3 ms·
just a little bit more detail: miners are timestamping machines, which main function is to order (!) the transactions. That's it! The is the whole point, ever
by nfin 6y ago
just a little bit more detail:
miners are timestamping machines, which main function is to order (!) the transactions. That's it!
The is the whole point, everyone/every node verifies the rules, but the network has to agree on some ordering, as they could be many possibilities to order the transaction, and the network wouldn't know who to listen (everyone has his own opinion about the best ordering). So the "lucky miner" extends the blockchain effectively ordering the new transactions.
If the miner increases the supply or doesn't follow any other consensus rule, other nodes won't accept it. So the miner has not much power. He orders transactions