Hash Time-Locked Contracts (HTLCs) are used in atomic swaps, allowing parties to exchange assets across different blockchains without trusting each other directly. Understanding HTLC Atomic Swaps with Bob and Alice Hash Time-Locked Contracts (HTLCs) are smart contracts used in atomic swaps, enabling two parties—let’s call them Bob and Alice—to exchange assets across different blockchains without […]
Proof of Work (PoW) is a consensus mechanism in blockchain technology. It requires participants, called miners, to solve complex mathematical puzzles to validate transactions and create new blocks. The first miner to solve the puzzle broadcasts the solution, and others verify it. PoW ensures security and decentralization.
I demo ECDSA public/private keys with digital signatures using Streamlit… The private key gets generated, and stays private. The public key is given to the person who want’s to verify the message. Using the public key plus the signed message they can be sure that the only the owner of the matching private key signed […]
Bitcoin Script is a powerful and unique scripting language at the heart of the Bitcoin blockchain, defining the rules governing transaction execution. Designed by Satoshi Nakamoto, it enables users to create complex, programmable transactions, unlocking a realm of possibilities beyond simple peer-to-peer transfers. Let’s look at the basics of how it works… Successful Basic Script […]
Partially Signed Bitcoin Transactions (PSBTs) are a standardized way of representing a Bitcoin transaction and its signatures, allowing different parties to collaborate in creating a transaction without sharing private keys. PSBTs are often used in multi-signature setups or with hardware wallets. In this article we’ll discover more about how Bitcoin Script can be created with […]
Taproot” is an upgrade to the Bitcoin network that aims to enhance privacy, improve scripting flexibility, and optimize the use of resources. Let me break it down into simpler terms: In summary, Taproot is like an upgrade for Bitcoin that makes transactions more private, scripting more flexible, and resource usage more efficient. It’s a step […]
Here we continue trying out BDK and learning to use it with Rust : By the end of this article our code will do the following : During testing I had this “Dust” error, so let’s just cover that first… BDK – Error: OutputBelowDustLimit(0) When testing on Testnet you may come across errors with the […]
This hex representation corresponds to the locking script (scriptPubKey) in a Pay-to-Witness-Public-Key-Hash (P2WPKH) output. When a Bitcoin transaction creates an output with this script, it essentially “locks” the funds to the specified conditions. Let’s dissect an example, the following is a hexadecimal representation of a P2WPKH script: Breaking it down: Now, let’s explain each part: […]
