Recorded On The Bitcoin
Recorded On The Bitcoin latest news, images, analysis about Blockchains consist of a series of individual blocks, arranged in chronological order based on the order of transactions. There are two parts to the information contained in a block. The first part consists of the header elements: information about the location and other data related to the transactions contained … See more
FAQs for Recorded On The Bitcoin
At 7:25, why must alice spend all of her coins and ask for some back? Why can't she just send the co...
She only has 3 inputs: 25, 20 and 20. They must all be spent or else there would be less than 50 which she wants to send. Each input can only be sp...Read more
what if no Bitcoins are assigned to the miner for the transaction. Could it happen that the transact...
Yes. I've tried it once before. Most wallets will stop broadcasting such transaction after some time and return it to the sender. If the transactio...Read more
If a miner must review the entire blockchain to validate that Alice has the bitcoins she represents,...
Each node keeps an index of unspent transaction outputs. When a new transaction or block comes in that index is referenced to find the appropriate...Read more
How do the digests of the previous transactions (D_C, D_D and D_T) guarantee that those transactions...
Bitcoin miners have the entire record of all transactions, so when they receive a new transaction they check that the inputs to the new transaction...Read more
The transaction block chain has to be stored somewhere. Will it not become insanely large over time?...
Miners would tell every node on the network about their new blocks, and each node will then store the blockchain on their own hard drive. The bitco...Read more
If I buy a single Bitcoin in 2013 and decide to save it for 100 years, will it expire? Will the 2113...
There is no expiration date. Yes, your transaction entry is always a part of the "chain." Coins are associated with bitcoin wallets, so the way to...Read more
Are miners people or automated software on a computer? What if we have a transaction fee of 1 Bitcoi...
Miners are people who are using tools to mine bitcoins. Those tools are automated software and miners basically just sit and watch their bitcoins i...Read more
Maybe getting ahead of the series here, but it's not ACTUALLY typical that a transaction sends bitco...
Thank you for point this out. Tou are absolutely correct. I was loose in terms of what an actual bitcoin identifier is (i.e., hash of a public key...Read more
How would you acquire your very first bitcoin?
Buy it on an exchange, sell goods and services for bitcoin, or go to a bitcoin faucet.Read more
Does it have to be a transaction fee for the miner? Wouldn't it work without it? And who decides how...
Bitcoin miners act like auditors in the bitcoin system by adding transaction (blocks) to the transaction block chain (thereby legitimizing the chai...Read more
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