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 ...
Early Bird Gets the Bitcoin!
An 11 year old author has attracted the attention of the cryptocurrency world with a new book entitled Early Bird Gets The Bitcoin: The Ultimate Guide To Everything About Bitcoin
7 Cryptocurrencies that rule the market
Cryptocurrencies seem to be the new big thing at the threshold of the Industrial revolution 4.0 and the digital transformation of the entire human world.
Digital money has turn...
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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 […]
ELI5 Proof of Stake (PoS) – How does PoS work?
In the cryptocurrency universe, Proof of Stake (PoS) is one of the most popular alternatives to the Proof of Work (PoW) family of consensus mechanisms. While PoW systems invest large amounts of energy to make sure transactions are legit, PoS does not require mining hardware. Proof of Stake “miners” (stakers) must lock a financial stake […]
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 […]
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 […]
Concepts In This Page
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 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.
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.
Public Key Encryption
Public Key Encryption is an encryption method by which the encoding and decoding keys are different. AKA asymmetric encryption. Examples include RSA and elliptic curve cryptography (the latter used in Bitcoin and most cryptocurrencies).
Cryptocurrency Transactions (TX's) are the logical object which tie an unspent output to a new input, forming the chain which allows us to control address balances. Transactions are grouped into blocks which, when verified by mining or staking, form the blockchain.
Elon Musk is a serial entrepreneur who co-founded innovative companies such as Paypal, Tesla and SpaceX. His ambitious projects and impressive technical feats have catapulted him to the helm of business innovators.