How does the Bitcoin complete the transfer confirmation?

Source: Internet
Author: User

There are a lot of users who have just contacted Bitcoin don't understand what "confirmation" is, why should bitcoin transfer be confirmed? How many times does the bitcoin transfer need to be confirmed? I believe you will have some understanding after reading the following introduction.

The transaction data is packaged into a "block" or "block", which is initially confirmed. When the block is linked to the previous block, the trade fair is further confirmed. After 6 consecutive blocks were confirmed, the deal was largely irrevocably confirmed. The Bitcoin Peer-to-peer network stores all the transaction history in the "Chunk Chain" (blockchain). Block chains are continuously extended, and new blocks are not removed once they are added to the block chain. The block chain is actually a group of decentralized client nodes and a distributed database of all the participants, all of which are stored in a bit-currency transaction. It is expected that when the amount of data is increased, the client expects that the data will not be stored in its own node. In order to achieve this goal, he introduced a hashing function mechanism. This way the client will be able to automatically strip out parts that they never use, such as some very early bit-currency transactions.

The process of confirming a transaction is achieved by a work-proof mechanism to solve a series of computational challenges (to prove that you did provide sufficient computational power for the Bitcoin network). The work proof mechanism requires that the computer's computational power be a finite value, it takes a certain amount of time to work around, which makes it impossible for an attacker to rewrite the history of a transaction unless he can have more computing power than its bitcoin Peer-to-peer network system, thus generating block chains faster. The Bitcoin Foundation and the participants found a chain of counterfeit Bitcoin blocks that, after consensus, discouraged developers from developing and using counterfeit products, avoiding the possibility of a bit-currency share being used two times in two block chains. The difficulty of the work proof mechanism is automatically adjusted by the system, so the average time of the new block generation is 10 minutes. The nodes of the entire Bitcoin Peer-to-peer peer network automatically detect the validity of transactions and blocks, and ignore any transactions and blocks that violate the rules, such as those that generate the wrong number of blocks, or the transaction that sends the same share Bitcoin multiple times.

The client that participates in the processing block can get a certain amount of the newly issued bitcoin and the associated transaction fees. In order to get these new Bitcoin, the client that participates in the processing block needs to pay a lot of time and computational power, this process is very similar to mining, so the Ben Cong the data handler as "The miner", the data processing activity is called "digs a Mine". These newly generated Bitcoin can compensate the data processors in the system, and their computing work provides a guarantee for the normal operation of the Bitcoin Peer-to-peer network. By digging, the Bitcoin system also injected a revolutionary currency into the global economy.

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