Posted by Jeff Flowers / 02 May 2015 / Bitcoin/Blockchain / Hits: 19420

One of the earliest reasons to originally stir my interests in Bitcoin, was the notion of an immutable database or the Block Chain. A single source of shared truth, distributed and available to all to see; secured within a protocol really got my mind spinning. And although there are many novel methods being developed to fully harness the power and potential of Bitcoin, one cannot fully live and work within the Block Chain. The shear number of data structures and services that we depend upon in order to make up our Internet today simply cannot fit, presently.

Then I saw IPFS – and it made total sense.

Data, or content, cannot be lost. Content is parsed out on the network in a distributed fashion, as the Internet was originally envisioned and meant to be.

I suspect if you are reading this blog, you too see the value in this incredible protocol: IPFS. So why a Raspberry Pi (RPi)?

Posted by Jeff Flowers & Yvonne Tang / 13 April 2015 / Bitcoin/Blockchain / Hits: 22866

Example 1. Pay-to-Public-Key-Hash (P2PKH) - One-to-one Transaction

The majority of Bitcoin transactions today are of this general type. These types of transactions are used to transfer value, typically from one user to another. They are constructed having the form: scriptSig (or the unlocking script) first, followed by the scriptPubKey (or locking script).

This example transfers the complete value from one Unspent Transaction Output (UTXO) into one address.

Note: For simplification purposes, this example does not take into account a miner’s fee, and would most likely take additional time to be incorporated into the block chain. However, we are using the testnet where mining fees are not as strict.

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