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Can a miner meddle with the transaction data in a block?
Hi,
If it is possible to introduce an nonce in the data to produce a new has, can a miner play around with the transaction data also?
If Yes, then let's say he changes the data of a particular transaction, then verifies it and that block gets stored in the blockchain. In this way that particular transaction(altered one) is authenticated and thus disturbs the blockchain.
What are the protocols to avoid such situations?
PS - I am a beginner and just trying to understand how BitCoin and Blockchain works. Thanks in advance!
If it is possible to introduce an nonce in the data to produce a new has, can a miner play around with the transaction data also?
If Yes, then let's say he changes the data of a particular transaction, then verifies it and that block gets stored in the blockchain. In this way that particular transaction(altered one) is authenticated and thus disturbs the blockchain.
What are the protocols to avoid such situations?
PS - I am a beginner and just trying to understand how BitCoin and Blockchain works. Thanks in advance!
Who checks that for a particular transaction, your wallet has sufficient money?
Well, your "wallet ballance" is just private key with transactions not yet spend. You have for example 1 BTC. If you spend that, all money in this transaction must be used. So you could sent someone 0.5 BTC but rest of it 0.5 BTC must be sent to ur own new address as change (we skip transaction fee here). So miners see if 0.5 + 0.5 = 1 if yes, then he accepts ur transaction, if not transaction is invalid. Simple math.
So is this verified by the miner? I thought he only validates the transactions by calculating crypto-graphic hash functions.
Please pardon me for asking such a basic question.
Who checks that for a particular transaction, your wallet has sufficient money?
If Person A has to send Person B 5 BitCoins, which process validates that Person A wallet has the required amount for the transaction?
Thanks in advance!
That is actually a good question. Who checks that for a particular transaction, your wallet has sufficient money?
If Person A has to send Person B 5 BitCoins, which process validates that Person A wallet has the required amount for the transaction?
Thanks in advance!
Miners verify transactions and put them in a block they try to mine. This means that every confirmed transaction is checked. So how do they check it?
The blockchain is a ledger that contains all transactions. There you can see when a coin was created and if a coin was spend and to which address it was spend. If there is no further address to which the coin was send, then it is still in the current address.
There is also a list of all addresses that hold unspent Bitcoins, so it is easy to check.
edit: also i think all wallets check if you have sufficient funds.
So basically wallets check whether you have sufficient coins for the transaction or not.
And what miners does is 'validate' the transaction (encrypt the transaction data hash) by calculating crypto-graphic hash functions.
Am I right?
Please pardon me for asking such a basic question.
Who checks that for a particular transaction, your wallet has sufficient money?
If Person A has to send Person B 5 BitCoins, which process validates that Person A wallet has the required amount for the transaction?
Thanks in advance!
Who checks that for a particular transaction, your wallet has sufficient money?
If Person A has to send Person B 5 BitCoins, which process validates that Person A wallet has the required amount for the transaction?
Thanks in advance!