Structural Elements of Blockchains

The distinguishing factor between a blockchain and a normal database is that there are specific rules about how the data is ____________ the database.

Smart contracts are code that is ____________.

Smart contracts are usually created ____________, depending on the blockchain implementation.

A blockchain consensus mechanism, which filters any data received from untrustworthy blockchain nodes, is an attempt at solving the ____________ problem.

Byzantine Fault Tolerance (BFT) algorithms are a family of consensus algorithms that can tolerate faulty nodes behaving arbitrarily by enforcing a ____________ scheme, depending on the context.

In a BFT scheme of n-out-of-m, ____________ nodes need to be compromised for the whole system to fail.

For a BFT scheme to be effective, the method via which a member of the network casts a vote must be taxing on their system to prevent numerical abuse. For this purpose, ____________ are usually utilized.

A subject of much debate amongst the academic community, the scalability issue of blockchains is constantly researched upon. A recently proposed solution is the utilization of ____________ for migrating batches of transactions into the core blockchain.

The blockchain is built of several different types of ____________, each with a specific role to play within the ledger’s operation.

Smart contracts usually consist purely of software that, in legal terms, holds little to no extra value compared to traditional software. To amend this, Ricardian contracts exist that ____________ and render it enforceable in legal contexts.