Blockchain Principle Quiz
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Questions and Answers

What data structure do nodes use to collect valid transaction data before creating a new block?

  • Hash table
  • Merkle tree (correct)
  • Linked list
  • Binary tree structure
  • What happens after a node solves the hash puzzle of a new block?

  • It deletes the previous blocks from the blockchain.
  • It initiates a new round of hash puzzles without sharing.
  • It sends the newly created block to all other nodes. (correct)
  • It permanently stores the block without notifying others.
  • Which of the following is a key purpose of the hash puzzle mechanism in blockchain protocol?

  • To facilitate immediate sharing of transaction data
  • To enhance transaction validation speed
  • To encrypt transaction data for security
  • To create a consensus on the transaction history (correct)
  • What is the process that occurs if a newly arrived block is identified as invalid?

    <p>The node discards the block and continues processing transactions.</p> Signup and view all the answers

    How do nodes ensure that no transaction data is processed more than once?

    <p>By removing transactions already included in valid blocks.</p> Signup and view all the answers

    In a peer-to-peer communication system, what is a primary role of the gossip model?

    <p>To ensure all nodes eventually receive all information.</p> Signup and view all the answers

    What is the main reason nodes need to validate all transaction data before adding them to the blockchain?

    <p>To maintain the integrity and correctness of the blockchain.</p> Signup and view all the answers

    Why is it crucial for a majority of nodes in the system to behave honestly?

    <p>To ensure the system can maintain a uniform transaction history.</p> Signup and view all the answers

    What consequence arises if a block is later identified as invalid after being added to the blockchain?

    <p>It is removed along with subsequent blocks, and transactions are reintegrated into the inbox.</p> Signup and view all the answers

    What is a requirement for a block header in a blockchain?

    <p>It must contain a valid root of a Merkle tree.</p> Signup and view all the answers

    How does the difficulty level for adding new blocks change?

    <p>It is set dynamically based on the speed at which new blocks are added.</p> Signup and view all the answers

    What does solving a hash puzzle require for a new block's integrity?

    <p>The nonce must be added to the preliminary header.</p> Signup and view all the answers

    Which of the following ensures the chronological order of blocks in a blockchain?

    <p>The time stamp of each block must be after its preceding block's time stamp.</p> Signup and view all the answers

    What characterizes the peer-to-peer network in a blockchain?

    <p>Each node has a unique address and can connect or disconnect at any time.</p> Signup and view all the answers

    What method is used to keep existing connections alive in a peer-to-peer network?

    <p>Periodic ping messages sent to peers.</p> Signup and view all the answers

    Which of the following statements about message delivery in peer-to-peer communication is true?

    <p>Messages can arrive multiple times and may not arrive at all.</p> Signup and view all the answers

    What is the purpose of the Merkle tree within a block?

    <p>To create a compact representation of all transactions.</p> Signup and view all the answers

    Which of the following best describes the hash puzzle mechanism?

    <p>It requires computational work to secure the network.</p> Signup and view all the answers

    What can happen if the difficulty level in a blockchain is set too low?

    <p>It can allow manipulation of transactional data history.</p> Signup and view all the answers

    What is the main incentive for contractors in a performance-related compensation system?

    <p>They receive compensation for correctly marking answer sheets first.</p> Signup and view all the answers

    How does peer control function in the blockchain algorithm?

    <p>Nodes are both workers and supervisors, enforcing the rules.</p> Signup and view all the answers

    What occurs if a contractor marks an answer sheet incorrectly?

    <p>They must refund their compensation to the discovering contractor.</p> Signup and view all the answers

    What are the validation rules for transaction data in blockchains based on?

    <p>Formal correctness, semantic correctness, and authorisation.</p> Signup and view all the answers

    What is one potential downside of the performance-related compensation system observed initially?

    <p>Rapid performance improvement followed by quality decline.</p> Signup and view all the answers

    What is the role of competition in the blockchain algorithm regarding block creation?

    <p>To create a balance between speed and quality in processing transactions.</p> Signup and view all the answers

    What is the consequence for a node that submits an invalid block in the blockchain?

    <p>Only valid blocks are considered for rewards and invalid ones cause the competition to restart.</p> Signup and view all the answers

    How is the hash puzzle significant in a blockchain?

    <p>Only the first to solve it can process any transactions.</p> Signup and view all the answers

    What triggers the competitive dynamic for quality checks in the blockchain?

    <p>Nodes need to validate blocks from other peers after a submission.</p> Signup and view all the answers

    What does the blockchain algorithm aim to preserve while allowing transaction data addition?

    <p>The integrity of the transaction history.</p> Signup and view all the answers

    Study Notes

    Step 16: Protecting the Data Store

    • Every block header must reference a previous block's hash and contain a valid Merkle tree root for transaction data.
    • The difficulty level must be appropriate to avoid manipulation or lack of participation in the blockchain.
    • Average time to solve a hash puzzle is about 10 minutes; adding 20 blocks requires approximately 210 minutes of computation.
    • Timestamp rules enforce a chronological order, linking blocks correctly in the blockchain.

    Step 17: Distributing the Data Store among Peers

    • Peers in a peer-to-peer (P2P) system can join or leave at any time and maintain lists of their connections.
    • Communication among nodes relies on messages sent to unique addresses; messages may not arrive reliably or in order.
    • Nodes forward new information to peers and use hash values to filter out duplicate messages.
    • Regular ping messages help maintain active connections; inactive nodes can be removed.
    • New nodes need the full transaction history to integrate into the network.

    Step 18: Verifying and Adding Transactions

    • New transaction data is shared across all nodes to ensure collective knowledge and validation.
    • Each node processes new transactions for validity, authorization, and correctness before adding to a Merkle tree.
    • Valid blocks are added to the nodes' blockchain copies; invalid blocks are discarded, preserving chain integrity.
    • Nodes earn transaction fees for valid blocks, incentivizing quick processing and peer accountability.
    • The system remains resilient even if some nodes act dishonestly; the assumption is that most nodes are honest.

    Key Principles of Integrity and Trust

    • Security mechanisms utilize asymmetric cryptography and digital signatures to restrict access to transaction accounts.
    • Gossip communication ensures eventual dissemination of information to all nodes.
    • A joint effort from the majority of honest nodes helps maintain integrity and counter deceitful actions.
    • Differences in transaction history can prompt further investigation into the blockchain structure.
    • Nodes receive economic incentives tied to their performance, motivating their contributions to the maintenance of the blockchain system.
    • Incentives promote quality and speed but may also lead to subpar practices if not monitored properly.
    • The analogy with contractors illustrates the balance between reward and punishment inherent in creating an effective blockchain.

    Incentive Structures

    • Nodes act both as block creators and referees, ensuring that only valid transactions are accepted into the blockchain.
    • Competition between nodes—specifically speed and quality—ensures that transactions and blocks meet strict standards.
    • If a block is found invalid after submission, it starts a new round of competition to find a valid solution.

    Conclusion

    • The blockchain algorithm is a structured approach that encompasses validation, rewards, and penalties to maintain order within a decentralized environment.
    • All nodes continually supervise each other, fostering a self-regulating system that promotes trust and effective data management.

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    Description

    Test your understanding of blockchain principles with this quiz. It covers concepts related to block headers, hash puzzles, and transaction data organization in a blockchain. Ensure you grasp the essential rules governing block creation.

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