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Self Test 1 - Introduction to Bitcoin - CS251P (
To maximize your learning, go through Lab 1 and submit answers to the questions below before the 1/11 class. This will help ensure you understand the basic concepts that will help you build fun Bitcoin apps. If you have any problems, please join
and ask in the private #stanford-cs251p channel (DM @21binns or @21justin to be added).
What's your Stanford email address?
Step 1: Read the original paper
Who wrote the original paper about Bitcoin?
Step 2: Set up your Bitcoin Computer
Approximately how big is the blockchain as of early 2016?
When you ran `21 status` to create your wallet and 21 account, what username did you select? (If you don't remember, you can run the following command at any time: 21 status)
How many satoshis do you get each time you run 21 mine? (If you don't remember, run the command again.)
Fill in your Stanford email and run the following command (if you get an error about your balance, run `21 mine` and try again): 21 buy sms +14084383755 '
I sent the SMS message using the 21 CLI
Step 3: Introduction to Bitcoin
On average, how often is the Bitcoin blockchain updated?
After each transaction
About once 1 minute
About once every 10 minutes
About once an hour
About once a day
How much does a miner currently receive in Jan 2016 for each block they mine? (The block subsidy)
1 bitcoin (100 million satoshis)
5 bitcoins (500 million satoshis)
10 bitcoins (1 billion satoshis)
25 bitcoins (2.5 billion satoshis)
50 bitcoins (5 billion satoshis)
What is a Bitcoin wallet?
A single private key that lets you spend bitcoins.
Software that lets you store multiple private keys and spend their corresponding bitcoins
A tool for exploring the blockchain
A full node that validates blocks created by miners
Step 4: Interactive introduction to Bitcoin
In what year did Satoshi Nakamoto create the Genesis Block, the first Bitcoin block?
Which two things constitute a block?
A block header
A miner fraud proof
One or more transactions
The username of the miner
What is the SHA256 hash of "Stanford"? echo Stanford | sha256sum
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