How transactions become a shared ledger
Part 2 of 5. Thousands of computers end up agreeing on the exact same record by checking each other's work and chaining every page to the one before it.
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9 entries / 1 thread
Bitcoin Institute ↔ Satoshi Nakamoto
Part 2 of 5. Thousands of computers end up agreeing on the exact same record by checking each other's work and chaining every page to the one before it.
After Len Sassaman's death (July 3, 2011), security researcher Dan Kaminsky embedded an ASCII-art tribute into the Bitcoin blockchain, announced July 30 and revealed at Black Hat USA 2011.
Mike Hearn reports progress on his Java SPV implementation, describes his approach to block storage on Android, and raises concerns about protocol ossification as the number of implementations grows.
Mike Hearn reports testing Bitcoin on Mac via Wine, asks about block counts, confirmation times for micropayments, proof-of-work coordination, and difficulty adjustment.
Hal Finney ↔ Satoshi Nakamoto, Jonathan Thornburg
Finney answers Thornburg: Bitcoin has no "mint" and no company whose officers can be subpoenaed, and its key new idea is a decentralized, global, irreversible transaction database.
Bitcoin's first block carries a Times headline about a bank bailout — the one personal touch Satoshi left anywhere in the design. A reading of why he chose it.
Bitcoin Institute ↔ Satoshi Nakamoto, Craig Wright
Bitcoin's genesis block, read from the v0.1 source: how hardcoded constants build it, the five-day gap as a timestamp artifact, who counts as its author, proof-of-work headroom, and who holds the key.
Bitcoin Institute ↔ Satoshi Nakamoto
How Bitcoin blocks are structured, how Merkle trees commit transactions to block headers, and how the most-work chain selection rule resolves forks.