Homework on Blockchain and Mining Visually - Questions

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

It is important for the security of the blockchain. As they are cryptographically linked, changing a TX in one block means the attacker would have to do PoW on all blocks after this - practically impossible.

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

Previous block hash
list of UTXOs
nonce

All these 3 are used to generate the current block hash.

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To make it unchangeable

Identity
Nonce to be guessed
TX
Prev block hash
This block hash, based on the TX and previous hash

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

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

  3. Each block has a hash (or fingerprint). If , at anytime, the information in that block is changed, then it would break the chain and the fingerprints of all previous blocks would change and the nodes will invalidate the affected block and all previous ones before it. To resoncstruct all affected blocks could take thousands of years.

  4. Hash from the previous block. A hash created from it’w own transactions. A nonce. A target.

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

to ensure security and immutability, as any change to a block breaks the links

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

shown as the nonce, data, and the previous block’s hash, once mined (found the nonce/solved the puzzle) it generates the hash number for that block

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1.It is important that the blocks are linked together so no one can alter the data and make it a corrupt network.This way ,nothing can be changed, so everybody needs to play by the rules to mine and make transactions.The system is built so you trust the math and physics not a third party.
2.A block is designed to be made by the previous hash, transaction list and nonce. Once the nonce is guessed, a hash will be made that needs to fit under a certain number called target to be accepted in the blockchain.

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  1. It prevents people from changing or deleting blocks.
  2. hash of the current block = previous block’s hash + current transaction list + nonce number
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  1. it is important that the blocks are cryptographically linked together to maintain integrity within the system and secure the network.

  2. each new block created is highly dependent on the information from the previous verified block of information to complete it before it is added to the chain. this information includes all transactions, a random number (the Nonce), and the hash for that block. in addition to the fact that before the previous block is added the complete block is given a hash before it is added. this makes it extremely difficult or infeasable to cheat.

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Homework on Blockchain and Mining Visually - Questions, July 19th 2020

  1. Why is it important to that blocks are cryptographic linked together?

The cryptography link is generated and holds data from the previous block, if any changes in data
(or external manipulation) are made, then the blocks become invalid and rejected
by the network.

  1. What does the block structure look like in a bitcoin?
    The block is made up of block nonce, previous transaction & current
    transaction data, previous hash data, and hash data of the current block.

-Hector A. Martinez

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Q1. Why is it important that the blocks are cryptographically linked together?
It is important for security and integrity of the blockchain network and ensuring a single source of truth of the bitcoin blockchain. If any miner tries to change a previously mined block, the links to the subsequent blocks in the network will be broken and the chain will be rejected by the network.

Q2. What does the block structure look like in bitcoin?
Bitcoin structure is:

Block size
Block header - Version, Hash of the previous block, Merkle root, timestamp, difficulty target, nonce
Transaction counter
Transactions - UTXOs

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  1. The blocks must be linked to form a cohesive ledger, and encrypted to prevent counterfeit blocks.
  2. Blocks are made of transactions, and a nonce, which are used together with the previous hash to derive the hash that references the next block.
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  1. Why is it important that the blocks are cryptographically linked together?
    It ensures that the blocks are immutable.

  2. What does the block structure look like in bitcoin?
    The block consists of the block number, nonce, the list of transactions, previous block hash and the calculated hash number for current block by the use of guessed nonce.

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  1. It is important that blocks are cryptographically linked in order to prevent transactions from being altered, and to incentivise miners to play by the rules. Blocks are linked so that if one block is altered, it will break its links with all the other blocks in the chain, and hence the alteration will be rejected.

  2. The block structure is made up of: block number; nonce; data (i.e. transactions); previous hash; and current block hash.

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1. Why is it important that the blocks are cryptographically linked together?
So that it is very difficult to substitute a block and change transactions , you would have to create a new blockchain
2. What does the block structure look like in bitcoin?
The block consists of a nonce , the transaction list and a hash of the previous block in a data structure some other things may be involved like the time of creation , we havn’t covered this yet though.

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  1. This is what makes the block chain immutable.
  2. Previous Hash + Data + Nonce = Hash
    If hash < nonce = block added
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  1. Why is it important that the blocks are cryptographically linked together?
    For Security Reasons, that you can not easy change any previous block/transaction without the whole chain becoming invalid.
  2. What does the block structure look like in bitcoin? like blocks, connected with links, in the blocks are previous hash, nonce and information (transaction information)
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  1. Why is it important that the blocks are cryptographically linked together?
    It helps make the chain more secure.

  2. What does the block structure look like in bitcoin?
    A block contains the current time, a record of transactions, a reference to the previous block and a nonce.

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  1. Data immutability
  2. TX hash Inputs Outputs
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#1 security,POW,

#2 pre hash is on blockchain and future hash is determined by nonce job is to find the correct numbers to move on down chain …

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  1. Keeping blocks cryptographically linked together makes the network secure; it becomes censorship resistant, and double spending becomes extinct.

  2. Each block consists of: a list of transactions; a hash of its own list of transactions; and the hash of the previous block. A nonce is required to create a new block from the previous block, which is what miners spend electricity on finding.

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

When the blocks are cryptographically linked, changing an earlier block, would alter their hash, altering that the data was altered.

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

Inside the block you have the previous block hash, all transactions (current block) plus the nonce. They are all hashed to assign that hash to the current block.

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