When a node starts up it initializes its copy of the block database alongside the genesis block and then begins the synchronization process. For some reason, Satoshi decided not to add the coinbase transaction from the genesis block to the global transaction database. Thus all the nodes in the network would reject the block.
I'm not sure if this was done ...
Colored coins are a method to track the origin of bitcoins, so that a certain set of coins can be set aside and conserved, allowing a party to acknowledge them in various ways. Such coins can be used to represent arbitrary digital tokens, such as stocks, bonds, smart property and so on.
The colored coins protocol is decentralized just like Bitcoin, but the ...
Note that the accepted answer is outdated.
Currently, sequence numbers are mainly used for signaling RBF - replace-by-fee - that allows you to resend a transaction with a higher fee.
See https://bitcoincore.org/en/faq/optin_rbf/ , https://github.com/bitcoin/bips/blob/master/bip-0125.mediawiki
There is only one (Bitcoin) chain, and the Genesis Block is the first block in that chain.
This block was created by Satoshi Nakamoto as the first link in the blockchain. It is hard-coded into the refernce Bitcoin client. To create it, it was "mined" like every other block, except it was at the minimum difficulty level, and contained arbitrary data.
They're exactly the same number; one is written in little endian notation and the other is big endian. Notice that the bytes (two-hex-digit pairs) are exactly reversed from one to the other.
Block explorers like blockchain.info usually expect big-endian for block hashes. The proof-of-work requirement means that the most significant bits have to be zero, ...
There is no technical constraint causing the genesis block's reward to be unspendable forever.
It is a bug that has now become the accepted standard. In the future the genesis block reward could be spent but clients must be updated to fix this bug or they will reject blocks containing a valid input referring to this transaction (...
The genesis block is really nothing more than a block that doesn't have a previous block. Creating a new genesis block only involves setting the previous hash part of the block to all zeroes. Because it doesn't have a previous block, it's automatically the first block in the chain, and creating a new genesis block means that you create a new block chain.
Exactly like all of the other mined bitcoins.
There are some quirks about it, though. For example, the previous block hash is all zeros, because no block came before it. Also, those bitcoins can't be spent, because of a quirk in the code.
Of course, if there's only one node in the network, it's not really a decentralized payment processing system.
How would you change it to allow it to be spent?
In order to make the coinbase spendable, the following changes have to be made to validation.cpp (v0.16.2). Note: as mentioned this would be considered a hard fork.
Step 1 - Disable skipping the genesis block (which is intended to keep the bug as part of consensus), Line 1818:
// Special case for the ...
The genesis block still must meet the proof of work requirements that other blocks must also meet. So you must actually mine the genesis block. To do this, you need to put CreateGenesisBlock in a while loop and just keep incrementing the nonce, and if necessary, increment an extranonce in the coinbase transaction.
To check that it has a valid proof of work, ...
Looks like amount is a part of block information influencing hashes. Try to debug or log resulting hashes before assert:
logging.info("Genesis Block Hash " + consensus.hashGenesisBlock);
logging.info("Compared to Hash " + uint256S("0x326bcc5731fba75254090bcd460d2e514c0ba86f91f7ef30ba48ff8a32e99c5e"));
And then check debug.log in your coin folder.
The above is actually Bitcoin Script, not just byte data.
This breaks down to:
04 # PUSH the next 4 bytes
ffff001d # This is the same as the nbits for the block, which was the target for the ...
The scriptSig field of a coinbase transaction is special. It doesn't need any signatures at all, as no coins are being spent. The ability to produce new coins, which that input represents, is inherent to the protocol - every block is allowed some fixed amount of produced coins. Requiring a signature on it would be wasteful and pointless. Which key should we ...
If you do this, you'll be very disappointed even if you succeed. The genesis block is ignored in terms of effects on the state of coins. The actual Bitcoin genesis block's outputs are effectively unspendable, even if Satoshi showed up with the key.
Create genesis block. Some people get stuck there, it's really easy:
find LoadBlockIndex() function, inside, change:
paraphrase (pszTimestamp) to any recent news phase.
get the latest unix time (do a google), and put in block.nTime.
set any nNonce (doesn't really matter),
you can change the time/nonce for testnet too, if you want to use it.
After you are ...
I assume this is referring to the duckduckcoin launch fiasco.
For pre-mined coins based on the Bitcoin software, the pre-mined coins typically just go to whoever mines the first few blocks. The idea is that you don't open the software up until those blocks are mined. But if you do, and someone else mines those blocks, they get the pre-mine. To protect ...
Second one is the latest usage before it being totally removed from the source code.
It wasn't removed. It just got moved:
static CBlock CreateGenesisBlock(uint32_t nTime, uint32_t nNonce, uint32_t nBits, int32_t nVersion, const CAmount& genesisReward)
const char* pszTimestamp = "The Times 03/Jan/2009 Chancellor on brink of second bailout for ...
It is important, because it is used to seed the block and chain databases before syncing can occur (you need a block to build on). It's the root of the tree of blocks, forks, and ultimately the chain tips that represent the chains your software is tracking.
It is imported differently to others, as it's coinbase transaction is not included in the UTXO set (...
uint256S("00000fffffffffffffffffffffffffffffffffffffffffffffffffffffffffff"); //what this do ? end what put to here
The first line describes a minimum difficulty.
consensus.nRuleChangeActivationThreshold = 6048; // 75% of 8064 //what this do end what put ?
consensus.nMinerConfirmationWindow = 8064; // nPowTargetTimespan / nPowTargetSpacing * 4 //what this ...
This is a pay-to-pubkey (P2PK) script, where the transaction contains the destination public key itself. These were common in the early days of Bitcoin, and were originally the type of script that would be created by default by miners (see Why does the default miner implementation use pay-to-pubkey?), though nobody seems to know why this was chosen.
Does freshly installed bitcoin-core node have genesis block included in the installation?
This fresh node contacts some peer for downloading blockchain. Can malicious peer give node wrong chain? Is this attack possible and how is it mitigated in bitcoin?
There is no way for the chain to be "wrong" that would not be detectable to the node. If it's ...
Of course, because Bitcoin is (mostly) anonymous, we can't know for sure who has been sending these, let alone their reasons. But some guesses:
People donating money to Satoshi, since it's known to be his address.
Mistakes. Satoshi's address is commonly used as an example in guides for creating transactions, etc, and it could be that some people copied ...
I think your misunderstanding is in the assumption that the genesis block must be a block.
There is no need for that.
For all we care the genesis block is just a specific hash that is used as hashPrevBlock to identify block number 1. It doesn't actually need to correspond to an actual block. Modern Bitcoin software doesn't actually treat the genesis as a ...
The first transaction of each block is special according to the Bitcoin Protocol, and people give it a special name: generation transaction (because it can generate new bitcoins) or coinbase transaction (because it's the only transaction to contain a field called the "coinbase" [the company Coinbase is named after this field, but is otherwise unrelated]).
Are the transactions added to the genesis block spendable, just like any other transactions from other blocks, or is that an unspendable coinbase transaction.
Transactions aren't spendable; transaction outputs are.
Is the transaction within the Genesis block spendable, provided the corresponding private key of the bitcoin recipient is found?
The single ...
At least with current versions of the Bitcoin Core client, the Genesis block is actually hard coded into the client.
The part of the code that builds this block is located here and I have included a JSON dump of the coinbase transaction below for reference.
"txid" : "4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33b",
"version" : 1,...