SPV, or Simplified Payment Verification, is a type of security used by Bitcoin users. Under this system, Bitcoin users can verify that a transaction is valid without having to download the entire blockchain. This is possible because each block in the blockchain contains a hash of the previous block. As
Bitcoin coin control is a feature that allows users to manage their UTXOs. By using this feature, users can select which bitcoins they want to spend and which ones they want to keep in their wallet. This can be useful for people who want to keep track of their UTXOs,
Ethereum Merge Means Stronger Bitcoin Future The Ethereum network finally transitioned from proof-of-work (PoW) to proof-of-stake (PoS), and this has caused a bit of turbulence in the cryptocurrency world. Ethereum’s market price has declined sharply, and there is now a $10 billion gap in mining hardware between Ethereum and Bitcoin.
PayNyms are a secure and private way of sending and receiving bitcoin using BIP47 Reusable Payment Codes. PayNyms allows you to add your friends to your wallet contact list for regular sending and receiving without revealing your balance or transaction history. A PayNym is created by taking a valid BIP47
A cold storage wallet is a wallet that is not connected to the internet. This means that it is much less vulnerable to hacking than a hot wallet, which is a wallet that is connected to the internet. Cold storage wallets can be either physical or digital, and they are
A PSBT is a Partially Signed Bitcoin Transaction. The main difference between a PSBT and a regular Bitcoin transaction is that with a PSBT, the signing of the transaction is done offline. This allows for greater security, as the private keys never need to come into contact with an online
In the cryptocurrency world, there are many different types of addresses. Bech32 is a newer address format that is slowly gaining popularity. In this blog post, we will discuss what Bech32 addresses are, how they differ from other address formats, and their benefits. We will also touch on how to
KYC stands for “know your customer,” and it’s a set of guidelines that financial institutions use to identify and verify their customers. In the context of Bitcoin, KYC compliance usually takes the form of exchanges requiring users to submit government-issued ID before they’re allowed to buy or sell Bitcoin. However,
Seed phrases, also known as mnemonic phrases or mnemonic seeds, are lists of words used to generate private keys for cryptocurrency wallets. Bitcoin seed phrase generally have 12 words, though they can have anywhere from 4 to 24. The number of words in a seed phrase varies depending on the
A Bitcoin Hashed TimeLock Contract (HTLC) is a smart contract that allows two parties to securely send and receive payments in Bitcoin or other cryptocurrencies. The sender locks up an amount of cryptocurrency in an HTLC, which can only be released by the receiver if they provide a valid cryptographic
