A Dissection of Bitcoin by Paul Huang

By Paul Huang

Bitcoin is the 1st electronic forex in human background that doesn't require a important clearing authority. The technological implication of this invention is profound: it opens the potential for construction a totally allotted economy the place no centralized experts are had to behavior monetary transactions.

This booklet is the final word solution to the customarily requested, yet even-more-often unsatisfactorily responded query: HOW DOES BITCOIN WORK?

This is the 1st e-book that dissects the unique Bitcoin resource code written by way of Satoshi Nakamoto. It opens the Bitcoin black-box, examines all its components, and indicates you all of the info you ever want to know concerning the Bitcoin system.

The entire booklet has 10 chapters. This model you're approximately to buy comprises the 1st four chapters.

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A BA needs to handle four major tasks: Construct a transaction. The primary function of a BA is to send bitcoins to someone. To do so, you need to first create a "transaction", which is just a fancier word for a record that records who paid how many bitcoins to whom. Let’s say you want to pay 5 bitcoins to Bob. What you need to do is to first start a BA on you computer, then input Bob’s id and the amount you want to send to him. Click a button, your BA will create a transaction for you. Communicate with other BAs.

To send bitcoins to someone, you need to know the recipient’s Bitcoin address. This chapter first examines how to generate such an address. Then it analyzes the code that constructs a new transaction. 1. Bitcoin address In Chapter Introduction, a BA was compiled from the Bitcoin source code. Now start that BA, select menu "Options" → "Change Your Address", then click the "New Address" button, a dilog-box will pop up. cpp. Here is the source code of this function. h to generate a string representation strAddress of the newly generated public key (line 9) Add strName and strAddress as a pair to m_llistCtrl, which contains all the Bitcoin addresses you own, and will be shown on the GUI (line 12).

This ensures the security of the data it stores. The source code of this allocator is not shown in here. h for the implementation. nReadPos is the starting position in vch to read data from. state is an error flag. It is set to a value to indicate some errors occur during the serialization/de-serialization process. exceptmask is an error mask. It is initialized to ios::badbit | ios::failbit. Together with state, it is used to find out what kinds of errors happened. nType takes a value of SER_NETWORK, SER_DISK, SER_GETHASH, SER_SKIPSIG, SER_BLOCKHEADERONLY, which informs CDataStream the kind of serialization to carry out.

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