New answers tagged consensus
1
In a nutshell, mining solves the problem of achieving a globally agreed ordering of transactions and selection of one of several incompatible transactions.
Here's the problem that needs a solution:
If I have 10 Bitcoin and I simultaneously introduce to two distant parts of the network a transaction that gives 10 Bitcoin to Alice and a transaction that gives ...
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It's valid but it's a miner writing wrong data, e.g. changing a transaction address to his own or changing a 3 btc transaction to 30 (while the wallet holds 50). The hashes are correct but the miner is using his position as miner to benefit himself or others
Miners can't change that data in a transaction because that data is secured by the transaction-...
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This is precisely what federated byzantine agreement algorithms like that used by XRP and Avalanche do. But this is a such a huge change that you can't really consider the algorithm to be proof-of-work anymore.
What happens is that a block is not accepted when it is mined but some subsequent process that can only happen once the block is public is required. ...
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If the output value was only constrained by their sum being smaller than that of the inputs, you could e.g. set one output to a negative value and create new money in a second output.
You can also do more creative stuff:
I think the rule might have been introduced as a response to the value overflow incident on 2010-08-15. A transaction in a (now invalid) ...
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