Bitcoin Mining

BitMEX Research Spots Orphaned Block on Bitcoin’s Blockchain, the First Produced in Over 3 Months

Krystle M
May 29, 2019

Quick Facts:

Orphaned block found on Bitcoin by BitMEX Research.
Andreas Antonopoulos spoke out during Bitcoin Q&A to explain this type of transaction.

Bitcoin has been holding it down above $8,500 for the most part lately, and the rest of the cryptocurrencies have followed suit. However, the reason that the original crypto asset is presently gaining some attention is due to a report from BitMex Research, which said that Bitcoin is showing an orphaned block. BitMEX Research announced this discovery via tweet.

Bitcoin experienced an orphaned block this morninghttps://t.co/uzJXPLZduO pic.twitter.com/153WPlVnj5
— BitMEX Research (@BitMEXResearch) May 28, 2019

This is the first time that an orphaned block has been reported in March, April, and May of this year. The last time one was recorded happened in February. There are two typical situations that result in an orphaned block – when an attacker tries to roll up a transaction, or when two miners end up producing blocks in timeframes that are similar to each other. While the blocks are entirely valid, they are separate from the main blockchain.

Explaining this type of transaction, Andreas Antonopoulos took part in a Bitcoin Q&A session called “Orphaned blocks and stuck transactions.” He said that an orphaned block happens as a result of two blocks being mined at the same time. One of the blocks becomes orphaned, while the other is successful, which means that the transactions would be replayed for the orphaned block.

To clarify, the author said that about 90% or 95% of the transactions end up being the same. The rest go back to the mempool. Furthermore, Antonopoulos added that there is no information lost in the process, though there would be a slight delay for the transactions to be input to the next block.

BitMEX confirmed this to be true on a subsequent tweet, saying that the majority of the transactions from this block managed to reach the main chain. However, there were three transactions that did not – two transactions with all of the same information except the fee, and one transaction from Coinbase. BitMEX also confirmed that there were no double spends on the transactions.

Bitcoin experienced an orphaned block this morninghttps://t.co/uzJXPLZduO pic.twitter.com/153WPlVnj5
— BitMEX Research (@BitMEXResearch) May 28, 2019

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Krystle M

Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.