I know very little about the processes involved but have been surfing through wikipedia and related articles to try and understand how transactions are recorded in the blockchain. I know practically nothing about computer science so “For Dummies” answers would be appreciated.
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Is the “answer” to a proof-of-work “question” difficult to solve initially (cpu-intensive) but easy to verify afterwards? I can’t imagine how it could work otherwise if everyone on the network had to solve it first then agree.
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How does the order of transactions get verified within a block? If there is a lot of trading done within the 10 minutes that it takes to create a block, how is the official, more granular, time and sales record being verified? I could see that being a big problem in short term volatile trading.
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What’s to stop people from sending random transaction keys to the servers just for the sake of having their shenanigans recorded in the blockchain?