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Segregated Witness
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 a ... [...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] |
Merkle Tree
In cryptography and computer science, a hash tree or Merkle tree is a tree in which every "leaf" (node) is labelled with the cryptographic hash of a data block, and every node that is not a leaf (called a ''branch'', ''inner node'', or ''inode'') is labelled with the cryptographic hash of the labels of its child nodes. A hash tree allows efficient and secure verification of the contents of a large data structure. A hash tree is a generalization of a hash list and a hash chain. Demonstrating that a leaf node is a part of a given binary hash tree requires computing a number of hashes proportional to the logarithm of the number of leaf nodes in the tree. Conversely, in a hash list, the number is proportional to the number of leaf nodes itself. A Merkle tree is therefore an efficient example of a cryptographic commitment scheme, in which the root of the tree is seen as a commitment and leaf nodes may be revealed and proven to be part of the original commitment. The concept of a hash ... [...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, most ... [...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] |
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 from ... [...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 November ... [...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] |
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 ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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] |
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] |
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] |
Proof Of Work
Proof of work (PoW) is a form of Cryptography, cryptographic proof (truth), proof in which one party (the ''prover'') proves to others (the ''verifiers'') that a certain amount of a specific computational effort has been expended. Verifiers can subsequently confirm this expenditure with minimal effort on their part. The concept was invented by Moni Naor and Cynthia Dwork in 1993 as a way to deter denial-of-service attacks and other service abuses such as spam (electronic), spam on a network by requiring some work from a service requester, usually meaning processing time by a computer. The term "proof of work" was first coined and formalized in a 1999 paper by Markus Jakobsson and Ari Juels. Proof of work was later popularized by Bitcoin as a foundation for Consensus (computer science), consensus in a permissionless decentralized network, in which miners compete to append blocks and mint new currency, each miner experiencing a success probability proportional to the computationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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