Bitcoin Scripting and Transaction Enhancements Quiz

What is the primary purpose of Proof-of-burn in the context of Bitcoin transactions?

To send coins to a burn account that cannot spend or redeem the coins

What does Pay-to-script-hash aim to achieve in Bitcoin transactions?

Enhance flexibility and security

In Pay-to-multi signature transactions, what is required before coins can be spent?

Multiple parties need to sign the scriptSig

What distinguishes fully-validating nodes from lightweight nodes in the Bitcoin network?

Fully-validating nodes store the entire block chain, while lightweight nodes only store pieces needed for verification Signup and view all the answers

What specific check does a node perform before relaying a new block in the Bitcoin network?

Block meets the hash target and has all valid transactions Signup and view all the answers

What capability does Pay-to-multi signature offer Bitcoin users?

Lock coins with a requirement for multiple parties to sign the scriptSig Signup and view all the answers

What does a nonce represent in the process of mining?

A number that miners can modify to get the desired hash Signup and view all the answers

How does hash cash prevent email spamming?

By making email senders perform computational work to send an email Signup and view all the answers

What role does a nonce play in hash cash?

Starting as a counter and incrementing to calculate a hash Signup and view all the answers

How does blockchain resolve disagreements when chains fork?

By choosing the longest chain that has undergone the most work Signup and view all the answers

What is the purpose of Proof-of-Work in blockchain?

To ensure trustless consensus among miners Signup and view all the answers

What is the main function of payload in a block?

To record actual data or transactions like sending money or information Signup and view all the answers

What is the purpose of the script in a 'Pay-to-Public-Key' Bitcoin transaction?

To specify the conditions for spending the sent Bitcoin Signup and view all the answers

In a 'Pay-to-Public-Key' transaction, what is required to spend the Bitcoin in the future?

A digital signature matching the public key Signup and view all the answers

What does a Bitcoin address (of the recipient) represent in a Pay-to-pubkey-hash (P2PKH) transaction?

A hash of the public key Signup and view all the answers

Why can't the sender provide a full public key in a scriptPubKey in a Bitcoin transaction?

To save space in the transaction output Signup and view all the answers

What is needed to redeem coins sent to a Bitcoin address?

Signature and public key Signup and view all the answers

What ensures that only the rightful owner can spend the received funds in Bitcoin transactions?

Public and private key pairs cryptographic security Signup and view all the answers