Bitcoin is a peer-to-peer electronic cash system that uses blockchain technology to record transactions. The blockchain consists of a chain of blocks containing transactions. Miners create new blocks approximately every 10 minutes by solving proof-of-work puzzles. Bitcoin uses economic incentives to secure the network, as attacking the network would be more costly than potential gains. Understanding Bitcoin fully requires knowledge across many disciplines like computer science, economics, and law.
A presentation about cryptocurrency Bitcoin and the technology it is built on: Blockchain. Some info about bitcoin mining, mining pools and Satoshi Nakamoto who is the mysterious inventor of this revolutionary technology.
Report on Bitcoin- The cryptocurrency (November 2017)AJSH & Co LLP
•What is a Bitcoin?
•Understanding the basics
•How a blockchain works
•Bitcoin- Good or Bad?
•How to obtain a Bitcoin?
•Acceptability of Bitcoin around the world
•Other Cryptocurrencies
•Investing in Bitcoin
This report discuss about Bitcoin and cryptocurrencies - Understanding, Acceptability and Risks
AJSH & Co. have tremendous experience in the field of chartered accounting and have worked with chartered accounting giants in India and abroad. Please feel free to email our team at E: ankit@ajsh.in , siddhartha@ajsh.in also reachable on Direct numbers +91-98106 61322, +91-9811325395. For more information visit our website:- http://www.ajsh.in .
Bitcoin is a digital, decentralized, partially anonymous currency, not backed by any government or other legal entity, and not redeemable for gold or other commodity. It relies on peer-to-peer networking and cryptography to maintain its integrity. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.
Bitcoin is a cryptocurrency. It is a decentralized payment system and kept alive due to the technology called Blockchain. These are peer-to-peer transactions. These transactions are verified by using a cryptography technology bank. Chain technology keeps the record of the distributed ledger. Bitcoins can be earned as a reward through mining. This currency can be convertible into other currencies, products, and services. Bitcoin has been emerging as a famous digital currency and popularity all over for quick transition. Moreover, bitcoin will be an economic asset because it has profitable results. The purpose of this research study is to explain the complete working of bitcoins technology, applications, and research challenges to be addressed, and the current future international market scope of Bitcoin technology.
Bitcoin was proposed by Satoshi Nakamoto on 31st Oct 2008. It is the pseudonym used by an individual or a collective group of people. In January 2009, the First open-source Bitcoin client was released and the bitcoin network came into existence. Satoshi Nakamoto is an inventor of bitcoin, and blockchain technology. All through it’s a false name. This is how he introduced himself to the internet. Unfortunately, many people think that because Satoshi Nakamoto has invented Bitcoin and the Blockchain technology, he is the owner of those too. The reality is that Satoshi Nakamoto has neither control over the Blockchain nor bitcoin. Therefore, it really doesn’t matter who Satoshi Nakamoto is.
Blockchain is a technology, and its first function was on the platform named bitcoin. Bitcoin is Blockchain. However, Bitcoin itself is only a cryptocurrency that is capable of replacing fiduciary currency. Nevertheless, not that many people will like the idea at first.
A presentation about cryptocurrency Bitcoin and the technology it is built on: Blockchain. Some info about bitcoin mining, mining pools and Satoshi Nakamoto who is the mysterious inventor of this revolutionary technology.
Report on Bitcoin- The cryptocurrency (November 2017)AJSH & Co LLP
•What is a Bitcoin?
•Understanding the basics
•How a blockchain works
•Bitcoin- Good or Bad?
•How to obtain a Bitcoin?
•Acceptability of Bitcoin around the world
•Other Cryptocurrencies
•Investing in Bitcoin
This report discuss about Bitcoin and cryptocurrencies - Understanding, Acceptability and Risks
AJSH & Co. have tremendous experience in the field of chartered accounting and have worked with chartered accounting giants in India and abroad. Please feel free to email our team at E: ankit@ajsh.in , siddhartha@ajsh.in also reachable on Direct numbers +91-98106 61322, +91-9811325395. For more information visit our website:- http://www.ajsh.in .
Bitcoin is a digital, decentralized, partially anonymous currency, not backed by any government or other legal entity, and not redeemable for gold or other commodity. It relies on peer-to-peer networking and cryptography to maintain its integrity. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending.
Bitcoin is a cryptocurrency. It is a decentralized payment system and kept alive due to the technology called Blockchain. These are peer-to-peer transactions. These transactions are verified by using a cryptography technology bank. Chain technology keeps the record of the distributed ledger. Bitcoins can be earned as a reward through mining. This currency can be convertible into other currencies, products, and services. Bitcoin has been emerging as a famous digital currency and popularity all over for quick transition. Moreover, bitcoin will be an economic asset because it has profitable results. The purpose of this research study is to explain the complete working of bitcoins technology, applications, and research challenges to be addressed, and the current future international market scope of Bitcoin technology.
Bitcoin was proposed by Satoshi Nakamoto on 31st Oct 2008. It is the pseudonym used by an individual or a collective group of people. In January 2009, the First open-source Bitcoin client was released and the bitcoin network came into existence. Satoshi Nakamoto is an inventor of bitcoin, and blockchain technology. All through it’s a false name. This is how he introduced himself to the internet. Unfortunately, many people think that because Satoshi Nakamoto has invented Bitcoin and the Blockchain technology, he is the owner of those too. The reality is that Satoshi Nakamoto has neither control over the Blockchain nor bitcoin. Therefore, it really doesn’t matter who Satoshi Nakamoto is.
Blockchain is a technology, and its first function was on the platform named bitcoin. Bitcoin is Blockchain. However, Bitcoin itself is only a cryptocurrency that is capable of replacing fiduciary currency. Nevertheless, not that many people will like the idea at first.
The complete guide to bitcoin and how it is redefining the future of money an...SameerShaik43
The future of money and payments is digital, and Bitcoin has the potential to redefine it. The advent of cryptocurrency has given rise to a new era in the world of finance, one that is characterized by decentralization, anonymity, and security.
https://www.tycoonstory.com/money/the-complete-guide-to-bitcoin-and-how-it-is-redefining-the-future-of-money-and-payments/
Early Retirement Club at Bitcoinsiders! Experience financial freedom sooner with expert guidance on Bitcoin investments. Don't just dream of retiring early, make it a reality with our personalized strategies and community support.
Ask for assistance. Gnashing your teeth in the dark will not get you extra brownie points. It is a sign of strength to ask for assistance and people will respect you for it.
What Are The Key Components Of Bitcoin.pdfMavie Crypto
Bitcoin is a revolutionary way to transfer money that has taken the world by storm. But what are the key components that make it so powerful? In this blog post, we’ll explore the three key components
What Are The Key Components Of Bitcoin.pdfMavie Crypto
Bitcoin is a revolutionary way to transfer money that has taken the world by storm. But what are the key components that make it so powerful? In this blog post, we’ll explore the three key components
Now is a very good time to take an interest in Bitcoin and invest in it. It has been going strong for 10 years and its popularity has soared. In order to make the best returns on Bitcoin investments you need to understand what it really is and how it works.
You also need to know the best way to obtain Bitcoins and the best investment strategies. This guide will show you all of this and more. Many people think that Bitcoin is a scam but it certainly isn’t.
However there have been some scams in the cryptocurrency world and you will find out how to avoid these and stay safe in this guide.
How does the division of Bitcoins work_.pptxBlockchainX
At BlockchainX tech, we help startups, medium-sized enterprises, and large-sized businesses by providing end-to-end blockchain development services such as token creation, token sale distribution, landing page design, whitepaper writing, and smart contract creation. As your business idea is unique your cryptocurrency launch process will also be one of a kind. Our blockchain experts help you analyze your concept to make sure that your idea is effective enough to motivate people for funding. Our experience so far in ICO and blockchain development is unmatched and it allows us to provide stable cryptocurrency solutions that are tailor-made to match your business requirements. Raise your Initial Coin Offering with minimal steps and get professional guidance from our team of blockchain and cryptocurrency experts.
Bitcoin – for some people, this may be something making them excited and sleepless while for some others, it may be the first time they have come across such a term.
Bitcoin is one of the famous and widely used decentralized currency in the world since it's creation. Here is the presentation on Bitcoin will help you understand more about it.
Hope this will help
Bitcoin King of The Coins
This book is an educational book for readers of all ages. Interested in learning about Bitcoin?
Well, look no further. This is the book for you!
Bitcoin, King of The Coins, ebook, Bitcoin King of The Coins
#Bitcoin #KingofTheCoins #ebook #BitcoinKingofTheCoins
Bitcoin is the world's first cryptocurrency, a form of electronic cash. It is the first decentralized digital currency: the system was designed to work without a central bank or single administrator.
I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 9 million members worldwide. To claim your Pi, follow this link https://minepi.com/krishvikram and use my username (krishvikram) as your invitation code.
Step 1. Install the Pi app with above link
Step 2 verify the profile
Step 3 tap on earnings and share your link and increase your earnings
Step 4 verification type the referral code which is mandatory.
Referral code is : krishvikram
The complete guide to bitcoin and how it is redefining the future of money an...SameerShaik43
The future of money and payments is digital, and Bitcoin has the potential to redefine it. The advent of cryptocurrency has given rise to a new era in the world of finance, one that is characterized by decentralization, anonymity, and security.
https://www.tycoonstory.com/money/the-complete-guide-to-bitcoin-and-how-it-is-redefining-the-future-of-money-and-payments/
Early Retirement Club at Bitcoinsiders! Experience financial freedom sooner with expert guidance on Bitcoin investments. Don't just dream of retiring early, make it a reality with our personalized strategies and community support.
Ask for assistance. Gnashing your teeth in the dark will not get you extra brownie points. It is a sign of strength to ask for assistance and people will respect you for it.
What Are The Key Components Of Bitcoin.pdfMavie Crypto
Bitcoin is a revolutionary way to transfer money that has taken the world by storm. But what are the key components that make it so powerful? In this blog post, we’ll explore the three key components
What Are The Key Components Of Bitcoin.pdfMavie Crypto
Bitcoin is a revolutionary way to transfer money that has taken the world by storm. But what are the key components that make it so powerful? In this blog post, we’ll explore the three key components
Now is a very good time to take an interest in Bitcoin and invest in it. It has been going strong for 10 years and its popularity has soared. In order to make the best returns on Bitcoin investments you need to understand what it really is and how it works.
You also need to know the best way to obtain Bitcoins and the best investment strategies. This guide will show you all of this and more. Many people think that Bitcoin is a scam but it certainly isn’t.
However there have been some scams in the cryptocurrency world and you will find out how to avoid these and stay safe in this guide.
How does the division of Bitcoins work_.pptxBlockchainX
At BlockchainX tech, we help startups, medium-sized enterprises, and large-sized businesses by providing end-to-end blockchain development services such as token creation, token sale distribution, landing page design, whitepaper writing, and smart contract creation. As your business idea is unique your cryptocurrency launch process will also be one of a kind. Our blockchain experts help you analyze your concept to make sure that your idea is effective enough to motivate people for funding. Our experience so far in ICO and blockchain development is unmatched and it allows us to provide stable cryptocurrency solutions that are tailor-made to match your business requirements. Raise your Initial Coin Offering with minimal steps and get professional guidance from our team of blockchain and cryptocurrency experts.
Bitcoin – for some people, this may be something making them excited and sleepless while for some others, it may be the first time they have come across such a term.
Bitcoin is one of the famous and widely used decentralized currency in the world since it's creation. Here is the presentation on Bitcoin will help you understand more about it.
Hope this will help
Bitcoin King of The Coins
This book is an educational book for readers of all ages. Interested in learning about Bitcoin?
Well, look no further. This is the book for you!
Bitcoin, King of The Coins, ebook, Bitcoin King of The Coins
#Bitcoin #KingofTheCoins #ebook #BitcoinKingofTheCoins
Bitcoin is the world's first cryptocurrency, a form of electronic cash. It is the first decentralized digital currency: the system was designed to work without a central bank or single administrator.
I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 9 million members worldwide. To claim your Pi, follow this link https://minepi.com/krishvikram and use my username (krishvikram) as your invitation code.
Step 1. Install the Pi app with above link
Step 2 verify the profile
Step 3 tap on earnings and share your link and increase your earnings
Step 4 verification type the referral code which is mandatory.
Referral code is : krishvikram
DevOps and Testing slides at DASA ConnectKari Kakkonen
My and Rik Marselis slides at 30.5.2024 DASA Connect conference. We discuss about what is testing, then what is agile testing and finally what is Testing in DevOps. Finally we had lovely workshop with the participants trying to find out different ways to think about quality and testing in different parts of the DevOps infinity loop.
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Jeffrey Haguewood
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
We believe integration and automation are essential to user experience and the promise of efficient work through technology. Automation is the critical ingredient to realizing that full vision. We develop integration products and services for Bonterra Case Management software to support the deployment of automations for a variety of use cases.
This video focuses on the notifications, alerts, and approval requests using Slack for Bonterra Impact Management. The solutions covered in this webinar can also be deployed for Microsoft Teams.
Interested in deploying notification automations for Bonterra Impact Management? Contact us at sales@sidekicksolutionsllc.com to discuss next steps.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
Software Delivery At the Speed of AI: Inflectra Invests In AI-Powered QualityInflectra
In this insightful webinar, Inflectra explores how artificial intelligence (AI) is transforming software development and testing. Discover how AI-powered tools are revolutionizing every stage of the software development lifecycle (SDLC), from design and prototyping to testing, deployment, and monitoring.
Learn about:
• The Future of Testing: How AI is shifting testing towards verification, analysis, and higher-level skills, while reducing repetitive tasks.
• Test Automation: How AI-powered test case generation, optimization, and self-healing tests are making testing more efficient and effective.
• Visual Testing: Explore the emerging capabilities of AI in visual testing and how it's set to revolutionize UI verification.
• Inflectra's AI Solutions: See demonstrations of Inflectra's cutting-edge AI tools like the ChatGPT plugin and Azure Open AI platform, designed to streamline your testing process.
Whether you're a developer, tester, or QA professional, this webinar will give you valuable insights into how AI is shaping the future of software delivery.
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
The key trends across hardware, cloud and open-source; exploring how these areas are likely to mature and develop over the short and long-term, and then considering how organisations can position themselves to adapt and thrive.
UiPath Test Automation using UiPath Test Suite series, part 3DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 3. In this session, we will cover desktop automation along with UI automation.
Topics covered:
UI automation Introduction,
UI automation Sample
Desktop automation flow
Pradeep Chinnala, Senior Consultant Automation Developer @WonderBotz and UiPath MVP
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Search and Society: Reimagining Information Access for Radical FuturesBhaskar Mitra
The field of Information retrieval (IR) is currently undergoing a transformative shift, at least partly due to the emerging applications of generative AI to information access. In this talk, we will deliberate on the sociotechnical implications of generative AI for information access. We will argue that there is both a critical necessity and an exciting opportunity for the IR community to re-center our research agendas on societal needs while dismantling the artificial separation between the work on fairness, accountability, transparency, and ethics in IR and the rest of IR research. Instead of adopting a reactionary strategy of trying to mitigate potential social harms from emerging technologies, the community should aim to proactively set the research agenda for the kinds of systems we should build inspired by diverse explicitly stated sociotechnical imaginaries. The sociotechnical imaginaries that underpin the design and development of information access technologies needs to be explicitly articulated, and we need to develop theories of change in context of these diverse perspectives. Our guiding future imaginaries must be informed by other academic fields, such as democratic theory and critical theory, and should be co-developed with social science scholars, legal scholars, civil rights and social justice activists, and artists, among others.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf91mobiles
91mobiles recently conducted a Smart TV Buyer Insights Survey in which we asked over 3,000 respondents about the TV they own, aspects they look at on a new TV, and their TV buying preferences.
2. Blockchain
The blockchain is the history of all transactions. It is completely public plaintext information that anyone can audit.
The blockchain consists of a chain of blocks. Each block includes all transactions that were created since the last block.
Miners create blocks. If you are not creating blocks then you aren’t a miner. A “node” in the white paper means a miner. It
does not mean SPV nodes. SPV nodes are users.
A new block is created on average once every ten minutes. The true length of time is random but always averages ten
minutes.
The difficulty of mining a block is adjusted automatically to ensure that it always takes approximately ten minutes to
produce a block.
Miners must produce a proof-of-work (PoW) hash in each block which is a hash starting with a small number of zeros to
prove they have spent real-world resources mining the block.
Proof-of-work is an algorithm for the Handicap Principle. The Handicap Principle is a biological idea that species create
costly signals to indicate health, like a peacock’s tail or the horns of an antelope. The proof-of-work hash is the beautiful
tail of the miner.
3. Law
Bitcoin is an evidence system that brings law to the internet.
Bitcoin is not anarchist. Bitcoin is designed to operate in a system of laws.
Bitcoin works because the law works. If you need to, such as when a counterparty commits fraud, you can use the
immutable evidence from the blockchain in court.
Bitcoin does not work in an anarchist system because contracts are not enforceable and anyone can change the rules at
any time. The rules are only set in stone insofar as contracts are enforceable, which requires law.
Bitcoin makes it easier to follow existing regulations in business. For instance, Sarbanes-Oxley requires public companies
to keep immutable accounting records. Bitcoin makes this truly possible for the first time, if utilized properly, by making it
impossible to have two sets of books.
Bitcoin makes it easier for governments to collect taxes, if utilized properly, by making all tax payments transparent.
Bitcoin makes it easier to hold governments accountable, if utilized properly, by making tax collection transparent and
auditable by the people.
4. Computer Science
Bitcoin is Turing Complete, which means it can compute any number. It can do anything that any computer can do.
Each transaction in Bitcoin has multiple inputs and multiple outputs.
An output has a value of satoshis (one satoshi is one hundred millionth of a bitcoin) and a script, sometimes called a
locking script.
An input contains a reference to an earlier output and includes a script that is sometimes called an unlocking script.
To check an input for validity, execute the input script, and then execute the linked output script. If the return value is not
false, then the input is valid.
A transaction is valid if all inputs are valid and if the transaction satisfies other sanity checks such as that they do not
create Bitcoin out of thin air.
There is one case where a transaction can create Bitcoin out of thin air, which is if it is the first transaction in a block.
These are called coinbase transactions and they are where miners get the mining reward.
5. Computer Security
There is no such thing as perfect security. Security is always and everywhere economic. An economically secure system is a system that is more costly to
attack than the gain from attacking it.
Bitcoin is economically secure because it costs more to attack it than the gain from attacking it.
Quantum computers are not a threat to Bitcoin. Firstly, because they are unlikely to be commercially viable any time soon.
And secondly, because quantum computers cannot crack hash functions, public keys can simply be hidden when they are not needed, and can store an
amount of value that is lower than the cost of cracking them when they must be revealed.
Public keys should never be re-used on the blockchain both for privacy and to deter cracking attempts.
Proof-of-work is not a security mechanism.
Proof-of-work is a mechanism to de-anonymize miners. Miners cannot be anonymous because they must use large data centers to be competitive which
always have discoverable locations in the real world through the use of traditional network scanning tools.
Bitcoin is decentralized because it has no central point of failure, not because everybody runs a node.
Users run SPV wallets which track the block headers.
The wide distribution of block headers through the ubiquitous use of SPV is necessary to secure the network because the wide distribution of the block
headers is what enables users to hold miners accountable. Miners cannot commit fraud such as through creating more than 21 million bitcoin not because
everyone runs a node but because everyone has the block headers and can prove if the miners do commit fraud.
6. Economics
Bitcoin is an economic system because the security and functioning of the system uses economic incentives.
The miners are independent businesses that compete to earn more bitcoin for processing transactions. Better miners are
more profitable.
Pre-consensus is incompatible with Bitcoin beacause it creates collaboration between miners which ruins their
independendence and creates a cartel which is a central point of failure.
There are and will always be a small number of large miners and a large number of small miners. This is called the
Pareto distribution or the 80/20 rule.
There is a fixed supply of bitcoin, approximately 21 million, with a variable price. There is no way to fix the price to any
real-world asset without creating a central point of failure, so a fixed supply instead is the only solution.
Bitcoin is decentralized because anybody can run a node, not because everybody does run a node.
7. Networks
The miners form a small world graphic, meaning each miner connects to every other miner.
The users, or SPV nodes, form something like a mesh network, because every user is connect to some subset of other
users directly but not all.
Theoretically, the miners and users form a Mandala network, which has a highly connected central core (the miners) and
a lightly connected outer shell (the users).
In practice, the network structure resembles a Mandala network, but the true network structure is determined by whoever
the miners and users are actually connected to.
8. Identity
Bitcoin is private, but not anonymous. Bitcoin does not require identity for micropayments. But Bitcoin does require
identity for moderate or large payments.
Bitcoin is private because identity information is not included on the blockchain. Best practice is not to re-use addresses
and to not merge outputs. If this best practice is followed, it is very difficult to infer real-world identity from public data. As
the network grows, it becomes even more difficult to infer real-world identity like finding a needle in a haystack that gets
bigger and bigger with time.
Bitcoin does not include a solution to identity. Identity is firewalled from the blockchain and must be provided by a
separate system.
Moderate and large transactions require the exchange of identity information for the security and compliance of the
parties involved.
Bitcoin is not anonymous for anything other than micropayments because fiat gateways always require identity to be
revealed.
9. History
David Chaum published some of the original ideas in the 1980s. DigiCash was David Chaum’s company. Chaum’s work
also goes by the name Chaumian eCash.
There were many peer-to-peer electronic cash systems in the 1990s and 2000s, including Mojo Nation.
Bitcoin is very similar to the 1999 solution by Massias et al. (see reference #2 in the white paper) except where the
network itself distributes the block headers instead of publishing them in a separate newspaper.
Satoshi Nakamoto published the Bitcoin white paper on October 21, 2008.
The Bitcoin network was started with satoshi Nakamoto nodes in January, 2009.
The ticker symbol representing Bitcoin on exchanges is BSV. BTC is not Bitcoin.
10. Future
The most important next step in the future of Bitcoin is the widespread adoption of SPV wallets in the ecosystem for
security and scalability.
Alongside SPV, we must implement an identity system to enable the use of real-world identity where appropriate, such as
large payments and exchanges.
Once these new protocols are developed and adopted, advanced applications can be created such as Internet of Things
(IoT), supply chain, finance, and anything else at the intersection of value and communication.
11. Conclusion
Bitcoin is a peer-to-peer electronic cash system. Bitcoin is extremely interdisciplinary and in order to understand the full
scope of Bitcoin, one must learn many different fields of study. Those fields of study include but are not limited to
computer science, economics, and law. Few people have already mastered all of the background material necessary to
understand Bitcoin, and as such most students of Bitcoin should expect to spend years studying material in order to have
a complete understanding.