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Computer Security > Blockchain > Flashcards

Blockchain Flashcards

1
Q

Etherium

A

Ethereum is a decentralized, open-source blockchain platform that enables developers to build and deploy smart contracts and decentralized applications (DApps).

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2
Q

Bitcoin

A

Bitcoin is a blockchain system providing a mechanism for transferring
monetary assets from one person to another, substituting digital cryptographic signatures for a central authority to solve the identity, solvency and double spending problems.

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3
Q

Corda

A

Corda is a distributed ledger platform developed by R3 for businesses. It is designed specifically for financial institutions and other enterprises to record, manage, and automate legal agreements between parties.

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4
Q

Blockchain

A

The blockchain is a distributed, decentralized ledger that records all transactions made with a particular cryptocurrency. Each transaction is grouped together in a block, which is then linked to the previous block, forming a chain of blocks - hence the term “blockchain.”

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5
Q

Draw out a feature comparison table comparing THREE features of Bitcoin and Corda

A

Decentralization
Bitcoin: Decentralized, peer-to-peer network
Corda: Permissioned, distributed ledger platform

Consensus Mechanism
Bitcoin: Proof of Work (PoW)
Corda: Pluggable consensus mechanisms

Smart Contract Support
Bitcoin: Limited support for basic scripting language
Corda: Extensive support for smart contracts

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6
Q

Bitcoin transactions can map one input to many outputs

A

True

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7
Q

Bitcoin transactions can map many inputs to one output

A

True

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8
Q

Bitcoin transactions can map many inputs to many outputs

A

True

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9
Q

The public ledger is the blockchain

A

True

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10
Q

Two problems that cryptocurrency technology solves

A

Identity and double-spending.

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11
Q

How does cryptocurrency technology solves the identity problem

A

Enabling pseudonymous transactions, leveraging digital signatures for authentication, and facilitating decentralised identity management systems

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12
Q

How does cryptocurrency technology solve the double-spending problem

A

By leveraging blockchain technology, consensus mechanisms, and cryptographic techniques to securely record and validate transactions, ensuring that funds cannot be spent multiple times.

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13
Q

Preventing Tampering with Transactions

A

Employ a technique called “Blockchain.”

  1. Transaction Verification: Verify and bundle transactions.
  2. Block Formation: Form blocks with headers and transactions.
  3. Hashing the Block: Hash block contents for uniqueness.
  4. Linking Blocks: Reference previous block’s hash.
  5. Consensus Mechanism: Miners solve puzzles to add blocks.
  6. Verification and Consensus: Nodes verify and agree on block validity.
  7. Immutability: Changes in a block affect subsequent blocks.
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14
Q

Importance of Sender Public Key in Blockchain Transactions

A

Verification:
Ensures transaction authenticity.
Allows anyone to verify sender’s identity.

Security and Integrity:
Prevents tampering with transaction data.
Validates transaction digital signatures.

Non-Repudiation:
Provides irrefutable proof of sender’s involvement.
Prevents sender from denying transaction initiation.

Accountability:
Enforces participant accountability.
Transactions are transparent and traceable.

Cryptographic Security:
Used in digital signature creation.
Integral for verifying transaction authenticity.

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15
Q

Importance of Timestamp in Blockchain Transactions

A

To establish order, preventing double spending, ensuring transparency, and facilitating dispute resolution.

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16
Q

Detecting Tampered Transactions in Blockchain

A

By verifying its digital signature, performing consistency checks, comparing transaction hashes, enforcing validation rules, and relying on the network consensus mechanism.

17
Q

51% Attack on Blockchain

A

51% attack is a potential attack on a blockchain network where an entity or group of entities gains control of more than 50% of the network’s mining power, also known as hash rate. This majority control allows the attacker(s) to manipulate the blockchain ledger and potentially compromise its integrity.

18
Q

Connecting Blocks in Blockchain

A

Each block in the blockchain contains a header that includes metadata such as the block’s timestamp, nonce, and a reference to the previous block’s hash.
The reference to the previous block’s hash is achieved through a hash pointer. This hash pointer contains the cryptographic hash of the header of the previous block.

19
Q

Bitcoin Proof of Work Puzzle

A
  • Miners solve Proof of Work (PoW) puzzles.
  • Use cryptographic hash functions to find valid block hashes.
  • Process involves trial and error with nonce.
  • Validated blocks added to blockchain.
  • Miners rewarded with cryptocurrency.
  • Ensures security and integrity of blockchain.
20
Q

Blockchain Infrastructure Components

A

Node Software, Consensus Mechanism, Peer-to-Peer Network, Blockchain Protocol

21
Q

Blockchain Node Software

A

Essential for running nodes and facilitating communication, validation, and ledger maintenance.

22
Q

Blockchain Consensus Mechanism

A

Protocol ensuring agreement on transaction validity and blockchain state, e.g., proof-of-work (PoW) in Bitcoin.

23
Q

Blockchain Peer-to-Peer Network

A

Facilitates communication and data sharing between nodes in the blockchain network.

24
Q

Blockchain Protocol

A

Defines rules governing blockchain operation, including transaction verification, consensus, and block addition.

25
Q

Bitcoin and Central Banker Role

A

Decentralization:
Bitcoin operates on a decentralized network of nodes.
No single entity controls the entire system.

Blockchain Technology:
Utilizes blockchain for transparent transaction recording.
No central authority needed to validate transactions.

26
Q

Bitcoin and Identity Problem

A

Pseudonymity:
Bitcoin addresses are pseudonymous, not directly linked to real-world identities.
Users can transact without revealing personal information.

Public Ledger:
Transactions are recorded on a public ledger (blockchain) but are pseudonymous.
Users are identified by wallet addresses rather than personal information.

Wallet Privacy:
Bitcoin wallets can be generated and managed without personal information.
Users can create new addresses for each transaction, enhancing privacy.

Decentralization:
No single entity controls user identities or transaction data.
Decentralized nature ensures no central authority for identity verification.

27
Q

Bitcoin and Double-Spending Problem

A

Decentralized Consensus:
Bitcoin uses a decentralized network of nodes to validate transactions.
Nodes reach consensus on transaction validity through mechanisms like proof-of-work.

Public Ledger (Blockchain):
All confirmed transactions are recorded on a public ledger called the blockchain.
The blockchain is immutable and transparent, preventing double spending by ensuring each bitcoin can only be spent once.

28
Q

Bitcoin transaction

A

Bitcoin transaction contains information about the sender, recipient, amount of bitcoin transferred, and transaction metadata such as fees and digital signatures. This data is recorded on the blockchain, providing a transparent and immutable record of all transactions on the Bitcoin network.

29
Q

Blockchain in Education

A

Digital Credentials Creation:
Educational institutions issue digital credentials for academic achievements.
Credentials include student’s name, institution, type of credential, and issuance date.

Blockchain Record:
Digital credentials recorded as transactions on a blockchain network.
Blockchain ensures immutability and transparency of academic achievements.

Verification Process:
Employers and institutions verify credential authenticity by accessing the blockchain record.
Cryptographic techniques used to confirm legitimacy and prevent tampering.

Ownership and Portability:
Students own their digital credentials and can easily share them with relevant parties.
Streamlines processes such as job applications and admissions.

Privacy and Security:
Blockchain technology ensures privacy and security of credentials through decentralized storage and encryption.
Students control access to their credentials and grant verification permission as needed.

Computer Security (7 decks)

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