Lecture 2 (medium)

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What is a common characteristic of a centralized system?

Single trusted arbiter (correct)
Decentralized protocol
Distributed data storage
Client-server network

In a centralized system, what is the impact of a failure in the centralized authority?

No impact on the entire system
Data is securely stored
Distributed power among users
The entire system fails (correct)

What is the risk associated with a centralized authority having the power to modify the past state?

Enhanced data security
Increased system efficiency
Greater transparency in transactions
Potential manipulation of the current state (correct)

Which of the following is a potential disadvantage of a client-server network in computing?

Dependency on server availability (A) Signup and view all the answers

What feature distinguishes a centralized system from a decentralized one based on the provided text?

Single point of failure risk (D) Signup and view all the answers

What is the role of the success node in the blockchain network?

Collect new transactions into a block (B) Signup and view all the answers

How do nodes express their acceptance of a block in the blockchain network?

Including its hash in the next block they create (B) Signup and view all the answers

In the context of blockchain technology, what decreases exponentially as the number of confirmations increases?

Double-spend probability (D) Signup and view all the answers

What is the primary method for ensuring protection against double-spending in blockchain networks?

Consensus mechanism (A) Signup and view all the answers

What is the significance of 6 confirmations in blockchain transactions according to a common heuristic?

Confirmation threshold for finality (D) Signup and view all the answers

Why is it important for Bob and Alice to agree on the state of the system?

To ensure the accuracy of the transaction history between them. (B) Signup and view all the answers

What role does blockchain play in enabling Bob and Alice to agree on the state of the system?

Ensuring decentralization and eliminating single points of failure. (D) Signup and view all the answers

What information does blockchain technology help Bob and Alice agree on?

The current bitcoin balance in each of their accounts. (A) Signup and view all the answers

Why is it undesirable to have a single trusted arbiter in a transaction system?

It introduces a single point of failure that can be compromised. (C) Signup and view all the answers

What does the statement 'Once a new record is hashed and chained, the past records cannot be modified' indicate about blockchain technology?

Blockchain provides immutability and security for historical data. (A) Signup and view all the answers

What is the main purpose of a cryptographic hash function in ensuring data integrity?

Verifying the integrity of data (D) Signup and view all the answers

Which property of a cryptographic hash function makes it difficult to find the original data 'd' given its hash value 'v'?

Preimage Resistance (A) Signup and view all the answers

What role does distributed consensus play in blockchain technology?

Ensuring all network nodes agree on the state of the ledger (A) Signup and view all the answers

In the context of Bitcoins, what is the key technical challenge related to distributed e-cash?

Achieving distributed consensus (A) Signup and view all the answers

How does a distributed consensus protocol ensure agreement among nodes in a decentralized network?

By having all honest nodes agree on a proposed value (C) Signup and view all the answers

What is the problem with having a single trusted arbiter in a transaction system?

Concentration of power Signup and view all the answers

What is the main issue with a client-server network in computing?

Single point of failure Signup and view all the answers

Explain the significance of blockchain technology in terms of record modification.

Past records cannot be modified Signup and view all the answers

How does a distributed consensus protocol ensure agreement among nodes in a decentralized network?

Nodes reach a common decision through communication and verification Signup and view all the answers

What decreases exponentially as the number of confirmations increases in blockchain transactions?

Risk of transaction reversal Signup and view all the answers

What is the common characteristic of a centralized system highlighted in the text?

Single trusted arbiter Signup and view all the answers

Explain how nodes express their acceptance of a block in the blockchain network.

Nodes express their acceptance of the block by including its hash in the next block they create. Signup and view all the answers

What is the risk associated with a malicious adversary attempting a double-spending attack in the blockchain network?

The risk is that the adversary can deceive the network by spending the same cryptocurrency twice, undermining the integrity of transactions. Signup and view all the answers

How does the number of confirmations in a blockchain transaction affect the probability of a double-spending attack?

The probability of double spending decreases exponentially with the number of confirmations. Signup and view all the answers

What is the main method for ensuring protection against invalid transactions in a blockchain network?

Protection against invalid transactions is cryptographic, but enforced by consensus. Signup and view all the answers

Explain the role of a malicious node in attempting a double-spending attack in the blockchain network.

A malicious node can attempt to deceive the network by creating conflicting transactions to spend the same cryptocurrency twice. Signup and view all the answers

Why is it important for nodes in a blockchain network to extend the longest valid branch?

Nodes extend the longest valid branch to maintain consensus and ensure the integrity of the transaction history. Signup and view all the answers

What are the three properties of a cryptographic hash function mentioned in the text?

Message Digest, Preimage Resistant, Collision Resistant Signup and view all the answers

What is the fundamental concept in blockchain technology that ensures all nodes agree on the state of the ledger?

Distributed Consensus Signup and view all the answers

What key technical challenge of decentralized e-cash relates to distributed consensus according to the text?

Distributed Consensus Signup and view all the answers

What are the two properties of a distributed consensus protocol mentioned in the text?

Terminates and all honest nodes agree, Value proposed by an honest node Signup and view all the answers

What is the role of distributed consensus in the context of Bitcoins?

Ensuring agreement among all nodes Signup and view all the answers

What is the main challenge that a distributed consensus protocol aims to address in a network with faulty or malicious nodes?

Ensuring agreement on a common value Signup and view all the answers

How does blockchain technology enable Bob and Alice to agree on the current state of the system?

By containing a history of individual transactions, starting from the initial state and combining it with the history to derive the current state. Signup and view all the answers

What specific information do Bob and Alice need to agree on in a blockchain transaction system?

They need to agree on the amount of Bitcoins in each account, ownership of accounts, and the current state of the system. Signup and view all the answers

Why is decentralization preferred in blockchain technology instead of relying on a single trusted arbiter?

Decentralization ensures there is no single point of failure, compromise, or control, providing a higher level of security and trust in the system. Signup and view all the answers

What is the primary purpose of a block in a blockchain system?

A block serves as a sequence of hash-chained records that, once added, cannot be modified, ensuring the integrity and immutability of past transactions. Signup and view all the answers

How does a blockchain network prevent the modification of past records?

Once a new record is added to the chain and hashed, it becomes part of an immutable sequence of blocks, making it computationally infeasible to alter past records. Signup and view all the answers

What is the significance of the initial state in a blockchain transaction system?

The initial state represents the starting point of the system, and when combined with the transaction history, it determines the current state agreed upon by all parties. Signup and view all the answers

How do you ensure the 'real' or 'true' state of the data in a peer-to-peer network with untrusted peers?

By implementing a decentralized system where entities do not trust each other, but agree on the history of changes. Signup and view all the answers

Why was Blockchain considered unsuitable for systems requiring a high level of trust, such as money transfers?

Blockchain relies on a decentralized system where trust is not needed between entities, making it challenging for high-trust transactions. Signup and view all the answers

In the context of blockchain technology, what is necessary for two parties, like Alice and Bob, to play an online game of chess?

They need to agree on the initial state of the game board and the sequence of messages that led to the current state. Signup and view all the answers

What happens if Alice and Bob do not agree on the state of the chessboard in an online game?

They cannot continue playing the game as agreement on the board state is essential for gameplay. Signup and view all the answers

How does blockchain technology enable participants like Bob and Alice to agree on the state of the system?

Blockchain allows participants to reach consensus on the history of changes, leading to agreement on the current system state. Signup and view all the answers

What is the significance of reaching distributed consensus in a decentralized network utilizing blockchain technology?

Distributed consensus ensures that all nodes agree on the validity of transactions and the current state of the system. Signup and view all the answers

Lecture 2 (medium)

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Questions and Answers

What is a common characteristic of a centralized system?

In a centralized system, what is the impact of a failure in the centralized authority?

What is the risk associated with a centralized authority having the power to modify the past state?

Which of the following is a potential disadvantage of a client-server network in computing?

What feature distinguishes a centralized system from a decentralized one based on the provided text?

What is the role of the success node in the blockchain network?

How do nodes express their acceptance of a block in the blockchain network?

In the context of blockchain technology, what decreases exponentially as the number of confirmations increases?

What is the primary method for ensuring protection against double-spending in blockchain networks?

What is the significance of 6 confirmations in blockchain transactions according to a common heuristic?

Why is it important for Bob and Alice to agree on the state of the system?

What role does blockchain play in enabling Bob and Alice to agree on the state of the system?

What information does blockchain technology help Bob and Alice agree on?

Why is it undesirable to have a single trusted arbiter in a transaction system?

What does the statement 'Once a new record is hashed and chained, the past records cannot be modified' indicate about blockchain technology?

What is the main purpose of a cryptographic hash function in ensuring data integrity?

Which property of a cryptographic hash function makes it difficult to find the original data 'd' given its hash value 'v'?

What role does distributed consensus play in blockchain technology?

In the context of Bitcoins, what is the key technical challenge related to distributed e-cash?

How does a distributed consensus protocol ensure agreement among nodes in a decentralized network?

What is the problem with having a single trusted arbiter in a transaction system?

What is the main issue with a client-server network in computing?

Explain the significance of blockchain technology in terms of record modification.

How does a distributed consensus protocol ensure agreement among nodes in a decentralized network?

What decreases exponentially as the number of confirmations increases in blockchain transactions?

What is the common characteristic of a centralized system highlighted in the text?

Explain how nodes express their acceptance of a block in the blockchain network.

What is the risk associated with a malicious adversary attempting a double-spending attack in the blockchain network?

How does the number of confirmations in a blockchain transaction affect the probability of a double-spending attack?

What is the main method for ensuring protection against invalid transactions in a blockchain network?

Explain the role of a malicious node in attempting a double-spending attack in the blockchain network.

Why is it important for nodes in a blockchain network to extend the longest valid branch?

What are the three properties of a cryptographic hash function mentioned in the text?

What is the fundamental concept in blockchain technology that ensures all nodes agree on the state of the ledger?

What key technical challenge of decentralized e-cash relates to distributed consensus according to the text?

What are the two properties of a distributed consensus protocol mentioned in the text?

What is the role of distributed consensus in the context of Bitcoins?

What is the main challenge that a distributed consensus protocol aims to address in a network with faulty or malicious nodes?

How does blockchain technology enable Bob and Alice to agree on the current state of the system?

What specific information do Bob and Alice need to agree on in a blockchain transaction system?

Why is decentralization preferred in blockchain technology instead of relying on a single trusted arbiter?

What is the primary purpose of a block in a blockchain system?

How does a blockchain network prevent the modification of past records?

What is the significance of the initial state in a blockchain transaction system?

How do you ensure the 'real' or 'true' state of the data in a peer-to-peer network with untrusted peers?

Why was Blockchain considered unsuitable for systems requiring a high level of trust, such as money transfers?

In the context of blockchain technology, what is necessary for two parties, like Alice and Bob, to play an online game of chess?

What happens if Alice and Bob do not agree on the state of the chessboard in an online game?

How does blockchain technology enable participants like Bob and Alice to agree on the state of the system?

What is the significance of reaching distributed consensus in a decentralized network utilizing blockchain technology?

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