New answers tagged consensus
0
The bitcoin network is composed of 'bitcoin full nodes'... to change this 'coin issuance schedule', you would have to change the code running on all of those computers
Regardless of how many times this statement is repeated (and upvoted on SE!), it is obviously wrong to anyone willing to spend even a few minutes thinking about it.
Except for a few special ...
5
The tie is broken by the first of the two that gets extended with a child block.
In practice, in case two conflicting blocks at the same height appear on the network, every node will pick the one they saw first as winner. Because communication across the earth happens at a finite speed, some miners may see one side of the fork first, and other miners may see ...
1
If the nodes are what keep Bitcoin decentralized, what if some big internet company spun up 60%+ majority nodes?
Nothing. There is nothing special about the number of nodes.
What’s stopping them from manipulating the blockchain to change transactions?
When one node talks to another node, it either sends valid messages or it sends invalid messages. If it ...
2
Each Bitcoin transaction is signed using the private key(s) of the sender(s). The cryptographic signatures both provide authorization of the payments and ensure integrity of the transaction. The signatures commit to a digest of the transaction, which means that the signatures are invalid out of the context of exactly that transaction, even if the transaction ...
1
Every full node validates transactions and blocks. They do not change transactions based on some percentage.
Decentralization: What makes the bitcoin network decentralized? is it the nodes or the miners or both?
Nodes and consensus rules: https://bitcoin.stackexchange.com/a/108045/
Importance of economic nodes: https://en.bitcoin.it/wiki/Full_node#...
2
Block verifiers don't manipulate the block chain. What matters is the economical weight of those verifiers, not the number of node processes they run.
Top 50 recent answers are included