Bitcoin Q&A: Data integrity and validation of keys

Bitcoin Q&A: Data integrity and validation of keys

“What does the following sentence mean? ‘when transactions are broadcast to the network,the SHA-256 function is used to verify data integrity.’”Well, cryptographic hashes offer the ability to produce a fingerprint [of a piece of data].A hash functions [produces] a cryptographic digest.[You can provide] an arbitrary length data stream of bits [as input] and it will convert it to a fixed length [output].For example, SHA-256 will take any amount of data…

“It’s Q4 2016, So Where Is Bitcoin’s Consumer Demand?” — Dash on NASDAQ

“It’s Q4 2016, So Where Is Bitcoin’s Consumer Demand?” — Dash on NASDAQ

Hello, I’m Andrew Johnson and welcome to DASH: Detailed.Much as I know you wanted to hear my genius musings about Dash today,it turns out that other — perhaps even more timely comments have just been madeon Nasdaq of all places.Ryan Taylor, considered Director of Finance at Dash, former hedge fundanalyst and payments industry advisor has written this op-ed piece publishedat Nasdaq.com and I’m going to read it for you today….

Bitcoin Q&A: Re-using addresses

Bitcoin Q&A: Re-using addresses

“Why would one use multiple addresses?”Carol, the reason you would [want to] use multiple addresses is primarily for privacy.If you use a single address, then every payment you receive and send can be [correlated] on the blockchain.If you keep using that address, presumably all transactions produced by [it] are related to you.You own it, therefore you’re making the transactions.If you make a transaction to any kind of company or organization…

Bitcoin and the Black Hole

Bitcoin and the Black Hole

Welcome, welcome to One Minute Crypto!I’m your host, Chronos, and today we’re going to talk about a pretty strange concept: blackholes in cryptocurrency.In physics, a black hole is a thing that is so dense, nothing can escape its gravity.It’s like a one-way door: once you’re in, there’s no way out.It sounds weird, but bitcoin addresses have this concept, too: money goes in, and it can’tcome out.Let me explain.To create an…

Bitcoin Q&A: Directed acyclic graphs (DAGs) and IOTA

Bitcoin Q&A: Directed acyclic graphs (DAGs) and IOTA

“What is your opinion on directed acyclic graphs (DAGs)? [Do they] truly have the potential to replace…open and decentralized blockchains? Or is it vaporware?”I don’t think the question is an ‘either / or.’I don’t think directed acyclic graphs, tangles, or other similar formulations, can replace proof-of-workor open decentralized blockchains. I think that’s because proof-of-work brings some very specificand very valuable characteristics that simply cannot be achieved with other consensus algorithms.Or,…

Feeling Lucky? Steal My Bitcoin!

Feeling Lucky? Steal My Bitcoin!

Welcome, Welcome to One Minute Crypto!I’m your host, Chronos, and today we’re going to discover just how lucky you have to beto keep your bitcoin secure.You may not realize this, but the bitcoin network depends heavily on the concept ofluck just to work properly.I’ve met a few people who tell me that “luck” doesn’t exist, so here’s my challenge to you:steal my bitcoin.What do I mean?Well, basically, bitcoin is secured…

Hostile Websites. Fake Electrum & BIP39 tools. Phishing Scams targeting Electrum, Ledger & Trezor

Hostile Websites. Fake Electrum & BIP39 tools. Phishing Scams targeting Electrum, Ledger & Trezor

okay so on today’s episode of crypto scam which we’re looking at dodgywebsites and this one is something that is just constantly constantly a threatin the crypto space and you see examples of this on reddit all the time and I’vegot two quick examples here and they were both essentially the same scammerthe same website changed the tool that was hosting and what we’ve got here is ascammy version of…

Peercoin Primer #2: Security

Peercoin Primer #2: Security

Hi, I’m Chronos, and welcome to Part 2 of the Peercoin Primer.Peercoin is one of the world’s most established cryptocurrencies, and each video in this serieswill explore a different aspect of it.In this video, we’re going to take a deep dive into the security model of Peercoin:what is Proof of Stake, and how exactly does it work on the Peercoin blockchain?First, we should define some terms.In a proof-of-work blockchain like…

Bitcoin Q&A: Nonces, mining, and quantum computing

Bitcoin Q&A: Nonces, mining, and quantum computing

“Who generates the nonce?”“If my pool generates the random number, how is it protected from us knowing it?”“What makes that random number tamper-proof?”“Does the whole network contribute to the random number?”All right. The nonce, the random number, is calculated independently, billions of times per second by each…mining hardware system.When [someone] is mining, they are coordinating with a very large number of computers over a network.These mining computers calculate billions of…

Bitcoin Q&A: What is the Halvening?

Bitcoin Q&A: What is the Halvening?

“Why the sudden halving every four years? I understand that the Bitcoin reward per block…must be a decreasing function, such that the sum of all rewards would be finite, [with a total of] 21 million coins,after 140 hundred years.”“But why not choose a [more] simple decreasing function that would smoothly go to zero [subsidy]?”“Isn’t it inconvenient that, every four years, the profitability of miners suddenly decreases?”“[Would] fees [need to] suddenly…