From c4034832edc751bed693532c68f55c6e6da8217a Mon Sep 17 00:00:00 2001 From: Jan Sekanina Date: Fri, 22 Jul 2022 02:11:11 +0200 Subject: [PATCH] feat: adding texts to repository --- texts/.sources.txt.swp | Bin 0 -> 12288 bytes texts/Bitcoin.md | 47 ++++++++++++++++++++++++++++++++++++++++ texts/Trusted_Medium.md | 1 + texts/sources.txt | 3 +++ 4 files changed, 51 insertions(+) create mode 100644 texts/.sources.txt.swp create mode 100644 texts/Bitcoin.md create mode 100644 texts/Trusted_Medium.md create mode 100644 texts/sources.txt diff --git a/texts/.sources.txt.swp b/texts/.sources.txt.swp new file mode 100644 index 0000000000000000000000000000000000000000..3da0adcbcad05932e40fd77f578cb5ca19792031 GIT binary patch literal 12288 zcmeI%Jx;?g6bEn@1RDau1qw_Iu^TENVk}6A0SUy%{$jf{w6TNZlumF4uE5HPxC9b6 zz?GV+VrdtKN`Fg{8 zeAbzh`5F?%xs_F}jW0!q`ZOTdCvkn-xf5QGLa?-zle*-7|m3zn{bW)|JUFDpJDx6$Ct1#yfOqJ009U<00Izz z00bZa0SG|gUj=&J7v-rCY38NP47cuadS9q6tM`>2>VYk^e5@srOoSSMUGygnKPo)Y3eKcVj|h1BWe>R$4SC| E0RrD;_y7O^ literal 0 HcmV?d00001 diff --git a/texts/Bitcoin.md b/texts/Bitcoin.md new file mode 100644 index 0000000..fd04ceb --- /dev/null +++ b/texts/Bitcoin.md @@ -0,0 +1,47 @@ + +--- +Bitcoin +--- + +Bitcoin was invented in 2008[2]. It is primary function was to be an online currency, which could be paid with over the internet. +With a boom of it's price people started to treat it like a commodity. And it's creation started a cryptocurrency era which then spawned in great numbers. +Many had different mechanisms, some of them can be considered to be technically improved, some enhanced, some of them are out of technical point of view +downright worse. To name a few: Etherium, Monero, Dogecoin. + +There are many instances of reason that gave an opportunity to it's rise that allowed it to be globally somehow adopted. +I believe that many of these instances are connected to technical solutions that Bitcoin offers. It gives it's +users a few, whoever stone carved advantages over clasic currencies. Some of them being certain degree +of annonymity or assurance that there will never exist more than 23 000 000 units (which I will further on refer to as bitcoins[1]). +This means there will be no problem with inflation, on the other hand there is a deflation. It allows it's users to pay worldwide without a third person. +Bitcoin is created to be distributed[2] which makes it to a certain degree uncontrolable by anyone, unless he has at his disposal more than half +of all computing power that surges through Bitcoin (this is called 51% attack[2]). For each transaction there is a certain everchanging fee. That is reaped by a miner who +mines the block with the transaction on it. One of cryptographical foundation that Bitcoin is build upon is a Blockchain which is a vital +part in how the currency circulates between wallets and users. It's technical background is secured by cryptography and math. + +What it means that miner mined a block? It means that he was lucky and his part of computing power achieved generating a new block out +of hash of the previous block (his parent) and things it found on the internet, computed or guessed. And afterwards was the +It consists of large quantity of blocks of information, which are bound together not unlike a linked list. Each block holds an +information that can be used to assert it's parrent. A very first block was mined by Bitcoin's creator Satoshi Nakamoto[1], it is +called Genesis block. This block holds no such information. +Information on these blocks consists of mostly transactions and movements of bitcoins across the blocks as well as an amount of newly +mined bitcoins, which could be further decoded into new addresses which the successful miner generated and to which he presumably +holds a secret that could be imagined as a ticket to access these 'coins'. + +The amount of mined bitcoins is not static. It is continuously decreesed by half of the amount in a process called Halving until +there will be none bitcoin mined. And the blocks will be created purely for transactions and fees they bring to the miner. +Therefore there will be constantly a decreesing amount which will be increasing total amount of bitcoins up to 21 000 000. +(times 100 000 000 satoshi). This all is achieved by clever usage of hash functions. +The more different miners participate in the mining and the more evenly is computing power distributed among them, the lower is the chance +that someone is able to get lucky first and then create another block many times in a row. Chances are rising exponentially with each block. +(assuming that chance to mine a block is equal to one's mining share on global stage) + +Before the transaction is agreed upon by general majority of miners and is approved and permamently written on Blockchain, it needs to be validated. +Transactions are hashed in a Merkle Tree[1], which significantly saves the ammount of previous hashes needed to validate a block. +Inside of bitcoin wallet are no coins, there are tickets to move coins on Blockchain down the chain. Whoever holds a ticket is authorized to pay with +the coins or move them to a another wallet and much more. Transactions are going to be of a great interest to us in this list we will be looking at +mosty Partially Signed Bitcoin Transactions which we will be finalizing under certain cirmcumstances. + +1. "Bitcoin: A Peer-to-Peer Electronic Cash System," Satoshi Nakamoto (https://bitcoin.org/bitcoin.pdf). +2. bitcoinbook, author (https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch01.asciidoc). + +To ignore: keywords: transaction, structure, partially signed, transaction creation, transaction finilazing, signing, writing on Blockchain, transaction fee diff --git a/texts/Trusted_Medium.md b/texts/Trusted_Medium.md new file mode 100644 index 0000000..6d63198 --- /dev/null +++ b/texts/Trusted_Medium.md @@ -0,0 +1 @@ +In Trusted medium we shall trust, to a certain degree. diff --git a/texts/sources.txt b/texts/sources.txt new file mode 100644 index 0000000..8f6f925 --- /dev/null +++ b/texts/sources.txt @@ -0,0 +1,3 @@ +https://medium.datadriveninvestor.com/bitcoin-raw-transaction-breakdown-c0a5a3aa8688 +https://developer.bitcoin.org/reference/transactions.html +https://bitcoin.org/bitcoin.pdf