What is Multisig Technology?

What is Multisig Technology?

We can think of Bitcoin like cash. If I have 100 Bitcoin, they’re all in a Bitcoin address, and that Bitcoin address has a corresponding private key. If I have that private key, I can spend that $100. But that is a lot of power to put in just one little string of letters and numbers. That if I lose, that if I have stolen from me, hacked, all the…

Probability in Bitcoin Mining: The Hashing Function

Probability in Bitcoin Mining: The Hashing Function

The only way to send money electronically has always been to rely on a centralized intermediary.Say, someone like PayPal.How do we randomly select a miner amongst all the miners on the network to play thisrole, to be kind of like PayPal for a short,ten-minute period?Well, it’s actually through hash functions.A hash function is a mathematical function.It’s rather like what you would have learned in grade school, just more complicated.You take…