Today was a very effective day for web development learning. I will finish the CSS course tomorrow :).

I also finished reading Bitcoin whitepaper.

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Blockchain Whitepapers

Bitcoin Whitepaper

It's a very technical essay, and I definitely do not fully understand it. I want to push my computer science knowledge to understand the blockchain technology better and make better investment decisions later.

The main goal and innovation of Bitcoin technology is to remove the need of a trusted third party (like a bank or Paypal) for digital payments.

This graph summarizes it well:

In the traditional model, the sender identity is known by the third party, let say a bank, which manages the payment transaction to the receiver. The bank also knows at least some information about the receiver identity. In this situation, banks have a lot of power and tools to reverse transactions in a case of a dispute, or to just block it from happenning. And after a transaction is done, banks and users decide what information to show to the public (usually no information at all).

In the Bitcoin model, it's simpler. Identities aren't known. The sender only needs a payment address to send the bitcoins and there is no trusted third party to arbitrate the transaction. On the other hand, the public has a full access to every single transaction made on the Bitcoin blockchain. So, on that aspect, there is less privacy about Bitcoin plain transactions than with banks. But in a way, it's good to have access to all transactions to make sure the blockchain ledger is legit and to track anything that happens on it. But since we only know the sender and receiver public addresses (not their names, address, etc.), a way to keep anonymity is to generate a new public key to send bitcoins everytime, so a person identity can't be tracked by its public key. (We know now that Bitcoin transactions are apparently 'easily' traceable by authorities, but I will learn and write about that another time).

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Lessons

Web Development

W3Schools - CSS Course

65 / 72 Lessons Completed

1 / 30 Courses Completed

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Jobs Earnings - 0.00$

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Crypto Earnings

Steemit

I thank all my upvoters and followers very much for my Steem earnings :)

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Trading

No Trading

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Summary

*All token prices are taken from CoinMarketCap at the time I am writing this article.

NEO dropped a bit since yesterday, but it's okay, it works like that. We still are at an higher level than the last lows. I guess it will increase more in the next days.

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If you liked what you saw and read, the best way to encourage me is to upvote my posts and/or follow me. Really no need to tip, I prefer to deserve my earnings through upvotes.

I will Power Up all the Steem Dollars I earn from upvotes, and will count them in my holdings to help me accomplish my goal. I know STEEMs are a good holding, so I plan to not touch them for years.

Vincent Boutin
CEO of Brainy Network Inc.

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