the previous hash, transaction data and nonce.

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#3780

  1. Because it makes almost impossible to do a change in the history of the blocks

  2. It consist of the hash of the previous and current block, list of transactions, nonce, amount of transactions, summaries, fee, times, sizes, version and reward.

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#3781
  1. Why is it important that the blocks are cryptographically linked together?

It is important as this makes the block chain secure & that info in all blocks canā€™t be manipulated otherwise all blocks would have to be re-mined as the hash will change in all the following blocks. This makes it very secure

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

The block structure is made up of transactions + previous hash + nonce + new hash

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#3782
  1. Why is it important that the blocks are cryptographically linked together?

So that the network is unbackable and canā€™t be changed.

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

A bitcoin block consists of: list of transactions, nonce, hash of previous block, the block number on the header, and the new hash that is produced.

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#3783
  1. it makes it harder or impossible to alter or delete a prior transaction.
    2.It has a hash number with many transaction entries.
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#3784
  1. It is important that the blocks are cryptographically linked together because it creates a directional momentum that protects the system and incentivizes trust.
  2. The block structure in bitcoin includes a Hash, Transactions and a nonce. The hash is created from the previous hash, the transactions and the nonce.
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#3785

What is used as an input for the block hash number? :wink:

#3786
  1. Why is it important that the blocks are cryptographically linked together?
    Otherwise transactions will fail. To make sure that data canā€™t be altered.
  2. What does the block structure look like in bitcoin?
    The block is made out of data. The block has a previous hash, transactions and nounce, The current block is based on the previous one.
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#3787
  1. This prevents any past block from being changed by incorporating its hash into all future blocks.
  2. A chain of linked blocks where each block incorporates the hash from the last block.
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#3788

Homework on Blockchain and Mining Visually - Questions

Because it helps to prevent the blocks to be changed.

Hash of the previous block > Transactions > Nonce.

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#3789

  1. So that if anyone tries to change anything it has to be in agreeance with all the nodes/miners. If it is not in agreeance for something like a double spend it will be rejected by the network and never be approved. This is achieved by having the blocks cryptographically linked together. This also achieves immutability and a trustless network.

  2. Each block contains the transactions list, previous hash, and nonce. Once officially accepted in the network it will have a hash. So a completed block has all 4 things (tx list, previous hash, nonce, and hash)

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#3790
  1. it is important that blocks are cryptographically linked together to ensure the integrity of the block chain by keeping it secure by hash rate as well as preventing double spend throughout the blockchain.

2.The structure is made up of a list of hash TX inputs & outputs per byte that the miner was able to fit into each block and confirm. The sequence of blocks making up the blockchain are linked together with nodes competing to have their current blocks appended to the block. The miner will check the mempool to see how many Satoshi per bytes as well as the fee payable are held in the mempool and then decide whether to confirm TX from list to block being created.

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#3791

  1. It is important that blocks are cryptographically linked together because that is what maintains the integrity of the blockchain. If one block has been modified, all subsequent blocks would be corrupted. A malicious actor would then not only have to solve the modified block, but also all other blocks after it.

  2. A bitcoin block contains the hash of the previous block, the transactions chosen by the miner to be included in the block, the nonce, and the blockā€™s hash once it has been solved.

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#3792

1/ it is the way to be sure the blocks have the right information. The new block has information of the previous one and so on. No one can change any tx because then the link between blocks and the rear blocks would change and would not be the hash that was at the begining
2/ a block has: data + hash of the previous block + nonce (this has to be guessed by the miners, it is a ramdom number. This nonce, has to be lower than the target.

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#3793
  1. To provide a secure record of all transactions that cannot be altered because it is the longest chain.
  2. Previous hash, transactions, nonce.
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#3794

The hash of the block content plus a random string of numbers (the nonce) should be lower than the target not the nonce.

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#3795
  1. The link between the blocks is a mathematical puzzle that links all previous blocks together.
  2. In the block we have previous hash, transactions and nonce. The hash of current block base on all these three factors.
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#3796
  1. Cryptographic connection of blocks on the chain ensures that any block that IS amended would become immediately apparent. This feature is part of what makes the blockchain more secure and transparent than traditional systems.
  2. previous block Hash
    Transaction/s
    Nonce
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#3797
  1. to insure that all blocks are remained unchanged, this makes everything trustless, and secure.
  2. the new hash hold the previous hash number plus all the new transactions/data of the new bitcoin and the nonce is also included.
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