Linked Questions

0 votes
1 answer

Help understanding the blockchain [duplicate]

I am trying to better understand the fundamentals of the BLOCKCHAIN. I am not technical and am hoping someone can offer up an explanation in LAY TERMS. Thanks in advance.
Bitnewbie63's user avatar
0 votes
2 answers

is every Block of blockchain is connect to each other? [duplicate]

like as we create a new block , so it will connected to existing Blockchain or it will create a new blockchain?
Kriti Joshi's user avatar
1 vote
1 answer

Where can one find the best explanation of the blockchain? [duplicate]

Sorry if these questions seem stupid but after a lot of research I still feel rather lost and confused !! I understand what is bitcoin and have a fairly good understanding of the basic blockchain idea ...
MFJC's user avatar
  • 111
1 vote
0 answers

Is bitcoin client really downloads the full transaction info? [duplicate]

I started learning bitcoin and found this wiki: And there is this statement: When you run the client it will connect to other nodes and start downloading ...
Fun Coder's user avatar
122 votes
5 answers

Why is 6 the number of confirms that is considered secure?

Why is 6 is the number of confirmations that is considered secure? I haven't found any mathematical explanation or otherwise that explains why it is 6 and not 5 or 7. Is there a historical reason for ...
osmosis's user avatar
  • 5,529
78 votes
3 answers

How is difficulty calculated?

Can anyone explain me in the plain English how difficulty is calculated. I have a very approximate understanding that it is calculated based on the amount of hash power in all the bitcoin community ...
Salvador Dali's user avatar
41 votes
10 answers

I am new to Bitcoin, how can I get started?

I am new to both StackExchange and to the new online currency called Bitcoin. I understand what Bitcoin is and how it works, but I was wondering: how do you actually get started with Bitcoin? I have ...
PowerofMerlin's user avatar
60 votes
4 answers

What keeps the average block time at 10 minutes?

I've been told "the network" sets the difficulty level such that there will be one new block mined every ten minutes. I imagine the rich would instead prefer to keep difficulty as high as possible to ...
billpg's user avatar
  • 2,030
40 votes
4 answers

What are orphaned and stale blocks?

If I understand it right, a stale block is a block for which an earlier confirmation has been found and was accepted by majority of people. This block is considered invalid and is later never used. ...
Salvador Dali's user avatar
60 votes
3 answers

What are bitcoin "confirmations"?

When I receive bitcoins I see a certain number of "confirmations" in the client. What do these mean? Why do most sites make me wait for 6 "confirmations" before a purchase will go through?
lemonginger's user avatar
  • 5,432
34 votes
3 answers

What is an "unspent output"?

What is the meaning of the term "unspent output" in the Bitcoin protocol?
ripper234's user avatar
  • 26.6k
38 votes
2 answers

What is the coinbase?

I searched the bitcoin wiki and found references to coinbase, but no clear cut explanation of what exactly it is. I know that miners can tag their coinbases (that is how some sites tell who mined a ...
Andrew Burns's user avatar
6 votes
5 answers

Can you transfer Bitcoins from one address to another address directly without going through the web?

If you and a recipient both have a wallet on a flash drive, is it then possible to transfer bitcoins from one wallet to the other using a computer without going through the web? Example in life: "...
Alex's user avatar
  • 321
16 votes
3 answers

What is a nonce?

When I see the block info on blockchain, I see that there is a field named "nonce", I could not find any relevant information on web regarding what a nonce is. Please explain what a nonce is what is ...
GypsyCosmonaut's user avatar
9 votes
3 answers

How do miners detect double-spending?

Assuming I spent 1BTC, then waited a few months and then spent it again. How is this detected? Do the miners go through the entire blockchain to assure the coin was never spent before?
frmsaul's user avatar
  • 191
8 votes
2 answers

Where is my bitcoin balance stored in the blockchain?

This is possibly a duplicate but, since I am a Bitcoin dummy I cannot find it. Anyhow; as I understand (and I will make some assumptions here), a block in the blockchain contains one or more ...
Stefan's user avatar
  • 183
4 votes
2 answers

Since the blockchain is public, how can we see it?

The blockchain is a shared public ledger for Bitcoin. What does that mean exactly? Is it possible to see, publicly, all transactions? For every bitcoin a person owns, is he able to see all the ...
John Smith's user avatar
3 votes
3 answers

How does the blockchain work, explained in layman terms?

I did a lot of intensive research on how the Blockchain actually works. I understand the machinery but it's really difficult to explain this to a layman. Could someone provide the simplest of ...
Farhan Haque's user avatar
3 votes
2 answers

As transactions are getting increasingly slow and expensive, how can Bitcoin compete against newer better currencies? [closed]

If I understand correctly, every transaction needs new blocks to be created (mined), which is becoming increasingly hard, slow and expensive. Not mentioning the massive energy consumption, already ...
Dmitri Zaitsev's user avatar
4 votes
2 answers

Modifying data in existing blocks

NOTE: I am a Bitcoin newbie. Please excuse (and correct) any wrong terminology in this post. Can the transaction data in an earlier block be edited? Of course, it would break the verification of the ...
Ajoy Bhatia's user avatar
1 vote
1 answer

How many peers do you need to securely synchronize with the blockchain?

What is the minimum number of peers required to securely synchronize my local blockchain copy?
Noureddine's user avatar
3 votes
2 answers

What is the point of keeping transactions if they are hashed?

In the blockchain people keep saying that all of the transactions are listed. Then why are they hashed? What's the point of hashing them if you can't check the blockchain afterwards.
adam eliezerov's user avatar
4 votes
2 answers

What happen if some blocks are added simultaneously with same previous hash

In all of the blockchain samples that I see e.g. adilmoujahid, Savjee as I checked, they added previous Hash by creating a block. Suppose that, L is the current last block in a chain. Block A and ...
masoud2011's user avatar
4 votes
1 answer

Pairing pattern of txids in merkle tree

For constructing the merkle tree txids are paired and hashed. ¹ But how are these txids paired? Does it happen chronologically or is there a certain pattern of pairing?
Aliakbar Ahmadi's user avatar
2 votes
1 answer

Is the hash of the previous block included in the block header?

What the title says above, but for more clarification I am asking whether the hash of the previous block header is part of what is hashed to create the header of the new block? Like what are all the ...
James P.'s user avatar
  • 122
3 votes
2 answers

Difference between crypto coin vs crypto block?

I have several doubts about cryptocurrency when I started(bitcoin) reading about it. I google it around and it only added to more confusion. I am not able to understand the difference between a ...
Sreeraj Chundayil's user avatar
-2 votes
2 answers

how transactions of an address traced in BTC?

I'm a newbie, here is my understanding of how transactions are made and how we make sure how many BTCs an address own. if I didn't get it wrong, how many BTCs a address owned is confirmed by the whole ...
Kicky's user avatar
  • 1
-1 votes
2 answers

Complete Explanation of Mining [closed]

I have 6 miners, all with 3 R9 280x's. (Yes, not bitcoin mining, but there isn't a general mining stack site and it still uses cgminer so it's relevant) I've been working on getting them running ...
Mark Kramer's user avatar
4 votes
1 answer

What previously existing technologies made Bitcoin possible?

When watching a tutorial, they mentioned that Bitcoin is based off 4 or 5 technologies that existed for at least a decade before Bitcoin. Satoshi Nakamoto was the first person to combine them all into ...
tjr226's user avatar
  • 185
0 votes
1 answer

How to find values of Prev_Hash and Tx_Root Based upon the answer here, it seems there's values per block with each Prev_Hash and also Tx_Root There doesn't seem to be much documentation for how ...
Anthony's user avatar
  • 151

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