How does the blockchain verification process work

Question

Blockchain:

    |1|-|2|-|3|-{4}   - Bob Chain
    |1|-|2|-|3|-{4}   - Alice Chain

Assume both Bob and Alice found a new block, but it will not be verified until someone finds a next block. So my question is what is happening in a situation if Alice chain will gets a block |5| first in her chain. Will Bob get his reward for block |4| ? Can a single person earn anything from mining without a huge network ?

Answer 1

First of all, when someone creates a block, he broadcasts it to the rest of the network. If there are two people that create the block at the same time, they will broadcast it. So, you will get two blocks at the same time. Although you save both blocks, you will try to mine one of them. After some time, one of the two branches will be longer, so you will delete the second one.

In Blockchain, a block is considered well when it has a few blocks above it. So, the reward is taken by the individual when one of the chains has a longer branch.

Comments

What will happen when we are waiting for one of these two chains to get a block and become the longest chain, but again both the chains get the same new blocks at the same time?

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The same process as mentioned above will continue until there is one chain with an extra block making it the long chain

Answer 2

Verification (simplified) is the process of running transactions through one way mathematical equations called hashes. When a new block is created, all of its transactions are hashed (in some cases, hashed many times), producing a unique result.

These results are verified by other nodes on the network by re-running the same mathematical equations with the same inputs and confirming that the output matches exactly. If the output doesn't match what that tells the node is that the inputs don't match, either due to an error or fraud, and the transaction should be ignored.

Answer 3

Verification in blockchain is a consensus mechanism based process.Since blockchain acts as a decentralized ledger with multiple nodes in the network, the transaction must be verified by all nodes. All blockchains are continuous chains starting from a genesis block upto to the current block.

During the process of creating a new block, the transactions are hashed and a unique output or result is created. A hash function, takes input, and produces a specific output of a fixed size. It acts a digital fingerprint which cannot be modified.

The successive block in the chain contains a hash of the previous block and each block refers to its predecessor block for authentication. The transactions in a blockchain are referred to by their hash. For authentication of a transaction, all nodes must receive same output by running the hash. If different output is received then the transaction is considered invalid and is not verified.

Answer 4

Verification is a process of running the transactions in one way, mathematical equations called hashes. When new block is created, all of transactions are hashed. In some cases, they are hashed a lot of times.

They end up producing unique result. Other nodes verify the said results by running same mathematical equations, with same inputs confirming output matches exact.