In this Chaincode Decoded segment we talk about the fundamental role of Bitcoin’s blockchain and some of its peculiarities.
- Purpose of the blockchain (0:40)
- Mining is a lottery, not a race (1:57)
- Why doesn’t the same miner always win? (5:12)
- What happens if two blocks are found at the same height? (6:12)
- The longest reorgs (9:11)
- How does the blockchain work? (12:18)
- Why does Bitcoin converge on one chain? (15:20)
- Selfish mining paper: Majority is not Enough: Bitcoin Mining is Vulnerable
- Will we always find a new block? (18:04)
- Mining pools have disjoint hashing spaces (19:30)
- Correction: mining pools do not have a separate pay-out address for each participant, but give out a unique coinbase transaction stub for each.
- Eschaton block
Thanks to Caralie for the sound engineering.