I’m trying to understand how mining works. For learning purpose I’m using Bitcoin Core as solo mining pool. Getblocktemplate will return data that is enough to start mining witch is simple founding correct nonce. But what is next step?
I found in bitcoin core method submitblock that have one argument / block data. I didn’t found any example how that data should be build. Please give me some advice.
I am building an application and that will involve large set of bitcoin wallets and need to keep on checking for balance. I don’t want to use any third party APIs as they all have hourly/secondly limits.
Is there any way I can check bitcoin wallets balance without any API? I am not sure is Bitcoin Demon and Bitcoin Core is for this purpose. Can anyone please suggest me the best way to verify bitcoin balances and transactions without any limits.
I managed to write the below code which will create public and private keys
Private Key
$input = "satoshinakamoto";
$sha256 = hash("sha256", ($input));
echo "<strong>Private Key: </strong>".$sha256."<br/>";
Public Key
$step1 = hexStringToByteString("0450863AD64A87AE8A2FE83C1AF1A8403CB53F53E486D8511DAD8A04887E5B23522CD470243453A299FA9E77237716103ABC11A1DF38855ED6F2EE187E9C582BA6");
echo "<p><strong>Step 1:</strong> ".$step1."</p>";
$step2 = hash("sha256", $step1);
echo "<p><strong>Step 2: </strong>".$step2."</p>";
$step3 = hash('ripemd160', hexStringToByteString($step2));
echo "<p><strong>Step 3: </strong>".$step3."</p>";
$step4 = '00'.$step3;
echo "<p><strong>Step 4: </strong>".$step4."</p>";
$step5 = hash("sha256", hexStringToByteString($step4));
echo "<p><strong>Step 5: </strong>".$step5."</p>";
$step6 = hash("sha256",hexStringToByteString($step5));
echo "<p><strong>Step 6: </strong>".$step6."</p>";
$step7 = substr($step6,0,8);
echo "<p><strong>Step 7: </strong>".$step7."</p>";
$step8 = $step4.$step7;
echo "<p><strong>Step 8: </strong>".$step8."</p>";
$step9 = bc_hexdec($step8);
echo "<p><strong>Step 9: </strong>".$step9."</p>";
$step10 = bc_base58_encode($step9);
echo "<p><strong>Step 10: </strong>1".$step10."</p>";
return $step10;
To generate public key I took reference from https://en.bitcoin.it/wiki/Technical_background_of_version_1_Bitcoin_addresses
In that link they provided Step by Step process and I followed the same and if
I input from Step 1 in the link then I am able to convert the code to public key but I am not sure how to convert Step 0 to Step 1
i.e.
From:
18E14A7B6A307F426A94F8114701E7C8E774E7F9A47E2C2035DB29A206321725
To
0450863AD64A87AE8A2FE83C1AF1A8403CB53F53E486D8511DAD8A04887E5B23522CD470243453A299FA9E77237716103ABC11A1DF38855ED6F2EE187E9C582BA6
Document says
Take the corresponding public key generated with it (65 bytes, 1 byte 0x04, 32 bytes corresponding to X coordinate, 32 bytes corresponding to Y coordinate)
What does that mean? How can I generate this value from Private Key.
Edit 1
This question says https://stackoverflow.com/questions/17672696/generating-bitcoin-address-from-ecdsa-public-key
Joining the Elliptic Public Key and I still don’t understand what are they.
As far as I understand it currently, when winning the “lottery” (mining) you can add a block, sum of transactions, to the blockchain. This block is in the first instance verified by all network users.
BUT can`t a lottery winner also add a fraudulent block to the chain?
What does this lottery contribute to the validity of the chain?
Or in other words: How are miners approving a bitcoin transaction, besides adding it to the blockchain when they win? Potentially, they could also add a lot of “sh**” to the blockchain.
If I build using –with-incompatible-bdb, will the resulting wallet be incompatible with the bitcoin core client from bitcoin.org? What if I’m using a newer version?
I’d be interested to know if the bitcoin network has ever been down. By “down” I mean that a client would not be able to synchronize with the network to obtain data like the txs in the mempool or recently mined blocks.
My guess would be that this would be extremely rare due to the decentralized architecture, but it’d be great to know for sure. If there have been downtimes, I’d be interested to know how frequent these have been and how long they have persisted.
I know that the blockchain technology works so well, because everybody has basically a copy of the last ledger.
Therefore, if a transaction happens, everybody inside the network has to "approve" the transaction to do it.
These other participants are then seen as trusted sources.
However, what makes them into trusted sources? Let’s say there are only three participants, two make a transaction and one has to decide if the transaction is acceptable or not (does the clearing). What makes him a trusted source?
Are these thoughts right or where am I wrong?
I appreciate your replies!
Is there any statement about the design of Bitcoin alluding to dealing with large pools controlling a good part of the network? while it is true that pools can compete and people can “vote” by switching pools, the statements handed down regarding major decisions affecting the Bitcoin system seem eerily central and authoritative. was this kind of power considered initially and is thus balanced now, or was Bitcoin intended to be strictly p2p initially?
This is more of a historical question about bitcoin than a technical question. Hope that’s okay…
Does anyone happen to know why the public key numbered:
pub 1024D/5EC948A1 2008-10-30
Available, for example, at pgp.mit.edu has the uid:
uid BuZz Spacedout <satoshin@gmx.com>
containing the string "BuZz Spacedout"?
I’ve been told that this is Satoshi’s public key and I was just wondering about the origin of the name "BuZz Spacedout". Is that another pseudonym that Satoshi commonly used besides Satoshi? Anyone know why he/she/they didn’t choose "Satoshi Nakamoto" rather than "BuZz Spacedout"?
I am trying to get variables back from the callback URL, but I can’t figure out how to add custom parameters correctly. This is how I have them written right now:
$newAddy = json_decode(file_get_contents("https://blockchain.info/merchant/$ID/new_address?password=$PW&funding_id=$funding_id"),true);
$parseAddy = $newAddy[address];
$funding_id is the extra one that I want to add. Any suggestions?