Podcasts: Chaincode Decoded: Blockchain - Episode 14 🔗 3 years ago

Category: Podcasts | The Chaincode Podcast
Author(s): Chaincode Labs
Published: 27th May 2021 19:24

In this Chaincode Decoded segment we talk about the fundamental role of Bitcoin's blockchain and some of its peculiarities.

We discuss:

Purpose of the blockchain (0:40)
Mining is a lottery, not a race (1:57)
Why doesn't the same miner always win? (5:12)
What happens if two blocks are found at the same height? (6:12)
The longest reorgs (9:11)
How does the blockchain work? (12:18)
- Headers-first synchronization and Ultraprune: Episode 1 with Pieter Wuille
- Episode 5: The UTXO set
Why does Bitcoin converge on one chain? (15:20)
- Selfish mining paper: Majority is not Enough: Bitcoin Mining is Vulnerable
Will we always find a new block? (18:04)
- Entropy sources in the block header
Mining pools have disjoint hashing spaces (19:30)
- Correction: mining pools do not have a separate pay-out address for each participant, but give out a unique coinbase transaction stub for each.
- Eschaton block

Thanks to Caralie for the sound engineering.