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What other element is commonly associated with the Ethereum blockchain in Proposal B that is not part of the Bitcoin blockchain in Proposal A? a. hype b. smart contracts c. dumb contracts What would it take to alter a record in a way that was undetectable? a. change the record and update the corresponding hash and block header b. change the record and update the corresponding hash and block header and the block headers/previous block headers of all prior blocks c. change the record and update the corresponding hash and block header and the block headers/previous block headers of all prior blocks on all computers that have a copy of the blockchain QUESTIONS 8 - 10 RELATE TO BLOCKCHAIN APPLICATIONS Amazon (The real company, Amazon Inc [AMZN], htt s:/ance. ahoo.comf uote/amzn is considering its own blockchain and digital currency to improve its operations. Among the choices they must make are: I Whether to use separate chains for currency and tracking inventory/shipping. I Proof of Work vs. Proof of Stake structure I Private vs public ledger I Centralized vs Decentralized ledger Amazon considers calling its cryptocurrency ledger unit a \"Diana" (in honor of the mythical Amazonian 'Wonder Woman\"). One Diana is subdivided into smaller units called a \"Bezos.\" There is a concern about whether this unit should be pegged to $1.00 like a stablecoin, or allowed to uctuate based on market demand like Bitcoin. Amazon leadership believes this project will add considerable value to the rm if it can be implemented properly. Amazon hires you as a consultant to evaluate three options: Option A: Two chains, one for nancial management and the other for physical management. These two chains would be (a) Blockchain X, a private, centralized ledger to manage payments, and (b) Blockchain Y, a public, decentralized ledger to manage inventory and shipments. Option B: One chain which handles nancial management and physical management. The blockchain would be modeled similar to the ChainLink cryptocurrency in that it would use an ERC-ZO token, be based on Proof of Stake, and fully decentralized and public. Option C: One chain which handles nancial management and physical management. The blockchain would be modeled similar to the Ripple cryptocurrency, except it would be fully decentralized and public. This blockchain would use Proof of Work and not Proof of Stake. 8. What is the main rationale that the Amazon Diana network would have enormous value at launch? a. Amazon has signicant political influence b. Amazon already has a large network of potential users c. The cryptocurrency would only have value if the number of coins were capped at 21 million. 9. Among options B and C, what is the main weakness regarding inventory management and shipping? a. The integrity of the supply chain management system is only as good as the oracle collecting the real-world data b. One blockchain cannot simultaneously track money and packages c. A centralized network is typically more secure QUESTIONS 4 - 7 RELATE TO BLOCKCHAIN Donald, Mickey and Minnie are designing a blockchain application to manage automobile ownership by putting the title (the ownership document) on the blockchain. They understand that blockchain is a way to record information that is unchangeable, and are thinking about specific attributes that they think their blockchain application should have. There are two proposals under consideration: Proposal A: The blockchain uses bitcoin's design, is a "proof of work" system, but it uses "CarCoin" Tokens (CCT). Miners receive a registration fee. State governments can be miners also. Numerous copies of the blockchain exist on many computers. To ensure privacy, sensitive information is stored in hashes. Any authorized person can go to a website, enter information, and the input will be validated on the blockchain: Block Hash 92cf0de9fba 9009566caf09cd42cla77 Owner Betty Lou 24d036e327184ddc8a84e558aaa26a26 Owner SSN/DL# 1585867 207adf 496d5f20387f79f5afea32f542 Previous Owner Carla Jean c19b04372c8 8ede233006e7448bccede Prev. Owner SSN/DL 5856759 13aae2feb 60a949583ecf6f2eec4eel1 VIN Number 8675309JEN aa9f77b213dle218c985d3d2dc0e3648 Date of Sale 7 Dec 2016 lefe0feb0ef487da086b2f30be8ac5a State TX 77082 25186c592b24b9028cf901cf06562adb Amount CCT 5866 C4c4 4ea882acd57254clada09eala248 Amount USD 6000 4da5 f95e963769acded7179b3e2926d8 Registration Fee CCT 135 444665d6a4926ae6f0628cef5 fbea 735 Previous Block Hash 818fc4cfd84d2faa0151cl1514d9bf26 The Block Hash is the root hash of all the record hashes. The hash of the previous block is included in the new block, and is part of the new Block Hash To validate vehicle ownership, a person enters the record information and a hash is generated. If the generated hash is the same as the root hash, then the record is valid. Law enforcement will have access to all Merkle tree branches (not shown) and can therefore validate any two pieces of information. Proposal B: The blockchain uses ethereum's design, uses "proof of stake" and it also uses "CarCoin" Tokens (CCT). Validators can only be authorized state government employees. It will initially consist of many government agencies/offices. State governments are validators and receive a registration fee. Only state governments can be validators and therefore nodes. In all other respects, it operates like Proposal A. 4. What is a "51% attack"? a. a means of keeping the ledger safe b. it's like Storm Area 51 but with only about half the people c. gaining 51% of a network in order to (maliciously) change the rules 5. The main advantage that Proposal B has over Proposal A is: a. people like "free stuff" b. blockchain fixes everything c. it is resistant to a 51% attackIO. What is a main limitation of Option B? a. Proof of Stake systems can be interpreted as Securities under US law, adding a layer of regulatory complexity to the project b. Proof of Stake systems expend energy for unproductive uses c. Proof of Stake systems require consensus EXTRA CREDIT: QUESTION 11 RELATES TO YOUR OPINION. THERE IS NO INCORRECT ANSWER. HOWEVER, YOU MUST ANSWER THE QUESTION TO RECEIVE CREDIT. l 1. Do you consider Bitcoin to be a \"risky" asset or a \"safe\" asset? a. Risky b. Safe QUESTIONS 1 - 3 RELATE TO CRYPTOCURRENCY Reynolds & Company are a specialty consulting firm that traces cryptocurrency transactions. They have been hired by the Financial Crimes Enforcement Network (FinCEN) to track down a suspected money laundering operation. Scott Reynolds, the company's founder, has hired Antonia Marilina as a data analyst to evaluate blockchain ledger transactions on the bitcoin network. Some of this information is shown in Figure 1 and Figure 2. FIGURE 1 Hash 00000000000000000092b6ddfee778bf8675b4fOf292436bc6bb27678e3a023a Confirmations 205,001 Timestamp 2016-03-08 03:59 Height 401679 Miner F2Pool Number of Transactions 2,500 Difficulty 158,427,203,767.39 Merkle root 5d16aca06edeabbd626f6f2ec469546778080cae7eec03d7c2a34cce7dc3f254 Version 0x4 Bits 403,108,008 Weight 3,999,408 WU Size 999,852 bytes Nonce 2,426,466,150 Transaction Volume 45749.12460318 BTC Block Reward 25.00000000 BTC Fee Reward 0.54734913 BTCFIGURE 2 Hash bdb92ef1695f8ce6a897c2d2f537667f9ba647518200bd3457f4e21.. 2016-03-08 03:59 COINBASE (Newly Generated Coins) 1KFHE7w8BhaENAswwryaoccDb6qcT6DbYY 25.54734913 BTC Fee 0.00000000 BTC 25.54734913 BTC (0.000 sat/B - 0.000 sat/WU - 185 bytes) Hash a5044.. 2016-03-08 03:59 1497qyPJCjzQ37MagaFK2LQv3MVt2WPzHS 0.03458214 BTC 372SuQyS11gCtghi4VhhJkigBXAfzLtrdu 0.03358214 BTC Fee 0.00100000 BTC 0.03358214 BTC (529.101 sat/B - 132.275 sat/WU - 189 bytes) Hash a67296620e4702f39d7567eb34f9658df2e101393664b44884635.. 2016-03-08 03:59 1BF7Ebo5r7zivzCEDUZyxBAWn3UTq7UzYW 0.70000000 BTC 16XBEY7757qLFNCYZ3LwjiSNkiDF77FZf 0.69900000 BTC Fee 0.00100000 BTC 0.69900000 BTC (523.560 sat/B - 130.890 sat/WU - 191 bytes) Hash 31038bb1d61086be 2016-03-08 03:59 1CIJMAofTSKzYq50BqjPxKUrhGB7Skgx3G 0.11998335 BTC IMupUShLZvYUUq5jcNkuDF6eeigaMWAtUL 0.11898335 BTC Fee 0.00100000 BTC 0.11898335 BTC (520.833 sat/B - 130.208 sat/WU - 192 bytes) Hash cc9cb.. 2016-03-08 03:59 1BDfe908hQALjZpkkyNxhFs34pr7kecY 0.03990000 BTC 1A2UHWukQ1sjCEhCo4YhedgB7ritNNUH9W 0.02827840 BTC IMn6ssMuh4tDKpmhD48V9LmPDnLgNtNFv1 0.01062160 BTC Fee 0.00100000 BTC (444.444 sat/B - 111.111 sat/WU - 225 bytes) 0.03890000 BTC 1 . Why does the block hash start with so many zeros? a. it is the block reward for mining the block b. finding a nonce that creates a hash that starts with many zeros requires a lot of "work" c. it is coincidence 2. What is the typical fee per transaction in this block? a. 4,759 BTC b. 0.001 BTC c. 25 BTC 3. Why would somebody engage in "mining" a block? a. it is an easy way to counterfeit bitcoin b. it allows them to steal electricity c. they earn the fees and the block reward