Understand the Double Spending problem
As implied by the name, a double spending problem happens when a transaction is processed twice while your account balance is only subtracted once.
This, of course, can only h...
About Ethereum EVM’s high GAS cost
As cryptocurrencies mature, the promise of a worldwide distributed ledger and computing platform is now taken for granted by businesses around the world.
Billions of dollars we...
Building the Haskell cardano-node on Linux
tl;dr; Jump straight to the build instructions The Details Looking forward to the Haskell mainnet, the next step in the Cardano project, I’ve begun exploring the cardano-node Haskell implementation. I find that exploring source code is much easier if you actually watch the program run for a while. So, the first thing a developer has […]
Bitcoin Blockchain SQL Schema for MySQL
This SQL schema was created for Crypto.BI Toolbox. The same, or similar, SQL schema can be used by anyone exploring Bitcoin with the help of a MySQL RDBMS. Although we didn’t test this SQL with other RDBMS’, it should be fully compatible with MariaDB and any other MySQL-derived system. How the data is inserted/retrieved to/from […]
ELI5: Cryptocurrency Micro Mining
Micro mining is a cryptocurrency mining modality where large quantities of small, and low computing power, devices perform the mining work. The idea stemmed from concepts related to IoT (Internet of Things), but also applies to other mining modalities where users contribute tiny amounts of work against proportional rewards. For example, by using their spare […]
Bitcoin Toolbox Home
Crypto.BI Toolbox is a set of tools for local blockchain exploration. It uses data from the raw Bitcoin block data files and does not require a network connection, API’s and other 3rd party data sources. It’s built of a combination of C++ libraries, Python integration and many other planned components that aim to make blockchain […]
Concepts In This Page
Block Sync is the procedure by which a cryptocurrency node retrieves validated block data from P2P peers on the network. A full node may only verify the most recent transactions once it finishes the block sync to the latest block.
Ticker symbol for the Ethereum cryptocurrency.
Ethereum is a second generation cryptocurrency, best known for making Smart Contracts available to the masses.
Geth is the reference Ethereum implementation. It is written using the Go programming language, thus the G prefix.
A networking architecture where peers talk directly with each other, not using a central server or infrastructure. E.g. Bitcoin and Bit Torrent are P2P systems.
The process of mining cryptocurrencies using a general-purpose computer CPU. Today most PoW mining is performed by either dedicated ASIC chips or GPU cards.
Mining is the collective and decentralized effort performed by network participants in order to verify cryptocurrency transactions. Participants receive a reward for their work, which serves as an incentive for mining activity.
Double spending is a condition where the same value can be spent twice, revealing a flaw in the payment processing system.
Irreversible transactions are a characteristic of digital payment systems which offer trustless decentralization. The irreversibility is necessary in order to guarantee that no transaction will be undone once committed by the network.
EVM is an acronym for Ethereum Virtual Machine, the decentralized virtual machine which runs smart contract applications stored on the Ethereum blockchain.