Day1Assignment.txt

Blockchain Assignment 1-
Q1. What is your understanding of Blockchain?

Ans:- Blockchain is a series of block which contain immutable data, which is decentralized and encrypted. Blockchain contain block number, transaction record, and previous block signature.

Q2. What is the core problem Blockchain trying to solve?

Ans:- Below are the problem of trying to solve by Blockchain:

Authenticity
Security
The need for a powerful third party for trust

Q3) What are the few features of the Blockchain that you will mention?

Ans:- Below are the Few Features of the Blockchain:

Data that Blockchain contains has transparency.
No hacking is possible
Blockchain i is a form of immutable data
The data is unchangeable
It's a tamper-proof type of network.
It's a highly secured form of network.
Due to the non-envolvement of Middlemen, it reduces Cost.

Q4) What all things Block contains?

Ans: Block contains the below information :

Block Number
Transaction record
Previous Block signature

Q5) How is the verifiability of Blockchain being attained?

Ans: Blockchain contains the Hash key. Each block contain u unique hash key and to link with another block they have previous block hash key. If any changes happen in Block the hash will change and the block got detached from the link. This can check with another blockchain in a distribution channel and can easily identify whether the data is tempered or not