Hello and welcome to our followers and all members of the Binance platform 😍
In this topic, we will discuss together the third part of the somewhat explained translation of what was mentioned in the presented paper.
From the godfather of the world of digital currencies, especially Bitcoin
SATOSHI NAKAMOTO
Let's get started
4. Verification of work
In order to create a distributed timestamp server in a peer-to-peer network, we need to use a proof-of-work system similar to the one proposed in the paper by
Adam Back's Hash Cash.
Unlike the daily newspaper timing system, in the validation system a specific value is searched for or
Finding a solution is a solution to the encryption puzzles of the system, and when creating the hash of that value with the encryption system
(SHA-256)
The hash must start with a number of bits.
The average work required is of a numerically increasing nature in the number of zero bits required and can be verified by executing
single hash
For our time stamp server, the proof of work is performed by incrementing the value of the
nonce
Until reaching a certain value, and once that value is partitioned, the number of zero bits required to give
Correct hash for the block.
Once the work has been validated by the participants' CPUs correctly, it cannot be changed.
The data of the block cannot be changed unless the work is done again and once the subsequent blocks are added to the chain, the data cannot be changed.
The oldest is only validated by re-proving the validity of the work of the requested block and subsequent blocks in the chain.
Another advantage of the proof-of-work system is that we can also overcome the problem of representation in majority decision making.
👉the problem of determining representation in majority decision making
For example:
If the system for proving the validity of work in the network depends mainly on the addresses of the Internet Protocols
By users, meaning that the right to vote in the network is
(One vote per IP address)
Therefore, this system can be easily subverted by anyone who can have many addresses by using
Some special applications or something.
Therefore, the proof-of-work algorithm was designed on the basis that the right to vote in the network is
(One vote per CPU)
The majority decision is represented by working on the longest existing chain that has the greatest effort of the processing units.
United together and invested in.
If this system is implemented through loyal network participants,
honest nodes
The correct chain will grow much faster than the attacks of disloyal participants who try to
Make another parallel chain for example.
In order for the network hackers to be able to complete the hacking process, they must re-prove the validity of the work of a specific block in
The chain is intact and proof of work for subsequent blocks and works faster than the speed of loyal participants and exceeds
Their own series.
We will mention later that the possibility of any network hacker is increasingly diminishing in number.
diminishes exponentially
This is done with the addition of subsequent blocks in the chain.
In order to keep pace with the ever-increasing development of the computing power, strength and speed of central processing units.
used by network participants over time A moving average of the difficulty of obtaining a block is taken relative to
For the number of blocks produced per hour, this is done in order to maintain the block production rate, no matter how much the computational power increases.
So if the blocks are created faster, the difficulty increases in return.
------
Network. 5
Here are the basic steps to get the network up and running properly:
The longest chain in the network is considered the correct chain and the rest of the participants work according to this basis.
Then increase the chain and work on expanding it.
If two different blocks are broadcast at the same time by any two parties participating in the network, there is a possibility that
Some participants receive one block first, then another, and vice versa for the rest of the participants.
To solve this problem
The first block is received and the next block in the chain is worked on. This is done in a branch while keeping the branch that contains it.
On the other block in case it is actually correct.
Once the next block in the chain is found, the longest branch of the correct blocks is taken and the other (shorter) branch is ignored and ignored by the workers on it and transferred to the longer correct chain.
Proof of transmission of transactions does not necessarily require that they reach all participants in the network at the same time as long as they reach
Most of the participants will be worked on in the block and will be followed up by the rest of the participants.
The block broadcasting system is adaptive in nature to blocks being lost and this is done by the network participant if he/she does not
He receives a certain block and receives the next one after it. His system will realize this and will automatically request the missing block as soon as it realizes this.
Here ends the third part of the translation of the Bitcoin white paper.
Until I see you in the second part, stay safe🥰🥰
