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Lightning Network
The Lightning Network (LN) is a "layer 2" payment protocol layered on top of Bitcoin (and other blockchains and cryptocurrencies). It is intended to enable fast transactions among participating nodes and has been proposed as a solution to the bitcoin scalability problem. It features a peer-to-peer system for making micropayments of cryptocurrency through a network of bidirectional payment channels without delegating custody of funds. Normal use of the Lightning Network consists of opening a payment channel by committing a funding transaction to the relevant base blockchain (layer 1), followed by making any number of Lightning Network transactions that update the tentative distribution of the channel's funds without broadcasting those to the blockchain, optionally followed by closing the payment channel by broadcasting the final version of the settlement transaction to distribute the channel's funds. To settle the payments the channel must be closed. To initiate this process o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lightning Network Protocol Suite
Lightning is a naturally occurring electrostatic discharge during which two electrically charged regions, both in the atmosphere or with one on the ground, temporarily neutralize themselves, causing the instantaneous release of an average of one gigajoule of energy. This discharge may produce a wide range of electromagnetic radiation, from heat created by the rapid movement of electrons, to brilliant flashes of visible light in the form of black-body radiation. Lightning causes thunder, a sound from the shock wave which develops as gases in the vicinity of the discharge experience a sudden increase in pressure. Lightning occurs commonly during thunderstorms as well as other types of energetic weather systems, but volcanic lightning can also occur during volcanic eruptions. The three main kinds of lightning are distinguished by where they occur: either inside a single Cumulonimbus cloud, thundercloud (intra-cloud), between two clouds (cloud-to-cloud), or between a cloud and t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lightning Network Explained
Lightning is a naturally occurring electrostatic discharge during which two electrically charged regions, both in the atmosphere or with one on the ground, temporarily neutralize themselves, causing the instantaneous release of an average of one gigajoule of energy. This discharge may produce a wide range of electromagnetic radiation, from heat created by the rapid movement of electrons, to brilliant flashes of visible light in the form of black-body radiation. Lightning causes thunder, a sound from the shock wave which develops as gases in the vicinity of the discharge experience a sudden increase in pressure. Lightning occurs commonly during thunderstorms as well as other types of energetic weather systems, but volcanic lightning can also occur during volcanic eruptions. The three main kinds of lightning are distinguished by where they occur: either inside a single thundercloud (intra-cloud), between two clouds (cloud-to-cloud), or between a cloud and the ground (cloud- ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kraken (company)
Kraken is a United States–based cryptocurrency exchange and bank, founded in 2011. It was one of the first bitcoin exchanges to be listed on Bloomberg Terminal and is reportedly valued at $10.8 billion USD, as of mid-summer 2022. As of 2020, Kraken had US$1.1 billion in revenue. History Kraken was co-founded in 2011 by Jesse Powell, an alumnus of California State University, Sacramento with Thanh Luu. Powell was a consultant for Mt. Gox in resolving a security issue, and began working on Kraken as a replacement anticipating its death; Gox would indeed collapse in 2014, failing security audits. In September 2013, Kraken was launched, offering Bitcoin, Litecoin, and euro trades initially before going on to add additional currencies and margin trading. A few months earlier, Kraken had joined other US Bitcoin players to form the "Committee for the Establishment of the Digital Asset Transfer Authority" as the self-regulatory group of the industry. In March 2014, Kraken received ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitfinex
Bitfinex is a cryptocurrency exchange owned and operated by iFinex Inc registered in the British Virgin Islands. Their customers' money has been stolen or lost in several incidents, and they have been unable to secure normal banking relationships. Research suggests that price manipulation of bitcoin on Bitfinex accounted for about half of the price increase of bitcoin in late 2017. History Bitfinex was founded in December 2012 as a peer-to-peer Bitcoin exchange, offering digital asset trading services to users around the world. Bitfinex initially started as a P2P margin lending platform for Bitcoin and later added support for more cryptocurrencies. In May 2015 the exchange was hacked, which resulted in loss of 1,500 Bitcoins or about $400,000 USD of their customers assets. In October 2018, Bitfinex again had serious difficulties with its banking relationships. Its management stated "Bitfinex is not insolvent on October 7." In June 2016, the U.S. Commodity Futures Trading ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tor (anonymity Network)
Tor, short for The Onion Router, is free and open-source software for enabling anonymous communication. It directs Internet traffic through a free, worldwide, volunteer overlay network, consisting of more than seven thousand relays, to conceal a user's location and usage from anyone performing network surveillance or traffic analysis. Using Tor makes it more difficult to trace a user's Internet activity. Tor's intended use is to protect the personal privacy of its users, as well as their freedom and ability to communicate confidentially through IP address anonymity using Tor exit nodes. History The core principle of Tor, onion routing, was developed in the mid-1990s by United States Naval Research Laboratory employees, mathematician Paul Syverson, and computer scientists Michael G. Reed and David Goldschlag, to protect American intelligence communications online. Onion routing is implemented by means of encryption in the application layer of the communication protocol stack ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Onion Routing
Onion routing is a technique for anonymous communication over a computer network. In an onion network, messages are encapsulated in layers of encryption, analogous to layers of an onion. The encrypted data is transmitted through a series of network nodes called onion routers, each of which "peels" away a single layer, uncovering the data's next destination. When the final layer is decrypted, the message arrives at its destination. The sender remains anonymous because each intermediary knows only the location of the immediately preceding and following nodes. While onion routing provides a high level of security and anonymity, there are methods to break the anonymity of this technique, such as timing analysis. History Onion routing was developed in the mid-1990s at the U.S. Naval Research Laboratory by employees Paul Syverson, Michael G. Reed, and David Goldschlag to protect U.S. intelligence communications online. It was then refined by the Defense Advanced Research Projects A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Smart Contract
A smart contract is a computer program or a transaction protocol that is intended to automatically execute, control or document events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need for trusted intermediators, arbitration costs, and fraud losses, as well as the reduction of malicious and accidental exceptions. Smart contracts are commonly associated with cryptocurrencies, and the smart contracts introduced by Ethereum are generally considered a fundamental building block for decentralized finance (DeFi) and NFT applications. Vending machines are mentioned as the oldest piece of technology equivalent to smart contract implementation. The original Ethereum white paper by Vitalik Buterin in 2014 describes the Bitcoin protocol as a weak version of the smart contract concept as originally defined by Nick Szabo, and proposed a stronger version based on the Solidity language, which is Turing complete. Si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Speed
In everyday use and in kinematics, the speed (commonly referred to as ''v'') of an object is the magnitude of the change of its position over time or the magnitude of the change of its position per unit of time; it is thus a scalar quantity. The average speed of an object in an interval of time is the distance travelled by the object divided by the duration of the interval; the instantaneous speed is the limit of the average speed as the duration of the time interval approaches zero. Speed is not the same as velocity. Speed has the dimensions of distance divided by time. The SI unit of speed is the metre per second (m/s), but the most common unit of speed in everyday usage is the kilometre per hour (km/h) or, in the US and the UK, miles per hour (mph). For air and marine travel, the knot is commonly used. The fastest possible speed at which energy or information can travel, according to special relativity, is the speed of light in a vacuum ''c'' = metres per second ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privacy
Privacy (, ) is the ability of an individual or group to seclude themselves or information about themselves, and thereby express themselves selectively. The domain of privacy partially overlaps with security, which can include the concepts of appropriate use and protection of information. Privacy may also take the form of bodily integrity. The right not to be subjected to unsanctioned invasions of privacy by the government, corporations, or individuals is part of many countries' privacy laws, and in some cases, constitutions. The concept of universal individual privacy is a modern concept primarily associated with Western culture, particularly British and North American, and remained virtually unknown in some cultures until recent times. Now, most cultures recognize the ability of individuals to withhold certain parts of personal information from wider society. With the rise of technology, the debate regarding privacy has shifted from a bodily sense to a digital sense. As the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Granularity
Granularity (also called graininess), the condition of existing in granules or grains, refers to the extent to which a material or system is composed of distinguishable pieces. It can either refer to the extent to which a larger entity is subdivided, or the extent to which groups of smaller indistinguishable entities have joined together to become larger distinguishable entities. Precision and ambiguity Coarse-grained materials or systems have fewer, larger discrete components than fine-grained materials or systems. * A coarse-grained description of a system regards large subcomponents. * A fine-grained description regards smaller components of which the larger ones are composed. The concepts granularity, coarseness, and fineness are relative; and are used when comparing systems or descriptions of systems. An example of increasingly fine granularity: a list of nations in the United Nations, a list of all states/provinces in those nations, a list of all cities in those states, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CheckLockTimeVerify
Bitcoin (abbreviation: BTC; sign: ₿) is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009, when its implementation was released as open-source software. The word "''bitcoin''" was defined in a white paper published on October 31, 2008. It is a compound of the words '' bit'' and ''coin''. The legality of bitcoin varies by region. Nine countries have fully banned bitcoin use, while a further fifteen have implicitly banned it. A few governments have used bitcoin in some capacity. El Salvador has adopted Bitcoin as legal tender, although use by merchants remains low. Ukraine has accepted cryptocurrency donations to fund the resistance to the 2022 Russi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
