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Hi,
Sorry Guys for starting this post , I read a lot article videos etc but still have some doubts .
one of the major question is about what actually done with the block which is discovered by miners .
So as a miner I hit the block and get some BTC good -> No issues on this
so if 1 block is found then will it hold all the transactions which is done on last 10 min time slot -> is this correct ?
like block is found then it will commit the changes or its reverse like it will start committing the transaction on newly found block untill the next block is found -> is this correct ?
2nd issue is with Tracking , As i found in net Bitcoin work like bit torrent too. and have some trackers so that client will discover each other , what if due to tsunami in Pacific USA & japan are cut from world then how this 10 min time slot commit ?
Thanks
Sorry Guys for starting this post , I read a lot article videos etc but still have some doubts .
one of the major question is about what actually done with the block which is discovered by miners .
So as a miner I hit the block and get some BTC good -> No issues on this
so if 1 block is found then will it hold all the transactions which is done on last 10 min time slot -> is this correct ?
like block is found then it will commit the changes or its reverse like it will start committing the transaction on newly found block untill the next block is found -> is this correct ?
2nd issue is with Tracking , As i found in net Bitcoin work like bit torrent too. and have some trackers so that client will discover each other , what if due to tsunami in Pacific USA & japan are cut from world then how this 10 min time slot commit ?
Thanks
the block is just a list of pending transactions. the miner create the block by choosing (some) pending transactions and some random data. the miner creates a hash of this "block". the hash must met some predefined conditions. if the calulated hash did not met the conditions, the miner change some of the random data (nonce) and calulate the hash of the block again. the miner repeat this process until the hash fulfills the predefined conditions (or another miner found a correct hash). this random search should take by design aprox. about 10 minutes.
the "predefined conditions" (difficulty) will be adjusted automaticly by the software. the target is, that the search for the correct hash of a block, lasts about 10 minutes. if the correct hash ist found earlier the difficulty (conditions) will be adjusted.
