Overview In the cryptocurrency world, ownership of your money is controlled by cryptographic private keys. These keys are used for deriving your receiving addresses and ultimately for spending funds. For obvious reasons, secure storage of these keys is absolutely critical for any Bitcoin user, as anyone with the keys can control the funds at that
Overview Several years ago during my early journey into the Bitcoin space, I heard Andreas Antonopoulos discuss the idea of tokenization on Joe Rogan’s podcast. He was imagining a future in which we no longer trade car titles or mortgage deeds through government agencies. Instead, we would represent those assets as tokens on a blockchain.
Overview Unfortunately, sometimes Bitcoin private keys are lost. Users destroy wallets, throw away hard drives, or simply never backup keys in the first place. A seemingly obvious solution to the problem of a lost key might be to try and “guess” all the possible keys until you find the one that unlocks your addresses. One
Overview On October 31st, 2008, Satoshi Nakamoto graced the world with his vision for a peer-to-peer electronic cash system called Bitcoin. The cryptocurrencies we use today started with this abstract and the ideas contained within. I highly recommend anyone interested in Bitcoin or other open blockchain projects read the original whitepaper, but it can be
Overview The advent of HD wallets has made key management a far easier task for cryptocurrency users. These “Hierarchical Deterministic” wallets can generate an infinite amount of private keys and addresses from a single seed, eliminating the need for the periodic backups required by the old-style, nondeterministic wallets. Despite the ease of backup, there are
Overview As it stands, all of the top cryptocurrencies (Bitcoin Cash, Ethereum, Litecoin, and Bitcoin) use proof-of-work mining to secure their networks. With proof-of-work, special nodes on the network called miners use their computing power to try and solve a mathematical problem. This problem is designed so that a miner has to do a bunch
Overview When sending money to someone else using Bitcoin, Bitcoin Cash, Ethereum, or another cryptocurrency, you send funds to the other user’s address. This unique identifier for the other user’s wallet may look like a “random” string of letters and numbers, like this: 13GuDW2Km8TR6iCYP8E5QGhNky2ne7T17r. (Note: this is just a random address; don’t use it!). But