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10-18-2019 05:53 PM
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misconceptions about Bitcoin & Blockchain

by Lonsind on 10-04-2019 at 04:25 PM
1. Bitcoin is not a digital coin or a file that you send from one computer to the other Blockchain Security :
The Bitcoin symbol is just a symbol and quite misleading. Bitcoin is is simply an entry in a distributed ledger. No coin, no file. The term coin is just a metaphor.

2.Your crypto wallet does not hold any bitcoin:
just the public-private key-pair that identifies you as you and grants access to your funds that are recorded on the blockchain (distributed ledger),

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The Bitcoin blockchain

by Lonsind on 09-24-2019 at 03:42 PM
The Bitcoin blockchain protocol for uses public key cryptography for digital signatures and cryptographic hash functions, details of which will be explained below. The cryptographic algorithm used in bitcoin futures is called elliptic curve cryptography. It is a type of asymmetric cryptography that is considered more efficient compared to classic RSA cryptography. While elliptic curve cryptography provides the same level of security like RSA, it needs less computation and smaller key size, thus

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