How a Bitcoin Transaction Works
This article explains what a Bitcoin transaction is, its purpose and outcome. The explanation made below is suitable for both novice and intermediate Bitcoin users. As a cryptocurrency user you need to be familiar with transaction rudiments - for the sake of your own confidence with this evolving innovation, and as a foundation for understanding emerging multi-signature transactions and contracts, both of which will be explored later in the series. This is not a technical article and explanation will focus on what you need to know about standard bitcoin transactions - the spend....
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For the past several years, the Bitcoin network has been bedeviled by transaction malleability attacks. These attacks shot to fame during the notorious Mt. Gox theft where it was referred as the sole reason for interrupting withdrawals. Since then, the attack has distressed many digital currency companies, including high-volumed exchanges BitStamp and BTC-e. What is the Transaction Malleability? While transaction malleability is still a little difficult to explain in plain English, we can consider it as an attack that tampers the unique Bitcoin transaction ID before it is confirmed by....
One of the hot topics in the bitcoin community lately has been multisignature transactions. Put simply, what this does is provide several private keys for a bitcoin address, which serves as an additional security measure (if you're unfamiliar, read this). The folks at BitPay, who are hard at work on their Bitcore project, have announce they have a multisignature wallet in the works. Dubbed Cosign, the wallet will make spending multisig bitcoins just as simple as it is to spend from a single-signature address by having other people or computers "sign" transaction to confirm they are valid.....
There are only 99 individual pieces made out of 33 works, baby! Since coming into this space, starting Art For Crypto in June 2017, I’ve produced 33 works that tell the tale of crypto from many angles. They also utilize tech and cetificates as appropriate. As my works are digital originals due to the […]
The torment of waiting hours for a Bitcoin transactions to confirm is officially over, thanks to a little-known trick called ‘child-pays-for-parent’ (CPFP). Transactions in Seconds from Most Wallets. A Reddit post by user super3 Friday states that if a transaction is sitting idle due to a low (or ‘standard’) fee, a CPFP transaction may be created to speed it up – drastically. An unnamed developer reportedly confirmed the validity of the trick, which can be used with a variety of popular wallets. “I learned from one of the developers that works with me that you can use child-pays-for-parent....
Perhaps you've heard of "Gyft", a service that allows consumers to purchase gift cards to popular retail locations with Bitcoin. Well another start-up is coming on the scene that aims to allow you to buy anything online with your Bitcoins. It's called SnapCard, and the San Francisco-based company says their service "works on every website". ScapCard works as a bookmarklet. The end user makes the decision to purchase a product on the web, clicks the SnapCard bookmarklet, and makes a confirmation by clicking the "Add to SnapCard" button to purchase. Hitting the "Buy" button executes on the....