Author: Andy Parkins 2011-11-23 15:29:45
Published on: 2011-11-23T15:29:45+00:00
In a discussion on November 23rd, 2011 between Jorge Timón and Dr. Andy Parkins, they discuss the probability of a miner's block being accepted by their peers in the Bitcoin network. Timón brings up the possibility of miners cheating the timestamp by hashing the block two minutes after it was supposed to be hashed and then sending it to other nodes. However, Parkins points out that this strategy is risky as the same window is available to everyone else, and their efforts may be wasted if their block is rejected by peers. The conversation also delves into the topic of the network clock, which is not part of the protocol but an individual miner's choice to accept or reject blocks based on the timestamp claimed. The clients currently use a community clock for compatibility, and miners are incentivized to use a similar time to what their peers are using to avoid having their blocks rejected under Parkins' proposed system.
Updated on: 2023-06-04T21:32:54.403158+00:00