Mining algorithms (Proof of Work): SHA-256, Scrypt ...

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Among them the most famous is the SHA-256, mainly used for mining Bitcoin and its fork ... How the SHA-256 algorithm works. Redundant bits are added to the original message so that the final length of the message is consistent with 448 modulo 512 (famous MD5). The modulo is nothing more than a function that has as a result the remainder of the division between the two numbers when it is ... Many users of Bitcoin are intrigued by the concept of the underlying technology and place a strong emphasis on privacy. Other users are in it just for price speculation or for a store of value rivaling gold. Whatever the reason for entering the Bitcoin space, it has really never been better for the user than it is now. For users seeking a reprieve from inflationary government-issued currencies ... A Bitcoin private key is a secret number which every Bitcoin wallet has. This 256-bit number can be represented in several formats: in hexadecimal – 256 bits, in hexadecimal is 32 bytes, or 64 characters in the range 0-9 or A-F, Base64 string, a WIF key, or a mnemonic phrase. Current quantum computers can barely crack prime factorization problem for primes of 5 bits. The 256-bit elliptic curve use by Bitcoin is, by my (possibly wrong) understanding, equivalent to 4096-bit primes, so you can see a pretty big gap between now (5 bit primes) and what is needed (4096 bit primes). A lot of financial non-Bitcoin systems use the equivalent of 3072-bit primes or less, and ... A very straight forward explanation of a very complex topic. We explain this highly abstact and mathmatical concept in a way anyone can understand. A Bitcoin invoice address, or simply invoice, is an identifier of 26-35 alphanumeric characters, beginning with the number 1, 3 or bc1 that represents a possible destination for a bitcoin payment. Invoices can be generated at no cost by any user of Bitcoin. It is also possible to get a Bitcoin invoice address using an account at an exchange or online wallet service. The fact that bytes can represent a single character is a key reason why factors of eight are extremely common numbers in cryptography, such as 128, & 256 (from the famous Bitcoin consensus hashing algorithm SHA256). Intuitively understanding how to go from bits, to hexadecimal values to alphanumeric characters to bytes is going to be a core part of needed knowledge moving forward to really ...

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