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Figure 8-6. Visualization of a blockchain fork event - The network re-converges on a new longest chain All nodes that had chosen “green” as the winner in the previous round will simply extend the chain one more block. The nodes that chose “red” as the winner, however, will now see two chains: blue-green-pink and blue-red. The chain blue-green-pink is now longer (more cumulative difficulty) than the chain blue-red. As a result, those nodes will set the chain blue-green-pink as main chain and change the blue-red chain to being a secondary chain. This is a chain re-convergence, as those nodes are forced to revise their view of the blockchain to incorporate the new evidence of a longer chain. Any miners working on extending the chain blue-red will now stop that work because their candi‐ date block is an “orphan”, as its parent “red” is no longer on the longest chain. The transactions within “red” are queued up again for processing in the next block, as that block is no longer in the main chain. The entire network re-converges on a single blockchain blue-green-pink, with “pink” as the last block in the chain. All miners im‐ mediately start working on candidate blocks that reference “pink” as their parent to extend the blue-green-pink chain. It is theoretically possible for a fork to extend to two blocks, if two blocks are found almost simultaneously by miners on opposite “sides” of a previous fork. However, the chance of that happening is very low. Whereas a one-block fork may occur every week, a two-block fork is exceedingly rare. Bitcoin’s block interval of 10 minutes is a design compromise between fast confirmation times (settlement of transactions) and the probability of a fork. A faster block time would make transactions clear faster but lead to more frequent blockchain forks, whereas a slower block time would decrease the number of forks but make settlement slower. 208 | Chapter 8: Mining and ConsensusPDF Image | Mastering Bitcoin
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