50 Questions
What is a key characteristic of a centralized system?
All users believe in a single trusted arbiter defining the system state.
In a client-server network, where is the data typically stored?
On servers for clients to access.
What issue arises in a centralized system due to a failure in the central authority?
Loss of the entire system's functionality.
Which of the following is a problem associated with centralized systems?
A single point of failure.
How does a centralized system typically handle transaction requests in a banking environment?
A single trusted arbiter executes transaction requests and updates balances.
What technology allows Bob and Alice to agree on the state of the system in the text?
Blockchain
How do Alice and Bob ensure they agree on the present state of their online chess game according to the text?
By agreeing on the history
What is the purpose of Blockchain technology for transactions between Alice and Bob?
To agree on the state of their transaction system
Why do Alice and Bob not want a single trusted arbiter of the state of the world according to the text?
To achieve decentralization and avoid single points of failure
What is a key characteristic of a block in Blockchain technology?
A sequence of hash-chained records
What is the purpose of a cryptographic Hash-function?
To guarantee the integrity of data
Which property ensures that finding the original message from its hash value is infeasible?
Preimage Resistant
What is the key technical challenge faced by decentralized e-cash like Bitcoin?
Achieving distributed consensus
In the context of Bitcoins, what does distributed consensus ensure?
Confirmation that a transaction is valid and agreed upon by all nodes
What defines a valid block in a blockchain network?
The consensus among nodes that the block is valid
What is the main purpose of broadcasting new transactions to all nodes in a blockchain network?
To ensure all nodes have the most up-to-date transaction information
How do nodes express their acceptance of a new block in a blockchain network?
By including the block's hash in the next block they create
What is the primary mechanism used to protect against invalid transactions in a blockchain network?
Cryptographic techniques enforced by consensus
In a blockchain network, how does the probability of double-spending decrease?
Exponentially with the number of confirmations
What is the main way in which protection against double-spending is achieved in blockchain networks?
Through cryptographic verification and consensus mechanisms
What is a key problem of centralized systems according to the text?
Single point of failure
What is the purpose of a trusted arbiter in a centralized system like a banking system?
Defines the current state and records initial state and the sequence of changes
Where is the data typically stored in a client-server network?
On servers
What is a major disadvantage of centralized systems in terms of power?
Concentration of power
How does a bank handle transaction requests in a centralized banking system?
Bank executes the transaction request if you have money, and updates account balances
What is the main challenge faced by decentralized e-cash systems like Bitcoin?
Protection against double-spending
Explain how nodes express their acceptance of a new block in a blockchain network.
Nodes express their acceptance by including the block's hash in the next block they create.
What is the main way in which protection against double-spending is achieved in blockchain networks?
Protection against double-spending is achieved purely by consensus.
How does the probability of double-spending decrease in a blockchain network?
The double-spend probability decreases exponentially with the number of confirmations.
What is the purpose of broadcasting new transactions to all nodes in a blockchain network?
The purpose is to ensure all nodes have the latest transaction history.
What defines a valid block in a blockchain network?
A valid block contains only valid transactions with unspent outputs and valid signatures.
How do honest nodes typically handle a double-spend attempt in a blockchain network?
Honest nodes will extend the longest valid branch, ignoring the double-spend attempt.
What technology allows Bob and Alice to agree on the state of the system in the text?
Blockchain
How does a blockchain ensure that past records cannot be modified?
By chaining hash records
Why do Alice and Bob not want a single trusted arbiter of the state of the world according to the text?
To avoid a single point of failure or control
What is the primary purpose of Blockchain technology for transactions between Alice and Bob?
To agree on the state of their transaction system
What is the key characteristic of a block in Blockchain technology?
Immutable
How do Alice and Bob ensure they agree on the present state of their online chess game according to the text?
By agreeing on the history
What are the key properties that a cryptographic Hash-function satisfies?
Message Digest, Preimage Resistant, Collision Resistant
What is the main focus of decentralization in Bitcoin according to the text?
Maintaining the ledger, transaction validation authority, creating new bitcoins, changing system rules, acquiring exchange value for bitcoins
What is the key technical challenge faced by decentralized e-cash like Bitcoin?
Distributed consensus
In the context of Bitcoins, what does distributed consensus ensure?
All nodes agree on the state of the ledger
Define the distributed consensus protocol mentioned in the text.
Protocol must terminate, all honest nodes agree on same value proposed by an honest node
What is the purpose of a cryptographic Hash-function in the context of blockchain technology?
Guaranteeing data integrity
How do participants in a blockchain system agree on the current state of the system?
By agreeing on the history of changes.
In a blockchain system, what functionality do users get without having a real trusted arbiter?
Users get the functionality of a trusted arbiter.
What is necessary for Alice and Bob to play a game of chess online?
They need to agree on the initial state and on changing states.
Why can Alice and Bob not play a game of chess online if they don't agree on the state of the board?
They need to agree on the state of the board to play.
What is a key characteristic of a blockchain system?
Decentralization.
How do you ensure a blockchain system can't easily be corrupted by bad peers?
By requiring agreement among peers on the history of changes.
Explore the relationship between playing chess online and utilizing blockchain in distributed systems. Learn how Alice and Bob can ensure an accurate current state of the system through distributed technologies like blockchain.
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