Post
Topic
Board Beginners & Help
Ledger
by
AlexR12
on 07/12/2017, 18:53:59 UTC
Hello!
Could someone verify if the following is true (my understanding of distributed ledger concept as applied to Bitcoin).

Each node of the network (miners and all other nodes that run Bitcoin client) has a copy of the ledger. Thus, the ledger is stored by the nodes (it is distributed in exactly this sense!). The ledger is periodically updated with new blocks of transactions being sent to the nodes. Hypothetically: If I am a miner and want to create a fork I can easily do it by creating a block and sending it to the network and the network will add it to the ledger. For example, for the chain A-B-C-D, I can add a block B2 to B, thereby creating a fork at node B. Of course, this block will most likely be orphaned because it is not the longest branch and the miner did it, say, for fun. Is my understanding right? If not, please point out what is not right.

Thank you in advance!