Podcast
Questions and Answers
What is the primary purpose of cryptographic hash functions in Bitcoin?
What is the primary purpose of cryptographic hash functions in Bitcoin?
- To ensure the integrity of the ledgers (correct)
- To prevent double spending
- To provide full anonymity to users
- To enable offline payments
What is the term for the process of miners competing to find a hash value lower than a target value?
What is the term for the process of miners competing to find a hash value lower than a target value?
- Proof of work (correct)
- Bitcoin halving
- Proof of stake
- Digital signatures
What is the maximum size of a block in the Bitcoin blockchain?
What is the maximum size of a block in the Bitcoin blockchain?
- 1 MB (correct)
- 10 MB
- 50 MB
- 100 KB
What is the purpose of the 'nonce' value in a block?
What is the purpose of the 'nonce' value in a block?
How often is a new block added to the Bitcoin blockchain?
How often is a new block added to the Bitcoin blockchain?
What is the total amount of Bitcoin that will be mined?
What is the total amount of Bitcoin that will be mined?
What is the main benefit of a decentralized system like Bitcoin?
What is the main benefit of a decentralized system like Bitcoin?
What is the purpose of digital signatures in Bitcoin?
What is the purpose of digital signatures in Bitcoin?
What is the relationship between the blockchain size and the number of blocks?
What is the relationship between the blockchain size and the number of blocks?
What is the term for the event that occurs every 4 years in Bitcoin?
What is the term for the event that occurs every 4 years in Bitcoin?
What is the role of a 'hash puzzle' in Bitcoin?
What is the role of a 'hash puzzle' in Bitcoin?
What is the primary function of a node in the Bitcoin network?
What is the primary function of a node in the Bitcoin network?
What is the purpose of the 'difficulty' value in Bitcoin?
What is the purpose of the 'difficulty' value in Bitcoin?
