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Y O U R D I G I T A L D N A       2015      



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It uses really good cryptography – “elliptic curve” cryptography, which is a form of very secure encryption that needs relatively short “keys”.
Conventional attack could conceivably need thousands of keys to actually crack it open.
Why is the post-quantum world so dangerous to blockchain?
The speed and power of quantum computers could allow you to recover an elliptic curve private key rapidly (i.e., crack open the metaphorical safe).
Many widely-used forms of public key encryption today can be cracked using a quantum computer.
Once an attacker can use a recovered private key to fake new messages, it will destroy trust in the entire chain – problematic given that what makes blockchain work is trust.

Digital Currency - Liquid Cash Security

The reality is that the problem isn’t limited to blockchain – conventional bank systems rely in part on the imperviousness of public key schemes – but at least with the conventional systems you have centralized updates when you implement new cryptography. A distributed network that you don’t control gains resilience at the cost of speed and effectiveness to update. 
Why is blockchain so secure?  Well, a few things: 
It’s really resilient (meaning that there is multiple redundancy so if several “nodes” aka copies of the ledger are taken out, there are thousands of backups).  
What is The Blockchain?

The aim of Blockchain technology? The concepts and techniques are complex, and take some time to learn and understand. The fundamental concepts are enough to give you a basic understanding of its functionality.
What is Blockchain?
Wikipedia states the following: “A block chain or blockchain is a permissionless distributed database based on the bitcoin protocol that maintains a continuously growing list of data records hardened against tampering and revision, even by operators of the data store’s nodes. The initial and most widely known application of the blockchain technology is the public ledger of transactions for bitcoin which has been the inspiration for similar implementations often known as altchains.”
In other words, blockchain is a database of transactions. This database is distributed, meaning that all of the nodes on the network contain a copy of it, and its data permanent, and thus cannot be altered or erased.
Transaction, Block, Blockchain

To explain these concepts, easily I have added a video giving you a basic and visual understanding of the Bitcoin Blockchain implementation. The blockchain technology advancement understanding the present and future development.

What is a 'Blockchain'
A blockchain is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as ‘completed’ blocks are added to it with a new set of recordings. The blocks are added to the blockchain in a linear, chronological order. Each node (computer connected to the Bitcoin network using a client that performs the task of validating and relaying transactions) gets a copy of the blockchain, which gets downloaded automatically upon joining the Bitcoin network. The blockchain has complete information about the addresses and their balances right from the genesis block to the most recently completed block.
BREAKING DOWN 'Blockchain'
The blockchain is seen as the main technological innovation of Bitcoin, since it stands as proof of all the transactions on the network. A block is the ‘current’ part of a blockchain which records some or all of the recent transactions, and once completed goes into the blockchain as a permanent database. Each time a block gets completed, a new block is generated. There is a countless number of such blocks in the blockchain. So are the blocks randomly placed in a blockchain? No, they are linked to each other (like a chain) in proper linear, chronological order with every block containing a hash of the previous block.
To use conventional banking as an analogy, the blockchain is like a full history of banking transactions. Bitcoin transactions are entered chronologically in a blockchain just the way bank transactions are. Blocks, meanwhile, are like individual bank statements.
Based on the Bitcoin protocol, the blockchain database is shared by all nodes participating in a system. The full copy of the blockchain has records of every Bitcoin transaction ever executed. It can thus provide insight about facts like how much value belonged a particular address at any point in the past.
The ever-growing size of the blockchain is considered by some to be a problem due to issues like storage and synchronization. On an average, every 10 minutes, a new block is appended to the block chain through mining.