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will be an orphan transaction. Add to the orphan transactions pool, if a matching transaction is not already in the pool • For each input, if the referenced output transaction is a coinbase output, it must have at least COINBASE_MATURITY (100) confirmations • For each input, the referenced output must exist and cannot already be spent • Using the referenced output transactions to get input values, check that each input value, as well as the sum, are in the allowed range of values (less than 21m coins, more than 0) • Reject if the sum of input values < sum of output values • Reject if transaction fee would be too low to get into an empty block • The unlocking scripts for each input must validate against the corresponding output locking scripts These conditions can be seen in detail in the functions AcceptToMemoryPool, Check Transaction, and CheckInputs in the bitcoin reference client. Note that the conditions change over time, to address new types of Denial-of-Service attacks or sometimes to relax the rules so as to include more types of transactions. By independently verifying each transaction as it is received and before propagating it, every node builds a pool of valid new transactions (the transaction pool), roughly in the same order. Mining Nodes Some of the nodes on the bitcoin network are specialized nodes called miners. In Chap‐ ter 1 we introduced Jing, a computer engineering student in Shanghai, China, who is a bitcoin miner. Jing earns bitcoin by running a “mining rig”, which is a specialized computer-hardware system designed to mine bitcoins. Jing’s specialized mining hard‐ ware is connected to a server running a full bitcoin node. Unlike Jing, some miners mine without a full node as we will see in “Mining Pools” on page 211. Like every other full node, Jing’s node receives and propagates unconfirmed transactions on the bitcoin net‐ work. Jing’s node, however, also aggregates these transactions into new blocks. Jing’s node is listening for new blocks, propagated on the bitcoin network, as do all nodes. However, the arrival of a new block has special significance for a mining node. The competition among miners effectively ends with the propagation of a new block which acts as an announcement of a winner. To a miner, receiving a new block means someone else won the competition and they lost. However, the end of one round of a competition is also the beginning of the next round. The new block is not just a check‐ ered flag, marking the end of the race, it is also the starting pistol starting the race for the next block. Mining Nodes | 183PDF Image | Mastering Bitcoin
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