Question

Assume A wants to send 2 BTCs to B.

I) All these kind of unconfirmed transactions will be added into a pool.

II) Create this A->B for 2 BTCs transaction and broadcast it.

III) 1st miner M1 who solves the hash challenge wins and will create a new block.

IV) M1 wins 12.5 BTCs (as of 2018) plus the transaction fee for each new transaction.

V)M1 broadcasts this block, then all miners just add this block into the chain.

VI)All miners will try to find a new hash number for these new transactions.

What is the correct order of the events occured?

a. I, II, III, V, VI, IV.

b. II, I, III, V, VI, IV

c. II, I, VI, III, V, IV

d. none of the above

Answer 1

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Answer:

option C is the correct option - II, I,VI,III,V, IV

Explanation:

The correct order of events occurred when A wants to send 2 BTCs to C is

• Create this A->B for 2 BTCs transaction and broadcast it.
• All these kind of unconfirmed transactions will be added into a pool.
• All miners will try to find a new hash number for these new transactions.
• 1st miner M1 who solves the hash challenge wins and will create a new block.
• M1 broadcasts this block, then all miners just add this block into the chain.
• M1 wins 12.5 BTCs (as of 2018) plus the transaction fee for each new transaction.