Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#3978
  1. Why is it important that the blocks are cryptographically linked together?
    To ensure the uniformity of all the blocks and it’ s oneway of trustworthy that no body can change the hashes.
  2. What does the block structure look like in bitcoin?
    Previous block hash - Current transaction - Nonce
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#3979

Thanks Maki…now i don’t feel like a misguided missile.

#3980
  1. Adds security and immutability as each transaction has a digital finger print linked to one another insuring the transaction can’t be changed.
  2. Block number, nonce, transactions,previous block hash and the hash.
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#3981

Why is it important that the blocks are cryptographically linked together?
To improve the security of the network as a whole, and to keep people from change something on the blocks previously made.

What does the block structure look like in bitcoin?

The link with the network comes from a hash function of the previous block. With that hash, the block will register the current transactions it had verified and then the minner will try to input those transactions at the network in the form of a new block. If it could reach(or guess) the nonce, it will be allowed to introduce its new block, that will produce a new hash function so the process start again with new blocks being input.

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#3982

  1. to be linked together means that it cannot be changed and not have an effect to the next block or the previous.

  2. hash, tx lists, nonce.

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#3983
  1. In one word “Security”. Links verify contents of previous and next blocks, so nothing in either block can be effectively changed.
  2. Nonce, Data, Previous block hash & Current block hash.
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#3984
  1. Why is it important that the blocks are cryptographically linked together?

It provides the cryptographic hash that visually shows a pattern of a connection to the next block, also the previous hash is also used in the next block to makeup that blocks hash as in: None + Data + Previous Has = Current Hash

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

It resembles a chain of linked data that imprints previous hash data onto each block that follows - This is noticeable visually as well as computationally.

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#3985
  1. Why is it important that the blocks are cryptographically linked together?
    It provides immutability and finality in a technological manner, hence you don’t need to trust anyone to keep the integrity of the information.
  2. What does the block structure look like in bitcoin?
    Data (transactions), Hash of previous block, Nonce
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#3986

1. Why is it important that the blocks are cryptographically linked together?
increases the strength and security of the network, making data altering near to impossible.

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

previous block hash + UTXO’s (data) + nonce (random number) = new hash that is required to be lower then the target number (target number which is lowered with the increase in mining and network usage) if the new blocks hash is not lower then the target, the hashing is done again and again until the requirements are met.

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#3987

Homework- Mining Part 2

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

Any change to a transaction within any of the previous blocks in the blockchain, changes the hash of all subsequent blocks, which would then have to be recalculated to fit network requirements previously determined to link blocks. Since this is currently practically unfeasible, the blocks (and therefore, the blockchain itself).are considered immutable

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

The block contains:
• The block number
• Nonce
• Data: Transactions list
• Previous block hash
• Threshold Target
The block hash

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#3988

1.The current blocks hash is derived partly from the previous blocks data. The blockchain functions as a connected network so each new block is somewhat made up of previous blocks. A change to a block in the past would change the hash of all following blocks.
2. The data or transactions within the current block, previous block hash and the nonce

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#3989
  1. It makes the network secure- providing integrity through PoW and preventing altering of historical data.
  2. Block number, Nonce, Transaction Data, Previous Hash from Previous Block, and Hash of the Current Block.
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#3990
  1. Why is it important that the blocks are cryptographically linked together?
    To prevent changes to the previous blocks therefore guaranteeing all the transactions are valid
  2. What does the block structure look like in bitcoin?
    A block with block number as header, Nonce, Data block containing all the transactions, previous hash containing the hash from the previous block, Hash which is the hash results on the current block
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#3991
  1. Why is it important that the blocks are cryptographically linked together?

This ensures the safety of the blockchain. So that someone dont go back and edit an previous block, this will cause the links between the blocks to break and the blockchain will be invalided.

  1. What does the block structure look like in bitcoin?
    Data transactions, previous hash and a nounce that needs to be guessed.
1 Like
#3992

  1. it is important that all the blocks are linked together to ensure the security of the network as the hash of the previous block is used to generate the hash of the next block thus making it more difficult for anyone to tamper with previously mined transactions - immutability.

  2. The block structure consists of the hash of the previous block, data of all the transactions in the block and the nonce which is a random number that has to be guessed in order to achieve a hash less than the target.

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#3993
  1. Why is it important that the blocks are cryptographically linked together?
    To discourage miners from illegally changing previous transactions which will be fraudulent
  2. What does the block structure look like in bitcoin?
    previous block hash, actual list of all current transactions, hash of all current txns, nonce hash which is lower than a target based on number of active miners at that point in time
2 Likes
#3994
  1. It is important for blocks to be cryptographically linked so if someone goes back and changes a transaction the chain breaks. it secures the network.
  2. The block structure in bitcoin is previous hash, transaction list, nonce, repeated block to block.
1 Like
#3995

  1. Why is it important that the blocks are cryptographically linked together?
    a. to ensure security of the individual blocks, that way it is almost impossible to change prior blocks.

  2. What does the block structure look like in bitcoin?
    b. each TX is linked to at least two other TX’s by the previous and subsequent hash/nonce

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#3996

  1. to secure the network

  2. 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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#3997

  1. By cryptographically linking blocks together it maintains the integrity of the blockchain and prevents anyone from altering transactions in previous blocks.

  2. The block structure consists of the hash of the previous block, the transactions in the current block and a nonce (randomly generated number) that produces a hash for the new block that is below the target

2 Likes