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Bitcoin Network
The bitcoin protocol is the set of rules that govern the functioning of bitcoin. Its key components and principles are: a peer-to-peer decentralized network with no central oversight; the blockchain technology, a public ledger that records all bitcoin transactions; mining and proof of work, the process to create new bitcoins and verify transactions; and cryptographic security. Users broadcast cryptographically signed messages to the network using bitcoin cryptocurrency wallet software. These messages are proposed transactions, changes to be made in the ledger. Each node has a copy of the ledger's entire transaction history. If a transaction violates the rules of the bitcoin protocol, it is ignored, as transactions only occur when the entire network reaches a consensus that they should take place. This "full network consensus" is achieved when each node on the network verifies the results of a proof-of-work operation called ''mining''. Mining packages groups of transactions int ...
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Bitcoin Transaction Visual
Bitcoin (abbreviation: BTC; sign: ₿) is the first decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under the pseudonym of Satoshi Nakamoto. Use of bitcoin as a currency began in 2009, with the release of its open-source implementation. In 2021, El Salvador adopted it as legal tender. It is mostly seen as an investment and has been described by some scholars as an economic bubble. As bitcoin is pseudonymous, its use by criminals has attracted the attention of regulators, leading to its ban by several countries . Bitcoin works through the collaboration of computers, each of which acts as a node in the peer-to-peer bitcoin network. Each node maintains an independent copy of a public distributed ledger of transactions, called a blockchain, without central oversight. Transactions are validated through the use of cryptography, preventing one person from spending another person's bitcoin, ...
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Springer Publishing
Springer Publishing Company is an American publishing company of academic journals and books, focusing on the fields of nursing, gerontology, psychology, social work, counseling, public health, and rehabilitation (neuropsychology). It was established in 1951 by Bernhard Springer, a great-grandson of Julius Springer, and is based in Midtown Manhattan, New York City. History Springer Publishing Company was founded in 1950 by Bernhard Springer, the Berlin-born great-grandson of Julius Springer, who founded Springer Science+Business Media, Springer-Verlag (now Springer Science+Business Media). Springer Publishing's first landmark publications included ''Livestock Health Encyclopedia'' by R. Seiden and the 1952 ''Handbook of Cardiology for Nurses''. The company's books soon branched into other fields, including medicine and psychology. Nursing publications grew rapidly in number, as Modell's ''Drugs in Current Use'', a small annual paperback, sold over 150,000 copies over several edi ...
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Field-programmable Gate Array
A field-programmable gate array (FPGA) is a type of configurable integrated circuit that can be repeatedly programmed after manufacturing. FPGAs are a subset of logic devices referred to as programmable logic devices (PLDs). They consist of an array of programmable logic device, programmable logic block, logic blocks with a connecting grid, that can be configured "in the field" to interconnect with other logic blocks to perform various digital functions. FPGAs are often used in limited (low) quantity production of custom-made products, and in research and development, where the higher cost of individual FPGAs is not as important, and where creating and manufacturing a custom circuit would not be feasible. Other applications for FPGAs include the telecommunications, automotive, aerospace, and industrial sectors, which benefit from their flexibility, high signal processing speed, and parallel processing abilities. A FPGA configuration is generally written using a hardware descr ...
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Central Processing Unit
A central processing unit (CPU), also called a central processor, main processor, or just processor, is the primary Processor (computing), processor in a given computer. Its electronic circuitry executes Instruction (computing), instructions of a computer program, such as arithmetic, logic, controlling, and input/output (I/O) operations. This role contrasts with that of external components, such as main memory and I/O circuitry, and specialized coprocessors such as graphics processing units (GPUs). The form, CPU design, design, and implementation of CPUs have changed over time, but their fundamental operation remains almost unchanged. Principal components of a CPU include the arithmetic–logic unit (ALU) that performs arithmetic operation, arithmetic and Bitwise operation, logic operations, processor registers that supply operands to the ALU and store the results of ALU operations, and a control unit that orchestrates the #Fetch, fetching (from memory), #Decode, decoding and ...
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General-purpose Computing On Graphics Processing Units
General-purpose computing on graphics processing units (GPGPU, or less often GPGP) is the use of a graphics processing unit (GPU), which typically handles computation only for computer graphics, to perform computation in applications traditionally handled by the central processing unit (CPU). The use of multiple video cards in one computer, or large numbers of graphics chips, further parallelizes the already parallel nature of graphics processing. Essentially, a GPGPU pipeline is a kind of parallel processing between one or more GPUs and CPUs that analyzes data as if it were in image or other graphic form. While GPUs operate at lower frequencies, they typically have many times the number of cores. Thus, GPUs can process far more pictures and graphical data per second than a traditional CPU. Migrating data into graphical form and then using the GPU to scan and analyze it can create a large speedup. GPGPU pipelines were developed at the beginning of the 21st century for graphic ...
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Bitcoin Difficulty
Bitcoin (abbreviation: BTC; sign: ₿) is the first decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under the pseudonym of Satoshi Nakamoto. Use of bitcoin as a currency began in 2009, with the release of its open-source implementation. In 2021, El Salvador adopted it as legal tender. It is mostly seen as an investment and has been described by some scholars as an economic bubble. As bitcoin is pseudonymous, its use by criminals has attracted the attention of regulators, leading to its ban by several countries . Bitcoin works through the collaboration of computers, each of which acts as a node in the peer-to-peer bitcoin network. Each node maintains an independent copy of a public distributed ledger of transactions, called a blockchain, without central oversight. Transactions are validated through the use of cryptography, preventing one person from spending another person's bitcoin, ...
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Fork (blockchain)
In blockchain, a fork is defined variously as: * "What happens when a blockchain diverges into two potential paths forward", * "A change in protocol", or * A situation that "occurs when two or more blocks have the same block height". Forks are related to the fact that different parties need to use common rules to maintain the history of the blockchain. When parties are not in agreement, alternative chains may emerge. While most forks are short-lived some are permanent. Short-lived forks are due to the difficulty of reaching fast consensus in a distributed system. Whereas permanent forks (in the sense of protocol changes) have been used to add new features to a blockchain, they can also be used to reverse the effects of hacking such as the case with Ethereum and Ethereum Classic, or avert catastrophic bugs on a blockchain as was the case with the bitcoin fork on 6 August 2010. The concept of blockchain technology was first introduced in 2008 by an unknown person or group of pe ...
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Hash Function
A hash function is any Function (mathematics), function that can be used to map data (computing), data of arbitrary size to fixed-size values, though there are some hash functions that support variable-length output. The values returned by a hash function are called ''hash values'', ''hash codes'', (''hash/message'') ''digests'', or simply ''hashes''. The values are usually used to index a fixed-size table called a ''hash table''. Use of a hash function to index a hash table is called ''hashing'' or ''scatter-storage addressing''. Hash functions and their associated hash tables are used in data storage and retrieval applications to access data in a small and nearly constant time per retrieval. They require an amount of storage space only fractionally greater than the total space required for the data or records themselves. Hashing is a computationally- and storage-space-efficient form of data access that avoids the non-constant access time of ordered and unordered lists and s ...
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Cryptographic Nonce
In cryptography, a nonce is an arbitrary number that can be used just once in a cryptographic communication. It is often a random or pseudo-random number issued in an authentication protocol to ensure that each communication session is unique, and therefore that old communications cannot be reused in replay attacks. Nonces can also be useful as initialization vectors and in cryptographic hash functions. Definition A nonce is an arbitrary number used only once in a cryptographic communication, in the spirit of a nonce word. They are often random or pseudo-random numbers. Many nonces also include a timestamp to ensure exact timeliness, though this requires clock synchronisation between organisations. The addition of a client nonce ("cnonce") helps to improve the security in some ways as implemented in digest access authentication. To ensure that a nonce is used only once, it should be time-variant (including a suitably fine-grained timestamp in its value), or generated w ...
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SHA-256
SHA-2 (Secure Hash Algorithm 2) is a set of cryptographic hash functions designed by the United States National Security Agency (NSA) and first published in 2001. They are built using the Merkle–Damgård construction, from a one-way compression function itself built using the Davies–Meyer structure from a specialized block cipher. SHA-2 includes significant changes from its predecessor, SHA-1. The SHA-2 family consists of six hash functions with digests (hash values) that are 224, 256, 384 or 512 bits: SHA-224, SHA-256, SHA-384, SHA-512, SHA-512/224, SHA-512/256. SHA-256 and SHA-512 are hash functions whose digests are eight 32-bit and 64-bit words, respectively. They use different shift amounts and additive constants, but their structures are otherwise virtually identical, differing only in the number of rounds. SHA-224 and SHA-384 are truncated versions of SHA-256 and SHA-512 respectively, computed with different initial values. SHA-512/224 and SHA-512/256 are also trunc ...
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Satoshi Nakamoto
Satoshi Nakamoto ( – 26 April 2011) is the name used by the presumed pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation. As part of the implementation, Nakamoto also devised the first blockchain database. Nakamoto was active in the development of bitcoin until December 2010. There has been widespread speculation about Nakamoto's true identity, with various people posited as the person or persons behind the name. Though Nakamoto's name is Japanese, and inscribed as a man living in Japan, most of the speculation has involved software and cryptography experts in the United States or Europe. Development of bitcoin Nakamoto said that the work of writing bitcoin's code began in the second quarter of 2007. On 18 August 2008, he or a colleague registered the domain name bitcoin.org, and created a web site at that address. On 31 October, Nakamoto published a white paper on the ...
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Mining Pool
In the context of cryptocurrency mining, a mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block. A "share" is awarded to members of the mining pool who present a valid partial proof-of-work. Mining in pools began when the difficulty for mining increased to the point where it could take centuries for slower miners to generate a block. The solution to this problem was for miners to pool their resources so they could generate blocks more quickly and therefore receive a portion of the block reward on a consistent basis, rather than randomly once every few years. History * November 2010: Slush launched in 2010 and is the first mining pool. * 2011–2013: The era of deepbit, which at its peak held up to 45% of the network hashrate. * 2013–2014: Since the introduction of ASIC, and when deepbit failed to support the new ...
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