QUESTION 6 You are thinking of creating a new cryptocurrency, and you want the block chain to have the following parameters: Average time per block: 50 min Initial block bounty: 26 coins Bounty adjustment: every 16 thousand blocks Bounty adjustment: every period, drop per-block bounty by 46%. Under these parameters, what is the total number of coins that will be created in your cryptocurrency? QUESTION 7 A bitcoin transaction has the following inputs and outputs: inputs (BTC) Outputs 1.43 2.66 4.86 3.55 3. 1.11 What is the miner fee that this transaction is paying? QUESTION 8 Imagine an attacker has amassed 27% of the network's hash power, and is looking to trick someone by double spending a 3-confirmation transaction. He sends 10btc to the recipient, recipient waits for 3 confirmations, and sends the attacker some other cryptocurrency in exchange. Now the attacker creates an alternative transaction that spends the same bitcoins to himself instead, and has to create a block containing his double-spend transaction, as well as more blocks on top of that first one, in order to create a "longest chain' containing his double spend. What is his probability of succeeding? Enter answer in percents, accurate to two decimal places. QUESTION 6 You are thinking of creating a new cryptocurrency, and you want the block chain to have the following parameters: Average time per block: 50 min Initial block bounty: 26 coins Bounty adjustment: every 16 thousand blocks Bounty adjustment: every period, drop per-block bounty by 46%. Under these parameters, what is the total number of coins that will be created in your cryptocurrency? QUESTION 7 A bitcoin transaction has the following inputs and outputs: inputs (BTC) Outputs 1.43 2.66 4.86 3.55 3. 1.11 What is the miner fee that this transaction is paying? QUESTION 8 Imagine an attacker has amassed 27% of the network's hash power, and is looking to trick someone by double spending a 3-confirmation transaction. He sends 10btc to the recipient, recipient waits for 3 confirmations, and sends the attacker some other cryptocurrency in exchange. Now the attacker creates an alternative transaction that spends the same bitcoins to himself instead, and has to create a block containing his double-spend transaction, as well as more blocks on top of that first one, in order to create a "longest chain' containing his double spend. What is his probability of succeeding? Enter answer in percents, accurate to two decimal places
