Bitcoins are stored on the public blockchain, in the form of unspent transaction outputs (UTXO). A bitcoin wallet does not hold any bitcoins, rather it contains a collection of key pairs that are necessary for a user to be able to spend his bitcoins (i.e. unlock the UTXOs). When a user signs a bitcoin transaction, he unlocks the UTXOs associated …
Where can you buy and trade cryptocurrency?
When it comes to buying and trading cryptocurrency online, there are many options available. In order to make it easier for you, I have made a selection of 3 cryptocurrency exchanges which I can personally recommend. Coinbase; Binance; and Bitmex. These are cryptocurrency exchanges that I have been using on a daily basis, both for private and professional use, for …
What methods are used by wallets to generate keys?
Bitcoin wallets contain a collection of key pairs, each consisting of a private key and a public key. Bitcoins are stored on the public blockchain, in the form of unspent transaction outputs. In order for a user to spend his coins, or in other words unlock his unspent transaction outputs, the user will need to sign a transaction with his …
Bitcoin affiliate program bitcoin-gear.com
Website bitcoin-gear.com, the biggest bitcoin merchandise website on the web has recently announced the launch of its new bitcoin affiliate program. The affiliate program offers a 10% commission, calculated on the total order value, whenever a referral makes a purchase. “A lot of bitcoin content creators are bringing value to the bitcoin space when they’re sharing their knowledge and information …
Are private keys transmitted in a bitcoin transaction?
When I first started doing research about bitcoin and blockchain technology back in 2015 it struck me that there seems to be a lot of confusion about what information is transmitted when making a bitcoin transaction. A particular question that frequently arises in this regard is “whether or not private keys are transmitted in a bitcoin transaction?” Private keys are …
Is it possible to calculate a private key from a public key?
The public key is mathematically generated on the basis of the private key, using elliptic curve multiplication. This begs the question if, inversely, someone could potentially get access to your bitcoin by mathematically calculating the private key from a public key