Homework on Blockchain and Mining Visually - Questions

Blockchain and Bitcoin 101
#1187

Great answers!!! keep up the good work! :clap:

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#1188
  1. So that manipulation is hard/impossible. It creates the trust the network need to uphold it’s value for transactions of information and/or value.
  2. Tx’s, previous hash and nounce.
Bonus

Awesome course! :sunglasses:

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#1189

  1. By linking blocks together, a change in one results in a change in the others. Because database must have consensus amongst all nodes and because the longest chain of blocks is the chain under validation; any change in a block will result in that chain falling out of consensus as well as shortening the chain removing it from being validated. The cryptography creates a code that cannot be deciphered so blocks cannot be counterfeit.

  2. Each block has the hash of the previous block, the hash of the transactions in the block and the nonce, which is the hash to be discovered which meets the requirement of having a value less than the target.

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#1190
  1. The blocks are picked up by the miners. They will solve all the Cryptographic puzzle and put it in the block chain. By doing that the miner gets reward. The miner must make sure the network is secure by using their computing power called Hash rate.It ensures that the transactions are censorship resistant. If the blocks are not linked together the blockchain wont move forward. In fact, this is how Proof of work functions: making sure all the blocks are linked with each other. rewards= security.
    2.It will show :
    Block numer
    Nonce
    Data
    Previous block
    Hash
    Miner
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#1191

Thanks! :smiley: much appreciated!

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#1192
  1. Why is it important that the blocks are cryptographically linked together?
    It is important that the blocks are cryptographically linked together because this is the true basis (magic) of blockchain technology which Bitcoin is based on. The cryptographical link provided by the ‘Hash Functions’ securely maintains the links between each block. Each block consists of the hash of the previous block and the hash of that block. Therefore, if ANY data is changed, the hash of that block changes and the subsequent block (along with any others) would be cut off/rejected.
  2. What does the block structure look like in bitcoin?
    • Block Header
    • Hash of Previous Block Header
    • Merkle Root
    • Transactions
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#1193

My Answers:

  1. So that Data can’t be changed in any way
  2. Previous Hash, TX list of Current Block, and Nonce
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#1194

  1. It creates integrity. Blocks contain information from the previous block and any changes in the block changes the hash thereby breaking the chain.

  2. The structure of a block is
    Nonce - target number
    previous hash
    current transactions
    block hash

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#1195

Any data that can be hashed inside the block like transactions or messages

#1196

  1. Why is it important that the blocks are cryptographically linked together?
    To ensure the integrity of the blockchain and to prevent bad actors from trying to tamper with it.

  2. What does the block structure look like in bitcoin?
    Block height, hash of previous block, Merkle root hash, timestamp, difficulty target, nonce, current block size, block header, transaction counter, transactions list

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#1197

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

    • Because of the nature of the blockchain it would make it difficult for someone to change past transactions because of the first answer.

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

    • Hash that is derived from the previous hash,Transactions in current block and a nonce
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#1198

Homework on Blockchain and Mining Visually - Questions

  1. Why is it important that the blocks are cryptographically linked together?
    To ensure that everyone follows the rules to receive rewards.

  2. What does the block structure look like in bitcoin?
    Previous hash
    TXs
    Nonce

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#1199

  1. It is important that all blocks are linked cryptographically so that it is impossible to make changes to previous blocks in the chain. If blocks were not linked then miners could go back and re-write history and the newer blocks could continue to be valid and accepted in the chain.

  2. In bitcoin, the block will contain a hash of the previous block, a list of transactions, a nonce, and its own hash to be used by the next block.

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#1200

  1. Crypto linking ensures the ledger of transactions have not be altered. Each new block is dependant on the previous blocks hash. Any change in a hash will break all proceeding blocks.

  2. Block consists of transactions, a hash of the previous block mined and a nonce.

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#1201

  1. Because they insure the security of the chain of data from manipulation and setup integrity of the blockchain. If data is changed any where on the chain, all links are broken going forward from that point

  2. Block structure for bitcoin is:
    Hash of previous block
    Transaction list
    Hash of the data input
    Nounce

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#1202

  1. Why is it important that the blocks are cryptographically linked together?
    To insure the validity of all transactions processed and also the security of each and all transactions.

  2. What does the block structure look like in bitcoin?
    Each block forms a hash number based on the hash number of the previous block, the transactions contained in itself and a nonce number.

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#1203

  • Why is it important that the blocks are cryptographically linked together?
    This is important to ensure immutability. By linking the blocks cryptographically, no data can be altered in previous blocks without impacting all those blocks that follow.

  • What does the block structure look like in bitcoin?
    In BTC, each Block contains the Hash of the previous Block, a Hash of all the transactions in that block and a Nonce which is determined by the target set. All of which sets the Hash of that Block.

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#1204
  1. Why is it important that the blocks are cryptographically linked together?
  • The link verifies that bocks were not tempered with, since mining
  1. What does the block structure look like in bitcoin?
  • Each block contains:
    -previous block hash
    -transactions list
    -nonce (that needs to be guessed to meed the hash dificulty)
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#1205

1.) For the security of the blockchain.

2.) Input, output, timestamp, txid, size, tx, nonce…

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#1206

the block structure looks like this:
(the hash of the previouse block chain+transactions+ the nonce)< target

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