DESKTOP WALLET - BITCOIN TRANSACTION - PUBLIC/PRIVATE KEY - HALVING -

chloeroy (39)in #blockchain • 6 years ago


DESKTOP WALLET	another party can then receive the message and using a key that is only known to that individual or group, decode the message. in cryptography a public key is a cryptographic key that can be utilized by any party to encrypt a message. ^{Source + Source}
BITCOIN TRANSACTION	as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.^{Source + Source}
PUBLIC/PRIVATE KEY	allow the spending and management of your bitcoins. a wallet that stores the private keys on your computer. ^{Source + Source}
HALVING	the final halving will take place in the year 2140. the total amount of bitcoins that will ever be issued is 21 million. the number of bitcoins generated per block is decreased 50% every four years and is called halving. bitcoins have a finite supply, which makes them a scarce digital commodity. ^{Source + Source}


DESKTOP WALLET	allow the spending and management of your bitcoins. a wallet that stores the private keys on your computer. ^{Source + Source}
BITCOIN TRANSACTION	as long as a transaction is unconfirmed, it is pending and can be forged. the transaction is known almost immediately by the whole network. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. only after a specific amount of time the transaction gets confirmed. when a transaction is confirmed, it is set in stone. a transaction is a file that says, “user_a gives x bitcoin to user_b“ and is signed by user_a‘s private key.^{Source + Source}
PUBLIC/PRIVATE KEY	another party can then receive the message and using a key that is only known to that individual or group, decode the message. in cryptography a public key is a cryptographic key that can be utilized by any party to encrypt a message. ^{Source + Source}
HALVING	the final halving will take place in the year 2140. the total amount of bitcoins that will ever be issued is 21 million. the number of bitcoins generated per block is decreased 50% every four years and is called halving. bitcoins have a finite supply, which makes them a scarce digital commodity. ^{Source + Source}

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