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Title: What happens to mined blocks? Post by: kllr123 on July 14, 2012, 03:51:25 PM hi, ive always wondered about this and would like a propper answer to this question.
After a block has been mined, what happens to the solved block? What is it used for or where does it go? Title: Re: What happens to mined blocks? Post by: DeathAndTaxes on July 14, 2012, 03:52:58 PM Mining is transaction verification. It is the process of putting valid unconfirmed transactions into a permanent record. The blockchain is that permanent record. Miners hash unconfirmed transactions into blocks. Mined blocks are distributed to every node in the network. Nodes validate those blocks and add them to the end of the blockchain. The blockchain is used to confirm the validity of future transactions.
Title: Re: What happens to mined blocks? Post by: nimda on July 14, 2012, 03:57:48 PM Mining is slightly different than what you think it is. Basically, the miner takes a hash of the entire blockchain to-date (it's slightly more complicated than that, but that's irrelevant). Then, the miner adds a nonce -- random data -- to the previous hash, and performs double SHA256 on it. If the result is lower than a certain number (determined by difficulty), i.e. it starts with enough 0's, then it is a valid solution. The miner can then publish the "block," which is composed of a header, including proof that the miner actually found a solution, and transactions, which include a transaction which has no inputs and one 50 BTC (soon to be 25) output. The block, once published, is added to the "blockchain" and new miners build upon it by using it as part of new blocks.
(There is some technical stuff missing here, such as merkle trees and whatnot, but I don't think they pertain too much to the question) Now, there is the possibility that I'm completely missing the question, in which case you need to rephrase it ;) Title: Re: What happens to mined blocks? Post by: kllr123 on July 14, 2012, 04:03:11 PM Thanks for the speedy reply! That I understand now. One more question, where does the "equations" or blocks origionate from?
Title: Re: What happens to mined blocks? Post by: Gabi on July 14, 2012, 04:15:07 PM https://en.bitcoin.it/wiki/Block_chain
https://en.bitcoin.it/wiki/Block Title: Re: What happens to mined blocks? Post by: DingoRabiit on July 14, 2012, 04:28:56 PM https://en.bitcoin.it/wiki/Block_chain Beat me to ithttps://en.bitcoin.it/wiki/Block Title: Re: What happens to mined blocks? Post by: unclemantis on July 14, 2012, 05:38:30 PM Mom? Where do babies come from?
The block chain dear! Title: Re: What happens to mined blocks? Post by: SpontaneousDisorder on July 14, 2012, 05:51:20 PM Mom? Where do babies come from? The block chain dear! Mom! Wait... I don't have a mom, my blockchain was orphaned! :'( Title: Re: What happens to mined blocks? Post by: unclemantis on July 14, 2012, 06:38:24 PM Mom? Where do babies come from? The block chain dear! Mom! Wait... I don't have a mom, my blockchain was orphaned! :'( Block Chain Adoption Agency at your service kiddo! Title: Re: What happens to mined blocks? Post by: kllr123 on July 17, 2012, 07:28:40 PM Thank you all for the replys. Helped me understand a few things a bit better!
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