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2 votes

How Is it possible that bitcoin blocks store transaction data in 32-bit SHA256 strings. How would nodes know the transaction?

How is it possible that bitcoin blocks store transaction data in 32-bit SHA256 strings They don't. Bitcoin blocks store the full transaction data in binary. There is no SHA256 involved in its storage....
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1 vote

Does The Bitcoin Network Have A Way To Alert Nodes Of A Network Issue/Bug?

Does the Bitcoin Network still have a way of notifying nodes of a potential fatal bug/error? No. After all, it is a peer-to-peer network without any central control. Either no-one can issue alerts or ...
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0 votes

Why aren't more empty blocks mined?

There is some kind of relationship between empty blocks and difficulty increase/decrease that I have not been able to formulate properly. The fewer the empty blocks, the closer to the 10 minutes ...
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2 votes

Why aren't more empty blocks mined?

The overhead of validating transactions is relatively insignificant. If it is felt desirable to do so, it can be performed by a separate machine from that performing the mining. Say 2000 transactions ...
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5 votes

Is it common for mining effort to be lost?

Mining is a 'memory-less process', which means that each and every attempt at solving the block is unrelated to how many past attempts you've taken. It is like rolling dice: no matter what you rolled ...
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3 votes

Is it common for mining effort to be lost?

All miners create and discard billions of blocks every second. This work, including the discarded work, acts to benefit the entire Bitcoin community by securing the network. This is the work that is ...
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11 votes

How would faster blocks cause mining centralization?

Why faster blocks? This conversation often starts with someone pointing out that shortening the block interval would allow for a quicker first confirmation, reduce variance in mining revenue, and ...
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2 votes
Accepted

How Is The Genesis Block statically encoded into bitcoin client software?

What does 'statically encoded' even mean? See: https://stackoverflow.com/questions/572547/what-does-static-mean-in-c https://en.wikipedia.org/wiki/Character_encoding https://en.wikipedia.org/wiki/...
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1 vote
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Curiosity, Minimal transaction accepted as valid? (zero input/ zero output)

If we take the transaction's structure : 00000000 (version) 00 (nInputs) 00 (nOutputs) 00000000 (locktime) Of course, that's a good question, and your transaction's structure is correct. But,this ...
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1 vote

Curiosity, Minimal transaction accepted as valid? (zero input/ zero output)

No, it would be invalid. Every transaction must have at least one input and at least one output.
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1 vote
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Do block rewards appear immediately in the miner's wallet?

Both miners should see their total funds increase the moment they mine a block. (Since from each of their perspectives, they're on the best chain and the other chain is extinct at that moment.) Then, ...
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4 votes

How many transactions fit into a single block?

there is a limited number of transactions that fit into a block Yes, though this is a bit inaccurate. Transactions have a "weight" (roughly proportional to its number of inputs and outputs, ...
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