A process or system by which multiple parties are able to reach consensus. In the context of cryptocurrencies, it’s the process which allows for everyone to agree on everyone else’s money balance. E.g. Bitcoin employs Nakamoto consensus via PoW mining.
bitcoind.cpp – Commented Bitcoin source code
As mentioned in the Bitcoin-Qt commented source code post, there are several approaches one can take to step into the Bitcoin source in approximately the same order as it runs. For instance, tests are a great source of tiny example programs. Then there’s the ubiquitous Bitcoin-Qt client and, of course, bitcoind. All are good options […]
Will Bitcoin lose its #1 market cap crown?
Ethereum has just overtaken Bitcoin! But, wait! We’re not talking about market cap… As you’ve probably seen reported elsewhere, ETH now (Jun/2018) has more unique active addresses than Bitcoin. Is this a sign of something different looming in the horizon? Will Bitcoin end its 9 year reign as king of cryptocurrencies? Are there other cryptocurrencies […]
Bitcoin: The mother of all cryptocurrencies
On January 12 2009, an individual or group using the pseudonym Satoshi Nakamoto, announced that the first Bitcoin transaction had taken place. Ten Bitcoins had been magically transferred between Satoshi and cryptography legend Hal Finney. It was the beginning of a revolution which, to this day, promises to change how humankind deals with money, finance […]
ELI5 Multisignature Systems
What we call a Bitcoin is simply an unspent, signed transaction on the blockchain. (Technically called a UTXO, for Unspent Transaction (TX) Output.) When you say you own such many Bitcoins, it means one or more transactions were signed, using private keys, directing a certain number of Bitcoins to your address. How this signature process […]
Concepts In This Page
A process or system by which multiple parties are able to reach consensus. In the context of cryptocurrencies, it's the process which allows for everyone to agree on everyone else's money balance. E.g. Bitcoin employs Nakamoto consensus via PoW mining.
Proof of Stake
Proof of Stake is a consensus mechanism in which block verifiers prove their commitment to the network by staking their coins instead of by proving they performed some work (contrast with Proof of Work).
Staking is the process by which users delegate their Proof of Stake voting rights to a staking pool. The pool then verifies transactions on the users' behalf and, similarly to mining pools, share some of the profits back with the stakers.
Bitcoin is the world's first viable decentralized cryptocurrency. It was released on January 2009 by Satoshi Nakamoto.
A Bitcoin Puzzle is a cryptographic puzzle which carries Bitcoin as a reward. Those able to break the cryptography obtain access to the private key needed to unlock the Bitcoin.
A concept of value exchange that does not require physical tokens (coins or paper cash) to be used in order to trade. Cryptocurrencies are a type of digital money.
A distributed ledger is a decentralized financial database with data stored across multiple locations.
Hal Finney was a cryptographer who pioneered the development of Bitcoin. Finney received the first ever Bitcoin transfer.
Abbreviation of Proof of Location consensus mechanism.