Note
Gain a fundamental understanding of Cryptocurrency in an easy way. Before continue reading the story, I recommend to take a couple of minutes and read through the prior article again in order to refresh your present knowledge. The more often you read through the stories, the more confident you will get with the technology behind cryptocurrencies like Bitcoin. Take your time, to understand cryptocurrencies, as a Steemian it's worth it. The pictures are drawn by @RatzFratz, thanks for that!
If something in the story is not clear to you, don’t hesitate to ask. There are several people who might have the same question. So shoot me a comment, if something is unclear. Me and other readers will appreciate it!
In the last episode we saw that every Bitcoin-Miner is actually a Bitcoin Full-Node with Mining Function. We said that every Full-Nodes holds a list of pending-Bitcoin transactions which the Full-Node initiated by itself or received from other Full-Nodes.
In this episode we will see why a Bitcoin-Miner needs this list with pending Bitcoin-Transactions.
So we met the Bitcoin-Miner Alice which is participating in a mathematical-contest in order to win some Bitcoins as a reward.
In a former post we saw the procedure of the Bitcoin-Mining.
I want to pick up on that picture and start replacing the simplification with what is actually happening in the Bitcoin-Mining procedure.
First of all, it is important to know that a Full-Node with Mining-Function can furthermore create a block-candidate. A block-candidate is a potential block for the Blockchain...,a candidate.
So before a Bitcoin-Miner is joining the mathematical-contest, he creates a block-candidate. As we know, a block is filled up with pending Bitcoin-Transactions. This is what the List with pending Bitcoin-Transactions is for.
Our Bitcoin-Miner Alice is creating a block-candidate and fills it up with pending Bitcoin-Transactions from her list, which Alice initiated by herself or received copies from other Full-Nodes.
Basically a Bitcoin-Miner is creating a block-candidate filled with pending Bitcoin-Transactions, which he wants to add to the Blockchain in case he wins the mathematical-contest. There is another important thing about the block-candidate. We will see it in the next episode.
Summary
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Thank you
This is an amazing information
Thanks @okoro
appreciate your feedback
Hab mal wieder verpasst deine Posts abzuchecken. Entschuldige ;) Jetzt habe ich den hier mal geresteemed.
hehe auf dich kann man immer zählen! :D