In this assignment, we will go over the basic concepts in Ethereum. All questions should be answered concisely. There is no minimum word count, so don’t write any filler. A longer answer will not guarantee more points given. Bullet points are acceptable but they have to be readable.

You can find answers from the slides or Google, but they have to be in your own words.

Submission guidelines: Copy all questions over and answer them. Your choice of program doesn’t matter but make sure you export as a PDF.

GitHub Classroom invite for HW1: https://classroom.github.com/a/oGIwXppv

Deadline: Sep 1, 2022 16:00 PST

1) General Blockchain Concepts

1. What is a blockchain? Describe in your own words.
2. Why is there a size limit imposed on each block?
3. Describe at least 3 properties of SHA256.
4. What happens when someone tries to tamper with a block in the past?
5. What is required for someone to take over a blockchain network?
6. What is the double-spending problem?
7. What is a private key? What is a public key? How are they related?
8. What are digital signatures used for? How can it be verified?
9. List 3 reasons why someone shouldn’t use blockchain technology.

2) Ethereum Concepts

1. How is an account system different from a UTXO system?
2. What is the base (smallest) currency unit in Ethereum?
3. What is an account nonce used for?