Bitcoin - Study guides, Class notes & Summaries

What are 3 accelerators of the FinTech Industry? correct answers 1. Loss of consumer trust in financial institutions 2. Free software, cloud computing, connectivity 3. Generation change - Millennials What is the difference between FinTech and TechFin? correct answers FinTech is a financial service company using technology (LendingClub), while TechFin is a tech company providing some financial services (Apple) What are the 6 "flavors" of FinTech? correct answers 1. P2P lenders (ie. Lend...

Question 1 How are the blocks in Bitcoin linked chronologically to one another? Blocks are connected by every subsequent block including the hash of the previous block header hash in its block header. True or False? Changing a transaction in a block also changes the block header. True Miners adjust the value of the __________________ field, located in the block header, so that the hash of the block header will be less than or equal to the difficulty target of the network. nonce Where...

1.2: U.S. v. Ulbricht (p. 11) - 1.2: U.S. v. Ulbricht (p. 11) - Ulbricht created the Silk Road (black market) o People paid through bitcoin, Ulbricht argued that bitcoin cannot form the basis of money laundering and was property not a financial transaction o He supported his argument by noting that the IRS treats virtual currency as property not monetary instruments · Court rejected his theory that bitcoin was not a financial transaction because bitcoins carry value and act as a medium o...

law - a body of rules of action or conduct prescribed by controlling authority and having binding legal force -creates duties, obligations, and rights that reflect accepted views of a given society jurisprudence - the science or philosophy of law counsel - (attorney) business owners and managers work with counsel in one of two formats: 1. in-house counsel 2. law firms statutory law - The body of law created by the legislature and approved by the executive branch of state and federal gov...

BLOCKCHAINS AND SMART CONTRACTS There are several kinds of blockchains, and to provide more general insights in this project we take a broad view. For example, the Bitcoin system is a ‘public blockchain’, which allows unfettered public participation in both its operation and use. Other well-known systems, such as the Ethereum [16] blockchain, are similar in this regard. It is possible to use a separate instantiation of the Bitcoin or Ethereum computer programs to operate a b...

LIBF Unit 1 Questions and answers, 100% Accurate, Graded A+ Define the term citizen. - -Someone who has the legal right to live in a country; Who decides who becomes a citizen? - -The government decide who becomes a citizen. What are societal norms? - -These are certain ways citizens expect people in the society in certain ways. Explain multi-cultural citizens and society. - -The UK is a multicultural society, this means there are a variety of influences. Outline the role and du...

MIS 301 Exam 1 Question and answers rated A+ 2024 In a set of steps called SLAM (Scan, Label, Apply, Manifest), and taking only about 2 minutes, packed boxes are weighed, and the software does an additional check to see if the weight is what's expected. - correct answer True Amazon's industrial strength cloud computing offerings are better known by the acronym _____________. - correct answer AWS Bitcoin transactions are recorded in a public ledger known as the ____________. - correct...

What was bitcoin created to solve? correct answersThe double spending problem, transaction costs, and a trust based system. CPU Majority and proof of work (SHA-256) are correct answersimportant processes in verification and cryptography. Is the longest chain always the correct one? correct answersYes What does the hashing of old blocks into a merkle tree help do? correct answersSave disk space and memory. What is binomial random walk? correct answersThe race between the honest chain ...

Blockchain - A distributed and decentralized ledger that records and verifies transactions and ownership, making it difficult to tamper with or shut down. Miners - Provide verification and time-stamping of transactions in a blockchain. What about bitcoin makes it less useful as a currency? - Its volatility Compliance - Ensuring that an organization's systems operate within required legal constraints, and industry and organizational obligations. Integrated Development Environment - Used ...

Question 1 How are the blocks in Bitcoin linked chronologically to one another? Blocks are connected by every subsequent block including the hash of the previous block header hash in its block header. True or False? Changing a transaction in a block also changes the block header. True Miners adjust the value of the __________________ field, located in the block header, so that the hash of the block header will be less than or equal to the difficulty target of the network. nonce Where...