Hacker News new | ask | show | jobs
by fidz 3419 days ago
Great explanation. Thank you very much. However, it raises question for me:

- So "Hash" it combination of Block Number, Nonce, and the Data? - If "mining" means computing the Nonce, what is the actual data to be hashed? - For Coinbase case, is it the data is the miner's Coinbase Account? So that if mining successful, the miner will get the "money"? If so, how do the first miner advertise the result so that the other peer can trust that the first miner actually get the money?
2 comments
Canada 3419 days ago
It's an expression containing a public key controlled by the miner.

The way you give value to someone else is by saying, "whoever can make this expression evaluate true can move the funds"

https://en.bitcoin.it/wiki/Script

link
Natanael_L 3418 days ago
Coinbase the company is unrelated to the Bitcoin protocol, other then that they use it like everybody else.

The hash covers the Bitcoin block header. The header includes a Merkle Tree Hash of all transaction, including the transaction that is the base for creating new coins = coinbase.

You pay to public keys. Payments have to be signed by the private key holder for the public key that a given set of coins have been assigned to.

Publishing the block itself that you mined is how your announce it. Others then have to accept your block and continue building on it as a part of the blockchain.

link