https://wiki.bitcoinsv.io/api.php?action=feedcontributions&feedformat=atom&user=AlexMackay 2026-05-29T19:45:07Z User contributions MediaWiki 1.33.0 https://wiki.bitcoinsv.io/index.php?title=Peer-to-Peer_Network_Architecture&diff=2239 2020-02-19T11:40:58Z

<p>AlexMackay: </p> <hr /> <div>Peer-to-Peer computing or networking is a distributed application network architecture that spreads workload between peers. Peers are equally privileged, participate equally in the application and are said to form a peer-to-peer network of nodes [1]. <br /> <br /> ==Bitcoin as a Peer-to-Peer Network==<br /> <br /> Formally, Bitcoin is a peer-to-peer network built on top of the internet. In the early days of Bitcoin the network had a flat topological structure, in which users were capable of running full nodes that could perform all of Bitcoin's main functions: transaction creation, transaction validation and [[Mining |mining]] (see [https://www.metzdowd.com/pipermail/cryptography/2009-January/014994.html bitcoinv0.1]). However, as the network has grown, the requirements needed to perform each function on the network have evolved creating a necessity for nodes to specialize. Currently, the 3 main functions of the Bitcoin system are, in general, performed by separate actors within the ecosystem. Transaction creation is done by [[Simplified Payment Verification|SPV]] wallets. Transaction validation is done by the Bitcoin SV node client software and mining is a separate function performed using purpose built mining software.<br /> <br /> ==Peer-to-Peer Architecture and the Bitcoin Scalability Dispute==<br /> <br /> Peer-to-peer is a term often misused and misunderstood, partly due the philosophical significance of ''decentralization'' which is seen as a key feature of blockchain technology. It has also been at the heart of disputes within the Bitcoin community that have lead to contentious forks that have split the Bitcoin blockchain on two occasions as well as a general slow-down in the development of the technology. <br /> <br /> On one hand the role of transaction validation and mining cannot be [[Attacks on Bitcoin|dominated by a single entity]] as the network would cease to provide any cryptographic or game theoretic advantages over existing centralized digital money systems. However, one of the main barriers to scaling is the extreme waste caused by forcing all users to perform all Bitcoin functions. Whilst it is true that engineering trade-offs between decentralization and scalability have to be made, it is the firm belief of the Bitcoin SV community that scalability can be achieved through specialization whilst maintaining strong security and moderate decentralization.<br /> <br /> ==References==<br /> 1. Rüdiger Schollmeier, A Definition of Peer-to-Peer Networking for the Classification of Peer-to-Peer Architectures and Applications, Proceedings of the First International Conference on Peer-to-Peer Computing, IEEE (2002).</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Bitcoin_wallet_libraries&diff=2238 2020-02-19T11:35:56Z

<p>AlexMackay: </p> <hr /> <div>=== Introduction ===<br /> Many node software libraries have been created enabling developers experienced with any programming language to start interacting with the Bitcoin [[block chain|blockchain]].<br /> <br /> Bitcoin SV's locked down consensus protocol enables fast-paced development of blockchain infrastructure, including base wallet libraries. Wallet applications can therefore be built without fear of future dependency risk and developers can be assured that changes that result their software becoming incompatible with Bitcoin SV will not be made.<br /> <br /> === Node software libraries ===<br /> * [https://nakasendoproject.org/ The Nakasendo SDK] serves to abstract not only lower level Bitcoin protocol functions but advanced cryptographic techniques such as encryption and threshold signatures so that developers can implement this functionality more easily. The SDK will be available in C++, JavaScript, and python.<br /> <br /> * [https://github.com/moneybutton/bsv bsv] is a JavaScript library is a comprehensive toolset for managing, building, signing and broadcasting Bitcoin SV transactions.<br /> <br /> * [https://github.com/AustEcon/bitsv Bitsv] is a library for similar functionality as the BSV library, implemented in python.<br /> <br /> * [https://gitlab.com/bitcoinj-sv/bitcoinj-sv/ bitcoinj-sv] is a Java implementation of the Bitcoin SV protocol.<br /> <br /> * [https://github.com/brentongunning/rust-sv Rust-SV] is a Rust implementation of the Bitcoin SV protocol.<br /> <br /> * [https://github.com/bitcoinsv/bsvd bsvd] is a Golang implementation of the Bitcoin SV protocol.<br /> <br /> * [https://github.com/ordishs/go-bitcoin go-bitcoin] is a wrapper library to the Bitcoin SV RPC implemented in Golang.<br /> <br /> * [https://github.com/kzbsv/KzBsv KzBsv] is a work in progress C# library for Bitcoin SV.<br /> <br /> * [https://github.com/nextcashtech/bitcoin Nextcash] is a C++ BSV implementation.<br /> <br /> * [https://hexdocs.pm/bsv/BSV.html BSV-ex] is a Bitcoin SV library implemented in Elixir.<br /> <br /> * [https://github.com/kevinejohn/bsv-minimal bsv-minimal] is a lean re-implementation of the BSV library in Javascript, optimized to process big blocks efficiently.<br /> <br /> * Contact the Bitcoin Association to have your Bitcoin node or wallet code library added.</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Peer-to-Peer_Network_Architecture&diff=2235 2020-02-19T11:17:56Z

<p>AlexMackay: </p> <hr /> <div>Peer-to-Peer computing or networking is a distributed application network architecture that spreads workload between peers. Peers are equally privileged, participate equally in the application and are said to form a peer-to-peer network of nodes [1]. <br /> <br /> ==Bitcoin as a Peer-to-Peer Network==<br /> <br /> Formally, Bitcoin is a peer-to-peer network built on top of the internet. In the early days of Bitcoin the network had a flat topological structure, in which users were capable of running full nodes that could perform all of Bitcoin's main functions: transaction creation, transaction validation and [[Mining |mining]] (see [https://www.metzdowd.com/pipermail/cryptography/2009-January/014994.html bitcoinv0.1]). However, as the network has grown, the requirements needed to perform each function on the network has evolved creating a necessity for nodes to specialize. Currently, the 3 main functions of the Bitcoin system are, in general, performed by separate actors within the ecosystem. Transaction creation is done by [[Simplified Payment Verification|SPV]] wallets. Transaction validation is done by the Bitcoin SV node client software and mining is a separate function performed using purpose built mining software.<br /> <br /> ==Peer-to-Peer Architecture and the Bitcoin Scalability Dispute==<br /> <br /> Peer-to-peer is a term often misused and misunderstood, partly due the philosophical significance of ''decentralization'' which is seen as a key feature of blockchain technology. It has also been at the heart of disputes within the Bitcoin community that have lead to contentious forks that have split the Bitcoin blockchain on two occasions as well as a general slow-down in the development of the technology. <br /> <br /> On one hand the role of transaction validation and mining cannot be [[Attacks on Bitcoin|dominated by a single entity]] as the network would cease to provide any cryptographic or game theoretic advantages over existing centralized digital money systems. However, one of the main barriers to scaling is the extreme waste caused by forcing all users to perform all Bitcoin functions. Whilst it is true that engineering trade-offs between decentralization and scalability have to be made, it is the firm belief of the Bitcoin SV community that scalability can be achieved through specialization whilst maintaining strong security and moderate decentralization.<br /> <br /> ==References==<br /> 1. Rüdiger Schollmeier, A Definition of Peer-to-Peer Networking for the Classification of Peer-to-Peer Architectures and Applications, Proceedings of the First International Conference on Peer-to-Peer Computing, IEEE (2002).</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Peer-to-Peer_Network_Architecture&diff=2234 2020-02-19T11:17:34Z

<p>AlexMackay: </p> <hr /> <div>Peer-to-Peer computing or networking is a distributed application network architecture that spreads workload between peers. Peers are equally privileged, participate equally in the application and are said to form a peer-to-peer network of nodes [1]. <br /> <br /> ==Bitcoin as a Peer-to-Peer Network==<br /> <br /> Formally, Bitcoin is a peer-to-peer network built on top of the internet. In the early days of Bitcoin the network had a flat topological structure, in which users were capable of running full nodes that could perform all of Bitcoin's main functions: transaction creation, transaction validation and [[Mining |mining]] (see [https://www.metzdowd.com/pipermail/cryptography/2009-January/014994.html bitcoinv0.1]). However, as the network has grown, the requirements needed to perform each function on the network has evolved creating a necessity for nodes to specialize. Currently, the 3 main functions of the Bitcoin system are, in general, performed by separate actors within the ecosystem. Transaction creation is done by [[Simplified Payment Verification|SPV]] wallets. Transaction validation is done by the Bitcoin SV node client software and mining is a separate function performed using purpose built mining software.<br /> <br /> ==Peer-to-Peer Architecture and the Bitcoin Scalability Dispute==<br /> <br /> Peer-to-peer is a term often misused and misunderstood, partly due the philosophical significance of ''decentralization'' which is seen as a key feature of blockchain technology. It has also been at the heart of disputes within the Bitcoin community that have lead to contentious forks that have split the Bitcoin blockchain on two occasions as well as a general slow-down in the development of the technology. <br /> <br /> On one hand the role of transaction validation and mining cannot be [[Attacks on Bitcoin|dominated by a single entity]] as the network would cease to provide any cryptographic or game theoretic advantages to existing centralized digital money systems. However, one of the main barriers to scaling is the extreme waste caused by forcing all users to perform all Bitcoin functions. Whilst it is true that engineering trade-offs between decentralization and scalability have to be made, it is the firm belief of the Bitcoin SV community that scalability can be achieved through specialization whilst maintaining strong security and moderate decentralization.<br /> <br /> ==References==<br /> 1. Rüdiger Schollmeier, A Definition of Peer-to-Peer Networking for the Classification of Peer-to-Peer Architectures and Applications, Proceedings of the First International Conference on Peer-to-Peer Computing, IEEE (2002).</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Secp256k1&diff=2175 2020-02-18T10:42:50Z

<p>AlexMackay: </p> <hr /> <div>[[File:Elliptic-Curve-E-0-7-Real-Number.png|thumb |This is a graph of secp256k1's elliptic curve ''y&lt;sup&gt;2&lt;/sup&gt; = x&lt;sup&gt;3&lt;/sup&gt; + 7'' over the real numbers. Note that because secp256k1 is actually defined over the field Z&lt;sub&gt;p&lt;/sub&gt;, its graph will in reality look like random scattered points, not anything like this.]]<br /> <br /> '''secp256k1''' refers to the parameters of the elliptic curve used in Bitcoin's public-key cryptography, and is defined in ''Standards for Efficient Cryptography (SEC)'' (Certicom Research, http://www.secg.org/sec2-v2.pdf). Currently Bitcoin uses secp256k1 with the [[Elliptic Curve Digital Signature Algorithm|ECDSA]] algorithm.<br /> <br /> secp256k1 was almost never used before Bitcoin became popular, but it is now gaining in popularity due to its several nice properties. Most commonly-used curves have a random structure, but secp256k1 was constructed in a special non-random way which allows for especially efficient computation. As a result, it is often more than 30% faster than other curves if the implementation is sufficiently optimized. Also, unlike the popular NIST curves, secp256k1's constants were selected in a predictable way, which significantly reduces the possibility that the curve's creator inserted any sort of backdoor into the curve.<br /> <br /> === Technical details ===<br /> <br /> As excerpted from ''Standards'': <br /> <br /> The elliptic curve domain parameters over F''&lt;sub&gt;p&lt;/sub&gt;'' associated with a Koblitz curve secp256k1 are specified<br /> by the sextuple T = (''p,a,b,G,n,h'') where the finite field F''&lt;sub&gt;p&lt;/sub&gt;'' is defined by:<br /> * ''p'' = FFFFFFFF FFFFFFFF FFFFFFFF FFFFFFFF FFFFFFFF FFFFFFFF FFFFFFFE FFFFFC2F<br /> * = 2&lt;sup&gt;256&lt;/sup&gt; - 2&lt;sup&gt;32&lt;/sup&gt; - 2&lt;sup&gt;9&lt;/sup&gt; - 2&lt;sup&gt;8&lt;/sup&gt; - 2&lt;sup&gt;7&lt;/sup&gt; - 2&lt;sup&gt;6&lt;/sup&gt; - 2&lt;sup&gt;4&lt;/sup&gt; - 1<br /> <br /> The curve ''E'': ''y&lt;sup&gt;2&lt;/sup&gt; = x&lt;sup&gt;3&lt;/sup&gt;+ax+b'' over F''&lt;sub&gt;p&lt;/sub&gt;'' is defined by:<br /> * ''a'' = 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000<br /> * ''b'' = 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000007<br /> <br /> The base point G in compressed form is:<br /> * ''G'' = 02 79BE667E F9DCBBAC 55A06295 CE870B07 029BFCDB 2DCE28D9 59F2815B 16F81798<br /> and in uncompressed form is:<br /> * ''G'' = 04 79BE667E F9DCBBAC 55A06295 CE870B07 029BFCDB 2DCE28D9 59F2815B 16F81798 483ADA77 26A3C465 5DA4FBFC 0E1108A8 FD17B448 A6855419 9C47D08F FB10D4B8<br /> Finally the order ''n'' of ''G'' and the cofactor are:<br /> * ''n'' = FFFFFFFF FFFFFFFF FFFFFFFF FFFFFFFE BAAEDCE6 AF48A03B BFD25E8C D0364141<br /> * ''h'' = 01<br /> <br /> === Properties ===<br /> <br /> * secp256k1 has characteristic ''p'', it is defined over the prime field ℤ&lt;sub&gt;''p''&lt;/sub&gt;. Some other curves in common use have characteristic ''2'', and are defined over a binary Galois field ''GF(2&lt;sup&gt;n&lt;/sup&gt;)'', but secp256k1 is not one of them.<br /> * As the ''a'' constant is zero, the ''ax'' term in the curve equation is always zero, hence the curve equation becomes ''y&lt;sup&gt;2&lt;/sup&gt; = x&lt;sup&gt;3&lt;/sup&gt; + 7''.<br /> <br /> ==Attribution==<br /> This content is based on content sourced from https://en.bitcoin.it/wiki/Secp256k1 under [https://creativecommons.org/licenses/by/3.0/ Creative Commons Attribution 3.0]. Although it may have been extensively revised and updated we acknowledge the original authors.</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=File:Secp256k1.png&diff=2168 2020-02-18T10:06:18Z

<p>AlexMackay: </p> <hr /> <div></div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=VOUT&diff=2156 2020-02-17T14:30:05Z

<p>AlexMackay: </p> <hr /> <div>A '''transaction outpoint''' or '''transaction output number''' is (most often used to refer to) a 4-bye index indicating the position of a [[Bitcoin Transactions|transaction]] output. <br /> <br /> ==Technical Details==<br /> In the technical specification of Bitcoin SV &quot;vout&quot; has two interpretations. When it appears in an input of a transaction, it is a 4 byte index value. This index is concatenated with a [[TXID|transaction ID]] (TxID || vout) to form an outpoint, uniquely identifying an output of the (previous) transaction output being spent. As the index is a 4-byte integer, this gives users the ability to include up to 2&lt;sup&gt;32&lt;/sup&gt; outputs in a single Bitcoin transaction. <br /> <br /> When it is not part of the input, it refers to a vector of outputs in a transaction. That is, &quot;vout&quot; is the keyword identifying the list of all outputs of a transaction [1], where each output contains output value (the amount of BSV) and scriptPubKey (a script that locks the output value). Note that the order within the set matters. <br /> <br /> ==Unspent Transaction Outputs==<br /> If an outpoint has not been spent, it is referred to as an Unspent Transaction Output or [[UTXO]] and can be used in the creation of a new transaction by a user that is able to satisfy the spending conditions defined by the output script. Once an outpoint has been used as an input to a [[Bitcoin Transactions|transaction]] that has been validated by the mining network it is considered spent and can no longer be used in a new transaction (see [[Double-spending]]). <br /> <br /> ==Zero value outputs==<br /> Outputs that do not contain a value in [[Satoshis]] are often used to hold scripts that carry large data items or tokens. Provably unspendable zero-value [[False Return]] outputs have been predominantly used as a means to attach data to bitcoin transactions. False return transaction outputs are not stored in the UTXO set derived by miners. It should be noted that this is not the only mechanism for data storage, it is just the one that was easiest to use prior to the Genesis protocol restoration.<br /> <br /> Non-[[False Return|false return]] zero value outputs are still valid UTXOs and can be used as inputs in a transaction, with locking conditions being applied as normal.<br /> <br /> ==See Also==<br /> * - [[TXID]]<br /> * - [[Bitcoin Transactions]]<br /> <br /> ==References==<br /> [1] - https://github.com/bitcoin-sv/bitcoin-sv/blob/7fd177c7c443ff7723d88c5465fbf39285388e30/src/primitives/transaction.h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=VOUT&diff=2155 2020-02-17T14:29:21Z

<p>AlexMackay: </p> <hr /> <div>A '''transaction outpoint''' or '''transaction output number''' is (most often used to refer to) a 4-bye index indicating the position of a [[Bitcoin Transactions|transaction]] output. <br /> <br /> ==Technical Details==<br /> In the technical specification of Bitcoin SV &quot;vout&quot; has two interpretations. When it appears in an input of a transaction, it is a 4 byte index value. This index is concatenated with a [[TXID|transaction ID]] (TxID || vout) to form an outpoint, uniquely identifying an output of the (previous) transaction output being spent. As the index is a 4-byte integer, this gives users the ability to include up to 2&lt;sup&gt;32&lt;/sup&gt; outputs in a single Bitcoin transaction. <br /> <br /> When it is not part of the input, it refers to a vector of outputs in a transaction. That is, &quot;vout&quot; is the keyword identifying the list of all outputs of a transaction, where each output contains output value (the amount of BSV) and scriptPubKey (a script that locks the output value). Note that the order within the set matters. <br /> <br /> ==Unspent Transaction Outputs==<br /> If an outpoint has not been spent, it is referred to as an Unspent Transaction Output or [[UTXO]] and can be used in the creation of a new transaction by a user that is able to satisfy the spending conditions defined by the output script. Once an outpoint has been used as an input to a [[Bitcoin Transactions|transaction]] that has been validated by the mining network it is considered spent and can no longer be used in a new transaction (see [[Double-spending]]). <br /> <br /> ==Zero value outputs==<br /> Outputs that do not contain a value in [[Satoshis]] are often used to hold scripts that carry large data items or tokens. Provably unspendable zero-value [[False Return]] outputs have been predominantly used as a means to attach data to bitcoin transactions. False return transaction outputs are not stored in the UTXO set derived by miners. It should be noted that this is not the only mechanism for data storage, it is just the one that was easiest to use prior to the Genesis protocol restoration.<br /> <br /> Non-[[False Return|false return]] zero value outputs are still valid UTXOs and can be used as inputs in a transaction, with locking conditions being applied as normal.<br /> <br /> ==See Also==<br /> * - [[TXID]]<br /> * - [[Bitcoin Transactions]]<br /> <br /> ==References==<br /> [1] - https://github.com/bitcoin-sv/bitcoin-sv/blob/7fd177c7c443ff7723d88c5465fbf39285388e30/src/primitives/transaction.h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=VOUT&diff=2154 2020-02-17T14:20:01Z

<p>AlexMackay: </p> <hr /> <div>A '''transaction outpoint''' or '''transaction output number''' is (most often used to refer to) a 4-bye index indicating the position of a [[Bitcoin Transactions|transaction]] output. <br /> <br /> ==Technical Details==<br /> In the technical specification of Bitcoin SV &quot;vout&quot; has two interpretations. When it appears in an input of a transaction, it is a 4 byte index value. This index is concatenated with a [[TXID|transaction ID]] (TxID || vout) to form an outpoint, uniquely identifying an output of the (previous) transaction output being spent. As the index is a 4-byte integer, this gives users the effective ability to include a maximum of 2&lt;sup&gt;32&lt;/sup&gt; outputs in a Bitcoin transaction. <br /> <br /> When it is not part of the input, it refers to a vector of outputs in a transaction. That is, &quot;vout&quot; is the keyword identifying the list of all outputs of a transaction, where each output contains output value (the amount of BSV) and scriptPubKey (a script that locks the output value). Note that the order within the set matters. <br /> <br /> ==Unspent Transaction Outputs==<br /> If an outpoint has not been spent, it is referred to as an Unspent Transaction Output or [[UTXO]] and can be used in the creation of a new transaction by a user that is able to satisfy the spending conditions defined by the output script. Once an outpoint has been used as an input to a [[Bitcoin Transactions|transaction]] that has been validated by the mining network it is considered spent and can no longer be used in a new transaction (see [[Double-spending]]). <br /> <br /> ==Zero value outputs==<br /> Outputs that do not contain a value in [[Satoshis]] are often used to hold scripts that carry large data items or tokens. Provably unspendable zero-value [[False Return]] outputs have been predominantly used as a means to attach data to bitcoin transactions. False return transaction outputs are not stored in the UTXO set derived by miners. It should be noted that this is not the only mechanism for data storage, it is just the one that was easiest to use prior to the Genesis protocol restoration.<br /> <br /> Non-[[False Return|false return]] zero value outputs are still valid UTXOs and can be used as inputs in a transaction, with locking conditions being applied as normal.<br /> <br /> ==See Also==<br /> * - [[TXID]]<br /> * - [[Bitcoin Transactions]]<br /> <br /> ==References==<br /> [1] - https://github.com/bitcoin-sv/bitcoin-sv/blob/7fd177c7c443ff7723d88c5465fbf39285388e30/src/primitives/transaction.h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=VOUT&diff=2153 2020-02-17T14:19:46Z

<p>AlexMackay: </p> <hr /> <div>A '''transaction outpoint''' or '''transaction output number''' is (most often used to refer to) a 4-bye index indicating the position of a [[Bitcoin Transaction|transaction]] output. <br /> <br /> ==Technical Details==<br /> In the technical specification of Bitcoin SV &quot;vout&quot; has two interpretations. When it appears in an input of a transaction, it is a 4 byte index value. This index is concatenated with a [[TXID|transaction ID]] (TxID || vout) to form an outpoint, uniquely identifying an output of the (previous) transaction output being spent. As the index is a 4-byte integer, this gives users the effective ability to include a maximum of 2&lt;sup&gt;32&lt;/sup&gt; outputs in a Bitcoin transaction. <br /> <br /> When it is not part of the input, it refers to a vector of outputs in a transaction. That is, &quot;vout&quot; is the keyword identifying the list of all outputs of a transaction, where each output contains output value (the amount of BSV) and scriptPubKey (a script that locks the output value). Note that the order within the set matters. <br /> <br /> ==Unspent Transaction Outputs==<br /> If an outpoint has not been spent, it is referred to as an Unspent Transaction Output or [[UTXO]] and can be used in the creation of a new transaction by a user that is able to satisfy the spending conditions defined by the output script. Once an outpoint has been used as an input to a [[Bitcoin Transactions|transaction]] that has been validated by the mining network it is considered spent and can no longer be used in a new transaction (see [[Double-spending]]). <br /> <br /> ==Zero value outputs==<br /> Outputs that do not contain a value in [[Satoshis]] are often used to hold scripts that carry large data items or tokens. Provably unspendable zero-value [[False Return]] outputs have been predominantly used as a means to attach data to bitcoin transactions. False return transaction outputs are not stored in the UTXO set derived by miners. It should be noted that this is not the only mechanism for data storage, it is just the one that was easiest to use prior to the Genesis protocol restoration.<br /> <br /> Non-[[False Return|false return]] zero value outputs are still valid UTXOs and can be used as inputs in a transaction, with locking conditions being applied as normal.<br /> <br /> ==See Also==<br /> * - [[TXID]]<br /> * - [[Bitcoin Transactions]]<br /> <br /> ==References==<br /> [1] - https://github.com/bitcoin-sv/bitcoin-sv/blob/7fd177c7c443ff7723d88c5465fbf39285388e30/src/primitives/transaction.h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=VOUT&diff=2152 2020-02-17T14:19:21Z

<p>AlexMackay: </p> <hr /> <div>A '''transaction outpoint''' or '''transaction output number''' is (most often used to refer to) a 4-bye index indicating the position of a [[Bitcoin transaction|transaction]] output. <br /> <br /> ==Technical Details==<br /> In the technical specification of Bitcoin SV &quot;vout&quot; has two interpretations. When it appears in an input of a transaction, it is a 4 byte index value. This index is concatenated with a [[TXID|transaction ID]] (TxID || vout) to form an outpoint, uniquely identifying an output of the (previous) transaction output being spent. As the index is a 4-byte integer, this gives users the effective ability to include a maximum of 2&lt;sup&gt;32&lt;/sup&gt; outputs in a Bitcoin transaction. <br /> <br /> When it is not part of the input, it refers to a vector of outputs in a transaction. That is, &quot;vout&quot; is the keyword identifying the list of all outputs of a transaction, where each output contains output value (the amount of BSV) and scriptPubKey (a script that locks the output value). Note that the order within the set matters. <br /> <br /> ==Unspent Transaction Outputs==<br /> If an outpoint has not been spent, it is referred to as an Unspent Transaction Output or [[UTXO]] and can be used in the creation of a new transaction by a user that is able to satisfy the spending conditions defined by the output script. Once an outpoint has been used as an input to a [[Bitcoin Transactions|transaction]] that has been validated by the mining network it is considered spent and can no longer be used in a new transaction (see [[Double-spending]]). <br /> <br /> ==Zero value outputs==<br /> Outputs that do not contain a value in [[Satoshis]] are often used to hold scripts that carry large data items or tokens. Provably unspendable zero-value [[False Return]] outputs have been predominantly used as a means to attach data to bitcoin transactions. False return transaction outputs are not stored in the UTXO set derived by miners. It should be noted that this is not the only mechanism for data storage, it is just the one that was easiest to use prior to the Genesis protocol restoration.<br /> <br /> Non-[[False Return|false return]] zero value outputs are still valid UTXOs and can be used as inputs in a transaction, with locking conditions being applied as normal.<br /> <br /> ==See Also==<br /> * - [[TXID]]<br /> * - [[Bitcoin Transactions]]<br /> <br /> ==References==<br /> [1] - https://github.com/bitcoin-sv/bitcoin-sv/blob/7fd177c7c443ff7723d88c5465fbf39285388e30/src/primitives/transaction.h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=VOUT&diff=2151 2020-02-17T14:18:05Z

<p>AlexMackay: </p> <hr /> <div>A '''transaction outpoint''' or '''transaction output number''' is (most often used to refer to) a 4-bye index indicating the position of a transaction output. <br /> <br /> ==Technical Details==<br /> In the technical specification of Bitcoin SV &quot;vout&quot; has two interpretations. When it appears in an input of a transaction, it is a 4 byte index value. This index is concatenated with a [[TXID|transaction ID]] (TxID || vout) to form an outpoint, uniquely identifying an output of the (previous) transaction output being spent. As the index is a 4-byte integer, this gives users the effective ability to include a maximum of 2&lt;sup&gt;32&lt;/sup&gt; outputs in a Bitcoin transaction. <br /> <br /> When it is not part of the input, it refers to a vector of outputs in a transaction. That is, &quot;vout&quot; is the keyword identifying the list of all outputs of a transaction, where each output contains output value (the amount of BSV) and scriptPubKey (a script that locks the output value). Note that the order within the set matters. <br /> <br /> ==Unspent Transaction Outputs==<br /> If an outpoint has not been spent, it is referred to as an Unspent Transaction Output or [[UTXO]] and can be used in the creation of a new transaction by a user that is able to satisfy the spending conditions defined by the output script. Once an outpoint has been used as an input to a [[Bitcoin Transactions|transaction]] that has been validated by the mining network it is considered spent and can no longer be used in a new transaction (see [[Double-spending]]). <br /> <br /> ==Zero value outputs==<br /> Outputs that do not contain a value in [[Satoshis]] are often used to hold scripts that carry large data items or tokens. Provably unspendable zero-value [[False Return]] outputs have been predominantly used as a means to attach data to bitcoin transactions. False return transaction outputs are not stored in the UTXO set derived by miners. It should be noted that this is not the only mechanism for data storage, it is just the one that was easiest to use prior to the Genesis protocol restoration.<br /> <br /> Non-[[False Return|false return]] zero value outputs are still valid UTXOs and can be used as inputs in a transaction, with locking conditions being applied as normal.<br /> <br /> ==See Also==<br /> * - [[TXID]]<br /> * - [[Bitcoin Transactions]]<br /> <br /> ==References==<br /> [1] - https://github.com/bitcoin-sv/bitcoin-sv/blob/7fd177c7c443ff7723d88c5465fbf39285388e30/src/primitives/transaction.h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=VOUT&diff=2150 2020-02-17T14:10:34Z

<p>AlexMackay: </p> <hr /> <div>A '''transaction outpoint''' or '''transaction output number''' is (most often used to refer to) a 4-bye index indicating the position of a particular transaction output within a transaction. <br /> <br /> ==Technical Details==<br /> In the technical specification of Bitcoin SV &quot;vout&quot; has two interpretations. When it appears in an input of a transaction, it is a 4 byte index value. This index is concatenated with a [[TXID|transaction ID]] (TxID || vout) to form an outpoint, uniquely identifying an output of the (previous) transaction output being spent. As the index is a 4-byte integer, this gives users the effective ability to include a maximum of 2&lt;sup&gt;32&lt;/sup&gt; outputs in a Bitcoin transaction. <br /> <br /> When it is not part of the input, it refers to a vector of outputs in a transaction. That is, &quot;vout&quot; is the keyword identifying the list of all outputs of a transaction, where each output contains output value (the amount of BSV) and scriptPubKey (a script that locks the output value). Note that the order within the set matters. <br /> <br /> ==Unspent Transaction Outputs==<br /> If an outpoint has not been spent, it is referred to as an Unspent Transaction Output or [[UTXO]] and can be used in the creation of a new transaction by a user that is able to satisfy the spending conditions defined by the output script. Once an outpoint has been used as an input to a [[Bitcoin Transactions|transaction]] that has been validated by the mining network it is considered spent and can no longer be used in a new transaction (see [[Double-spending]]). <br /> <br /> ==Zero value outputs==<br /> Outputs that do not contain a value in [[Satoshis]] are often used to hold scripts that carry large data items or tokens. Provably unspendable zero-value [[False Return]] outputs have been predominantly used as a means to attach data to bitcoin transactions. False return transaction outputs are not stored in the UTXO set derived by miners. It should be noted that this is not the only mechanism for data storage, it is just the one that was easiest to use prior to the Genesis protocol restoration.<br /> <br /> Non-[[False Return|false return]] zero value outputs are still valid UTXOs and can be used as inputs in a transaction, with locking conditions being applied as normal.<br /> <br /> ==See Also==<br /> * - [[TXID]]<br /> * - [[Bitcoin Transactions]]<br /> <br /> ==References==<br /> [1] - https://github.com/bitcoin-sv/bitcoin-sv/blob/7fd177c7c443ff7723d88c5465fbf39285388e30/src/primitives/transaction.h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=VOUT&diff=2149 2020-02-17T14:07:40Z

<p>AlexMackay: </p> <hr /> <div>A '''transaction outpoint''' or '''transaction output number''' is (most often used to refer to) a 4-bye index indicating the position of a particular transaction output within a transaction. <br /> <br /> ==Technical Details==<br /> In the technical specification of Bitcoin SV &quot;vout&quot; has two interpretations. When it appears in an input of a transaction, it is a 4 byte index value. This index is concatenated with a [[TXID|transaction ID]] (TxID || vout) to form an outpoint, uniquely identifying an output of the (previous) transaction output being spent. As the index is a 4-byte integer, this gives users the effective ability to include a maximum of 2&lt;sup&gt;32&lt;/sup&gt; outputs in a Bitcoin transaction. <br /> <br /> When it is not part of the input, it refers to a vector of outputs in a transaction. That is, &quot;vout&quot; is the JSON keyword identifying the set of all outputs of a transaction, where each output contains output value (the amount of BSV) and scriptPubKey (a script that locks the output value). Note that the order within the set matters. <br /> <br /> ==Unspent Transaction Outputs==<br /> If an outpoint has not been spent, it is referred to as an Unspent Transaction Output or [[UTXO]] and can be used in the creation of a new transaction by a user that is able to satisfy the spending conditions defined by the output script. Once an outpoint has been used as an input to a [[Bitcoin Transactions|transaction]] that has been validated by the mining network it is considered spent and can no longer be used in a new transaction (see [[Double-spending]]). <br /> <br /> ==Zero value outputs==<br /> Outputs that do not contain a value in [[Satoshis]] are often used to hold scripts that carry large data items or tokens. Provably unspendable zero-value [[False Return]] outputs have been predominantly used as a means to attach data to bitcoin transactions. False return transaction outputs are not stored in the UTXO set derived by miners. It should be noted that this is not the only mechanism for data storage, it is just the one that was easiest to use prior to the Genesis protocol restoration.<br /> <br /> Non-[[False Return|false return]] zero value outputs are still valid UTXOs and can be used as inputs in a transaction, with locking conditions being applied as normal.<br /> <br /> ==See Also==<br /> * - [[TXID]]<br /> * - [[Bitcoin Transactions]]<br /> <br /> ==References==<br /> [1] - https://github.com/bitcoin-sv/bitcoin-sv/blob/7fd177c7c443ff7723d88c5465fbf39285388e30/src/primitives/transaction.h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=VOUT&diff=2148 2020-02-17T14:06:27Z

<p>AlexMackay: </p> <hr /> <div>A '''transaction outpoint''' or '''transaction output number''' is (most often used to refer to) a 4-bye index indicating the position of a particular transaction output within a transaction. <br /> <br /> ==Technical Details==<br /> In the technical specification of Bitcoin SV &quot;vout&quot; has two interpretations. When it appears in an input of a transaction, it is a 4 byte index value. This index is concatenated with a [[TXID|transaction ID]] (TxID || vout) to form an outpoint, uniquely identifying an output of a previous transaction output being spent. As the index is a 4-byte integer, this gives users the effective ability to include a maximum of 2&lt;sup&gt;32&lt;/sup&gt; outputs in a Bitcoin transaction. <br /> <br /> When it is not part of the input, it refers to a vector of outputs in a transaction. That is, &quot;vout&quot; is the JSON keyword identifying the set of all outputs of a transaction, where each output contains output value (the amount of BSV) and scriptPubKey (a script that locks the output value). Note that the order within the set matters. <br /> <br /> ==Unspent Transaction Outputs==<br /> If an outpoint has not been spent, it is referred to as an Unspent Transaction Output or [[UTXO]] and can be used in the creation of a new transaction by a user that is able to satisfy the spending conditions defined by the output script. Once an outpoint has been used as an input to a [[Bitcoin Transactions|transaction]] that has been validated by the mining network it is considered spent and can no longer be used in a new transaction (see [[Double-spending]]). <br /> <br /> ==Zero value outputs==<br /> Outputs that do not contain a value in [[Satoshis]] are often used to hold scripts that carry large data items or tokens. Provably unspendable zero-value [[False Return]] outputs have been predominantly used as a means to attach data to bitcoin transactions. False return transaction outputs are not stored in the UTXO set derived by miners. It should be noted that this is not the only mechanism for data storage, it is just the one that was easiest to use prior to the Genesis protocol restoration.<br /> <br /> Non-[[False Return|false return]] zero value outputs are still valid UTXOs and can be used as inputs in a transaction, with locking conditions being applied as normal.<br /> <br /> ==See Also==<br /> * - [[TXID]]<br /> * - [[Bitcoin Transactions]]<br /> <br /> ==References==<br /> [1] - https://github.com/bitcoin-sv/bitcoin-sv/blob/7fd177c7c443ff7723d88c5465fbf39285388e30/src/primitives/transaction.h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=VOUT&diff=2140 2020-02-17T13:52:25Z

<p>AlexMackay: </p> <hr /> <div>A '''transaction outpoint''' or '''transaction output number''' is (most often used to refer to) a 4-bye index indicating the position of a particular transaction output within a transaction. <br /> <br /> ==Technical Details==<br /> However, in the technical specification of Bitcoin SV &quot;vout&quot; has two interpretations. When it appears in an input of a transaction, it is a 4 byte index. It is concatenated with a transaction ID (TxID || vout) to form an outpoint that is used to uniquely identify a particular output of a transaction being spent. As the index is a 4 byte number, this gives users the effective ability to include a maximum of 2&lt;sup&gt;32&lt;/sup&gt; outputs in a Bitcoin transaction. <br /> <br /> When it is not part of the input, it refers to a vector of outputs in a transaction. That is, &quot;vout&quot; is the JSON keyword identifying the set of all outputs of a transaction, where each output contains output value (the amount of BSV) and scriptPubKey (a script that locks the output value). Note that the order within the set matters. <br /> <br /> ==Unspent Transaction Outputs==<br /> If an outpoint has not been spent, it is referred to as an Unspent Transaction Output or [[UTXO]] and can be used in the creation of a new transaction by a user that is able to satisfy the spending conditions defined by the output script. Once an outpoint has been used as an input to a [[Bitcoin Transactions|transaction]] that has been validated by the mining network it is considered spent and can no longer be used in a new transaction (see [[Double-spending]]). <br /> <br /> ==Zero value outputs==<br /> Outputs that do not contain a value in [[Satoshis]] are often used to hold scripts that carry large data items or tokens. Provably unspendable zero-value [[False Return]] outputs have been predominantly used as a means to attach data to bitcoin transactions. False return transaction outputs are not stored in the UTXO set derived by miners. It should be noted that this is not the only mechanism for data storage, it is just the one that was easiest to use prior to the Genesis protocol restoration.<br /> <br /> Non-[[False Return|false return]] zero value outputs are still valid UTXOs and can be used as inputs in a transaction, with locking conditions being applied as normal.<br /> <br /> ==See Also==<br /> * - [[TXID]]<br /> * - [[Bitcoin Transactions]]<br /> <br /> ==References==<br /> [1] - https://github.com/bitcoin-sv/bitcoin-sv/blob/7fd177c7c443ff7723d88c5465fbf39285388e30/src/primitives/transaction.h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=VOUT&diff=2100 2020-02-17T12:20:23Z

<p>AlexMackay: </p> <hr /> <div>A '''transaction outpoint''' or '''transaction output number''' is a 4-bye index indicating the position of a particular transaction output within a transaction. <br /> <br /> However, in the technical specification of Bitcoin SV &quot;vout&quot; has two interpretations. When it appears in an input of a transaction, it is an index of 4 bytes. It is concatenated with a transaction ID (TxID || vout) to form an outpoint that is used to uniquely identify a particular output of a transaction being spent. As the index is a 4 byte number, this gives users the effective ability to include a maximum of 2&lt;sup&gt;32&lt;/sup&gt; outputs in a Bitcoin transaction. <br /> <br /> When it is not part of the input, it refers to a vector of outputs in a transaction. That is, &quot;vout&quot; is the JSON keyword identifying the set of all outputs of a transaction, where each output contains output value (the amount of BSV) and scriptPubKey (a script that locks the output value). Note that the order within the set matters. <br /> <br /> ==Unspent Transaction Outputs==<br /> If an outpoint has not been spent, it is referred to as an Unspent Transaction Output or [[UTXO]] and can be used in the creation of a new transaction by a user that is able to satisfy the spending conditions defined by the output script. Once an outpoint has been used as an input to a [[Bitcoin Transactions|transaction]] that has been validated by the mining network it is considered spent and can no longer be used in a new transaction (see [[Double-spending]]). <br /> <br /> ==Zero value outputs==<br /> Outputs that do not contain a value in [[Satoshis]] are often used to hold scripts that carry large data items or tokens. Provably unspendable zero-value [[False Return]] outputs have been predominantly used as a means to attach data to bitcoin transactions. False return transaction outputs are not stored in the UTXO set derived by miners. It should be noted that this is not the only mechanism for data storage, it is just the one that was easiest to use prior to the Genesis protocol restoration.<br /> <br /> Non-[[False Return|false return]] zero value outputs are still valid UTXOs and can be used as inputs in a transaction, with locking conditions being applied as normal.<br /> <br /> ==See Also==<br /> * - [[TXID]]<br /> * - [[Bitcoin Transactions]]<br /> <br /> ==References==<br /> [1] - https://github.com/bitcoin-sv/bitcoin-sv/blob/7fd177c7c443ff7723d88c5465fbf39285388e30/src/primitives/transaction.h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2091 2020-02-17T12:08:54Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==Satoshis and the Miner Subsidy Schedule==<br /> <br /> The total number of satoshis in existence is limited to 2.15 x 10&lt;sup&gt;15&lt;/sup&gt; (21 million BSV) and are issued at a mathematically predictable rate using a [[Miner subsidy|miner subsidy]] formula. The miner subsidy, which [[Genesis block|began]] at 50 newly minted bitcoins per block, is scheduled to divide in 2 every 210,000 blocks, approximately every 4 years. At the time of the 6th halvening (approximately 2032) the miner subsidy will fall below 1 BSV to 78125000 Satoshis (0.78125 BSV).<br /> <br /> By the time of the 31st halvening (approximately the year 2136) the miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish, meaning that mining will be sustained through [[Transaction fees|transaction fees]] alone.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2089 2020-02-17T12:08:01Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==Satoshis and the Miner Subsidy Schedule==<br /> <br /> The total number of satoshis in existence is limited to 2.15 x 10&lt;sup&gt;15&lt;/sup&gt; (21 million BSV) and are issued at a mathematically predictable rate using a [[Miner subsidy|miner subsidy]] formula. The miner subsidy, which began at 50 newly minted bitcoins per block, is scheduled to divide in 2 every 210,000 blocks, approximately every 4 years. At the time of the 6th halvening (approximately 2032) the miner subsidy will fall below 1 BSV to 78125000 Satoshis (0.78125 BSV).<br /> <br /> By the time of the 31st halvening (approximately the year 2136) the miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish, meaning that mining will be sustained through [[Transaction fees|transaction fees]] alone.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2088 2020-02-17T12:06:28Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==Satoshis and the Miner Subsidy Schedule==<br /> <br /> The total number of satoshis in existence is limited to 2.15 x 10&lt;sup&gt;15&lt;/sup&gt; (21 million BSV) and are issued at a mathematically predictable rate using a [[Miner subsidy|miner subsidy]] formula. The miner subsidy is scheduled to divide in 2 every 210,000 blocks, approximately every 4 years. At the time of the 6th halvening (approximately 2032) the miner subsidy will fall below 1 BSV to 78125000 Satoshis (0.78125 BSV).<br /> <br /> By the time of the 31st halvening (approximately the year 2136) the miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish, meaning that mining will be sustained through [[Transaction fees|transaction fees]] alone.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2083 2020-02-17T12:02:48Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==Satoshis and the Miner Subsidy Schedule==<br /> <br /> The total number of satoshis in existence is limited to 2.15 x 10&lt;sup&gt;15&lt;/sup&gt; (21 million BSV) and issued at a mathematically defined rate though a [[Miner subsidy|miner subsidy]]. The miner subsidy is scheduled to divide in 2 every 210,000 blocks, approximately every 4 years. At the time of the 6th halvening (approximately 2032) the miner subsidy will fall below 1 BSV to 78125000 Satoshis (0.78125 BSV).<br /> <br /> By the time of the 31st halvening (approximately the year 2136) the miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish, meaning that mining will be sustained through [[Transaction fees|transaction fees]] alone.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2080 2020-02-17T12:01:10Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==Satoshis and the Miner Subsidy Schedule==<br /> <br /> The total number of satoshis in existence is limited to 2.15 x 10&lt;sup&gt;15&lt;/sup&gt; (21 million BSV) and issued at a mathematically defined rate though a [[Miner subsidy|miner subsidy]]. The miner subsidy is scheduled to divide in 2 every 210,000 blocks, approximately every 4 years. At the time of the 6th halvening (approximately 2032) the miner subsidy will fall below 1 BSV to 78125000 Satoshis (0.78125 BSV).<br /> <br /> By the time of the 31st halvening (approximately the year 2136) the miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2078 2020-02-17T11:59:32Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==Satoshis and the Miner Subsidy Schedule==<br /> <br /> The total number of satoshis in existence is limited to 2.15 x 10&lt;sup&gt;15&lt;/sup&gt; and issued at a mathematically defined rate written into the Bitcoin source code. The [[Miner subsidy|miner subsidy]] is scheduled to divide in 2 every 210,000 blocks, approximately every 4 years. At the time of the 6th halvening (approximately 2032) the miner subsidy will fall below 1 BSV to 78125000 Satoshis (0.78125 BSV).<br /> <br /> By the time of the 31st halvening (approximately the year 2136) the miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2077 2020-02-17T11:59:14Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==Satoshis and the Miner Subsidy Schedule==<br /> <br /> The total number of satoshis in existence is limited to 2.15 x {10}&lt;sup&gt;15&lt;/sup&gt; and issued at a mathematically defined rate written into the Bitcoin source code. The [[Miner subsidy|miner subsidy]] is scheduled to divide in 2 every 210,000 blocks, approximately every 4 years. At the time of the 6th halvening (approximately 2032) the miner subsidy will fall below 1 BSV to 78125000 Satoshis (0.78125 BSV).<br /> <br /> By the time of the 31st halvening (approximately the year 2136) the miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2075 2020-02-17T11:57:45Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==Satoshis and the Miner Subsidy Schedule==<br /> <br /> The total number of satoshis in existence is limited to \$2.15\times{10}^15\$ and issued at a mathematically defined rate written into the Bitcoin source code. The [[Miner subsidy|miner subsidy]] is scheduled to divide in 2 every 210,000 blocks, approximately every 4 years. At the time of the 6th halvening (approximately 2032) the miner subsidy will fall below 1 BSV to 78125000 Satoshis (0.78125 BSV).<br /> <br /> By the time of the 31st halvening (approximately the year 2136) the miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2074 2020-02-17T11:57:29Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==Satoshis and the Miner Subsidy Schedule==<br /> <br /> The total number of satoshis in existence is limited to $2.15\times{10}^15$ and issued at a mathematically defined rate written into the Bitcoin source code. The [[Miner subsidy|miner subsidy]] is scheduled to divide in 2 every 210,000 blocks, approximately every 4 years. At the time of the 6th halvening (approximately 2032) the miner subsidy will fall below 1 BSV to 78125000 Satoshis (0.78125 BSV).<br /> <br /> By the time of the 31st halvening (approximately the year 2136) the miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2073 2020-02-17T11:51:49Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==Satoshis and the Miner Subsidy Schedule==<br /> <br /> The [[Miner subsidy|miner subsidy]] is scheduled to divide in 2 every 210,000 blocks (approx. every 4 years). At the time of the 6th halvening (approximately 2032) the miner subsidy will fall below 1 BSV to 78125000 Satoshis (0.78125 BSV).<br /> <br /> By the time of the 31st halvening (approximately the year 2136) the miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2072 2020-02-17T11:51:14Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==Satoshis and the Miner Subsidy Schedule==<br /> <br /> The [[Miner subsidy|miner subsidy]] is scheduled to divide in 2 every 210,000 blocks (approx. every 4 years). At the time of the 6th halvening (approximately 2032) the miner subsidy will fall below 1 BSV to 78125000 Satoshis (0.78125 BSV).<br /> <br /> By the time of the 31st halvening (approximately 2136) the miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2064 2020-02-17T11:40:58Z

<p>AlexMackay: </p> <hr /> <div><br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2063 2020-02-17T11:39:38Z

<p>AlexMackay: </p> <hr /> <div>[[File:Satoshi (unit).png|right|thumb| What is Satoshi? How many Satoshi in a Bitcoin?]]<br /> <br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> <br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> * [[Miner subsidy]]<br /> <br /> ==References==<br /> * [1] https://www.bestchange.ru stock calculator</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2062 2020-02-17T11:36:44Z

<p>AlexMackay: </p> <hr /> <div>[[File:Satoshi (unit).png|right|thumb| What is Satoshi? How many Satoshi in a Bitcoin?]]<br /> <br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> {{#ev:youtube|U5M9_vM_MsU|500|right|What is a Satoshi}}<br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, in the world of Satoshi cryptocurrency is the same as in the real world a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BSV<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BSV.'''<br /> <br /> When considering the decision on the limit of the [[digital currency]] issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or fiat money - [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.<br /> <br /> ==See Also==<br /> * [[Coinbase]]<br /> <br /> ==References==</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2061 2020-02-17T11:35:04Z

<p>AlexMackay: </p> <hr /> <div>[[File:Satoshi (unit).png|right|thumb| What is Satoshi? How many Satoshi in a Bitcoin?]]<br /> <br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.<br /> <br /> ==How many Satoshis in a Bitcoin==<br /> {{#ev:youtube|U5M9_vM_MsU|500|right|What is a Satoshi}}<br /> What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, in the world of Satoshi cryptocurrency is the same as in the real world a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]]. <br /> <br /> The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:<br /> {| class=&quot;wikitable&quot;<br /> |-<br /> ! Satoshi !! BTC<br /> |-<br /> | 1 || 0.00000001<br /> |-<br /> | 10 || 0.0000001<br /> |-<br /> | 100 || 0.000001<br /> |-<br /> | 1 000 || 0.00001<br /> |-<br /> | 10 000 || 0.0001<br /> |-<br /> | 100 000 || 0.001<br /> |-<br /> | 1 000 000 || 0.01<br /> |-<br /> | 10 000 000 || 0.1<br /> |-<br /> | 100 000 000 || 1<br /> |}<br /> Thus, '''1 Satoshi = 0.00000001 BTC.'''<br /> <br /> When considering the decision on the limit of the [[digital currency]] issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.<br /> <br /> In the end, this coin was called &quot;Satoshi&quot;. There are many calculators for converting various currencies into other cryptocurrencies or [[fiat money]] - [https://www.bestchange.ru stock calculator]<br /> <br /> All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a [[faucet]], the amount is displayed in satoshi for readability.<br /> <br /> ==See Also==<br /> <br /> ==References==</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2060 2020-02-17T11:34:04Z

<p>AlexMackay: </p> <hr /> <div>[[File:Satoshi (unit).png|right|thumb| What is Satoshi? How many Satoshi in a Bitcoin?]]<br /> <br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=File:Satoshi_(unit).png&diff=2059 2020-02-17T11:32:43Z

<p>AlexMackay: </p> <hr /> <div></div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2058 2020-02-17T11:32:26Z

<p>AlexMackay: </p> <hr /> <div>[[File:Satoshi (unit).png|right|450px|What is Satoshi? How many Satoshi in a Bitcoin?]]<br /> <br /> <br /> A '''Satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2057 2020-02-17T11:31:15Z

<p>AlexMackay: </p> <hr /> <div>[[File:Satoshi (unit).png|right|450px|What is Satoshi? How many Satoshi in a Bitcoin?]]<br /> <br /> '''Satoshi''' is a structural part of the [[Bitcoin Satoshi Vision| Bitcoin]] cryptocurrency, which is one hundred millionth of bitcoin. Such small units facilitate transactions with BTC. The total structural component of 1 bitcoin (BTC) is equivalent to 1000 millibits (mBTC), 1,000,000 microbe (mkBTC) or 100,000,000 Satoshi. The exact data is unknown, but it is assumed that Nakamoto can have 1 million BTC, and it is equivalent to 100 000 000 000 Satoshis.<br /> <br /> A Satoshi is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Satoshis&diff=2056 2020-02-17T11:30:02Z

<p>AlexMackay: </p> <hr /> <div>{{#seo:<br /> |title=Satoshi (unit) - BitcoinWiki<br /> |description=What is a Satoshi? 1 satoshi is a one hundred millionth of a single bitcoin (0.00000001 BTC). The unit has been named in collective homage to the original creator of Bitcoin, Satoshi Nakamoto<br /> }}<br /> &lt;amp/&gt;<br /> [[File:Satoshi (unit).png|right|450px|What is Satoshi? How many Satoshi in a Bitcoin?]]<br /> '''Satoshi''' is a structural part of the [[Bitcoin]] [[cryptocurrency]], which is one hundred millionth of bitcoin. Such small units facilitate transactions with BTC. The total structural component of 1 bitcoin (BTC) is equivalent to 1000 millibits (mBTC), 1,000,000 microbe (mkBTC) or 100,000,000 Satoshi. The exact data is unknown, but it is assumed that Nakamoto can have 1 million BTC, and it is equivalent to 100 000 000 000 Satoshis.<br /> <br /> A Satoshi is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the pseudonymous author of the 2008 Bitcoin whitepaper.<br /> <br /> Satoshis are represented as integers where 1 satoshi is the smallest unit of the Bitcoin cryptocurrency. <br /> <br /> A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Transaction_Pools&diff=2055 2020-02-17T11:26:51Z

<p>AlexMackay: </p> <hr /> <div>A ''transaction pool'' or ''mempool'' is a data structure containing the set of transactions that are unconfirmed but have been validated by a miner. Transactions are stored in a node's mempool prior to inclusion in a block.<br /> <br /> ==Transaction Pools in Bitcoin SV==<br /> <br /> A bitcoin [[Mining| node]] stores bitcoin transactions that have been validated but not mined. It can be thought of as a staging area for transactions prior to their inclusion in a [[block chain|block]]. When creating a new block to mine, miners will gather transactions from their transaction pool using the rpc command ''getminingcandidate'' or the older ''getblocktemplate'' to construct a candidate block. Similarly, when receiving a block, a validator can speed-up the validation process if the [[TXID|transactions IDs]] match the transaction IDs in the validator's transaction pool. The transaction pool data is used extensively by block explorers, wallet servers and other Bitcoin SV related web services [https://jochen-hoenicke.de/queue/#3,24h].<br /> <br /> ==Secondary Transaction Pools and Genesis==<br /> <br /> The [[Genesis upgrade| Genesis]] upgrade to Bitcoin SV introduced a taxonomy within the transaction pool aimed at improving efficiency for transaction validators and miners.<br /> <br /> * '''Primary Transaction Pool''' - transaction pool containing transactions that pay above the miner configured ''minimum tx fee''<br /> <br /> * '''Secondary Transaction Pool''' - transaction pool for transactions that are below the miner configured ''minimum tx fee'' limit but above the network-wide ''minimum relay fee'' limit. These transactions are likely to eventually be included in another miner's block and therefore should be stored to ensure fast [[Mining| block validation]] and optimize network performance.<br /> <br /> A further discussion of configurable minimum fee policy can be found here [https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/].<br /> <br /> ==See Also==<br /> <br /> * [[Confirmation]]<br /> <br /> ==References==<br /> <br /> * [1] https://jochen-hoenicke.de/queue/#3,24h<br /> * [2] https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Transaction_Pools&diff=2054 2020-02-17T11:25:02Z

<p>AlexMackay: </p> <hr /> <div>A ''transaction pool'' or ''mempool'' is a set of transactions that are unconfirmed but validated prior to inclusion in a block.<br /> <br /> ==Transaction Pools in Bitcoin SV==<br /> <br /> A bitcoin [[Mining| node]] stores bitcoin transactions that have been validated but not mined. It can be thought of as a staging area for transactions prior to their inclusion in a [[block chain|block]]. When creating a new block to mine, miners will gather transactions from their transaction pool using the rpc command ''getminingcandidate'' or the older ''getblocktemplate'' to construct a candidate block. Similarly, when receiving a block, a validator can speed-up the validation process if the [[TXID|transactions IDs]] match the transaction IDs in the validator's transaction pool. The transaction pool data is used extensively by block explorers, wallet servers and other Bitcoin SV related web services [https://jochen-hoenicke.de/queue/#3,24h].<br /> <br /> ==Secondary Transaction Pools and Genesis==<br /> <br /> The [[Genesis upgrade| Genesis]] upgrade to Bitcoin SV introduced a taxonomy within the transaction pool aimed at improving efficiency for transaction validators and miners.<br /> <br /> * '''Primary Transaction Pool''' - transaction pool containing transactions that pay above the miner configured ''minimum tx fee''<br /> <br /> * '''Secondary Transaction Pool''' - transaction pool for transactions that are below the miner configured ''minimum tx fee'' limit but above the network-wide ''minimum relay fee'' limit. These transactions are likely to eventually be included in another miner's block and therefore should be stored to ensure fast [[Mining| block validation]] and optimize network performance.<br /> <br /> A further discussion of configurable minimum fee policy can be found here [https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/].<br /> <br /> ==See Also==<br /> <br /> * [[Confirmation]]<br /> <br /> ==References==<br /> <br /> * [1] https://jochen-hoenicke.de/queue/#3,24h<br /> * [2] https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Transaction_Pools&diff=2053 2020-02-17T11:24:51Z

<p>AlexMackay: </p> <hr /> <div>A ''transaction pool'' or ''mempool'' is a set of transactions that are unconfirmed but validated prior to inclusion in a block.<br /> <br /> ==Transaction Pools in Bitcoin SV==<br /> <br /> A bitcoin [[Mining| node]] stores bitcoin transactions that have been validated but not mined. It can be thought of as a staging area for transactions prior to their inclusion in a [[block chain|block]]. When creating a new block to mine, miners will gather transactions from their transaction pool using the rpc command ''getminingcandidate'' or the older ''getblocktemplate'' to construct a candidate block. Similarly, when receiving a block, a validator can speed-up the validation process if the [[TXID|transactions IDs]] match the transaction IDs in the validator's transaction pool. The transaction pool data is used extensively by block explorers, wallet servers and other Bitcoin SV related web services [https://jochen-hoenicke.de/queue/#3,24h].<br /> <br /> ==Secondary Transaction Pools and Genesis==<br /> <br /> The [[Genesis upgrade| Genesis]] upgrade to Bitcoin SV introduced a taxonomy within the transaction pool aimed at improving efficiency for transaction validators and miners.<br /> <br /> * - '''Primary Transaction Pool''' - transaction pool containing transactions that pay above the miner configured ''minimum tx fee''<br /> <br /> * - '''Secondary Transaction Pool''' - transaction pool for transactions that are below the miner configured ''minimum tx fee'' limit but above the network-wide ''minimum relay fee'' limit. These transactions are likely to eventually be included in another miner's block and therefore should be stored to ensure fast [[Mining| block validation]] and optimize network performance.<br /> <br /> A further discussion of configurable minimum fee policy can be found here [https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/].<br /> <br /> ==See Also==<br /> <br /> * [[Confirmation]]<br /> <br /> ==References==<br /> <br /> * [1] https://jochen-hoenicke.de/queue/#3,24h<br /> * [2] https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Transaction_Pools&diff=2052 2020-02-17T11:19:54Z

<p>AlexMackay: </p> <hr /> <div>A ''transaction pool'' or ''mempool'' is a set of transactions that are unconfirmed but validated prior to inclusion in a block.<br /> <br /> ==Transaction Pools in Bitcoin SV==<br /> <br /> A bitcoin [[Mining| node]] stores bitcoin transactions that have been validated but not mined. It can be thought of as a staging area for transactions prior to their inclusion in a [[block chain|block]]. When creating a new block to mine, miners will gather transactions from their transaction pool using the rpc command ''getminingcandidate'' or the older ''getblocktemplate'' to construct a candidate block. Similarly, when receiving a block, a validator can speed-up the validation process if the [[TXID|transactions IDs]] match the transaction IDs in the validator's transaction pool. The transaction pool data is used extensively by block explorers, wallet servers and other Bitcoin SV related web services [https://jochen-hoenicke.de/queue/#3,24h].<br /> <br /> ==Secondary Transaction Pools and Genesis==<br /> <br /> The [[Genesis upgrade| Genesis]] upgrade to Bitcoin SV will introduce taxonomy within the transaction pool aimed at improving efficiency for transaction validators and miners.<br /> <br /> * - '''Primary Transaction Pool''' - transaction pool containing transactions that pay above the miner configured ''minimum tx fee''<br /> <br /> * - '''Secondary Transaction Pool''' - transaction pool for transactions that are below the miner configured ''minimum tx fee'' limit but above the network-wide ''minimum relay fee'' limit. These transactions are likely to eventually be included in another miner's block and therefore should be stored to ensure fast [[Mining| block validation]] and optimize network performance.<br /> <br /> A further discussion of configurable minimum fee policy can be found here [https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/].<br /> <br /> ==See Also==<br /> <br /> * [[Confirmation]]<br /> <br /> ==References==<br /> <br /> * [1] https://jochen-hoenicke.de/queue/#3,24h<br /> * [2] https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Transaction_Pools&diff=2051 2020-02-17T11:19:35Z

<p>AlexMackay: </p> <hr /> <div>A ''transaction pool'' or ''mempool'' is a set of transactions that are unconfirmed but validated prior to inclusion in a block.<br /> <br /> ==Transaction Pools in Bitcoin SV==<br /> <br /> A bitcoin [[Mining| node]] stores bitcoin transactions that have been validated but not mined. It can be thought of as a staging area for transactions prior to their inclusion in a [[block chain|block]]. When creating a new block to mine, miners will gather transactions from their transaction pool using the rpc command ''getminingcandidate'' or the older ''getblocktemplate'' to construct a candidate block. Similarly, when receiving a block, a validator can speed-up the validation process if the [[TXID|transactions IDs]] match the transaction IDs in the validator's transaction pool. The transaction pool data is used extensively by block explorers, wallet servers and other Bitcoin SV related web services [https://jochen-hoenicke.de/queue/#3,24h].<br /> <br /> ==Secondary Transaction Pools and Genesis==<br /> <br /> The [[Genesis upgrade| Genesis]] upgrade to Bitcoin SV will introduce taxonomy within the transaction pool aimed at improving efficiency for transaction validators and miners.<br /> <br /> * - '''Primary Transaction Pool''' - transaction pool containing transactions that pay above the miner configured ''minimum tx fee''<br /> <br /> * - '''Secondary Transaction Pool''' - transaction pool for transactions that are below the miner configured ''minimum tx fee'' limit but above the network-wide ''minimum relay fee'' limit. These transactions are likely to eventually be included in another miner's block and therefore should be stored to ensure fast [[Mining| block validation]] and optimize network performance.<br /> <br /> A further discussion of configurable minimum fee policy can be found here [https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/].<br /> <br /> ==See Also==<br /> <br /> * [[Confirmation]]<br /> <br /> ==References==<br /> <br /> * [1] https://jochen-hoenicke.de/queue/#3,24h<br /> * [2] https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Transaction_Pools&diff=2050 2020-02-17T11:18:57Z

<p>AlexMackay: </p> <hr /> <div>A ''transaction pool'' or ''mempool'' is a set of transactions that are unconfirmed but validated prior to inclusion in a block.<br /> <br /> ==Transaction Pools in Bitcoin SV==<br /> <br /> A bitcoin [[Mining| node]] stores bitcoin transactions that have been validated but not mined. It can be thought of as a staging area for transactions prior to their inclusion in a [[block chain|block]]. When creating a new block to mine, miners will gather transactions from their transaction pool using the rpc command ''getminingcandidate'' or the older ''getblocktemplate'' to construct a candidate block. Similarly, when receiving a block, a validator can speed-up the validation process if the [[TXID|transactions IDs]] match the transaction IDs in the validator's transaction pool. The transaction pool data is used extensively by block explorers, wallet servers and other Bitcoin SV related web services [https://jochen-hoenicke.de/queue/#3,24h].<br /> <br /> ==Secondary Transaction Pools and Genesis==<br /> <br /> The [[Genesis upgrade| Genesis]] upgrade to Bitcoin SV will introduce taxonomy within the transaction pool aimed at improving efficiency for transaction validators and miners.<br /> <br /> * - '''Primary Transaction Pool''' - transaction pool containing transactions that pay above the miner configured ''minimum tx fee''<br /> <br /> * - '''Secondary Transaction Pool''' - transaction pool for transactions that are below the miner configured ''minimum tx fee'' limit but above the network-wide ''minimum relay fee'' limit. These transactions are likely to eventually be included in another miner's block and therefore should be stored to ensure fast [[Mining| block validation]] and optimize network performance.<br /> <br /> A further discussion of configurable minimum fee policy can be found here [https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/].<br /> <br /> ==See Also==<br /> <br /> * [[Confirmation]]<br /> <br /> ==References==<br /> <br /> * [1] https://jochen-hoenicke.de/queue/#3,24h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Transaction_Pools&diff=2049 2020-02-17T11:18:33Z

<p>AlexMackay: </p> <hr /> <div>A ''transaction pool'' or ''mempool'' is a set of transactions that are unconfirmed but validated prior to inclusion in a block.<br /> <br /> ==Transaction Pools in Bitcoin SV==<br /> <br /> A bitcoin [[Mining| node]] stores bitcoin transactions that have been validated but not mined. It can be thought of as a staging area for transactions prior to their inclusion in a [[block chain|block]]. When creating a new block to mine, miners will gather transactions from their transaction pool using the rpc command ''getminingcandidate'' or the older ''getblocktemplate'' to construct a candidate block. Similarly, when receiving a block, a validator can speed-up the validation process if the [[TXID|transactions IDs]] match the transaction IDs in the validator's transaction pool. The transaction pool data is used extensively by block explorers, wallet servers and other Bitcoin SV related web services [https://jochen-hoenicke.de/queue/#3,24h].<br /> <br /> ==Secondary Transaction Pools and Genesis==<br /> <br /> The [[Genesis upgrade| Genesis]] upgrade to Bitcoin SV will introduce taxonomy within the transaction pool aimed at improving efficiency for transaction validators and miners.<br /> <br /> '''Primary Transaction Pool''' - transaction pool containing transactions that pay above the miner configured ''minimum tx fee''<br /> <br /> '''Secondary Transaction Pool''' - transaction pool for transactions that are below the miner configured ''minimum tx fee'' limit but above the network-wide ''minimum relay fee'' limit. These transactions are likely to eventually be included in another miner's block and therefore should be stored to ensure fast [[Mining| block validation]] and optimize network performance.<br /> <br /> A further discussion of configurable minimum fee policy can be found here [https://bitcoinsv.io/2019/11/24/on-the-future-of-bitcoin-transaction-fees/].<br /> <br /> ==See Also==<br /> <br /> * [[Confirmation]]<br /> <br /> ==References==<br /> <br /> * [1] https://jochen-hoenicke.de/queue/#3,24h</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Private_Keys&diff=1983 2020-02-16T19:49:13Z

<p>AlexMackay: </p> <hr /> <div>A '''private key''' is a secret number that can used to transfer of bitcoins, encrypt data and more. Each private key corresponds to a public key which is a coordinate on the [[Secp256k1|Bitcoin Elliptic Curve]].<br /> <br /> Every Bitcoin wallet contains one or more private keys, which are typically generated from a root key, and which are saved in the wallet file. Having knowledge of a private key allows any coins that can be unlocked with that key to be spent, so it is important that these are kept secret and safe.<br /> <br /> Private keys themselves are almost never handled by the user, instead the user will typically be given a [[seed phrase]] from which their wallet's root key can be derived.<br /> <br /> ==Range of valid ECDSA private keys==<br /> Nearly every 256-bit integer is a valid [[Elliptic Curve Digital Signature Algorithm|ECDSA]] private key. Specifically, any 256-bit number from 0x1 to 0xFFFF FFFF FFFF FFFF FFFF FFFF FFFF FFFE BAAE DCE6 AF48 A03B BFD2 5E8C D036 4140 is a valid private key.<br /> <br /> The range of valid private keys is governed by the [[Secp256k1|secp256k1]] ECDSA standard used by Bitcoin.<br /> <br /> ==Hierarchical Deterministic (HD) Wallet Keys==<br /> <br /> Wallet software may use a [https://github.com/bitcoin/bips/tree/master/bip-0032 mnemonic seed] to generate many private keys and corresponding public keys from a single secret value. This is called a ''hierarchical deterministic wallet'', or ''HD wallet'' for short. The seed value, or ''master extended key'', consists of a 256-bit private key and a 256-bit ''chain code'', for 512 bits in total. The seed value should not be confused with the private keys used directly to sign Bitcoin transactions.<br /> <br /> Users are strongly advised to use HD wallets, for safety reasons: An HD wallet only needs to be backed up once typically using a [[Seed phrase|seed phrase]]; thereafter in the future, that single backup can always deterministically regenerate the same private keys. Therefore, it can safely recover all addresses, and all funds sent to those addresses. Non-HD wallets generate a new randomly-selected private key for each new address; therefore, if the wallet file is lost or damaged, the user will irretrievably lose all funds received to addresses generated after the most recent backup.<br /> <br /> ==Base58 Wallet Import format==<br /> When importing or sweeping ECDSA private keys, a shorter format known as [[Wallet import format]] is often used, which offers a few advantages.<br /> The wallet import format is shorter, and includes built-in error checking codes so that typos can be automatically detected and/or corrected (which is impossible in hex format) and type bits indicating how it is intended to be used. Wallet import format is the most common way to represent private keys in Bitcoin.<br /> <br /> For private keys associated with uncompressed public keys, they are 51 characters and always start with the number 5 on mainnet (9 on testnet). Private keys associated with compressed public keys are 52 characters and start with a capital L or K on mainnet (c on testnet). This is the same private key in (mainnet) wallet import format:<br /> <br /> <br /> 5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF<br /> <br /> <br /> When a WIF private key is imported, it always corresponds to exactly one Bitcoin address.<br /> Any utility which performs the conversion can display the matching Bitcoin address.<br /> The mathematical conversion is somewhat complex and best left to a computer, but it's notable that the WIF guarantees it will always correspond to the same address no matter which program is used to convert it.<br /> <br /> The Bitcoin address implemented using the sample above is: 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj<br /> <br /> ==Summary==<br /> Any Bitcoins sent to the address 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj can be spent by anybody who knows the private key implementing it in ''any'' of the three formats, regardless of when the bitcoins were sent, unless the wallet receiving them has since made use of the coins generated.<br /> The private key is only needed to spend the bitcoins, not necessarily to see the value of them.<br /> <br /> If a private key controlling unspent bitcoins is compromised or stolen, the value can be protected if it is immediately spent to a different output which is secure.<br /> Because bitcoins in an unspent transaction output can only be spent once, when they are spent using a private key, the private key becomes worthless.<br /> It is often possible, but inadvisable and insecure, to use the address implemented by the private key more than once, in which case the same private key would be [[Address reuse|reused]].<br /> <br /> ==See Also==<br /> <br /> * [[Paper wallet]]</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Private_Keys&diff=1982 2020-02-16T19:47:42Z

<p>AlexMackay: </p> <hr /> <div>A '''private key''' is a secret number that can used to transfer of bitcoins, encrypt data and more. In Bitcoin each private key corresponds to a public key which is a coordinate on the [[Secp256k1|Bitcoin Elliptic Curve]].<br /> <br /> Every Bitcoin wallet contains one or more private keys, which are typically generated from a root key, and which are saved in the wallet file. Having knowledge of a private key allows any coins that can be unlocked with that key to be spent, so it is important that these are kept secret and safe.<br /> <br /> Private keys themselves are almost never handled by the user, instead the user will typically be given a [[seed phrase]] from which their wallet's root key can be derived.<br /> <br /> ==Range of valid ECDSA private keys==<br /> Nearly every 256-bit integer is a valid [[Elliptic Curve Digital Signature Algorithm|ECDSA]] private key. Specifically, any 256-bit number from 0x1 to 0xFFFF FFFF FFFF FFFF FFFF FFFF FFFF FFFE BAAE DCE6 AF48 A03B BFD2 5E8C D036 4140 is a valid private key.<br /> <br /> The range of valid private keys is governed by the [[Secp256k1|secp256k1]] ECDSA standard used by Bitcoin.<br /> <br /> ==Hierarchical Deterministic (HD) Wallet Keys==<br /> <br /> Wallet software may use a [https://github.com/bitcoin/bips/tree/master/bip-0032 mnemonic seed] to generate many private keys and corresponding public keys from a single secret value. This is called a ''hierarchical deterministic wallet'', or ''HD wallet'' for short. The seed value, or ''master extended key'', consists of a 256-bit private key and a 256-bit ''chain code'', for 512 bits in total. The seed value should not be confused with the private keys used directly to sign Bitcoin transactions.<br /> <br /> Users are strongly advised to use HD wallets, for safety reasons: An HD wallet only needs to be backed up once typically using a [[Seed phrase|seed phrase]]; thereafter in the future, that single backup can always deterministically regenerate the same private keys. Therefore, it can safely recover all addresses, and all funds sent to those addresses. Non-HD wallets generate a new randomly-selected private key for each new address; therefore, if the wallet file is lost or damaged, the user will irretrievably lose all funds received to addresses generated after the most recent backup.<br /> <br /> ==Base58 Wallet Import format==<br /> When importing or sweeping ECDSA private keys, a shorter format known as [[Wallet import format]] is often used, which offers a few advantages.<br /> The wallet import format is shorter, and includes built-in error checking codes so that typos can be automatically detected and/or corrected (which is impossible in hex format) and type bits indicating how it is intended to be used. Wallet import format is the most common way to represent private keys in Bitcoin.<br /> <br /> For private keys associated with uncompressed public keys, they are 51 characters and always start with the number 5 on mainnet (9 on testnet). Private keys associated with compressed public keys are 52 characters and start with a capital L or K on mainnet (c on testnet). This is the same private key in (mainnet) wallet import format:<br /> <br /> <br /> 5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF<br /> <br /> <br /> When a WIF private key is imported, it always corresponds to exactly one Bitcoin address.<br /> Any utility which performs the conversion can display the matching Bitcoin address.<br /> The mathematical conversion is somewhat complex and best left to a computer, but it's notable that the WIF guarantees it will always correspond to the same address no matter which program is used to convert it.<br /> <br /> The Bitcoin address implemented using the sample above is: 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj<br /> <br /> ==Summary==<br /> Any Bitcoins sent to the address 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj can be spent by anybody who knows the private key implementing it in ''any'' of the three formats, regardless of when the bitcoins were sent, unless the wallet receiving them has since made use of the coins generated.<br /> The private key is only needed to spend the bitcoins, not necessarily to see the value of them.<br /> <br /> If a private key controlling unspent bitcoins is compromised or stolen, the value can be protected if it is immediately spent to a different output which is secure.<br /> Because bitcoins in an unspent transaction output can only be spent once, when they are spent using a private key, the private key becomes worthless.<br /> It is often possible, but inadvisable and insecure, to use the address implemented by the private key more than once, in which case the same private key would be [[Address reuse|reused]].<br /> <br /> ==See Also==<br /> <br /> * [[Paper wallet]]</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Private_Keys&diff=1979 2020-02-16T19:39:46Z

<p>AlexMackay: </p> <hr /> <div>A '''private key''' is a secret number that can used to transfer of Bitcoins, encrypt data and more. Each private key corresponds to a public key which is coordinate on the [[Secp256k1|Bitcoin Elliptic Curve]].<br /> <br /> Every Bitcoin wallet contains one or more private keys, which are typically deterministically generated from a root key, and which are saved in the wallet file. Having knowledge of a private key allows any coins that can be unlocked with that key to be spent, so it is important that these are kept secret and safe.<br /> <br /> Private keys themselves are almost never handled by the user, instead the user will typically be given a [[seed phrase]] from which their wallet's root key can be derived.<br /> <br /> ==Range of valid ECDSA private keys==<br /> Nearly every 256-bit number is a valid [[Elliptic Curve Digital Signature Algorithm|ECDSA]] private key. Specifically, any 256-bit number from 0x1 to 0xFFFF FFFF FFFF FFFF FFFF FFFF FFFF FFFE BAAE DCE6 AF48 A03B BFD2 5E8C D036 4140 is a valid private key.<br /> <br /> The range of valid private keys is governed by the [[Secp256k1|secp256k1]] ECDSA standard used by Bitcoin.<br /> <br /> ==Hierarchical Deterministic (HD) Wallet Keys==<br /> <br /> Wallet software may use a [https://github.com/bitcoin/bips/tree/master/bip-0032 mnemonic seed] to generate many private keys and corresponding public keys from a single secret value. This is called a ''hierarchical deterministic wallet'', or ''HD wallet'' for short. The seed value, or ''master extended key'', consists of a 256-bit private key and a 256-bit ''chain code'', for 512 bits in total. The seed value should not be confused with the private keys used directly to sign Bitcoin transactions.<br /> <br /> Users are strongly advised to use HD wallets, for safety reasons: An HD wallet only needs to be backed up once typically using a [[Seed phrase|seed phrase]]; thereafter in the future, that single backup can always deterministically regenerate the same private keys. Therefore, it can safely recover all addresses, and all funds sent to those addresses. Non-HD wallets generate a new randomly-selected private key for each new address; therefore, if the wallet file is lost or damaged, the user will irretrievably lose all funds received to addresses generated after the most recent backup.<br /> <br /> ==Base58 Wallet Import format==<br /> When importing or sweeping ECDSA private keys, a shorter format known as [[Wallet import format]] is often used, which offers a few advantages.<br /> The wallet import format is shorter, and includes built-in error checking codes so that typos can be automatically detected and/or corrected (which is impossible in hex format) and type bits indicating how it is intended to be used. Wallet import format is the most common way to represent private keys in Bitcoin.<br /> <br /> For private keys associated with uncompressed public keys, they are 51 characters and always start with the number 5 on mainnet (9 on testnet). Private keys associated with compressed public keys are 52 characters and start with a capital L or K on mainnet (c on testnet). This is the same private key in (mainnet) wallet import format:<br /> <br /> <br /> 5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF<br /> <br /> <br /> When a WIF private key is imported, it always corresponds to exactly one Bitcoin address.<br /> Any utility which performs the conversion can display the matching Bitcoin address.<br /> The mathematical conversion is somewhat complex and best left to a computer, but it's notable that the WIF guarantees it will always correspond to the same address no matter which program is used to convert it.<br /> <br /> The Bitcoin address implemented using the sample above is: 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj<br /> <br /> ==Summary==<br /> Any Bitcoins sent to the address 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj can be spent by anybody who knows the private key implementing it in ''any'' of the three formats, regardless of when the bitcoins were sent, unless the wallet receiving them has since made use of the coins generated.<br /> The private key is only needed to spend the bitcoins, not necessarily to see the value of them.<br /> <br /> If a private key controlling unspent bitcoins is compromised or stolen, the value can be protected if it is immediately spent to a different output which is secure.<br /> Because bitcoins in an unspent transaction output can only be spent once, when they are spent using a private key, the private key becomes worthless.<br /> It is often possible, but inadvisable and insecure, to use the address implemented by the private key more than once, in which case the same private key would be [[Address reuse|reused]].<br /> <br /> ==See Also==<br /> <br /> * [[Paper wallet]]</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Private_Keys&diff=1978 2020-02-16T19:39:29Z

<p>AlexMackay: </p> <hr /> <div>A '''private key''' is a secret number that can used to transfer of Bitcoins, encrypt data and more. Each private key corresponds to a public key which is coordinate on the [[Secp256k1|Bitcoin Elliptic Curve]].<br /> <br /> Every Bitcoin wallet contains one or more private keys, which are typically deterministically generated from a root key, and which are saved in the wallet file. Having knowledge of a private key allows any coins that can be unlocked with that key to be spent, so it is important that these are kept secret and safe.<br /> <br /> Private keys themselves are almost never handled by the user, instead the user will typically be given a [[seed phrase]] from which their wallet's root key can be derived.<br /> <br /> ==Range of valid ECDSA private keys==<br /> Nearly every 256-bit number is a valid [[Elliptic Curve Digital Signature Algorithm|ECDSA]] private key. Specifically, any 256-bit number from 0x1 to 0xFFFF FFFF FFFF FFFF FFFF FFFF FFFF FFFE BAAE DCE6 AF48 A03B BFD2 5E8C D036 4140 is a valid private key.<br /> <br /> The range of valid private keys is governed by the [[Secp256k1|secp256k1]] ECDSA standard used by Bitcoin.<br /> <br /> ==Hierarchical Deterministic (HD) Wallet Keys==<br /> <br /> Wallet software may use a [https://github.com/bitcoin/bips/tree/master/bip-0032 mnemonic seed] to generate many private keys and corresponding public keys from a single secret value. This is called a ''hierarchical deterministic wallet'', or ''HD wallet'' for short. The seed value, or ''master extended key'', consists of a 256-bit private key and a 256-bit ''chain code'', for 512 bits in total. The seed value should not be confused with the private keys used directly to sign Bitcoin transactions.<br /> <br /> Users are strongly advised to use HD wallets, for safety reasons: An HD wallet only needs to be backed up once typically using a [[Seed phrase|seed phrase]]; thereafter in the future, that single backup can always deterministically regenerate the same private keys. Therefore, it can safely recover all addresses, and all funds sent to those addresses. Non-HD wallets generate a new randomly-selected private key for each new address; therefore, if the wallet file is lost or damaged, the user will irretrievably lose all funds received to addresses generated after the most recent backup.<br /> <br /> ==Base58 Wallet Import format==<br /> When importing or sweeping ECDSA private keys, a shorter format known as [[Wallet import format]] is often used, which offers a few advantages.<br /> The wallet import format is shorter, and includes built-in error checking codes so that typos can be automatically detected and/or corrected (which is impossible in hex format) and type bits indicating how it is intended to be used. Wallet import format is the most common way to represent private keys in Bitcoin.<br /> <br /> For private keys associated with uncompressed public keys, they are 51 characters and always start with the number 5 on mainnet (9 on testnet). Private keys associated with compressed public keys are 52 characters and start with a capital L or K on mainnet (c on testnet). This is the same private key in (mainnet) wallet import format:<br /> <br /> 5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF<br /> <br /> <br /> When a WIF private key is imported, it always corresponds to exactly one Bitcoin address.<br /> Any utility which performs the conversion can display the matching Bitcoin address.<br /> The mathematical conversion is somewhat complex and best left to a computer, but it's notable that the WIF guarantees it will always correspond to the same address no matter which program is used to convert it.<br /> <br /> The Bitcoin address implemented using the sample above is: 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj<br /> <br /> ==Summary==<br /> Any Bitcoins sent to the address 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj can be spent by anybody who knows the private key implementing it in ''any'' of the three formats, regardless of when the bitcoins were sent, unless the wallet receiving them has since made use of the coins generated.<br /> The private key is only needed to spend the bitcoins, not necessarily to see the value of them.<br /> <br /> If a private key controlling unspent bitcoins is compromised or stolen, the value can be protected if it is immediately spent to a different output which is secure.<br /> Because bitcoins in an unspent transaction output can only be spent once, when they are spent using a private key, the private key becomes worthless.<br /> It is often possible, but inadvisable and insecure, to use the address implemented by the private key more than once, in which case the same private key would be [[Address reuse|reused]].<br /> <br /> ==See Also==<br /> <br /> * [[Paper wallet]]</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Private_Keys&diff=1977 2020-02-16T19:37:59Z

<p>AlexMackay: </p> <hr /> <div>A '''private key''' is a secret number that can used to transfer of Bitcoins, encrypt data and more. Each private key corresponds to a public key which is coordinate on the [[Secp256k1|Bitcoin Elliptic Curve]].<br /> <br /> Every Bitcoin wallet contains one or more private keys, which are typically deterministically generated from a root key, and which are saved in the wallet file. Having knowledge of a private key allows any coins that can be unlocked with that key to be spent, so it is important that these are kept secret and safe.<br /> <br /> Private keys themselves are almost never handled by the user, instead the user will typically be given a [[seed phrase]] from which their wallet's root key can be derived.<br /> <br /> ==Range of valid ECDSA private keys==<br /> Nearly every 256-bit number is a valid [[Elliptic Curve Digital Signature Algorithm|ECDSA]] private key. Specifically, any 256-bit number from 0x1 to 0xFFFF FFFF FFFF FFFF FFFF FFFF FFFF FFFE BAAE DCE6 AF48 A03B BFD2 5E8C D036 4140 is a valid private key.<br /> <br /> The range of valid private keys is governed by the [[Secp256k1|secp256k1]] ECDSA standard used by Bitcoin.<br /> <br /> ==Hierarchical Deterministic (HD) Wallet Keys==<br /> <br /> Wallet software may use a [https://github.com/bitcoin/bips/tree/master/bip-0032 mnemonic seed] to generate many private keys and corresponding public keys from a single secret value. This is called a ''hierarchical deterministic wallet'', or ''HD wallet'' for short. The seed value, or ''master extended key'', consists of a 256-bit private key and a 256-bit ''chain code'', for 512 bits in total. The seed value should not be confused with the private keys used directly to sign Bitcoin transactions.<br /> <br /> Users are strongly advised to use HD wallets, for safety reasons: An HD wallet only needs to be backed up once typically using a [[Seed phrase|seed phrase]]; thereafter in the future, that single backup can always deterministically regenerate the same private keys. Therefore, it can safely recover all addresses, and all funds sent to those addresses. Non-HD wallets generate a new randomly-selected private key for each new address; therefore, if the wallet file is lost or damaged, the user will irretrievably lose all funds received to addresses generated after the most recent backup.<br /> <br /> ==Base58 Wallet Import format==<br /> When importing or sweeping ECDSA private keys, a shorter format known as [[Wallet import format]] is often used, which offers a few advantages.<br /> The wallet import format is shorter, and includes built-in error checking codes so that typos can be automatically detected and/or corrected (which is impossible in hex format) and type bits indicating how it is intended to be used.<br /> Wallet import format is the most common way to represent private keys in Bitcoin.<br /> For private keys associated with uncompressed public keys, they are 51 characters and always start with the number 5 on mainnet (9 on testnet). Private keys associated with compressed public keys are 52 characters and start with a capital L or K on mainnet (c on testnet). This is the same private key in (mainnet) wallet import format:<br /> <br /> 5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF<br /> <br /> When a WIF private key is imported, it always corresponds to exactly one [[Address|Bitcoin address]].<br /> Any utility which performs the conversion can display the matching Bitcoin address.<br /> The mathematical conversion is somewhat complex and best left to a computer, but it's notable that the WIF guarantees it will always correspond to the same address no matter which program is used to convert it.<br /> <br /> The Bitcoin address implemented using the sample above is: 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj<br /> <br /> ==Summary==<br /> Any Bitcoins sent to the address 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj can be spent by anybody who knows the private key implementing it in ''any'' of the three formats, regardless of when the bitcoins were sent, unless the wallet receiving them has since made use of the coins generated.<br /> The private key is only needed to spend the bitcoins, not necessarily to see the value of them.<br /> <br /> If a private key controlling unspent bitcoins is compromised or stolen, the value can be protected if it is immediately spent to a different output which is secure.<br /> Because bitcoins in an unspent transaction output can only be spent once, when they are spent using a private key, the private key becomes worthless.<br /> It is often possible, but inadvisable and insecure, to use the address implemented by the private key more than once, in which case the same private key would be [[Address reuse|reused]].<br /> <br /> ==See Also==<br /> <br /> * [[Paper wallet]]</div>

AlexMackay https://wiki.bitcoinsv.io/index.php?title=Private_Keys&diff=1975 2020-02-16T19:35:14Z

<p>AlexMackay: </p> <hr /> <div>A '''private key''' is a secret number that can used to transfer of Bitcoins, encrypt data and more. Each private key corresponds to a public key which is coordinate on the [[Secp256k1|Bitcoin Elliptic Curve]].<br /> <br /> Every Bitcoin wallet contains one or more private keys, which are typically deterministically generated from a root key, and which are saved in the wallet file. Having knowledge of a private key allows any coins that can be unlocked with that key to be spent, so it is important that these are kept secret and safe.<br /> Private keys themselves are almost never handled by the user, instead the user will typically be given a [[seed phrase]] from which their wallet's root key can be derived.<br /> <br /> ==Range of valid ECDSA private keys==<br /> Nearly every 256-bit number is a valid [[Elliptic Curve Digital Signature Algorithm|ECDSA]] private key. Specifically, any 256-bit number from 0x1 to 0xFFFF FFFF FFFF FFFF FFFF FFFF FFFF FFFE BAAE DCE6 AF48 A03B BFD2 5E8C D036 4140 is a valid private key.<br /> <br /> The range of valid private keys is governed by the [[secp256k1]] ECDSA standard used by Bitcoin.<br /> <br /> ==Hierarchical Deterministic (HD) Wallet Keys==<br /> <br /> Wallet software may use a [https://github.com/bitcoin/bips/tree/master/bip-0032 mnemonic seed] to generate many private keys and corresponding public keys from a single secret value. This is called a ''hierarchical deterministic wallet'', or ''HD wallet'' for short. The seed value, or ''master extended key'', consists of a 256-bit private key and a 256-bit ''chain code'', for 512 bits in total. The seed value should not be confused with the private keys used directly to sign Bitcoin transactions.<br /> <br /> Users are strongly advised to use HD wallets, for safety reasons: An HD wallet only needs to be backed up once typically using a [[seed phrase]]; thereafter in the future, that single backup can always deterministically regenerate the same private keys. Therefore, it can safely recover all addresses, and all funds sent to those addresses. Non-HD wallets generate a new randomly-selected private key for each new address; therefore, if the wallet file is lost or damaged, the user will irretrievably lose all funds received to addresses generated after the most recent backup.<br /> <br /> ==Base58 Wallet Import format==<br /> When importing or sweeping ECDSA private keys, a shorter format known as [[Wallet import format]] is often used, which offers a few advantages.<br /> The wallet import format is shorter, and includes built-in error checking codes so that typos can be automatically detected and/or corrected (which is impossible in hex format) and type bits indicating how it is intended to be used.<br /> Wallet import format is the most common way to represent private keys in Bitcoin.<br /> For private keys associated with uncompressed public keys, they are 51 characters and always start with the number 5 on mainnet (9 on testnet). Private keys associated with compressed public keys are 52 characters and start with a capital L or K on mainnet (c on testnet). This is the same private key in (mainnet) wallet import format:<br /> <br /> 5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF<br /> <br /> When a WIF private key is imported, it always corresponds to exactly one [[Address|Bitcoin address]].<br /> Any utility which performs the conversion can display the matching Bitcoin address.<br /> The mathematical conversion is somewhat complex and best left to a computer, but it's notable that the WIF guarantees it will always correspond to the same address no matter which program is used to convert it.<br /> <br /> The Bitcoin address implemented using the sample above is: 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj<br /> <br /> ==Summary==<br /> Any Bitcoins sent to the address 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj can be spent by anybody who knows the private key implementing it in ''any'' of the three formats, regardless of when the bitcoins were sent, unless the wallet receiving them has since made use of the coins generated.<br /> The private key is only needed to spend the bitcoins, not necessarily to see the value of them.<br /> <br /> If a private key controlling unspent bitcoins is compromised or stolen, the value can be protected if it is immediately spent to a different output which is secure.<br /> Because bitcoins in an unspent transaction output can only be spent once, when they are spent using a private key, the private key becomes worthless.<br /> It is often possible, but inadvisable and insecure, to use the address implemented by the private key more than once, in which case the same private key would be [[Address reuse|reused]].<br /> <br /> ==See Also==<br /> <br /> * [[Paper wallet]]</div>

AlexMackay