New answers tagged proof-of-work
5
I think you might already know the answer, based on your question. The "chain of blocks" has value in Bitcoin because of the proof of work. It is also provides a data structure that can be used in an efficient way to verify the integrity of the chain, but that is not really what makes it interesting.
A permissioned blockchain, obviously, requires ...
2
Most of the full nodes are operating on normal CPUs which is now basically ineffective for mining. The mining process is handled by specific mining pools. So for full nodes that basically sees the same blockchain (there might be inconsistencies at the tip if two blocks are mined at the same time), they have the same UTXO set. This is because the UTXO set is ...
1
By mining, we mean that they are searching (through modifying the block and rehashing) for a block hash that is below the current difficulty target expected by all other network participants. This "target" is adjusted every 2016 blocks to maintain an average block time of about 10 minutes.
how does this random hash problem help validate the transactions ...
3
You are mixing the two things. It is not just miners, but the entire network of full nodes that ensure only valid transactions are included in a block. When a block is mined by a miner, it is propagated on the network. All the full nodes go through a detailed checklist (see here) to ensure that the block and the transactions within the block confine with the ...
0
The hash function used in the Proof of Work is not some variable or additional data in blocks that Bitcoin Core needs to check. Furthermore, the Proof of Work is not just something that you submit; in fact, it is not a separate data field at all. The Proof of Work is the hash of the block header, and checking the Proof of Work means computing that hash and ...
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