Bitcoin Transaction Transaction Transaction is references previous transaction outputs as new transaction inputs and dedicates all input Bitcoin values to new outputs (input money == output money) Transactions are not encrypted Standard tx outputs nominate address, and the redemption of any future inputs requires a relevant signature in Bitcoin transaction, if money left, must spend it to myself..
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Symmetric Key Cryptography Cyptographic Hash Functions Cyrptographic Hash Functions are used to guarantee the integrity of data. Cytographic Hash Function H stasfies the following properties: Message Digest Preimage Resistant: it must be one way Collision Resistant It's often used as a component of other cryptography algorithms used to compress a large data to a smaller one used to generate a de..
HashCash Hashcash CPU cost-function computes a token which can be used as a proof-of-work. Cost-functions Cost-function should be efficiently verifiable, but parameterisably expensive to copute MINT() Client must compute a token(denoted T) using a cost-function MINT() which is used to create tokens to participate in a protocol with a server VALUE() Server will check the value of the token using ..
Types of Blockchain Applications Cryptocurrency Problems of Trusted Third Party - Financial Institute highly relies on trusted third parties A third party became a single point of failure Delay leaves customers at risk, temporarily unsure about the state Attacks on concentrated data Third Parties' monopolies Blockchain can reduce the risk of the trusted third-party authority in a situation where..
Simple Introduction to Blockchain History Satoshi Nakamoto released the white paper in 2008: "purely peer-to-peer version of electronic cash" Bitcoin was offered up to the open source community in 2009 Around 2014, blockchain technology becomes more than cryptocurrency In 2015, Ethereum launched: can be used to build smart contract Cryptocurrency is just application using blockchain. Blockchain ..
