Categories
Bitcoin

Understanding Blind Signatures by Ethan Heilman

Introduction Blind Signatures are a signature scheme which allows one party to sign a message without learning the message they signed. History – Invented by David Chaum in 1982 for an early centralized digital currency called anonymous ecash. This was an anonymous ecash that enabled a trusted party (like a bank) to issue and redeem […]

Categories
Bitcoin

Understanding Cryptography for Bitcoin by John Newberry

The following is a lecture by John Newberry. Essentially, it’s a lecture that describes the proofs and mathematics underpinning the calculations for private keys and public keys. I’ve followed along and wrote down everything that has been said here, in order to get a better grasp on elliptic curves, finite fields, etc. A transaction consists […]

Categories
Bitcoin

The Incentives of Bitcoin Miners

I came across this interesting question on Bitcoin Stack Exchange. What happens to the bitcoin network when the miners all stop in the future?What happens to the bitcoin network when the miners all stop, years in the future after all the bitcoins have been mined? How will the network continue to function? Won’t bitcoins then […]

Categories
Bitcoin

Bitcoin Project #1: Testnet Wallet

So, I will be the first to admit that in this journey of learning about Bitcoin, I have sorta been all over the place. Going from reading books, to reading documentation, to reading articles, to trying to hack something together, to failing, to reading, back to hacking, back to failing, on and on. This time, […]

Categories
Bitcoin

Bitcoin Prep Work: Preventing Softforks

What I Am Reading: Can soft-forks be prevented? and linked within – a discussion to the mailing list. Notes At first, I really didn’t get this at all. I read that it was impossible, but I didn’t understand how. As I read the mailing list, I got progressively more confused. I really didn’t understand what […]

Categories
Bitcoin

Bitcoin Prep Work: Introduction to Bitcoin Blockchain

What I Watched: SF Bitcoin Devs Seminar: A Special Presentation By Matt Corallo of Blockstream Link to slides. Notes Bitcoin is mostly focused on preventing double-spends using proof-of-work. Proof-of-work is based off of Hashcash. Hashcash is a poisson process. A Bitcoin without block reward would end up as a disincentive miners to act honestly. Confirmations: […]

Categories
Bitcoin

Bitcoin Prep Work: Bitcoin’s Academic Pedigree

What I Read I read Bitcoin’s Academic Pedigree. Notes Was very interesting to trace Bitcoin back to its original ideas. This paper was not very technical, but was rather a sort of technical recap. Any advanced topics were spelled out quite easily, even something seemingly complicated like Blockchain is described in very simple language. This […]

Categories
Bitcoin

Bitcoin Prep Work: If I’d Known What We Were Starting

What I Read In this version of Bitcoin Prep Work, I read Ray Dillinger’s: If I’d Known What We Were Starting. Notes I’ve read this before, recently actually. It was great to re-read it. You can sense the admiration Ray has for Satoshi. He brings out, in great lengths, the characteristics of Satoshi and how […]

Categories
Bitcoin

Bitcoin Prep Work: Whitepaper

What I Read I read the Bitcoin whitepaper. It has been a long time since I’ve read the Bitcoin whitepaper, and this time I actually understood it! I should have re-read it a while ago. Notes Definition of A Bitcoin A bitcoin is defined as a chain of digital signatures. Specifically, you sign the previous […]

Categories
Bitcoin

Building Bitcoin: Testnet Compatibility and Failing

Since the last post, I’ve done close to nothing. My main focus has been trying to make this half-done thing into a testnet ready environment. My first focus is trying to get these addresses to be testnet compatible. That has NOT gone as well as I anticipated. I’m screwing something up, but I have no […]