Hi,
I have two questions regarding the bitcoin mining - technical side.
1) If multiple blocks are mined at the same time, branching occurs. Since there is a "rule" that new blocks should be added to the longest chain, the blockhain "stabilizes" that situation. Transactions that were in the blocks that were in "smaller" chain get put back to the unconfirmed transaction pool and have to be included in future blocks.
Now, if this scenario happens, does this mean that two transaction fees will be payed for the same transaction? First time it entered the block (that ended up in the "shorter" chain) and second time when that transaction was once again pulled from unconfirmed transaction pool and put in the new block (that hopefully ends up on the "correct" chain)
From miners point of view, the second transaction fee should be necessary because it is not the second miners problem that the block from the "first" miner ended up in the "short" chain. But then again, who is paying for the second fee?
2) Is it possible that two miners are trying to put the same unconfirmed transaction in their block? If yes, then they could possible both succeed in creating a new block, and both expect to get the fee... what happens with those transactions and fees in this specific scenario?
I know these are border cases...still...I would like to know
tnx!
I have two questions regarding the bitcoin mining - technical side.
1) If multiple blocks are mined at the same time, branching occurs. Since there is a "rule" that new blocks should be added to the longest chain, the blockhain "stabilizes" that situation. Transactions that were in the blocks that were in "smaller" chain get put back to the unconfirmed transaction pool and have to be included in future blocks.
Now, if this scenario happens, does this mean that two transaction fees will be payed for the same transaction? First time it entered the block (that ended up in the "shorter" chain) and second time when that transaction was once again pulled from unconfirmed transaction pool and put in the new block (that hopefully ends up on the "correct" chain)
From miners point of view, the second transaction fee should be necessary because it is not the second miners problem that the block from the "first" miner ended up in the "short" chain. But then again, who is paying for the second fee?
2) Is it possible that two miners are trying to put the same unconfirmed transaction in their block? If yes, then they could possible both succeed in creating a new block, and both expect to get the fee... what happens with those transactions and fees in this specific scenario?
I know these are border cases...still...I would like to know
tnx!