Lecture 2 (medium)

<p>Dependency on server availability</p> Signup and view all the answers

<p>Single point of failure risk</p> Signup and view all the answers

<p>Collect new transactions into a block</p> Signup and view all the answers

<p>Including its hash in the next block they create</p> Signup and view all the answers

<p>Double-spend probability</p> Signup and view all the answers

<p>Consensus mechanism</p> Signup and view all the answers

<p>Confirmation threshold for finality</p> Signup and view all the answers

<p>To ensure the accuracy of the transaction history between them.</p> Signup and view all the answers

<p>Ensuring decentralization and eliminating single points of failure.</p> Signup and view all the answers

<p>The current bitcoin balance in each of their accounts.</p> Signup and view all the answers

<p>It introduces a single point of failure that can be compromised.</p> Signup and view all the answers

<p>Blockchain provides immutability and security for historical data.</p> Signup and view all the answers

<p>Verifying the integrity of data</p> Signup and view all the answers

<p>Preimage Resistance</p> Signup and view all the answers

<p>Ensuring all network nodes agree on the state of the ledger</p> Signup and view all the answers

<p>Achieving distributed consensus</p> Signup and view all the answers

<p>By having all honest nodes agree on a proposed value</p> Signup and view all the answers

<p>Concentration of power</p> Signup and view all the answers

<p>Single point of failure</p> Signup and view all the answers

<p>Past records cannot be modified</p> Signup and view all the answers

<p>Nodes reach a common decision through communication and verification</p> Signup and view all the answers

<p>Risk of transaction reversal</p> Signup and view all the answers

<p>Single trusted arbiter</p> Signup and view all the answers

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

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

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

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

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

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

<p>Message Digest, Preimage Resistant, Collision Resistant</p> Signup and view all the answers

<p>Distributed Consensus</p> Signup and view all the answers

<p>Distributed Consensus</p> Signup and view all the answers

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

<p>Ensuring agreement among all nodes</p> Signup and view all the answers

<p>Ensuring agreement on a common value</p> Signup and view all the answers

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

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

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

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

<p>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.</p> Signup and view all the answers

<p>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.</p> Signup and view all the answers

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

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

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

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

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

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