Bitcoin is a cryptocurrency located entirely online and unrelated to a central bank. Its origins are surrounded by mystery and very few people. The mining of Bitcoin is done by powerful computers that solve difficult mathematical problems. The luck and the work required by a computer is one of those problems that is like digging gold in the ground while digging in a sandbox. The...

Read More

Lightning Network is a Layer 2 payment protocol that operates over Bitcoin's Blockchain. It enables fast transactions between participating nodes and has been touted as a solution to the Bitcoin scalability problem. It offers a peer-to-peer system for micropayments of cryptocurrency via a network of two-way payment channels without delegation of custody funds, which makes it useful for daily payments, but also allows more advanced...

Read More

Bitcoin works on a P2P network. These are the network nodes on which your transaction will be propagated, but not necessarily the nodes that will confirm your transactions. With your own full node even if a transaction or a block violates consensus rules, it will be absolutely rejected, even if all other nodes you are connected to think that it is valid. The mining node...

Read More

Bitcoin conferences are an important part of the Bitcoin industry, providing a platform for productive discussions on new approaches, technologies and strategies for digital assets. Some Bitcoin conferences are an essential part of the blockchain industry, bringing together the most influential people and specialists to share their ideas. North American bitcoin conferences are considered the industry's most influential gathering, making Montreal an ideal venue for...

Read More

Bitcoin's antifragile protocol and its exponentially growing network effects make it a monster gradually engulfing global economic activity. The latest in these network effects is a second-layer protocol called Lightning Network, which uses the Bitcoin base layer protocol as security. Lightning Network is a second-layer protocol for blockchains designed to reduce transaction volume by processing payments instantly via a peer-to-peer payment channel network. Together, the...

Read More

Any computer that connects to the Bitcoin network is called a node. Nodes that fully check all Bitcoin rules are called full nodes. The most common software implementation of full nodes is Bitcoin Core. Full nodes download each blocks and transactions and check against the Bitcoin consensus rules. If a transaction or block violates consensus rules, then it is absolutely rejected, even if all other...

Read More

The Bitcoin network makes the transmission of funds a real transfer as opposed to copying digital information. An underlying concept of Bitcoin is known as Blockchain. It's a big book of all transactions. The big book itself is stored, like BitTorrent, among all network users. If I sent you 1 bitcoin, the transaction is recorded in the ledger and my balance is deducted from 1...

Read More

The answer to this question is quite simple and is based on the basic economic principles: scarcity, utility, supply and demand. By definition, if something is both rare (scarcity) and useful (utility), it must have value and ask for a specific price, all other things being equal. Like gold, Bitcoin is also rare: its offer is limited. The supply of bitcoin is impacted in two...

Read More

Bitcoin has been designed to increase in value over time. This is because the total amount of bitcoins available will never exceed 21 million coins. For money to be usable when it appreciates more, we must break it down into smaller units. So, if the value of a single bitcoin increases by several thousand dollars, we can still use it to shop for the smallest...

Read More

From cryptocurrency startups to big bitcoin investors, Canadians of all ages are jumping on the bitcoin train. Canada may soon rank among the top cryptocurrency mining destinations in the world, but making money with Bitcoin is much more difficult today. The time of mining using a processor or a standard graphics card is over. As more and more people started mining, the difficulty of solving...

Read More