Tuesday, October 1, 2024

api – Blockchain endpoint working

Disclaimer: I maintain STORJ. (Not that it could have any affect on the reply)

What you are right here is an ERC20 token. So your query revolves across the Ethereum blockchain.

When a brand new block is mined, it’s transmitted to the nodes on the community. That is achieved by the miner transmitting to his node, and his node transmits to different nodes, so forth and so forth.

The concept of “finish factors” you might be asking a node, shall we say your node, or a third occasion suppliers node for data. In an excellent world all nodes have the identical actual data. In the true world they are often totally different however the node software program resolves these variations utilizing “longest chain wins”. That is why we look ahead to confirmations. Ethereum works a bit in another way because it makes use of a “confirmed” flag as an alternative of variety of instances it is seen for the reason that authentic block it was first discovered however that is the Bitcoin discussion board.

With Bitcoin you’ll be able to ask any node for “a block” however i believe you imply “a transaction”. You merely do not contemplate a “transaction” or “block” to be legitimate till there are 6 blocks after it. By then it is statistically inconceivable for it to not “Exist” on the complete chain.

In your ultimate instance: Storj does not actually “land” (or any token/coin on any chain). A transaction is submitted to mempool which is then broadcast to different nodes. A miner sees the transaction, mines it, and provides it to a block. That block is then rebroadcast. There isn’t any method so that you can “spend” something as a result of another person has to verify that the transaction is legitimate and add it for it to indicate up on the precise chain.

Observe: Apologies for any confusion. The query was a bit awkward however did my finest to reply the varied factors in it. I extremely recommend investigating how blockchains work and why they work. Bitcoin is a improbable place to start out since this all began with Bitcoin.

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