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SegWit
Segregated Witness, or SegWit, is the name used for an implemented soft fork change in the transaction format of Bitcoin. The formal title "Segregated Witness (Consensus layer)" had Bitcoin Improvement Proposal number BIP141. The declared purpose was to prevent nonintentional bitcoin transaction malleability, allow optional data transmission, and to bypass certain protocol restrictions (such as the block size limit) with a soft fork. It was also intended to mitigate a blockchain size limitation problem that reduces bitcoin transaction speed. It does this by splitting the transaction into two segments, removing the unlocking signature ("witness" data) from the original portion and appending it as a separate structure at the end. The original section would continue to hold the sender and receiver data, and the new "witness" structure would contain scripts and signatures. The original data segment would be counted normally, but the "witness" segment would, in effect, be counted ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Segwit
Segregated Witness, or SegWit, is the name used for an implemented soft fork change in the transaction format of Bitcoin. The formal title "Segregated Witness (Consensus layer)" had Bitcoin Improvement Proposal number BIP141. The declared purpose was to prevent nonintentional bitcoin transaction malleability, allow optional data transmission, and to bypass certain protocol restrictions (such as the block size limit) with a soft fork. It was also intended to mitigate a blockchain size limitation problem that reduces bitcoin transaction speed. It does this by splitting the transaction into two segments, removing the unlocking signature ("witness" data) from the original portion and appending it as a separate structure at the end. The original section would continue to hold the sender and receiver data, and the new "witness" structure would contain scripts and signatures. The original data segment would be counted normally, but the "witness" segment would, in effect, be counted ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitcoin
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 Rus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitcoin Cash
Bitcoin Cash is a cryptocurrency that is a fork of Bitcoin. Bitcoin Cash is a spin-off or altcoin that was created in 2017. In November 2018, Bitcoin Cash split further into two cryptocurrencies: Bitcoin Cash and Bitcoin SV. History Since its inception, Bitcoin users had maintained a common set of rules for the cryptocurrency. On 21 July 2017, bitcoin miners locked-in a software upgrade referred to as Bitcoin Improvement Proposal (BIP) 91, which meant that the Segregated Witness upgrade would activate at block 477,120. Segwit controversially would enable second layer solutions on bitcoin such as the Lightning Network. A key difference of opinion between Bitcoin users was over the running of nodes. Bitcoin supporters wanted to keep blocks small so that nodes could be operated with less resources, while some large block supporters find it acceptable that (due to large block sizes), nodes might only be run by universities, private companies and nonprofits. A group of bitcoin act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UASF
The Bitcoin scalability problem refers to the limited capability of the Bitcoin network to handle large amounts of transaction data on its platform in a short span of time. It is related to the fact that records (known as ''blocks'') in the Bitcoin blockchain are limited in size and frequency. Bitcoin's blocks contain the transactions on the bitcoin network. The on-chain transaction processing capacity of the bitcoin network is limited by the average block creation time of 10 minutes and the original block size limit of 1 megabyte. These jointly constrain the network's throughput. The transaction processing capacity maximum estimated using an average or median transaction size is between 3.3 and 7 transactions per second. There are various proposed and activated solutions to address this issue. Background The block size limit, in concert with the proof-of-work difficulty adjustment settings of bitcoin's consensus protocol, constitutes a bottleneck in bitcoin's transaction pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitcoin Scalability Problem
The Bitcoin scalability problem refers to the limited capability of the Bitcoin network to handle large amounts of transaction data on its platform in a short span of time. It is related to the fact that records (known as ''blocks'') in the Bitcoin blockchain are limited in size and frequency. Bitcoin's blocks contain the transactions on the bitcoin network. The on-chain transaction processing capacity of the bitcoin network is limited by the average block creation time of 10 minutes and the original block size limit of 1 megabyte. These jointly constrain the network's throughput. The transaction processing capacity maximum estimated using an average or median transaction size is between 3.3 and 7 transactions per second. There are various proposed and activated solutions to address this issue. Background The block size limit, in concert with the proof-of-work difficulty adjustment settings of bitcoin's consensus protocol, constitutes a bottleneck in bitcoin's transaction proce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SegWit2x
The Bitcoin scalability problem refers to the limited capability of the Bitcoin network to handle large amounts of transaction data on its platform in a short span of time. It is related to the fact that records (known as ''blocks'') in the Bitcoin blockchain are limited in size and frequency. Bitcoin's blocks contain the transactions on the bitcoin network. The on-chain transaction processing capacity of the bitcoin network is limited by the average block creation time of 10 minutes and the original block size limit of 1 megabyte. These jointly constrain the network's throughput. The transaction processing capacity maximum estimated using an average or median transaction size is between 3.3 and 7 transactions per second. There are various proposed and activated solutions to address this issue. Background The block size limit, in concert with the proof-of-work difficulty adjustment settings of bitcoin's consensus protocol, constitutes a bottleneck in bitcoin's transaction pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transaction Malleability Problem
The transaction malleability problem is a vulnerability in blockchain which can be exploited by altering a cryptographic hash, such as the digital signature used to identify a cryptocurrency transaction. Transaction malleability is considered to be one of the largest ongoing threats to blockchain technology, as it can compromise financial transactions such as Bitcoin and other cryptocurrency transaction, and cause other issues in the network. Discovery The transaction malleability problem became known to the Bitcoin community in 2011. In February 2014, Japanese Bitcoin exchange Mt. Gox revealed that they had been targeted by an exploit in Bitcoin protocol called "Transaction Malleability". At the time, Mt. Gox was the world's largest bitcoin exchange, handling approximately 70% of all bitcoin transactions. The company reportedly lost hundreds of millions of dollars worth of Bitcoin due to this bug. After failing to attract enough investors to offset its losses, Mt. Gox suspended ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cryptocurrency
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities. Individual coin ownership records are stored in a digital ledger, which is a computerized database using strong cryptography to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership. Despite their name, cryptocurrencies are not considered to be currencies in the traditional sense, and while varying treatments have been applied to them, including classification as commodities, securities, and currencies, cryptocurrencies are generally viewed as a distin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Associated Press
The Associated Press (AP) is an American non-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association. It produces news reports that are distributed to its members, U.S. newspapers and broadcasters. The AP has earned 56 Pulitzer Prizes, including 34 for photography, since the award was established in 1917. It is also known for publishing the widely used '' AP Stylebook''. By 2016, news collected by the AP was published and republished by more than 1,300 newspapers and broadcasters, English, Spanish, and Arabic. The AP operates 248 news bureaus in 99 countries. It also operates the AP Radio Network, which provides newscasts twice hourly for broadcast and satellite radio and television stations. Many newspapers and broadcasters outside the United States are AP subscribers, paying a fee to use AP material without being contributing members of the cooperative. As part of their cooperative agreement with the AP, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MIT Media Lab
The MIT Media Lab is a research laboratory at the Massachusetts Institute of Technology, growing out of MIT's Architecture Machine Group in the School of Architecture. Its research does not restrict to fixed academic disciplines, but draws from technology, media, science, art, and design. , Media Lab's research groups include neurobiology, biologically inspired fabrication, socially engaging robots, emotive computing, bionics, and hyperinstruments. The Media Lab was founded in 1985 by Nicholas Negroponte and former MIT President Jerome Wiesner, and is housed in the Wiesner Building (designed by I. M. Pei), also known as Building E15. The Lab has been written about in the popular press since 1988, when Stewart Brand published ''The Media Lab: Inventing the Future at M.I.T.'', and its work was a regular feature of technology journals in the 1990s. In 2009, it expanded into a second building. The Media Lab came under scrutiny in 2019 due to its acceptance of donations fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Digital Currency Group
Digital Currency Group (DCG) is a venture capital company focusing on the digital currency market. It is located in Stamford, Connecticut. The company has five subsidiaries which are '' CoinDesk'', Foundry, Genesis, Grayscale Investments, and Luno. History Digital Currency Group was launched in 2015 by Barry Silbert, a graduate of Emory University who previously was CEO of SecondMarket, Inc. He began investing in blockchain technology companies in 2013. Shortly after SecondMarket’s sale, Silbert formed Digital Currency Group, with Genesis and Grayscale becoming the first of the company’s subsidiaries. In November 2021, the firm announced it would relocate its Manhattan headquarters to Stamford, Connecticut. The governor of Connecticut at the time, Ned Lamont, provided financial incentives for the company to relocate to Stamford, including a $5 million grant from the state government if Digital Currency Group created at least 300 full-time jobs in the state. As of Novembe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unspent Transaction Output
In cryptocurrencies, an unspent transaction output (UTXO) represents some amount of digital currency which has been authorized by one account to be spent by another. UTXOs use public key cryptography to identify and transfer ownership between holders of public/private key pairs. UTXOs are formatted with the recipient's public key, thus restricting the ability to spend that UTXO to the account that can prove ownership of the associated private key. The UTXO can only be spent if it includes the digital signature associated with the public key attached the last time it was sent. Each UTXO represents a chain of ownership implemented as a chain of digital signatures going back to the origin of the coin. This is true whether the coin was created by mining, staking, or another minting procedure defined by the protocol. Bitcoin is an example of a cryptocurrency that uses the UTXO model. An extended version of the UTXO model (EUTXO) is used for the Cardano blockchain. UTXO model vs. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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