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Your instinct is correct: a full node can lie-by-omission to a light client and deny them proof that a transaction was included in a block. This is a well-documented vulnerability of SPV wallets and the only mitigation really is to connect to more peers (you only need one "honest" peer). This problem is also somewhat addressed by BIP157 aka "...


3

When a transaction is made, miners compete to validate it and create a hash. Miners will compete to confirm the transaction in a block. 'Validation' of a transaction is completed by each and every full node on the network. Notice the difference between confirmation and validation: Validation checks to see if the transaction is valid according to the network ...


3

When you say "transactions", I assume you mean "transaction output". It is literally not possible to have a transaction output that is larger than the transaction size limit. Otherwise the transaction containing that output would not be in the blockchain. Rather I think what you are looking for is that the output script is larger than the ...


2

Is it necessary to build [Exchange Traded Funds] over block-chain technology? No. in case the answer is no, why? Imagine an ETF based on stocks in gold mining companies. Those companies own open-cast mines and rock-crushing machines. An exchange can buy and sell shares, or funds based on those shares without directly themselves operating any open-cast ...


2

When you run lightning on top of bitcoin and want to add(transfer) funds, your lightning client will generate a special P2SH address for you to send to that is both hash time-locked and multisig. These features of the P2SH address allows lightning to do what it does. Yes there will be fees associated with this transaction, just as any other on-chain ...


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This is normal, especially on testnet. What you are seeing are known as stale blocks (or also incorrectly as orphan blocks). These occur when miners complete a block at around the same time so some nodes receive the two blocks in a different order. The conflict resolves when the next block is found. You will commonly see stale blocks on testnet due to ...


2

How does bitcoin prevent accidental forks like this? It doesn't. Bitcoin make little effort to prevent forks at a technical level, instead relying on the fact that when a fork does happen, it can be resolved by waiting for additional blocks and picking the chain with the most work. As Pieter mentioned, the mining mechanism itself prevents long term forks. ...


2

How is data in a blockchain stored So far as I know, the Bitcoin specifications do not mandate any particular structures for storing the Bitcoin transaction-journal (blockchain) in persistent storage (e.g. Hard disk). Any Bitcoin node is free to store the transaction-journal in whatever form is convenient. For example it might be decomposed as a set of ...


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Generally each transaction is validated when it is added to the mempool of the node. This happens when the node first sees the transaction, it doesn't wait til it is added to a candidate block for mining. The candidate block for mining would be formed out of the transactions already in the mempool - those which have already been validated by the node. If ...


1

Soft forks are generally used to upgrade an existing protocol in a backward compatible way. If you were to create a new coin you would need to hard fork the Litecoin protocol. How you do that depends on your motivation. If you just want to create a new coin to make money I would strongly advise against it. There are thousands of altcoins that have no unique ...


1

Let's say I transfer 2 bitcoin to Anuj account The Bitcoin network doesn't have accounts as such. You typically transfer money to a Bitcoin "address" given to you by the intended recipient. how much time maximum it will take to reflect in Anuj's account It depends on how busy the Bitcoin network is and on the transaction fee chosen by the sender....


1

How do I withdraw from an address You don't. You can withdraw cash, denominated in a currency such as Bitcoin, from an account you have as a customer of an official or unofficial financial institution like a bank, currency-exchange or financial-trading broker etc. You can arrange that the withdrawn amount be paid to a Bitcoin "address" you ...


1

When you set up a trade on Shapeshift, you presumably pick which currency you wish to purchase, and what currency you pay with. You would then provide your withdrawal address to be credited in the purchase. Given that you have received an email that tells you that your purchase went through, I would expect that the bitcoin were sent to the bitcoin address ...


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You can use one of the services mentioned in this pull request: https://github.com/lnbook/lnbook/commit/0441c1889552509334d4f633a6aec47d887f6e0b https://boltz.exchange/ Atomic Swaps https://bitflash.club/ Joining multiple Lightning transactions into a single on-chain transaction https://ln.bitfinex.com/ Famous crypto exchange that supports LN deposits and ...


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At its core, a blockchain is a linked list with a twist. In a normal linked list, each item points to the previous item (these are the "links" which allow us to traverse back through the list.) In a computer, these links are references to memory locations, but in a blockchain, they are references to the hashes of preceding blocks. Most importantly, ...


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A block contains more than one transaction. Look here: https://www.blockchain.com/btc/block/0000000000000000000c01fc2e09f4aa22244d2b6fc2de793a3da3c782c544a4 There you see all transactions from a specific block. Validating a transaction is easy. Miners compete for finding the nonce for a block. So they dont mine a transaction they mine a block. Thats the ...


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I think if you add two more steps at the start then it makes more sense. Transaction creation. (when User A sends coin to user B) Transaction verification. The transaction is transmitting to the neighbouring nodes and those nodes verify the transaction. If the transaction is valid those nodes transmit it further to their neighbouring nodes in the network. ...


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Here you can paste the transaction hash and get the transaction details of Testnet transactions. https://testnet.xrpl.org/


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