Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Z: Blockchain > L9 - Tezos Basics > Flashcards

L9 - Tezos Basics Flashcards

1
Q

motivation of Tezos

A

Overcoming the overarching problems of the first generation blockchains like Bitcoin.

By design, Tezos embraces long-term upgradability, open participation, collaboration, and smart contract safety.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Three main solutions Tezos offers

A
  • On-chain governance
  • Verifiable smart contract
  • self-amendment process
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is Tezos’ Sybil control mechanism?

A

Liquid Proof-of-Stake (LPoS)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What are the benefits of LPoS?

A
  • low up-front investment required

- participation through delegation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

How are the validators called in Tezos?

A

bakers. There is one block proposer baker and there are a proportion of bakers that are also selected as validators at each block

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

baking

A

act of signing and publishing blocks to Tezos.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

min tez for baker?

A

6000

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

How is a baker selected?

A

Randomly selected to propose new block proportionally to their stake.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What happens in case of misbehaviour of a baker?

A

Their stakes get slashed.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What do participants of the network do that don’t want to become bakers?

A

Delegate their coins to bakers. In return they delegators get shares of the bakers’ earned revenue.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Are consensus protocols the same as Sybil control mechanisms?

A

No. Sybil control mechanism protect the consensus protocol.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What does the consensus protocol deal with?

A

With reaching an agreement regarding the common version of the truth.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

How can nodes in the network determine the right chain?

A

Consensus protocols

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Main two types of consensus protocols

A
  • Nakamoto Consensus: picks the longest, heaviest chain e.g. Bitcoin (50% validation is sufficient)
  • -> liveness first as the network never stops operating
  • Byzantine Fault Tolerance (BFT) Consensus: picks the block which has more than 2/3 of the validators signatures
  • -> deterministic finality
  • > safety first as the network only operates when there is full synchrony between the nodes
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

How is the consensus protocol called in Tezos?

A

Tenderbake

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What type of consensus does Tenderbake have?

A

BFT-style with deterministic finality. Finality is reached after two blocks (1 min)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

What does Tenderbake ensure?

A

No parallel block production that can eventually revert transactions.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What happens in an asynchronous period?

A

When the bakers cannot sync their action, the network degrades until the issue is fixed

19
Q

What does Michelson do?

A

Michelson is a functional language to execute formal verifications on smart contracts. Utilizes mathematical proofs. The certified compiler helps to compare the human-readable version of a smart contract with the deployed version.

20
Q

Three properties of Michelson

A
  • statically typed stack language (no variables, but high-level primitives such as maps, sets)
  • efficient calculation of gas costs and fast contract execution
  • readability through the expressive representation of a smart contract on the blockchain.
21
Q

Two most popular smart contract development languages in Tezos?

A

LIGO and SmartPy.

22
Q

What happens when a contract written in LIGO is compiled?

A

Then we have a Michelson file. The certified compiler can be used by third parties who want to ensure that compiled versions of the high-level code match the low-level code deployed on the blockchain.

23
Q

Where does the governance process take place in Ethereum

A

off-chain (changes are then achieved through forks)

24
Q

What are the issues of forks?

A
  • issues regarding coordination in a decentralized ecosystem and favoring decisions based on herd behavior (loud minortiy)
25
Q

What can happen with a hard fork?

A

Replay attacks can occur

26
Q

How are changes decided on with on-chain governance?

A

Decided based on votes of the stakeholders (token holders)

  • changes can automatically be activated by all nodes in the network
  • proposals can be evaluated based on merit rather than herd behavior.
27
Q

Where does the governance process take place in Ethereum

A

off-chain (changes are then achieved through forks)

28
Q

What are the issues of forks?

A
  • issues regarding coordination in a decentralized ecosystem and favoring decisions based on herd behavior (loud minortiy)
29
Q

How long does one amendment cycle take?

A

1 month and 5 days

30
Q

What are the five periods in the amendment process?

A
  1. Proposal period
  2. Exploration vote period
  3. Cooldown period
  4. Promotion vote period
  5. Adoption period
31
Q

What is the amendment process?

A

On-chain governance is implemented in an amendment process

32
Q

What happens in the exploration period?

A
  • bakers vote on the most voted proposal from the proposal period
  • they can vote “YAY”, “Nay”, or “Pass”
  • if more than 80% of the bakers vote “yay” and a dynamically determined quorum is met, then the proposal continues to the cooldown period. If not then the amendment process reverts to the beginning
33
Q

How long does one amendment cycle take?

A

1 month and 5 days

34
Q

What are the five periods in the amendment process?

A
  1. Proposal period
  2. Exploration vote period
  3. Cooldown period
  4. Promotion vote period
  5. Adoption period
35
Q

What happens in the proposal period?

A
  • bakers submit proposals that contain the hash of the source code of an amendment and vote proportional to their stake
  • each baker can submit 20
  • -> most voted on proposal continues to the exploration period.
36
Q

What is the quorum?

A

Qt+1 = quorum required in prev voting period0.8 + participation in prev voting period.2

Qt+1 = .8 * Qt + .2* qt

Qt = quorum in t
qt = actual participation in t
37
Q

Cooldown period

A

the community analyzes and discusses finer points of the proposal and developers perform additional tests

38
Q

Did Tezos always have BFT consensus?

A

No, before they had Nakamoto consensus

39
Q

Adoption period

A

buffer for bakers and developers to adopt new protocol version

40
Q

How many amendments where there in Tezos?

A

9

41
Q

Did Tezos always have BFT consensus?

A

No, before they had Nakamoto consensus

42
Q

Name improvement proposal standard in Tezos?

A

TZIP

- toke agnostic

43
Q

use cases of tezos

A
  • DeFi
  • NFTs
  • DAO
  • SSI
44
Q

Drawbacks of Tezos

A
  • fierce competition with other smart-contract enabled platforms
  • no widespread commercial adoption

Z: Blockchain (14 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions