AgoristView on Nostr: No, miners compete in a number guessing lottery that allows them to officially put ...
No, miners compete in a number guessing lottery that allows them to officially put the transactions in order, making a block. But the nodes validate all transactions they recieve before they even relay them to miners. Nodes validate everything.
Even in BCH people running nodes had to run the BCH code first & then wait for miners to make BCH blocks. It was the nodes that changed the rules. The network is the economically active nodes which pay the miners to mine. The idea that miners are the network is basically like trying to apply the labor theory of value to blockchains.
Published at
2024-12-15 13:38:03Event JSON
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"content": "No, miners compete in a number guessing lottery that allows them to officially put the transactions in order, making a block. But the nodes validate all transactions they recieve before they even relay them to miners. Nodes validate everything.\n\nEven in BCH people running nodes had to run the BCH code first \u0026 then wait for miners to make BCH blocks. It was the nodes that changed the rules. The network is the economically active nodes which pay the miners to mine. The idea that miners are the network is basically like trying to apply the labor theory of value to blockchains.",
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