What Is Bitcoin Miniscript?
When you perform a bitcoin transaction, you’re instructing a bitcoin wallet to execute a command on your behalf and provide it with a few parameters, such as the public address you want to send to, the amount you want to send, the UTXO you wish to use, the fee you’d like to pay miners to […]
What Are Bitcoin Ephemeral Anchors?
When you store wealth in bitcoin, eventually, you’re going to have to do an on-chain transaction. This is the process where you sign over rights to bitcoin, to move it from one wallet to another. To perform a valid transaction must set the amount, provide a signature from their private key, pay a fee to […]
What Is A Bitcoin OP_VAULT?
Bitcoin is the first digital-only asset that cannot be duplicated, which is a concept that many people struggle to come to terms with; how can something that only exists as text on a database has value? Let alone be resistant to copying? One way to come to terms with this new form of wealth storage […]
Why Does Bitcoin Have Transaction Fees?
All bitcoin transactions are permanently recorded on the blockchain, maintained with a copy on all full nodes. While recording transactions and keeping an archive of transaction history is handled by the nodes, adding to the chain goes through a different process. Confirming and securing new transactions on the network requires highly specialised computer hardware called […]
12 Tips For Keeping Bitcoin On Your Smartphone
The smartphone has replaced many devices, from cameras, voice recorders, and GPS navigation, torches, as well as our primary access point to the internet. They’ve become more than a simple communication device for making calls and sending texts; with bitcoin, a smartphone can be your bank. There’s little rest for your hard-working smartphone. If you’re […]
What Are Wumbo Lightning Channels?
Bitcoin’s Lightning Network has reached significant milestones as it continues to provide bitcoin users with a scaling method ideal for micropayments and programmable payments. The lifeblood of the Lightning network is the amount of channels and the size of channels, all working in unison to create a mesh network to settle payments instantly. As more […]
What Is A Bitcoin Off-Chain Transaction?
Bitcoin uses a blockchain as a method of recording all transactions; this distributed ledger is held in consensus by thousands of nodes run by individuals and institutions across the globe. All bitcoin can be viewed on the blockchain, along with the public addresses that hold them and transaction history. All Bitcoin transactions recorded on the […]
What Is Bitcoin Block Time?
Creating a decentralised network that anyone can plug into to either verify transactions, commit transactions to the database, or secure transactions to the ledger requires a blockchain. The blockchain allows you to verify exactly what is going on in the network, but since the chain is not stored but distributed, all copies of the ledger […]
What Is Simple Payment Verification?
To keep the bitcoin protocol running smoothly and protect the network, proof of work is required for security, fraud prevention, and trust-building. Independent data processors (miners) cannot mislead about a transaction because of its security. Proof of work is also used to protect bitcoin’s transaction history while making data changes more difficult over time. Once […]
What Is Faraday?
Bitcoin allows you to become your own bank, you custody your funds, you are the only one that can proof ownership, and you’re the only one that can move the funds. It’s a revolutionary way to manage your wealth, and we’re still getting to grips with it. While the bitcoin base-chain lays the foundation for […]