Technical Questions about Blockchain
Hello, I was hoping someone on this sub could answer a couple questions for me about how the blockchain works. I'm not really interested in mining but want to know how this all works. I've been trying to read up on it from various sources but have had trouble finding answers to these:
When one is trying various nonces and running the hash, are the transactions contained in that original data that is being hashed?
Are those transactions just being broadcast to miners and they know which is the first one they must include in the next block?
Is your solution not accepted if you skip a transaction or something?
Is it just up to the miner to decide how many of the pending transactions they wish to include?
The hash solution that is found is essentially meaningless and not used for anything other than it must appear in the next header, correct? Just to keep the chain going.
I assume when a solution is found, a majority of the other miners must agree it is correct. Is there any incentive to performing that check? I guess maybe it gives you a head start on the next solution?
I guess that's a lot of questions already so I'll stop. If there's a better sub for questions on the inner workings please let me know. Thanks for any responses.
Submitted June 01, 2016 at 07:17AM by monstimal
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