Who has the most money in the network now

Assignment Help Financial Accounting

Reference no: EM133432589

Question: Use a single Word document to record and submit your answers.
Let's play a bitcoin simulation game here!
First, go through the demo (only 12 steps). You have learned enough to understand this transaction model very quickly.
After finishing the demo, refresh the webpage, and skip the demo.
Add another 4 peers to the network,

and make sure they are connected to the network.

The added names will be random; you should have 6 peers in total.

Use the first peer (#1 Santoshi) to mine a new block (without any other transaction).
Use the last peer (#6) to mine a new block (without any other transaction).
Take a screenshot of those two new blocks; paste it into your Word document.

Do transaction: the first peer (#1) sends the second peer (#2) 30 dollars, with 1 dollar as the fee, using the 100 dollars received from mining.

Do transaction: the last peer (#6) sends the fifth peer (#5) 50 dollars, with 2 dollars as the fee, using the 100 dollars received from mining.
Use the third peer (#3) to mine a new block including the two unconfirmed transactions from the memory pool.

Take a screenshot of this new block; paste it into your Word document.

Do transaction: the third peer (#3) sends the fourth peer (#4) 2 dollars, with 1 dollar as the fee, using the 1 dollar from fees and 2 dollars from fees.

Do transaction: the fifth peer (#5) sends the fourth peer (#4) 15 dollars, with 2 dollars as the fee, using the 50 dollars received from the previous transaction (from the last peer #6).

Use the second peer (#2) to mine a new block including the two unconfirmed transactions from the memory pool.
Take a screenshot of this new block; paste it into your Word document.

Who has the most money in the network now? Provide a screenshot in Word.

Who has the least money in the network now? Provide a screenshot in Word.

Reference no: EM133432589

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