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Building Blockchain Projects

You're reading from   Building Blockchain Projects Building decentralized Blockchain applications with Ethereum and Solidity

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Product type Paperback
Published in Apr 2017
Publisher Packt
ISBN-13 9781787122147
Length 266 pages
Edition 1st Edition
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Author (1):
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Narayan Prusty Narayan Prusty
Author Profile Icon Narayan Prusty
Narayan Prusty
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Table of Contents (10) Chapters Close

Preface 1. Understanding Decentralized Applications FREE CHAPTER 2. Understanding How Ethereum Works 3. Writing Smart Contracts 4. Getting Started with web3.js 5. Building a Wallet Service 6. Building a Smart Contract Deployment Platform 7. Building a Betting App 8. Building Enterprise Level Smart Contracts 9. Building a Consortium Blockchain

Timestamp


The formula to calculate the target of a block requires the current timestamp, and also every block has the current timestamp attached to its header. Nothing can stop a miner from using some other timestamp instead of the current timestamp while mining a new block, but they don't usually because timestamp validation would fail and other nodes won't accept the block, and it would be a waste of resources of the miner. When a miner broadcasts a newly mined block, its timestamp is validated by checking whether the timestamp is greater than the timestamp of the previous block. If a miner uses a timestamp greater than the current timestamp, the difficulty will be low as difficulty is inversely proportional to the current timestamp; therefore, the miner whose block timestamp is the current timestamp would be accepted by the network as it would have a higher difficulty. If a miner uses a timestamp greater than the previous block timestamp and less than the current timestamp, the difficulty...

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