This series continues to translate the original white paper by Satoshi Nakamoto to plain language. The goal is to have easily shared content, and send new people directly to nostr to read it. The original content will be posted, with the plain language below.
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Node - A participating computer in the Bitcoin network that checks transactions and follows the rules of the network.
5. Network Paragraph 1
The steps to run the network are as follows:
1) New transactions are broadcast to all nodes.
2) Each node collects new transactions into a block.
3) Each node works on finding a difficult proof-of-work for its block.
4) When a node finds a proof-of-work, it broadcasts the block to all nodes.
5) Nodes accept the block only if all transactions in it are valid and not already spent.
6) Nodes express their acceptance of the block by working on creating the next block in the chain, using the hash of the accepted block as the previous hash.
Plain Language
The steps to run the network are as follows:
1) The network is like a digital bulletin board where people post their transactions. Everyone in the network knows what's happening.
2) All those transactions get grouped together into a block. Like a batch of transactions or processes people want to have verified.
3) The challenge: solving a complex puzzle (proof-of-work) for the block. Once solved, the first one to solve it gets to announce their success to the whole network.
4) The winner broadcasts their block to everyone like a scoreboard to the puzzle game.
5) However, the other participants only accept the block if all the transactions in it are legit and haven't been used before.
6) Now, since they've successfully added a block, computers gear up for the next challenge. They create a new block, linking it to the previous one. Like a continuous chain of puzzles, ensuring a secure and organized environment for transactions.
Said another way, being a node is like being a referee, checking every move to keep the game fair. If a node accepts a block, it's not just sitting there – it's already thinking about the next round, linking it to the previous one and keeping the game going.
In a nutshell, the Bitcoin network is like a digital challenge playground and competition where participants work together to validate and secure transactions through solving complex puzzles.
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