4.3. ExercisesΒΆ
These questions are created to help you refresh your information on this chapter.
What is the composition of a Bitcoin block header? Explain why the
different fields are there.
What is the data of the Bitcoin blockchain? What is its composition?
Briefly explain the UTxO model
What is Script?
How does a full node verify that a UTxO is unspent?
How is the miner rewarded for creating a new block in Bitcoin?
Describe the difference between a Custodial and Non-Custodial wallet?
How does Bitcoin create new Bitcoin tokens?
Bill just lost his JBOK wallet. Bill says its no big deal and that
he can recreate it. Is Bill correct? If not what type of wallet is recoverable?
Briefly describe how a Bitcoin transaction is created, broadcast and confirmed.