Everything You Need to Know About Partially Signed Bitcoin Transactions
Bitcoin is the world’s most popular digital currency, and it has become increasingly important for users to be able to transact online securely. Partially Signed Bitcoin Transactions (PSBT) provide a secure way for users to sign off-chain transactions without exposing their private keys online. This blog will explore the critical features of PSBTs and explain […]
Antminer Safety Tips: How to Avoid Accidents
Antminer safety is a crucial consideration for anyone involved in cryptocurrency mining. Antminer machines are powerful tools that generate heat, consume energy, and create noise. Improper use can result in accidents that may cause damage to hardware or harm to users. Therefore, it is important to follow Antminer safety guidelines to stay safe while using […]
Why Bitcoin is the true digital scarcity, and Blockchain just a database
The unimprovability of Bitcoin is a concept that has become increasingly relevant in the digital age. It refers to Bitcoin’s unique ability to resist changes or improvements, making it an ideal means of exchange and store of value. This is due to its decentralized nature, which makes it nearly impossible for anyone or any group […]
The Risks of ASIC Mining: Is it Worth It?
ASIC mining involves specialized hardware called Application Specific Integrated Circuit (ASIC) miners. These devices are specifically engineered to optimize the process of mining cryptocurrency, allowing users to increase their hashrate and boost their chances of finding blocks and earning rewards. Since ASICs are designed for a specific purpose, they offer significantly better performance than regular, […]
Infected ASICs: A Growing Menace for Crypto Miners Everywhere
As the digital world continues to evolve, so does hackers’ malicious intent with new and more complex viruses. In recent years, we have experienced a sharp rise in mining hardware attacks from hidden malware that steals hash capacities from ASIC owners. This has led to an increase of 4467% in 2018 compared to the previous […]
What is Simple Payment Verification (SPV) In Bitcoin?
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 a result, each block can […]
What is Coin Control?
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, and not link two transactions […]
The Impact of ASIC Mining on the Decentralization of Cryptocurrency Networks
The recent boom in cryptocurrency prices has increased interest in mining. However, many people are unaware of the impact large-scale ASIC (Application-Specific Integrated Circuit) mining can have on the decentralization of these networks. In this blog post, we’ll look at how ASICs are changing the landscape of cryptocurrency mining and what this could mean for […]
Ethereum Merge Means Stronger Bitcoin Future
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. Bitcoin’s future looks stronger than […]
How To Use a Bitcoin PayNym
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 code and applying a special […]
ASIC Mining and Cybersecurity: Protecting Your Rig from Threats
ASIC mining rigs provide great opportunities for mining cryptocurrencies but come with their own set of risks as well. By following some simple cybersecurity tips outlined above and taking proper precautions, miners can help ensure that their rigs remain safe and secure while maximizing profits from cryptocurrency mining operations. Steps to Protect Your Rig from […]
Why Bitcoiners Use Cold Storage Wallets
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 often used to store large […]
What is a Partially Signed Bitcoin Transaction (PSBT)?
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 device. In addition, it allows […]
All About Bech32 Addresses
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 support Bech32 SegWit addresses and […]
Yet another analysis of the energy consumption of Bitcoin Mining
Bitcoin mining is verifying and adding transactions to a public ledger, known as the blockchain. It requires powerful computers to solve very long mathematical problems to earn rewards for miners in the form of Bitcoin tokens. As this process has become more popular, it has come with a cost – energy consumption. Recent reports suggest […]
The Beginner’s Guide to Non-KYC Bitcoin
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, not everyone is comfortable with […]
Methods That WILL NOT Protect Your Bitcoin Seed Phrase
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 wallet you’re using. When you […]
What is a Bitcoin Hashed TimeLock Contract? (Simple Explanation)
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 hash. If the receiver does […]
Can Bitcoin Transactions Be Censored?
Bitcoin is a revolutionary digital currency that operates without needing a central bank or single administrator. It is sent from user to user on the peer-to-peer bitcoin network, and nodes verify its transactions through cryptography. The blockchain, a publicly distributed ledger, stores any transaction that has taken place in the Bitcoin network. This system makes […]
What is a Bitcoin zero-confirmation transaction?
A Bitcoin zero-confirmation transaction is a transaction that has been broadcast to the network but has not yet been confirmed by a miner. When you send a Bitcoin transaction, there’s always a chance that it may not be confirmed by the network. This can be due to some reasons, such as low network capacity or […]
What is a Bitcoin PayJoin and how does it work?
Bitcoin PayJoin is a new way to make payments using Bitcoin. With PayJoin, two people can make a private payment to each other without needing to use a third-party service. Instead, the two people can simply agree on a price and send the appropriate amount of Bitcoin to each other’s wallets. PayJoins can be used […]
The Energy Cost of Bitcoin: Is It Worth the Price?
Bitcoin mining is a process that requires significant energy to power computers to solve complex mathematical equations and secure the blockchain. This energy requirement serves as an essential security measure, helping to protect the integrity of the network and prevent fraud. Additionally, it helps ensure that no single person or entity controls the network, promoting […]
What are Bitcoin channel factories?
Bitcoin channel factories are a type of Bitcoin-based payment system that uses the lightning network to route payments. Channel factories are similar to traditional Bitcoin exchanges, but they are designed to be more efficient and scalable. Bitcoin channel factories use a novel routing algorithm that helps to reduce the amount of traffic on the network […]
What would happen if Satoshi Nakamoto decided to sell all his Bitcoin?
One of the most fascinating aspects of Bitcoin is its anonymity. Satoshi Nakamoto, the creator of Bitcoin, is believed to be a pseudonym and very little is known about the individual or individuals behind this name. This has led to speculation about what would happen if Satoshi Nakamoto decided to sell all of his or […]
What is the Solution to Empty Block Mining? — Introducing Stratum V2
Empty block mining is a technique miners use to increase their chances of finding valid blocks. By sending out empty blocks, they can reduce the time needed to search for a valid nonce and thus increase their profits. The problem with this practice is that it delays the confirmation of transactions, resulting in lost revenue […]
Is ASIC Resistance Necessary for Decentralization in Bitcoin Mining?
ASIC resistance is a concept that has gained traction in the cryptocurrency community. It refers to making mining on specific cryptocurrencies more difficult for ASICs by introducing algorithms that are resistant to being solved by these specialized computers. This approach aims to make it so miners must use CPUs or GPUs, which are much less […]
Autonomy and Freedom: Why Protecting Privacy Is Essential
The privacy case is strong, supported by both technology and law. Technology can protect individuals from having their data accessed or misused by others, while laws can limit what those who have access to the data can do. Ultimately, privacy helps people maintain control over their information and gives them a sense of security in […]
The Benefits of Keeping Your Bitcoin Keys Offline
Are you looking for a secure way to store the keys to your bitcoin? If so, then you should consider investing in a hardware wallet. A hardware wallet is a physical device that stores your private keys and allows you to securely manage your cryptocurrency assets. But why should you choose a hardware wallet over […]
Understanding the Depths of Bitcoin Security and How it Works
Bitcoin security is a term used to describe the measures taken to protect and secure bitcoin transactions. It involves protecting against attacks that could lead to double spending, theft of funds, or other malicious activities. Bitcoin security also includes making sure that users’ private keys are kept safe, as well as ensuring that the network […]
Modeling Bitcoin Miner Threats in 5 Steps
Bitcoin mining has become a profitable venture. However, it requires extra layers of privacy even a Security Socket Layer (SSL) cannot provide. Ask yourself these questions when protecting your equipment and data against hackers. 1. What assets, physical and digital, do I want to protect? Keep in mind that data breaches can damage your hardware […]