Blockchain Basics & Cryptography

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Bitcoin – Technical Features

  • Cryptographic Hash Function
  • Timestamped Append-only Logs (Blocks)
  • Block Header & Merkle Tree
  • Asymmetric Cryptography & Digital Signatures
  • Addresses
  • Consensus through Proof of Work
  • Network of Nodes
  • Native Currency

20M bitcoins max (2024 max limit reached)

3 important key points

  • Cryptography
  • Consensus mechanism
  • Transactions