Sending transactions in Blockchain / Solidity - Cheat Sheet & Quick Revision

Recall & Review

beginner

What is a transaction in blockchain?

A transaction is a record of value transfer between two parties on the blockchain. It usually involves sending cryptocurrency or data from one address to another.

beginner

What information is typically required to send a transaction?

You need the sender's address, recipient's address, amount to send, and a digital signature to prove ownership of the sender's funds.

intermediate

Why do transactions require a digital signature?

A digital signature proves that the sender owns the funds and authorizes the transaction. It prevents others from spending your cryptocurrency without permission.

intermediate

What is a nonce in a blockchain transaction?

A nonce is a number used once to keep transactions unique and prevent replay attacks. It usually counts how many transactions the sender has made.

beginner

What happens after you send a transaction to the blockchain network?

The transaction is broadcast to nodes, verified, and then included in a block by miners or validators. Once confirmed, the transaction is permanent and visible on the blockchain.

What is the main purpose of a digital signature in a blockchain transaction?

A To hide the sender's address

B To encrypt the transaction data

C To speed up the transaction

D To prove ownership and authorize the transaction

A digital signature proves that the sender owns the funds and authorizes the transaction.

Which of the following is NOT typically part of a blockchain transaction?

A Sender's address

B Sender's private key

C Amount to send

D Recipient's address

The sender's private key is used to create the digital signature but is never included in the transaction itself.

What does the nonce in a transaction help prevent?

A Replay attacks

B Network congestion

C Transaction fees

D Double spending

The nonce keeps transactions unique and prevents replay attacks.

After sending a transaction, what is the next step before it is confirmed?

A It is automatically confirmed

B It is deleted from the sender's wallet

C It is broadcast to the network nodes

D It is encrypted

The transaction is broadcast to nodes for verification and inclusion in a block.

What does it mean when a transaction is confirmed on the blockchain?

A It is permanently recorded and visible on the blockchain

B It is waiting to be signed

C It is still in the sender's wallet

D It has been canceled

Confirmation means the transaction is included in a block and permanently recorded.

Explain the steps involved in sending a transaction on a blockchain network.

Think about what happens from making the transaction to it being recorded.

Why is a nonce important in blockchain transactions and how does it work?

Consider how the blockchain avoids duplicate or repeated transactions.