Bitcoin Flashcards
1
Q
Bitcoin is decentralised or centralised?
A
Decentralised
2
Q
What does it mean that bitcoins are ‘decentralised’?
A
There’s no official central bank or entity that generates or transacts in bitcoins.
3
Q
Bitcoin is centralised or decentralised?
A
Decentralised
4
Q
All transactions require what sort of network?
A
Peer-to-peer
5
Q
The input and output of a hash function are called…
A
Input: message
Output: digest (or tag, or hash)
6
Q
The hash function is a … function.
A
deterministic
7
Q
What are four basic properties required of a cryptographic hash function?
A
- Computationally Efficient
- Collision Resistant
- Hides information about the message
- Well distributed (should look random)
8
Q
A good analogy to a hash function is a…
A
meat grinder
