From 88caf5a889b8d47ae39b3833890215342c5b84b6 Mon Sep 17 00:00:00 2001 From: Rajnibhambri <68497339+Rajnibhambri@users.noreply.github.com> Date: Sun, 19 Jul 2020 14:49:25 +0530 Subject: [PATCH] Create Assignment1 --- Assignment1 | 31 +++++++++++++++++++++++++++++++ 1 file changed, 31 insertions(+) create mode 100644 Assignment1 diff --git a/Assignment1 b/Assignment1 new file mode 100644 index 0000000..c8a4726 --- /dev/null +++ b/Assignment1 @@ -0,0 +1,31 @@ +1. What is your understanding of Blockchain? +Blockchain is the mixture of distributed database & cryptography technology. It is ledger having transaction records which ensures security, transparency & decentralization. Blockchain is chain of blocks where each block has its own number, transaction record, previous block, signature & mining key. + +2. What is the core problem blockchain trying to solve? +There are 3 core problems: +i. Authenticity +ii. Security +iii. Need of third party trust + +3. What are the few features which blockchain will give u? +It has following features: +i. Verifiable +ii. Unchanged +iii. Tamper-Proof +iv. Immutable + +4. What all things does a Block Contain? +A block contain:- +i. Block Number +ii. Transaction Record +iii. Previous Block +iv. Signature +v. Mining Key + +5. How is the verifiability of Blockchain is been attained ? +Verifiability can be attained by +Block 1 +0 + new data = Key1 +Block2 +Key1 + new data = Key2 +& so on.