EXAM QUESTIONS -
CRYPTOCURRENCIES AND
BLOCKCHAIN APPLICATIONS
CORRECT 100%
Explain and illustrate the difference between an accounting based ledger and the
transaction based ledger used by the bitcoin network? - ANSWERAn answer
What are the key characteristics of a hash function? - ANSWER
What is the role of hash-pointers linking the different blocks of the blockchain? -
ANSWER
Why are the bitcoins now lost? - ANSWER
Remember our definition of a commitment. In pseudo-code it works as follows:
com := commit(msg, nonce)
Verify (com,msg,nonce) is a function that returns true if com:=commit(msg,nonce)
and false otherwise.
What is a nonce? - ANSWER
A commitment must be hiding and binding. Explain those two concepts in the context
of the commitment. - ANSWER
What is a hash puzzle and how does it create value in a digital framework? -
ANSWER
Explain the key characteristics and concepts of digital signatures in the context of
bitcoin? - ANSWER
Who maintains the ledger of transactions in the bitcoin network? - ANSWER
Who has authority over which transactions are valid in the bitcoin network? -
ANSWER
Who creates new coins/bitcoins? - ANSWER
How is consensus reached in the bitcoin network? - ANSWER
CRYPTOCURRENCIES AND
BLOCKCHAIN APPLICATIONS
CORRECT 100%
Explain and illustrate the difference between an accounting based ledger and the
transaction based ledger used by the bitcoin network? - ANSWERAn answer
What are the key characteristics of a hash function? - ANSWER
What is the role of hash-pointers linking the different blocks of the blockchain? -
ANSWER
Why are the bitcoins now lost? - ANSWER
Remember our definition of a commitment. In pseudo-code it works as follows:
com := commit(msg, nonce)
Verify (com,msg,nonce) is a function that returns true if com:=commit(msg,nonce)
and false otherwise.
What is a nonce? - ANSWER
A commitment must be hiding and binding. Explain those two concepts in the context
of the commitment. - ANSWER
What is a hash puzzle and how does it create value in a digital framework? -
ANSWER
Explain the key characteristics and concepts of digital signatures in the context of
bitcoin? - ANSWER
Who maintains the ledger of transactions in the bitcoin network? - ANSWER
Who has authority over which transactions are valid in the bitcoin network? -
ANSWER
Who creates new coins/bitcoins? - ANSWER
How is consensus reached in the bitcoin network? - ANSWER
