Stanford CS251: Lecture 4
Lecture 4: Blockchains 80 bytes block consists of 32 bytes previous block hash, 32 bytes transactions Merkle tree hash, timestamp, bits, nonce, etc. Each block is <= 1MB to minimize the propagation times. Therefore, large transactions require more service fee to compensate miners to include the transaction in the block. Miner’s transaction checks ScriptSig (from spending transaction) || ScriptPubKey (from funding transaction) executes and this should produce non-empty stack. Empty stack or zero is false. Transaction inputs are in the UTXO set. Sum of all outputs <= Sum of all inputs As of Oct 2016, 43M UTXO, 475K unique addresses, and 15.9M BTC in circulation. ...



