Hi Roger, thanks for your question. What I’m trying to cover in the paragraph you highlighted and the following ones is the so called “Double Spending Attack”, if reading until past Fig 8 of the article doesn’t clarify the process you can find a more detailed explanation here: https://bit.ly/2JLTKqR
Yes please, with great pleasure. I’m happy for you to publish a Chinese translation of my article on Ethfans.org if you quote the original article at the beginning by linking to it, mentioning my name and maintaining the same links at the bottom.
The computers collaborate in a similar way to P2P networks, however the block time won’t be reduced if the number of computer increases because the algorithm is designed to increase the mining difficulty in order to maintain that average 10 minutes per block.
Yes, that’s why you need to wait for a few blocks to be mined in order for the transaction to be secure. Generally 6-8 blocks are considered “enough”, but for large amounts it’s safer to wait for 12-15 blocks or more.
Hi Lin Hu, you don’t bother at all. You can find this story already translated in Chinese by Ben Z.W. Jian at this link. Please feel free to include it in your publication by crediting my name and the link to this original article here on Medium (in English). Should your publication be for-profit, or monetise content via advertisement, please send me…
Hi Mayank, it refers to the fact that there must be consensus among all the network nodes regarding the validity and order of transactions. Basically each node validates transactions and all nodes need to share the same validated transactions order for it to be accepted and recorded in the distributed ledger (blockchain).
Yeah, I understand there might be too much information in those diagrams. The article text should guide you step by step in understanding them (or at least I tried to write it as such). Should you have specific questions don’t hesitate in writing them here. Don’t worry about taking calculus twice, many of successful entrepreneurs worldwide had to…