2.5 Bitcoin Blockchain: Mining in Bitcoin Blockchain

Bitcoins

Bitcoins

________ are created by the process of mining.

Merkle

The mining node constructs the block header using the following fields: version, ________ root, previous block hash, difficulty target, nonce.

The mining node constructs the block header using the following fields

version, Merkle root, previous block hash, difficulty target, nonce

node

Each Bitcoin ________ that gets the transaction will initially verify the transaction.

Miner

_____ nodes aggregate the transactions in a candidate block

memory pool

Each node fabricates a pool of valid, however, unconfirmed transactions known as the transaction pool, ______ ___.

How does the mining node solve a mining puzzle?

The mining node constructs the block header using the following fields: version, Merkle root, previous block hash, difficulty target, nonce

The goal is now to find a value for the nonce that results in a block header hash that is less than the difficulty target

valuable resources

Since miners use their ________ __________ to validate the block, they are given a monetary award.

consensus mechanism

In Bitcoin’s __________ __________, each new block is validated independently by every node on the network which ensures that only valid blocks are propagated on the network

validate

Nodes ________ the block by checking it against a long list of criteria that must be met

The mining node constructs the block header using the following fields:

version, Merkle root, previous block hash, difficulty target, nonce

monetary

Since miners use their valuable resources to validate the block, they are given a ________ award.

consensus

In Bitcoin’s _________ mechanism, each new block is validated independently by every node on the network which ensures that only valid blocks are propagated on the network

mining power

Mining nodes vote with their ______ ______ by picking which chain to extend by mining the next block.