Concept
How do other miners confirm a winning block?
chapter 5 / Building the Blockchain
"The miner that creates a block does not establish its legitimacy alone, because the other miners must verify both the proof of work and the transactions contained within the block. They compare the transaction data with the block’s hashed data and check the transactions against the existing blockchain history to ensure that funds were not counterfeited or spent without authorization. Their confirmations are broadcast to the network, allowing recipients and miners to accept the block and continue building on it."
Related Ideas
- How does proof of work seal a new block?chapter 5 · Building the Blockchain
- How do hashes package transactions into blocks?chapter 5 · Building the Blockchain
- How does the blockchain prevent double-spending?chapter 5 · Building the Blockchain
- What work do bitcoin miners perform?chapter 5 · Building the Blockchain
- What role does the Internet play in decentralized money?chapter 5 · Building the Blockchain
- How does the Yap ledger illustrate decentralized record-keeping?chapter 5 · Building the Blockchain
- How does bitcoin keep block production on schedule?chapter 5 · Building the Blockchain
- Trusted institutions verify transactions and maintain financial records.digital money · introduction