Blockchain 101 Ep 64 – Bitcoin giving birth?
Blockchain 101 Ep 61 – Why does #Bitcoin need to scale?
from the Bitcoin Community. If any solution receives enough hashrate support it will be activated, and the Bitcoin network avoids a fork. However, Bitcoin has no central authority, making it hard to reach a consensus. Without enough hash rate support, a blockchain fork occurs, giving rise to a variety of Bitcoin fork coins. Bitcoins holders […]
Bitcoin 2021: FTX & FTX US
Bitcoin’s current block size limit is 1MB and processes about 7 transactions per second. With the constant increase in Bitcoin’s trading volume, the Bitcoin Network finds it difficult to process transaction records fast, resulting in network congestion. The Bitcoin Blockchain receives thousands of transactions on the Blockchain, leading to an increase in transaction fees as […]
Blockchain 101 Ep 41 – What’s the relationship between Bitcoin and blockchain?
Tristan Yver from FTX gives a presentation on FTX and FTXUS. ●▬▬▬▬▬▬Trade on FTX▬▬▬▬▬▬▬▬● FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. We strive to develop a platform robust enough for professional trading firms and intuitive enough for first-time users. […]
Blockchain 101 Ep 40 – Can I use #Bitcoin as a form of payment?
Blockchain is Bitcoin’s underlying technology, and Bitcoin was its very first application. As mentioned before, each Bitcoin transaction is recorded on a decentralized ledger, which is the blockchain. Using a physical ledger book as an analogy for blockchain, each block is like a page of the book. A new page is added to it every […]
Blockchain 101 Ep 38 – Why use #Bitcoin wallets?
As a digital currency, #Bitcoin is an accepted payment method in countries such as Japan and Germany. Most merchants accept Bitcoins through a third-party payment processor. Customers first pays using Bitcoins, then the payment processor will take the Bitcoins and convert it to fiat, so that the merchants will receive the payment in fiat instead […]
Blockchain 101 Ep 27 – Evolution of the #Bitcoin mining rig
Bitcoin is a peer-to-peer electronic cash system that is entirely virtual and can be stored in a Bitcoin wallet. A bitcoin wallet stores the information of your Bitcoin, such as the Bitcoin address (like your bank account number), and your private key (like the pin code for your ATM card). Like how our physical wallets […]
Blockchain 101 Ep 24 – How to mine #Bitcoin?
Ever since the creation of Bitcoin, Bitcoin mining has gone through four stages of change: CPU mining, GPU mining, Specialized Mining Chips (ASIC), Mining pools January 3rd, 2009, Bitcoin’s creator Satoshi Nakamoto mined the first batch of Bitcoins using a PC CPU. As more people accept Bitcoins, more miners started to appear, increasing the network’s […]
#Blockchain 101 Ep 22 – #Bitcoin Change Address
Bitcoin is produced through mining. Every 10 minutes, miners compete to solve a complex math problem. Whoever finds the answer first, mines the block, and receives Bitcoins as a block reward. In the early days, mining can be done using CPUs. However, with the increasing number of miners, CPUs are no longer powerful enough to […]
Blockchain 101 Ep 21 – The digital signature of #Bitcoin
It is possible to send bitcoins from multiple addresses or send to multiple addresses in one go. For instance, you need to pay Mr. Bull 5 Bitcoins and you only have 1, 2, and 2 Bitcoins in addresses A, B, and C respectively. Neither wallet has enough to pay him. However, you can send him […]
The digital signature can only be generated by the #Bitcoin sender. It’s a series of tamper-proof code. By verifying this code, it proves that the transaction was initiated by the sender and not altered during the process. Digital signature employs Digital Digest and Asymmetric Cryptography. Digital Digest compresses the information to a fixed length of […]