Questions tagged [transaction-verification]
The process in which every Bitcoin node checks every part of every Bitcoin transaction worldwide for conformance to standard rules and uses the complete history of all previous Bitcoin transactions to check that money being spent in a transaction has not previously been spent in any earlier transaction since the beginning of Bitcoin.
289
questions
1
vote
3
answers
239
views
Ironically, encryption is not an important part of bitcoin (?)
The above statement is taken out of a book which I've been reading: Mastering Bitcoin 2nd Edition.
...as its communications and transaction data are not encrypted and do
not need to be encrypted ...
- 111
1
vote
3
answers
618
views
What happens to transactions included in extinct or invalid blocks?
I have read that a block contains several transactions.
An attacker can forge fake a block.
The blockchain is safe because the system will choose and keep the longest chain.
So the fake block will ...
- 217
2
votes
2
answers
483
views
Is verification of a blockchain computationally cheaper than recreating it?
One of the advantages of cryptocurrencies like Bitcoin that is often repeated is how hard it should be to manipulate past transactions. The reason that is often stated is that you would have to re-...
- 123
0
votes
1
answer
63
views
How exactly do transactions work?
When I search for transaction in bitcoin I am able to find explanations which tell me that there are e.g. two persons A and B and A wants to tranfer a number of bitcoin to B. Imagine A wants to pay 2 ...
- 115
2
votes
1
answer
98
views
What does "Green address verification" mean in the context of transaction validation?
I am only new to Bitcoin and I would like to know what a "Green address verification" is. I have an Electrum wallet ver 3.3.6 and I think the term is being used in the context of faster transactions ...
0
votes
3
answers
258
views
Bitcoin transactions validation process
I have a general understanding of building blocks. But am hoping someone can fill in the details/gaps. Also, can you correct if something is not right? Thanks.
Scenario:
Bitcoin transactions are ...
- 137
0
votes
1
answer
60
views
How can I calculate/estimate how quickly a machine can verify transactions on the blockchain?
If I have some machine with particular specs in mind (processor/memory/bandwidth), how can I estimate how quickly that node can download and verify transactions? In a quick search I wasn't able to ...
- 1,569
2
votes
2
answers
89
views
Can anyone initiate a Blockchain transaction into the mining pool?
Let's say user A has public key P and corresponding private key P'. Can someone else initiate a transaction for public key P with some wrong private key, let's say P''? Once this goes to the memory ...
4
votes
1
answer
953
views
If I set assumevalid=0 after syncing the blockchain will Bitcoin Core go back and validate historical blocks?
I originally synced my node using the Bitcoin Core default assumevalid value. If I set -assumevalid=0 in bitcoin.conf and restart my node, will my node go back and validate historical blocks?
- 185
1
vote
1
answer
200
views
Following SegWit implementation, is BIP-146 signalling and implementation still on the docket?
Is BIP 146, which defines using the low S value, still on the docket to be signalled and implemented given that SegWit fixed the txid malleability issue by moving the witness outside the transaction? ...
- 7,348
1
vote
1
answer
133
views
Besides transaction validation, are there any other uses of the Script language in Bitcoin
Script's stack operations are used to validate signatures and scripts of transaction inputs and outputs. Is Script also used to validate block, network, or any other data?
Seem like there are a lot ...
- 385
0
votes
2
answers
436
views
Checking if a receiver has enough coins
How do miners verify the blockchain transaction history to check if the sender has enough money if the address can be changed at any time?
1
vote
1
answer
230
views
How miner makes sure that a transaction he picked up from mempool is actually valid? [duplicate]
I have read and searched enough about the roles and responsibilities of miners here;
For example:
Does the miner first validate transaction before doing POW or he does not validate at all ?
Does a ...
1
vote
1
answer
132
views
Why are only specific transaction types accepted into the mempool?
In the Bitcoin Mainnet, only specific transaction types are accepted:
Bitcoin uses a scripting language to specify (and satisfy) the encumbrances, thereby allowing a whole host of transaction types....
- 179
3
votes
1
answer
203
views
Where is sum(vin) > sum(vout) check in Bitcoin Core?
I'm searching the function that validates a transaction according to Protocol rules - "tx" messages especially step 14 sum(vin) > sum(vout).
I found this interesting function CheckTransaction(...
- 133
0
votes
1
answer
215
views
Are transactions with the same ScriptSig a security problem?
For instance while looking at the transaction stack of my address, tracing it to exchanges I use, I came across this:
https://www.blockchain.com/btc/tx/...
1
vote
1
answer
2k
views
Indexing of transactions in the blockchain
Say we have transaction T(1) from many years ago, at block height 125001; then a new transaction T(2), consuming all the outputs from T(1), comes up around block height 568720 (that's Today). There's ...
- 113
0
votes
2
answers
81
views
Bitcoin checks and balances
When a new block is created, does each block need to be validated?
How does it differ from validating transactions?
Why miners would waste time validating transactions and blocks when they could ...
0
votes
1
answer
255
views
How to generate the digest from a raw bitcoin transaction for verifying signature of specific input?
I'm writing a stand alone process that needs to verify that a known UTXO is part of a new transaction with a valid signature.
Inputs [ UTXO, raw transaction, input_number ]
How do to I verify the ...
- 173
2
votes
1
answer
489
views
How can block time and block size be fixed when transaction volume is constantly increasing?
As I understand it the network rejects blocks over 1MB, and block hash difficulty is set after each block is created as to keep the block time close to 10min.
But if people are constantly joining ...
- 123
0
votes
1
answer
90
views
On blockchain scalability bottleneck
It is often said that the major bottleneck of blockchain scalability is that every (honest) node has to process every (valid) transactions. But the progress of a blockchain is how fast it reaches ...
- 103
0
votes
1
answer
116
views
Validate 3rd party transactions on Bitcoin-qt debug window
Is there a way to validate a random transaction via transaction ID on the debug window? Imagine I want to validate a transaction between 2 wallets I don't control.
I believe its possible to check if ...
- 385
0
votes
2
answers
277
views
P2SH secure spending. How?
Maybe my question is stupid, but
imagine that I'm trying to spend inputs from p2sh.
For example, p2sh scriptPubKey looks like:
OP_SHA256 ...
- 173
1
vote
1
answer
992
views
Why are the inputs of Bitcoin transactions signed?
This is my understanding of what a transaction looks like:
inputs:
input0:
txid: <funding tx0 TXID>
outputID: <output ID of UTXO in the funding tx0>
scriptSig: <...
- 27
5
votes
2
answers
428
views
How are blocks verified?
I see in the bitcoin wiki there is something called "script" which compiles down to some bytecode to be run by a very very basic virtual machine.
Does this mean that each block is actually just a ...
2
votes
1
answer
61
views
Is it posible to create a transaction output that can either be reddemed by privK of Addr A or by privK of Addr B AFTER certain blockheight?
I am thinking about how to secure your Bitcoin savings.
One idea I had was to create sort of a "backup" address B for an address A which stores the bitcoins. So what I want to achieve is that you ...
- 41
0
votes
1
answer
70
views
When do scripts executed?
Can anyone explain when does a script executed exactly? There are several information about "how scripts are executed" but no information about "when".
- 337
4
votes
3
answers
22k
views
Bitcoin transaction fee calculator
I'm new to bitcoin. Is there a website where I can type amount of BTC I want to send and type of transaction - Urgent, Normal, Economic and they give me the price in USD how much the transaction fee ...
- 41
0
votes
2
answers
352
views
How does blockchain technology handle the actual transaction data?
My understanding of how a transaction is secured in blockchain, especially in bitcoin, is that the output of transaction data is locked to the recipient's address (a shorter version of his public key)....
- 121
1
vote
1
answer
67
views
May it be a risk to use the origin as the change address?
Follow scenario: The balance of my origin address is 1 BTC. I'm transfering 0.1 BTC to a shop where I'm buying some goods, my wallet returns the change to my origin address. Now my origin address has ...
0
votes
1
answer
711
views
How do you get Sibling Hashed Values in a Merkle Proof?
Merkle Proofs are one of the main reasons that people attribute Bitcoin's use of Merkle Trees. But I'm struggling to understand how these work in practice. Please explain theoretically as well as ...
- 65
0
votes
3
answers
151
views
Reject or refuse to relay a valid transaction
Under the Bitcoin protocol, how much control does a node have on how a transaction is dealt with once received? Can a node reject a valid transaction? Can a node refuse to relay a valid transaction to ...
2
votes
3
answers
1k
views
When a node receives a transaction, what steps does it do to verify that transaction?
I know that it verifies the block hash by calculating each hash of the contiguous blocks in order, but does it verify the balance of each wallet sending the transactions as well? And does it do the ...
- 23
0
votes
1
answer
464
views
How miners validate each transaction?
There is a locking to each transaction? and sender also attach his digital signature to that transaction?
When this transaction comes to miners then how they validate this transaction is valid.
...
- 117
1
vote
2
answers
1k
views
how do miners verify transaction without identifying sender and receiver?
I mean in satoshi paper we read sender and receiver have limited anonymity.
By keeping public keys anonymous. The public can see that someone is sending an amount to someone else, but without ...
- 51
1
vote
1
answer
66
views
What is the correct use of the term "validating"?
First, in the Bitcoin context what does validating mean?
Second, is it incorrect to say something like
" the average time it takes to validate a block by the network is 10 minutes."
The way, I ...
- 21
2
votes
1
answer
2k
views
How to verify if it's Segwit Transaction or not?
Segwit Usage chart example : https://p2sh.info/dashboard/db/segwit-usage?orgId=1
I Would like to verify by checking tx if it's Segwit Transaction or not.
Is there any simple method to do this?
...
- 369
15
votes
1
answer
5k
views
What are the advantages of Schnorr vs ECDSA?
I understand that Schnorr signatures provide an improvement on ECDSA in that they are a fixed 64 bytes instead of the longer ECDSA sig format, however, I don't see how this is an advantage over ECDSA ...
- 253
2
votes
1
answer
82
views
Transaction vaildation
I have understood that miners validate the transactions by checking for double spends and that the transaction was not already confirmed, what I don't understand is how the miners are able to do this ...
- 71
2
votes
2
answers
135
views
What happens to rejected transactions (i.e double spend or invalid transactions)?
Do they get put in an orphaned block or not get put into any block at all?
- 77
5
votes
1
answer
155
views
Can corrupted unspent transaction outputs list leading to higher than expected fee be seen as an actual threat?
Let's imagine, an attacker managed to corrupt your local list of unspent transaction outputs (or a blockhain explorer you use) in a way that certain unspent transaction outputs seem to hold less coins ...
- 213
1
vote
1
answer
1k
views
Is a miner running a full node?
Is a miner just running a full node that is connected with the mining hardware? Or is there such thing as a miner node? Does it use additional software for transaction selection?
Thanks in advance!
- 185
0
votes
2
answers
871
views
P2SH signature verification in python
I am trying to understand and verify P2SH script by writing a python code to parse real transaction in blockchain. I have chosen below Transaction randomly.
TxID: ...
3
votes
2
answers
339
views
Is the UTXO set size important for non-mining full nodes?
Recently, I have seen a lot of development effort going into techniques for different ways of storing, pruning UTXO/TXOs. The main motivation cited is reducing block orphaning, which is mining-...
- 1,296
1
vote
1
answer
261
views
Satoshi Nakamoto's Transaction Chain Diagram Hash Value
In Satoshi Nakamoto's diagram:
The line coming from transaction block 1 and going the the "Hash" label in transaction block 2 appears to represent the hash of the entire transaction block (Owner 1's ...
- 367
2
votes
1
answer
226
views
Merkle Tree computations
Assume I am running a mini-blockchain that is I only have blocks' headers but no transactions. I wish to verify a transaction of a third party. For that I need the transaction's path to the Merkle ...
- 35
1
vote
2
answers
349
views
Merkle root Vs transaction hashes
It is not clear to me, why not we can simply store transaction hashes in a block header instead of storing the Merkle root. I understand that storing transactions' hashes will slightly increase size ...
- 35
1
vote
2
answers
67
views
Why can't Bitcoin transactions be stopped like SWIFT transfers?
As I know, most BTC hacking happens at digital wallet (but in blocks). I believe the hacker use normal BTC transaction to transfer those stolen BTC to other block addresses. Why can't we stop the ...
- 11
2
votes
1
answer
107
views
Why this transaction is valid?
The before transaction is @ https://www.blocktrail.com/tBTC/tx/da58f6688b0727a7f1bf3eec899099bde1f18b9c7099f9d2c79556db238e623d
Its output script is "OP_HASH160 ...
- 21
2
votes
1
answer
72
views
Bitcoin core verification keeps reseting
I'm trying to run Bitcoin Core service with full node verification on Ubuntu on testnet and it keeps resetting. The verification increases to 0.3, then resets to 0, for 2 days already. Debug.log ...
- 207