Bitcoin - Study guides, Class notes & Summaries

In a peer-to-peer blockchain network, __________________ can write the next block on the block chain. A. Certain pre-approved nodes B. smart nodes C. Nodes with advanced Computers D. Any Node correct answers D. Any Node Any data that is stored on a block is _________________________ A. Updated regularly B. Visible to any other node on the network C. Limited in terms of privacy D. Curated afterwards by an individual node correct answers B. Visible to any other node on the network __...

Question 1 How are the blocks in Bitcoin linked chronologically to one another? Blocks are connected by every subsequent block including the hash of the previous block header hash in its block header. True or False? Changing a transaction in a block also changes the block header. True Miners adjust the value of the __________________ field, located in the block header, so that the hash of the block header will be less than or equal to the difficulty target of the network. nonce Where...

1.2: U.S. v. Ulbricht (p. 11) - 1.2: U.S. v. Ulbricht (p. 11) - Ulbricht created the Silk Road (black market) o People paid through bitcoin, Ulbricht argued that bitcoin cannot form the basis of money laundering and was property not a financial transaction o He supported his argument by noting that the IRS treats virtual currency as property not monetary instruments · Court rejected his theory that bitcoin was not a financial transaction because bitcoins carry value and act as a medium o...

BLOCKCHAINS AND SMART CONTRACTS There are several kinds of blockchains, and to provide more general insights in this project we take a broad view. For example, the Bitcoin system is a ‘public blockchain’, which allows unfettered public participation in both its operation and use. Other well-known systems, such as the Ethereum [16] blockchain, are similar in this regard. It is possible to use a separate instantiation of the Bitcoin or Ethereum computer programs to operate a b...

MIS 301 Exam 1 Question and answers rated A+ 2024 In a set of steps called SLAM (Scan, Label, Apply, Manifest), and taking only about 2 minutes, packed boxes are weighed, and the software does an additional check to see if the weight is what's expected. - correct answer True Amazon's industrial strength cloud computing offerings are better known by the acronym _____________. - correct answer AWS Bitcoin transactions are recorded in a public ledger known as the ____________. - correct...

blockchain - Correct Answer series of block Blockchain v Bitcoin - Correct Answer Blockchain = underlying technology Bitcoin = famous application that uses it Bitcoin - Correct Answer went over 10,000 for the first time underlying premise of blockchain (problems b4 blockchain that make blockchain valuable) - Correct Answer what do you think of trust? in theory its good, but in the real world it stinks. every time you log in to a website, there is trust ppl have inequitie...

law - a body of rules of action or conduct prescribed by controlling authority and having binding legal force -creates duties, obligations, and rights that reflect accepted views of a given society jurisprudence - the science or philosophy of law counsel - (attorney) business owners and managers work with counsel in one of two formats: 1. in-house counsel 2. law firms statutory law - The body of law created by the legislature and approved by the executive branch of state and federal gov...

Block - correct answer A block is an individual transaction or piece of data that is being stored within the blockchain. Blockchain - correct answer A blockchain is a continuously growing list ("chain") of records ("block"), called blocks, which are linked chronologically and secured using cryptography. Blockchain Network - correct answer The blockchain network and blo...

What Can a Blockchain Do? - Answer Financial institutions have financed the disruption of countless industries over the last 30 years; they have an idea of what a revolutionary technology can do to static incumbents. So, to stay ahead of change, banks have been proactive in setting up R&D labs, building test centers and establishing partnerships with blockchain developers to fully understand the revolutionary potential of the technology. Financial institutions were the first to dip their f...

Blockchain - A distributed and decentralized ledger that records and verifies transactions and ownership, making it difficult to tamper with or shut down. Miners - Provide verification and time-stamping of transactions in a blockchain. What about bitcoin makes it less useful as a currency? - Its volatility Compliance - Ensuring that an organization's systems operate within required legal constraints, and industry and organizational obligations. Integrated Development Environment - Used ...