Block Parsers: How to Read the Bitcoin Block Chain
A Block Parser reads the Bitcoin block chain. There is no encryption of the data stored in the block chain. Bitcoin is a pseudonymous system. Meaning, ECDSA key pairs are used to abstract the identity of users. However, the binary data in the block chain can be read. The block chain is a transaction database. Every full node participating in the Bitcoin network has the same copy. The Bitcoin protocol dictates its structure and is the means through which each node maintains a duplicate copy. Overall, the block chain is just a data structure for storing blocks. The block chain stores blocks....
Related News
On December 27, at around 2 a.m. in the morning (EST), another large string of decade-old sleeping bitcoins was transferred. The miner spent 20 block rewards that were originally mined in 2010, and also spent the corresponding bitcoin cash block rewards as well. The bitcoins moved are worth well over $27 million using today’s exchange rates. **Update: At approximately 3:10 p.m. (EST) at block height 663,241 another 2010 block reward was spent, making it an aggregate total of 21 decade-old block rewards on December 27, 2020. Most strings of 2010 spent blocks this year have been....
Bitcoin was designed to be a decentralized and trustless payment network - with the power to do this provided by the block chain and its ability to publicly confirm the digital currency's digital transactions. Rather contentiously, however, as the bitcoin economy expands, more and more transactions are being carried out off the block chain. Such transactions are tracked on private databases instead of the block chain, and cannot be publicly tracked. There are pros and cons to both systems. So, which are better? Off-block chain or on-block chain transactions? Visible payments. Legitimate....
The adoption of block chain technology will revolutionize capital markets as early as next year, according to a report by TABB research carried by CNBC TV. The report noted that the adoption is not a matter of if, but when. The TABB Group is a New York City-based company that provides insight on securities and investment management. The block chain, the report noted, serves as a big, decentralized ledger that records transaction information and stores it on a global network that can't be tampered with. It noted that R3, a fintech company, leads a 20-bank consortium that is developing a....
Bitcoin will be the sixth largest global reserve currency by 2030, according to research by Silicon Valley investment firm Magister Advisors, which surveyed some 30 block chain companies, the International Business Times reported. The research also indicates banks will invest $1 billion in block chain technology in the next few years and that the block chain will become the rails on which finance runs. Block chain is "without question" the most important enterprise IT development in a decade, said Jeremy Millar, a partner in the investment firm. He characterized the block chain as being on....
While it seems the big block vs. small block debate is over, it is still relevant in the cryptocurrency sphere and some users are still delving into the limits of big blocks. Mtrycz, a writer leveraging the read.cash blogging platform, claims to have mined 1 gigabyte (GB) block using a Raspberry Pi4 on the Bitcoin Cash scalenet, showing it is indeed possible to deal with these block sizes, albeit only in an experimental way for now. 1GB Block Mined With a Raspberry Pi4 Mtrycz, a writer who regularly posts experiments to the BCH-based blog platform read.cash, has achieved a mining....