Why is the operation of a Bitcoin Full Node is so important, shows the proposal of an unfair block of pages AntPools. 10. July was propagated by AntPool Block 584,802 and paid $ 15,000 too much. The case is a textbook example of how Bitcoin works.

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12. July 2019BTC$11.671,00 0.08%part Facebook Twitter LinkedIn xing mail

Dont’ trust and verify is a well-known Bitcoin Motto. The Name is program: Instead of third trusted parties such as banks and payment networks such as SWIFT, blind to, offers Bitcoin the ability to monitor all of the operations of the network independently. Network participants violate the rules, the and is sanctioned. This happened on 10. July of this year.

AntPool propagated invalid Block

How BitMEX Research, the research of the Bitcoin exchange BitMEX division, tweet, tried to AntPool Block 584.802 with transaction fees equip, which were not included in the Block at all.

in other words: AntPool fees for transactions would strokes, had not processed the Pool at all. Empty blocks to the mines is possible, good is the network, however, is precious little. For the purpose of Mining is to reach a consensus on all transactions in the network, as well as the Mempool, so the Pool of unconfirmed Outputs, to empty. Consequently, AntPool have had every right to propagate an empty Block; for transaction fees in the amount of 1.265 BTC in addition to the Coinbase Reward of 12.5 BTC the network rules had to be lubricated hurt.

Full Nodes reject the Block starting with

Here is the appeal of distributed systems is shown then. Due to the fact that all nodes use the same Software, there is a consensus on the network rules. If some participants violate them – as happened here – the Bitcoin Full Nodes an error and reject the Block as invalid. The Problem in this case: The transaction fees of € 1.265 BTC had increased the Bitcoin money supply artificially, because no one would have paid. This would have been a fundamental breach of Bitcoins algorithmic growth and the Cap at 21 million Coins.

background unclear

Although the blocks will always be found time and again to be invalid, discussed the scene, the operations-intensive. It is unclear whether it was a conscious attempt to deceive of pages AntPools or a Software Bug. The latter is, however, plausible. Finally, the mines of Bitcoin is the energy blocks extremely time-consuming and thus costly. Miner have to work – in compliance with all rules – already at the limit for profitability. The propagation of fake blocks with a reasonable degree of decentralization and so AntPool is likely to have a significant incurred losses, which are disproportionate to 15,000 US dollars in illegal Profits.

The Theory of Software Bugs also Cypher punk and Bitcoiners James Lopp represents. The Software developer emphasizes that AntPool had found the invalid Block, only 21 seconds after Block 584.801. At the moment the Software is deleted the transaction fees from the Coinbase Reward, apparently.

The incident proves that In case of a reasonable decentralization, there is simply no incentive to cheat in the Bitcoin network. It’s not worth it. Thus, the network remains decentralized, there should be as many Bitcoiners, who operate a Full Node.

by the Way: Bitcoin is not infallible. Two times the network for more than 20 minutes was suspended. Nevertheless, BTC has an Uptime of 99.98 percent, this should suffice.

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