Hot answers tagged

25 votes
Accepted

Can someone please explain FIBRE to me like I'm 5 and why is it useful?

First the "why it matters": Fibre (Fast Internet Bitcoin Relay Engine) is a protocol which attempts to deliver Bitcoin blocks around the world with delays as close to the physical limits as ...
  • 7,519
9 votes

List transactions *relayed* by my full node?

Blockchain.info lists the first IP address it sees a new transaction from. If you aren't the one creating the transaction, and aren't accidentally the node right in between the node that does and ...
9 votes
Accepted

Improvements that could be made to how bitcoin propagates its transactions and blocks?

The answer partially depends on on what you mean by "how bitcoin propagates" and "improvements"-- Fibre transmits blocks vanishingly close to the lowest latency possible, but at the expense of using ...
  • 7,519
7 votes
Accepted

When we can agree on mempool sorting order, we can just confirm first n-transactions that are at least 10 mins old. What's missing?

Your answer assumes different nodes can have a consistent view of the mempool. If that were the case, we wouldn't need a blockchain at all, whose sole purpose is establishing consistency between ...
7 votes

What are the advantages to become a bitcoin node?

There benefit is that you operate a full node in the Bitcoin network. Yes, this is your premise but it's also the consequence of it. You merely seem to not understand what operating a full node means. ...
  • 3,164
7 votes
Accepted

How does a new block get distributed

When a node discovers a new block, it will send an (unsolicited) inv (inventory message) to announce the new block to its peers. The peers should then respond by sending a getdata message requesting ...
  • 65.3k
7 votes

How do miners choose transactions?

https://www.coindesk.com/information/how-do-bitcoin-transactions-work/ She then sends them from her bitcoin wallet out to the wider bitcoin network. From there, bitcoin miners verify the ...
  • 385
6 votes
Accepted

What forces transactions to be visible to all miners?

A transaction can go in a block if it's valid (references inputs that are already in the same or previous blocks, scripts are legal and return success, and signatures validate ok), regardless of ...
6 votes
Accepted

How does a node get information from other nodes?

get set of UTXO. Note: nodes don't download the UTXO set directly, they download the entire blockchain and build their own UTXO set as they verify the blockchain. How does a node tell other nodes ...
  • 11.5k
6 votes
Accepted

Why is a synchronized mempool necessary in the network?

There's no bloom filters involved, or any actual attempt at synchronization. Nodes relay transactions they hear about to one another, so there's probably some level of consistency in mempool contents ...
  • 15.2k
5 votes

Is the transaction pool global or local?

Do all the miners have one global pool filled with transactions Different full nodes have a different version of the mempool. Transactions are broadcasted to the bitcoin network on a best effort ...
  • 7,018
5 votes
Accepted

What happens if a miner receives a block but not its previous?

Will the miner simply ignore that block? Yes, the block will be just ignored by the miner. how will the miner update to A-B-C-D-E (step by step)? When the miner's node gets online and start ...
  • 7,018
4 votes

What forces transactions to be visible to all miners?

Whomever originates the transaction (the sender) wants their transaction completed as quickly as possible, especially if they attached a big "incentive" (fee) to it. So they will announce their ...
  • 1,334
4 votes

Can there be stale blocks in "header first" implementation?

Stale and orphan blocks are confusing terms with many meanings, depending on whom you ask. If by stale blocks you mean "blocks that are on branches off the main chain, but are otherwise valid", yes, ...
4 votes

Can someone please explain FIBRE to me like I'm 5 and why is it useful?

FIBRE is valuable as it allows for miners to extremely quickly propagate their blocks to other miners and to the rest of the network. The goal of FIBRE is to reduce latency in block transmission. ...
  • 63.3k
4 votes
Accepted

Why are miners allowed to change a tx id?

BIP 62 proposed to make transaction malleability impossible. No it didn't. It would have outlawed a limited number of known and addressable forms of malleability. In particular, it did not prevent ...
4 votes

Did Bitcoin Core relay blocks sequentially or in parallel to peers before Compact Blocks?

It isn't as simple as "sending sequentially" or "sending in parallel". Each connection is its own socket and the kernel performs packet scheduling. The Bitcoin protocol doesn't have any ...
  • 7,519
4 votes

How to find nodes forwarding transactions with less than minRelayTxFee?

Since 0.13.0 nodes will tell their peers via the feefilter p2p message what their current minimum acceptable feerate is. Given that it's fairly uncommon for nodes to run with something other than the ...
  • 65.3k
4 votes
Accepted

Is the minimum fee consensus, just policy, or both?

Both are policy. Both are about the same rule, just concern different parts of the code. DEFAULT_MIN_RELAY_TX_FEE is about transaction relay (don't relay transactions that pay less than 1000 satoshis ...
3 votes
Accepted

Does the `blocksonly` setting prevent other nodes from sending my node unconfirmed transaction, or does it simply cause my node to ignore them?

This allows the bitcoin node to operate similar to a SPV client. These nodes advertise their capabilities to other nodes as they peer with them. A node running in blocksonly mode will indicate that ...
  • 2,640
3 votes

When we can agree on mempool sorting order, we can just confirm first n-transactions that are at least 10 mins old. What's missing?

There are a few issues with this proposal: No transaction could ever be confirmed in less than ten minutes. We already have plenty people up in arms that choose to rely on zero confirmation ...
  • 65.3k
3 votes
Accepted

Can a desktop wallet be tracked using IP address?

Surveillance nodes in the Bitcoin network that mass-connect to many nodes within the network could pin-point and identify your node as the first relay for some of your transactions with some degree of ...
  • 2,378
3 votes

What is my incentive for sending old blocks?

Miners have spent money on mining hardware. The value they are able to get out of that mining hardware is tied directly to the price of Bitcoins and the mining difficulty. If the price goes up, that ...
3 votes
Accepted

Do transactions happen globally synchronized?

No, that is not correct. Transactions can happen in parallel, asynchronously, and do not need to wait their turn. When someone creates a transaction, they send the transaction statement to their ...
  • 65.3k
3 votes
Accepted

What is the waste ratio of the overall network?

The waste ratio you are talking about is different from the one mentioned there. What you are talking about is the difficulty: if the network's total hash rate is X hashes/second, then the difficulty ...
3 votes
Accepted

Best Way to Get Latest Transactions

Without verifying the transactions themselves, there's no guarantee that the transactions you get from either method are valid. Nodes can lie about what transactions they have in their mempool, for ...
  • 7,639
3 votes
Accepted

How can I get logging information on incoming transactions with bitcoind?

If you run the daemon or the GUI (bitcoin-qt) using the debug=1 argument, then bitcoin will write a variety of events to the debug.log file, including info about transactions received by your node. ...
3 votes

How does a node get information from other nodes?

Nodes communicate by gossiping about new data to their peers. For example, whenever a new block is found, a node that hears about it, will tell all its peers "Hey, I've got a new block with the ...
  • 65.3k
3 votes

Why miners need to broadcast blocks that contains full transactions in Bitcoin?

In current versions of Bitcoin Core, most transactions are only relayed once and all transaction are only validated once. New blocks and transactions in Bitcoin are usually advertised to peers by use ...
  • 65.3k

Only top scored, non community-wiki answers of a minimum length are eligible