Dr. Chicken, a farmer who sells egg, would like to reward his client with his newly...

   

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Dr. Chicken, a farmer who sells egg, would like to reward his client with his newly created digital cash Eggcoin(EC). He plans to give 0.001EC to his client for every 50 eggs purchased. The ledger of Eggcoin (Table 2.1) is stored in a Dr. Chicken's desktop which he used to browse Internet daily. (20 marks) Date Customer Eggcoin's Balance 1-Jan-2021 2-Jan-2021 3-Jan-2021 10-Jan-2021 Peter Ricky John Ricky John Peter Table 2.1 0.001 0.02 0.3 0.021 0.31 0.003 d. Identify three potential problems/risks of Eggcoin. (6 marks) e. Dr. Chicken decided to adapt the blockchain technologies in managing the Eggcoin, what information must be kept in each block so that it has similar behavior as Bitcoin? Explain each field briefly. (6 marks) f. Assume Dr. Chicken has 100.0EC initially, give a transaction that include all the allocations of Eggcoin in table 2.1. (4 marks) g. Assume John would like to give 0.05EG and 0.07EG to Ricky and Peter respectively, give the corresponding transactions. (4 marks) Dr. Chicken, a farmer who sells egg, would like to reward his client with his newly created digital cash Eggcoin(EC). He plans to give 0.001EC to his client for every 50 eggs purchased. The ledger of Eggcoin (Table 2.1) is stored in a Dr. Chicken's desktop which he used to browse Internet daily. (20 marks) Date Customer Eggcoin's Balance 1-Jan-2021 2-Jan-2021 3-Jan-2021 10-Jan-2021 Peter Ricky John Ricky John Peter Table 2.1 0.001 0.02 0.3 0.021 0.31 0.003 d. Identify three potential problems/risks of Eggcoin. (6 marks) e. Dr. Chicken decided to adapt the blockchain technologies in managing the Eggcoin, what information must be kept in each block so that it has similar behavior as Bitcoin? Explain each field briefly. (6 marks) f. Assume Dr. Chicken has 100.0EC initially, give a transaction that include all the allocations of Eggcoin in table 2.1. (4 marks) g. Assume John would like to give 0.05EG and 0.07EG to Ricky and Peter respectively, give the corresponding transactions. (4 marks)

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