CBP Bitcoin Basics and Cryptography 2

Question 1

What hashing algorithm does Bitcoin use for its proof-of-work mining process?

Accepted Answer

SHA-256

Answer

Bitcoin uses SHA-256 (Secure Hash Algorithm 256-bit) as the basis for its proof-of-work mining algorithm.

Question 2

Which elliptic curve does Bitcoin use for its public-key cryptography?

Accepted Answer

secp256k1

Answer

Bitcoin uses the secp256k1 elliptic curve, which was chosen for its efficiency and security properties.

Question 3

What is the purpose of a Bitcoin address compared to a public key?

Accepted Answer

A Bitcoin address is a hashed, encoded form of the public key for shorter, safer sharing

Answer

A Bitcoin address is produced by applying SHA-256 and RIPEMD-160 to the public key, then Base58Check encoding, providing a shorter and more error-resistant identifier.

Question 4

What does 'immutability' mean in the context of the Bitcoin blockchain?

Accepted Answer

Once data is confirmed in the blockchain, it is computationally infeasible to alter it without redoing all subsequent proof-of-work

Answer

Bitcoin's immutability comes from chained cryptographic hashes and cumulative proof-of-work, making retroactive changes computationally prohibitive.

Question 5

In Bitcoin's Script language, what does OP_CHECKSIG verify?

Accepted Answer

That a given signature is valid for the provided public key and transaction hash

Answer

OP_CHECKSIG pops a public key and signature from the stack and verifies the ECDSA signature against the transaction hash.

(CBP) Certified Bitcoin Professional Practice Test

(CBP) Certified Bitcoin Professional Practice Test

CBP Bitcoin Basics and Cryptography 2