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
0
votes
1
answer
889
views
Redeeming OP_SHA256 hash OP_EQUAL (Testnet) Tx
I created the following non-standard Tx on the Testnet3 network: 6b52c981e6814072db77cb755b2633cd126b4ca21501d18ab994531e17a4a813
{
hash: "...
- 5,278
1
vote
2
answers
5k
views
How can transactions be verified without the private key?
Trying to get my head around her royal Bitcoin here...
I understand that blocks of transactions are broadcast to the network, and that miners verify that the BC is 'spendable' by trawling the ...
- 115
1
vote
1
answer
93
views
Are transactions in the mined block validated by other nodes on the network? [duplicate]
After successfully mining a block, the block and the solution is broadcast to the network. The nodes on the network in turn verify the solution. Aren't transactions that belong to the broadcasted ...
- 295
10
votes
3
answers
4k
views
If Bitcoin transactions require ~10 min to clear, how can payments get recognized within seconds?
Bitcoin Monitor offers to issue a notification moments after a payment is sent to a Bitcoin address. Yet if Bitcoin transactions require ~10 min to get written into the blockchain and confirmed as ...
- 265
1
vote
1
answer
982
views
Input validation in transactions
I'm just writing a small essay about the basics of BTC and I ran into a small problem.
I know, that there are digital signatures in our bitcoins' earlier transactions (our transaction inputs) and in ...
- 13
4
votes
2
answers
547
views
Bitcoind transaction data verification
I find myself a victim of either my poor googling skills, or the lack of detail in the bitcoind docs.
I have a walletNotify script running on a full node that whenever a transaction to / from my ...
- 153
1
vote
1
answer
2k
views
Blockchain.info automatic transaction
On Sep 17 I wanted to transfer 0.001 BTC from one Blockchain.info account (bitcoin address 1BFFtYPgtaZUHujDqiehqSseZvuUzJQxki) to another Blockchain.info account (bitcoin address ...
- 113
2
votes
3
answers
965
views
How does the receiver of a transaction check the whole chain of ownership?
While reading Satoshi Nakamoto's paper on how bitcoin works, I got stuck on #2. In a chain of transactions, how can someone who has received the coin check the whole chain with just a signed hash of ...
- 21
3
votes
1
answer
772
views
Why does the Bitcoin core client use so much CPU time while synching?
I have always noticed the huge increase in cpu usage when I opened my client for the first time in a few days. I was wonder what this is from? I would imagine verifying all of the signatures of the ...
- 489
2
votes
1
answer
149
views
Is it possible that someone forks the chain?
I'm not sure I understood everything but all the clients always keep the longest chain, ok.
So, what happens if an evil person injects bad transactions in a block and successfully mine it (given the ...
- 81
4
votes
1
answer
1k
views
Transaction's maximum size
Is there a maximum size for any given transaction?
I just created this tx:
http://blockexplorer.com/testnet/tx/194173dcc07b396433d5725abe76d52b10d42ebd3d1d10b465429f87fee12a52
and although it ...
- 1,366
1
vote
1
answer
117
views
What is the chance of transactions being processed in different order that they are broadcast
Given I want to transfer bitcoin from A to B, and then from B to C. I broadcast two transactions to the network (with the same transaction fee), in order: A to B and then B to C. Is there any chance ...
- 207
2
votes
1
answer
2k
views
How to validate raw transactions using bitcoind and/or bitcoin-cli (preferably offline)?
I've been wanting to join in the fun on this Bitcoin transaction contest but while I'm comfortable enough working out the scripts themselves and playing with the web-based tools suggested, as a ...
- 105
3
votes
1
answer
263
views
Is there any way to send an output to a script which can then only be sent to one of two addresses?
Is the following scenario possible?
I want to send money to a script. This script will require knowing a private key to spend, as usual, but the script is only valid if the money is being sent to one ...
- 447
1
vote
1
answer
722
views
How do miners/clients prove a transaction is valid? [duplicate]
To prove a transaction is valid, you must prove that the source address has a balance at least as much as the transaction. How does one prove this in a performant manner? The block chain of bitcoin ...
- 1,130
2
votes
3
answers
157
views
When to check for confirmationsl
When monitoring incoming transactions for a web wallet, should I check for confirmations on a timer, e.g. every minute? Or should I check once every block by using blocknotify?
- 1,939
5
votes
1
answer
259
views
walletnotify and transaction malleability
To monitor inbound payments for a web wallet, I plan to use walletnotify to record the transaction IDs, then on each blocknotify I will check the number of confirmations for each pending transaction.
...
- 1,939
6
votes
4
answers
1k
views
Is it possible to add a transaction input to a transaction in the mempool?
Is it possible to add an input to a transaction that is in the mempool?
For example, if someone is paying 1 BTC to their friend, I can get the raw hex data of this transaction from the mempool before ...
- 1,132
3
votes
3
answers
236
views
What if the execution time for an alt coin script exceeds the block time?
I don't know when and how often a script is executed, but it seems to me that there would be a problem if a single script (or a sum of all scripts in a block) exceeds the time it takes to be included ...
- 12.7k
2
votes
1
answer
382
views
Verification of transaction once trasaction is broadcasted
I have few doubts regarding verification of transaction and am trying to find answers from last few days. I agree similar post exist in this portal but I am not getting satisfactory answer for my ...
- 23
2
votes
2
answers
233
views
mtgox failure... any implications for bitcoin/ecurrency protocol design?
last heard, estimates are Mtgox lost about ~$½B ... apparently the current bitcoin market cap is around ~$8B ie Mtgox failure roughly somewhere around 1/16th the entire market cap of bitcoin, a ...
- 205
2
votes
2
answers
323
views
Why aren't Bitcoin transactions processed and verified by normal Bitcoin clients?
My understanding is that the blockchain is exclusively built by miners. My question is, why isn't that verification done by every Bitcoin client - kinda like p2p file sharing programs allowed people ...
- 21
1
vote
1
answer
350
views
Who will verify any transaction when the upper bound to total number of bitcoins is reached? [duplicate]
I've read that there will be around 21 million BTCs. (How many bitcoins will there eventually be?)
Also, to my beginner understanding, it seems that miners verify the active transactions. (What are ...
- 133
-2
votes
1
answer
267
views
In layman's terms, can anyone explain to me how miners generate Bitcoins and process transactions at the same time? [duplicate]
I don't grasp how to the activities are tied together.
2
votes
1
answer
180
views
Cryptoissues? (stocks & bonds)
Are there any examples of cryptoequities or cryptoliabilities?
I've seen the cryptostocks site, but it doesn't look to be what I'm envisioning.
For simplicity's stake, please imagine a corporation ...
user5107
2
votes
1
answer
681
views
Are transactions verified in chronological order?
I've seen that blocks include timestamps which are updated "Every few seconds", but who updates the timestamps, and are the timestamps used to verify transactions in chronological order?
If a block ...
user5107
4
votes
1
answer
221
views
Exhaustive technical explanation of signing & verification
I apologize for such a noobish question and am ashamed that I'm not getting this yet, but I can't seem to put together all of the pieces. I've read every question I can find on the subject, the ...
user5107
1
vote
1
answer
125
views
Is a low difficulty insecure?
Please ignore the connection between difficulty & creation rates for the purposes of this question.
Can a difficulty be set so low that the security of transactions is compromised? In other ...
user5107
2
votes
1
answer
226
views
"Instantaneous" transaction verification?
Jan Moritz Lindemann graciously educated me that difficulty is used not only to regulate the creation rate of a cryptocurrency but also to allow for block propagation thus prevent orphaned blocks.
...
user5107
0
votes
1
answer
363
views
Authentificate myself as the sender of a bitcoin transaction [duplicate]
How can I prove my ownership of a tx's sending address to the receiver, assu?
I can not answer This question, but to help anyone out, reading this:
Since localbitcoin's signature verification is ...
1
vote
1
answer
471
views
Transaction verification
I run a 0-confirmation tool.
To track new transactions I use:
bitcoind getrawmempool
new transactions in new block not available in mempool (it seems I do not receive all transactions in mempool ...
- 13
0
votes
2
answers
2k
views
how to do address callbacks?
I'm building a webapp that needs to update account info and send a message when an account's address gets a deposit, and/or confirm withdrawals.
I'm not sure what the best way to do this is. Would ...
- 539
3
votes
1
answer
220
views
How are transactions verified to ensure only the eligible person can spend a Bitcoin balance?
I know each user has a public key and private key. The users signs the transaction with his private key and sends it to a Bitcoin address. What prevents me from claiming his coins? I read something ...
- 443
1
vote
1
answer
4k
views
What happens to transaction once all the blocks are mined?
Once all the bitcoin blocks are mined(21 million limit has been reached) then would calculating the nonce still be so power intensive since the reward at this point of time would only be the ...
- 443
5
votes
3
answers
2k
views
Do miners have to hold all the blocks in memory?
Running a miner node, one would have to verify transactions. This includes checking all the inputs of all the transactions.
Does this mean that a miner must hold all the block-chain in memory (...
- 355
8
votes
4
answers
18k
views
Why is mining necessary for the Bitcoin network/system? [duplicate]
I understand that a transaction is a record of 1+ Bitcoins being given from one party to another.
I understand that a block is a collection of unverified (pending) transactions that gets verified ...
- 287
14
votes
4
answers
21k
views
relationship between bitcoin miner and verification of transactions [closed]
Bitcoin miner mines a block, which can't be submitted to the network without proof of work. And the new block contains all of the new transactions. Hence the new block acts as a security measure, and ...
- 349
19
votes
1
answer
35k
views
How do nodes verify Bitcoin Transactions?
I am trying to understand the role played by various nodes in the Bitcoin Network in verifying the transactions that are taking place in real time. I think that I understand the process of Transaction ...
- 1,033
3
votes
1
answer
559
views
What are the requirements of a transaction being included in a block?
What are the requirements of a transaction being included in a block? How does a miner verify that a transaction meets such requirements?
- 2,433