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 .
It is broadcast to all the connected peers.
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 ?
No. There is no "10 minute time slot". The amount of time it takes to solve a block is
RANDOM. The mining difficulty is adjusted so that it will require the entire global hash power combined approximately 10 minutes
ON AVERAGE, but sometimes it will take much less time and sometimes it will take much more.
The block does
NOT necessarily contain
ALL the transactions that were sent in the last 10 minutes. It also does
NOT necessarily contain
ALL the transactions that were sent since the previous block was solved. Solo miners and mining pools are allowed to choose whichever transactions they want to confirm in their block. The total size of all the transactions of the block combined together is not allowed to be more than 1 megabyte.
like block is found then it will commit the changes
There is nothing to "commit". There are no changes. There is just the new block. That block will be broad cast to all the peers that are connected to that solo miner or mining pool. Each of those peers will verify that the entire block is valid. If it is, then they will add that block to the end of their blockchain and they will re-broadcast the block to all the peers that are connected to them. Each of those peers will verify that the entire block is valid. If it is, then they will add that block to the end of their blockchain and they will re-broadcast the block to all the peers that are connected to them. Each of those peers will verify that the entire block is valid. If it is, then they will add that block to the end of their blockchain and they will re-broadcast the block to all the peers that are connected to them. And so on, until the entire nearly the entire network has heard about the block and added it to their own copy of the blockchain.
or its reverse like it will start committing the transaction on newly found block untill the next block is found -> is this correct ?
There you go using the "committing" word again. There is no "committing".
The miner (or pool) gathers together one megabyte (or less) of the unconfirmed transactions that they know about. They then build an 80 byte header for that block of transactions. They then hash that header. If the result of the hash is lower than the current difficulty target, then they have "solved" the block and they broadcast it. If the result is not lower than the current difficulty target, then they change something and try again. Typically the thing that they change is a 4 byte value in the header called a "nonce". However, at any time prior to solving the block, they can also change the 4 byte timestamp in the header, or they can change the list of transactions. Changing either of those things will also change the result of hashing the header.
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 ?
Here is what Satoshi said about being part of a segmented portion of the internet:
It's hard to imagine the Internet getting segmented airtight. It would have to be a country deliberately and totally cutting itself off from the rest of the world.
Any node with access to both sides would automatically flow the block chain over, such as someone getting around the blockade with a dial-up modem or sat-phone. It would only take one node to do it. Anyone who wants to keep doing business would be motivated.
If the network is segmented and then recombines, any transactions in the shorter fork that were not also in the longer fork are released into the transaction pool again and are eligible to get into future blocks. Their number of confirmations would start over.
If anyone took advantage of the segmentation to double-spend, such that there are different spends of the same money on each side, then the double-spends in the shorter fork lose out and go to 0/unconfirmed and stay that way.
It wouldn't be easy to take advantage of the segmentation to double-spend. If it's impossible to communicate from one side to the other, how are you going to put a spend on each side? If there is a way, then probably someone else is also using it to flow the block chain over.
You would usually know whether you're in the smaller segment. For example, if your country cuts itself off from the rest of the world, the rest of the world is the larger segment. If you're in the smaller segment, you should assume nothing is confirmed.
