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Saturday, September 5, 2015

Bitcoin and Cryptocurrency Technologies - Quiz 2 Problem 4

Proof of work is a way to: (check all that apply)

Let nodes compete for the “right” to create blocks (Correct)
Make it impossible for one miner to act like many different miners (Wrong - see below)
Select nodes in proportion to computing power (Correct)

I got that choice wrong for the first time. I was not entirely sure about the act like part. If it is about showing up with many addresses, that yes, of course it is possible. But he won't be able to act like many miners in the sense of getting more blocks mined.

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