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Gepost in:2024.05.19
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When this happens, the phrase commonly used is that a miner has found a block.To be eligible for the reward from the next block, which is added 10 minutes later, a miner needs to have the latest copy of the blockchain to participate in the next round.Therefore, good will alone isn’t sufficient to keep the system running....
Why does only one miner add a block, and how is it decided which of the thousands of miners it is? This is where Bitcoin gets interesting—and a little technical.Then, based on some probability, a winner is chosen and gets to add a block.But the lure of a reward is always an attraction....
To be eligible for the reward from the next block, which is added 10 minutes later, a miner needs to have the latest copy of the blockchain to participate in the next round.Why does only one miner add a block, and how is it decided which of the thousands of miners it is? This is where Bitcoin gets interesting—and a little technical. computer that is connected to the Bitcoin network....
All volunteer their computers for the purpose of adding new transactions to the blockchain (we’ll explain why they do this in a moment).(The banker may or may not be sporting a monocle, wearing a top hat, and smoking a cigar.Why does only one miner add a block, and how is it decided which of the thousands of miners it is? This is where Bitcoin gets interesting—and a little technical....
computer that is connected to the Bitcoin network.Then everyone else on the Bitcoin network follows suit and updates their own copy of the blockchain (this includes other miners and Bitcoin wallet programs).We’ll skip the technical details for now (they’re covered in Chapter 8) and just say that miners generate random numbers continuously, until they find a winning one....
