Lecture 2 (easy)

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What is a key characteristic of a centralized system?

All users believe in a single trusted arbiter defining the system state. (correct)

Data is stored on servers with clients accessing it.

Decentralized protocol like SMTP is used.

There is no single point of failure.

In a client-server network, where is the data typically stored?

On external hard drives.

On the clients' devices.

On decentralized nodes.

On servers for clients to access. (correct)

What issue arises in a centralized system due to a failure in the central authority?

Loss of the entire system's functionality. (correct)

Enhanced system efficiency.

Decentralization of power.

Increased security measures.

Which of the following is a problem associated with centralized systems?

A single point of failure. Signup and view all the answers

How does a centralized system typically handle transaction requests in a banking environment?

A single trusted arbiter executes transaction requests and updates balances. Signup and view all the answers

What technology allows Bob and Alice to agree on the state of the system in the text?

Blockchain Signup and view all the answers

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 Signup and view all the answers

What is the purpose of Blockchain technology for transactions between Alice and Bob?

To agree on the state of their transaction system Signup and view all the answers

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 Signup and view all the answers

What is a key characteristic of a block in Blockchain technology?

A sequence of hash-chained records Signup and view all the answers

What is the purpose of a cryptographic Hash-function?

To guarantee the integrity of data Signup and view all the answers

Which property ensures that finding the original message from its hash value is infeasible?

Preimage Resistant Signup and view all the answers

What is the key technical challenge faced by decentralized e-cash like Bitcoin?

Achieving distributed consensus Signup and view all the answers

In the context of Bitcoins, what does distributed consensus ensure?

Confirmation that a transaction is valid and agreed upon by all nodes Signup and view all the answers

What defines a valid block in a blockchain network?

The consensus among nodes that the block is valid Signup and view all the answers

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 Signup and view all the answers

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 Signup and view all the answers

What is the primary mechanism used to protect against invalid transactions in a blockchain network?

Cryptographic techniques enforced by consensus Signup and view all the answers

In a blockchain network, how does the probability of double-spending decrease?

Exponentially with the number of confirmations Signup and view all the answers

What is the main way in which protection against double-spending is achieved in blockchain networks?

Through cryptographic verification and consensus mechanisms Signup and view all the answers

What is a key problem of centralized systems according to the text?

Single point of failure Signup and view all the answers

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 Signup and view all the answers

Where is the data typically stored in a client-server network?

On servers Signup and view all the answers

What is a major disadvantage of centralized systems in terms of power?

Concentration of power Signup and view all the answers

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 Signup and view all the answers

What is the main challenge faced by decentralized e-cash systems like Bitcoin?

Protection against double-spending Signup and view all the answers

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. Signup and view all the answers

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. Signup and view all the answers

How does the probability of double-spending decrease in a blockchain network?

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

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. Signup and view all the answers

What defines a valid block in a blockchain network?

A valid block contains only valid transactions with unspent outputs and valid signatures. Signup and view all the answers

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. Signup and view all the answers

What technology allows Bob and Alice to agree on the state of the system in the text?

Blockchain Signup and view all the answers

How does a blockchain ensure that past records cannot be modified?

By chaining hash records Signup and view all the answers

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 Signup and view all the answers

What is the primary purpose of Blockchain technology for transactions between Alice and Bob?

To agree on the state of their transaction system Signup and view all the answers

What is the key characteristic of a block in Blockchain technology?

Immutable Signup and view all the answers

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 Signup and view all the answers

What are the key properties that a cryptographic Hash-function satisfies?

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

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 Signup and view all the answers

What is the key technical challenge faced by decentralized e-cash like Bitcoin?

Distributed consensus Signup and view all the answers

In the context of Bitcoins, what does distributed consensus ensure?

All nodes agree on the state of the ledger Signup and view all the answers

Define the distributed consensus protocol mentioned in the text.

Protocol must terminate, all honest nodes agree on same value proposed by an honest node Signup and view all the answers

What is the purpose of a cryptographic Hash-function in the context of blockchain technology?

Guaranteeing data integrity Signup and view all the answers

How do participants in a blockchain system agree on the current state of the system?

By agreeing on the history of changes. Signup and view all the answers

In a blockchain system, what functionality do users get without having a real trusted arbiter?

Users get the functionality of a trusted arbiter. Signup and view all the answers

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. Signup and view all the answers

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. Signup and view all the answers

What is a key characteristic of a blockchain system?

Decentralization. Signup and view all the answers

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. Signup and view all the answers

Lecture 2 (easy)

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Questions and Answers

What is a key characteristic of a centralized system?

In a client-server network, where is the data typically stored?

What issue arises in a centralized system due to a failure in the central authority?

Which of the following is a problem associated with centralized systems?

How does a centralized system typically handle transaction requests in a banking environment?

What technology allows Bob and Alice to agree on the state of the system in the text?

How do Alice and Bob ensure they agree on the present state of their online chess game according to the text?

What is the purpose of Blockchain technology for transactions between Alice and Bob?

Why do Alice and Bob not want a single trusted arbiter of the state of the world according to the text?

What is a key characteristic of a block in Blockchain technology?

What is the purpose of a cryptographic Hash-function?

Which property ensures that finding the original message from its hash value is infeasible?

What is the key technical challenge faced by decentralized e-cash like Bitcoin?

In the context of Bitcoins, what does distributed consensus ensure?

What defines a valid block in a blockchain network?

What is the main purpose of broadcasting new transactions to all nodes in a blockchain network?

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

What is the primary mechanism used to protect against invalid transactions in a blockchain network?

In a blockchain network, how does the probability of double-spending decrease?

What is the main way in which protection against double-spending is achieved in blockchain networks?

What is a key problem of centralized systems according to the text?

What is the purpose of a trusted arbiter in a centralized system like a banking system?

Where is the data typically stored in a client-server network?

What is a major disadvantage of centralized systems in terms of power?

How does a bank handle transaction requests in a centralized banking system?

What is the main challenge faced by decentralized e-cash systems like Bitcoin?

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

What is the main way in which protection against double-spending is achieved in blockchain networks?

How does the probability of double-spending decrease in a blockchain network?

What is the purpose of broadcasting new transactions to all nodes in a blockchain network?

What defines a valid block in a blockchain network?

How do honest nodes typically handle a double-spend attempt in a blockchain network?

What technology allows Bob and Alice to agree on the state of the system in the text?

How does a blockchain ensure that past records cannot be modified?

Why do Alice and Bob not want a single trusted arbiter of the state of the world according to the text?

What is the primary purpose of Blockchain technology for transactions between Alice and Bob?

What is the key characteristic of a block in Blockchain technology?

How do Alice and Bob ensure they agree on the present state of their online chess game according to the text?

What are the key properties that a cryptographic Hash-function satisfies?

What is the main focus of decentralization in Bitcoin according to the text?

What is the key technical challenge faced by decentralized e-cash like Bitcoin?

In the context of Bitcoins, what does distributed consensus ensure?

Define the distributed consensus protocol mentioned in the text.

What is the purpose of a cryptographic Hash-function in the context of blockchain technology?

How do participants in a blockchain system agree on the current state of the system?

In a blockchain system, what functionality do users get without having a real trusted arbiter?

What is necessary for Alice and Bob to play a game of chess online?

Why can Alice and Bob not play a game of chess online if they don't agree on the state of the board?

What is a key characteristic of a blockchain system?

How do you ensure a blockchain system can't easily be corrupted by bad peers?

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