The deciphered block extracted by the bitcoin node

As the largest cryptocurrency network in the world, understanding how Bitcoin blocks are extracted for anyone interested in blockchain and mining technology. In this article, we will deepen the process of determining who has extracted a certain block in the Bitcoin block chain.

Hexagonal value decoded: a simple approach

An ordinary method to identify who has a block implies the analysis of the decoded value to
op_return (returning the output parameter) in the first transaction that created the block. OP_RETURN is a special type of output that allows miners to create custom transactions without storing blockchain.

This is how it works:

• In each block, there are two types of transactions:
  Normal transactions and
  OP_RETURT transactions .

• Normal transactions contain the necessary data to create new or active currencies, while OP_RTNR transactions have a unique purpose.

• When a miner creates a new block, select an NP (new prize) that can be used to extract new or active coins.

• The first transaction in the new block is called
  Pre-Miner transaction , which contains NP and other necessary data.

OP_RETURN TRANSACTION DECODIFICATION

To analyze OP_RETURN transactions, you must decode the value of the hex of each output address:

• Open a bitcoin customer or use an online tool that accepts the decoding of hexadecimal values.

• Look for the first transaction in the new block (usually the transaction
  Pre-Miner ) and identify the output addresses.

• Analyze the hexadecimal values ​​of these directions to determine which belong to OP_RETT transactions.

Identification Who has extracted a block

To know who has extracted the block, you must consider more factors:

• Block heading : Verify the “Merkle Root” hash of the block header to identify possible mining candidates.

• The number of transactions and hashes : Look at the number of transactions in the new block and its hashs (that is, hexadecimal values).

• HASH Energy Distribution : Analyze the distribution of HASH power in different knots, since it can indicate who has the necessary calculation resources for me.

Conclusion

The deciphering of the Bitcoin blocks implies the analysis of OP_return transactions and the understanding of the paper of the blocks, the number of transactions and the power distributions of the hash. Taking these factors into account, you can determine who has extracted a certain block in the Bitcoin block chain. Although this method is not unexpected, it offers a good starting point for anyone interested in obtaining more information about Bitcoin Mining.