Bitcoin [BTC] experiences orphaned block; not a rare occurrence: BitMEX Research

2019-5-28 13:45

Bitcoin [BTC], the largest cryptocurrency in the market, seems to be holding its position above the $8,500 mark pretty well. The bull rally started by the largest cryptocurrency was carried forward by other cryptocurrencies as well, with several rising by double digits over the past seven days.

Earlier today, the digital gold was placed in the spotlight yet again after BitMEX Research reported an orphaned block. The tweet stated, “Bitcoin experienced an orphaned block this morning”. Notably, this was the first orphaned block produced in the months of March, April, and May, 2019. Prior to this, an orphaned block was recorded on 11th February 2019.

Source: BitMEX Research | Twitter

Source: Blockchain

An orphaned block is usually a result of two miners producing blocks in a similar timeframe, or an attacker trying to roll up a transaction. These blocks are valid blocks, but are not a part of the “difficultywise-longest and well-formed blockchain/mainchain”.

During a Bitcoin Q&A session titled ‘Orphaned blocks and stuck transactions,’ Andreas Antonopoulos had stated that when two blocks are mined simultaneously, one of those blocks would be successful and the other would be orphaned, resulting in the orphaned blocks’ transactions being replayed.

However, the author clarified that most of those transactions would coincide, adding that about 90-95 percent of transactions would be the same, while the rest of the transactions that were not included would be sent back to the mempool for its inclusion in the next block.

Andreas further stated that “nothing is lost” in this process. However, it would take a longer timeframe for transactions to be included in the next block. He added,

“Every node will remove the transaction that actually were included in a mined block. And if a block gets orphaned or [there is a chain reorg], then all the transactions go back in the mempool, unless they are on the majority chain.”

Joshua J. Bouw, a Twitter user, said,

“Wow, a rare occurrence of a completely protocol abiding competition between two blocks found at roughly the same time =D.”

Doesn’t this happen more often? If its just few seconds/mins away its no big deal ,right?

— Andrej Cibik #StackingSats (@AndrejCibik) May 28, 2019

The post Bitcoin [BTC] experiences orphaned block; not a rare occurrence: BitMEX Research appeared first on AMBCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 95966.79 (-1.07%)
Объем 24H $40.658b
Изменеия 24h: -1.58 %, 7d: -6.58 %
Cегодня L: $95673.44 - H: $97458.26
Капитализация $1900.107b Rank 1
Цена в час новости $ 8688.33 (1004.55%)

bitcoin btc well cryptocurrency research largest experiences

bitcoin btc → Результатов: 126


Фото:

Bitcoin Rally Set To Extend? Expert Foresees A $110,000 Price Target For BTC

The general cryptocurrency community is brewing with excitement and optimism following Bitcoin’s rally to a new all-time high on Monday. Despite the significant price growth, there are speculations that the uptrend may not be ending anytime soon, suggesting BTC’s potential for more increases to higher levels or milestones. Next Big Milestone For Bitcoin On The […]

2024-12-17 17:30


3 tokens on track for new all-time highs like Tron (TRX) and Bitcoin (BTC)

The crypto market has witnessed a number of tokens rallying toward new all-time highs (ATHs), including notable players like Bitcoin (BTC) and Tron (TRX). Despite some setbacks, such as the US government transferring nearly $2 billion worth of Bitcoin, BTC has remained resilient, triggering a massive impulsive move that saw it reach an ATH of […] The post 3 tokens on track for new all-time highs like Tron (TRX) and Bitcoin (BTC) appeared first on CoinJournal.

2024-12-15 21:58