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Crypto - News


Crypto - News | Security - News

03 / 2018
Vybrali pro vás: TR - Tomáš Rosa, JP - Jaroslav Pinkava, PV - Pavel Vondruška, VK - Vlastimil Klíma

A deep dive into blockchain and Bitcoin

In (In)secure Magazine Issue 27, March 2018.

Blockchain technology promises to solve many complex problems across different business sectors and industries, and Bitcoin is breaking value records seemingly every hour. But many don’t understand how the two really work, and use the two words interchangeably as if they were synonymous.
One important thing to remember is that blockchain can exist without Bitcoin, but Bitcoin cannot exist without a blockchain.
Bitcoin is a digital currency that was created in 2009. Only 21 million Bitcoins can ever be created (mined), and it is estimated that the last coin will be produced in 2140.
It is exchanged on a decentralized, peer-to-peer network, meaning that there is no central server or authority (i.e., a central bank) that regulates it. In the beginning, the Bitcoin network was operated by volunteers who had a full Bitcoin protocol stack installed on their private computers. However, the network’s operation has mostly been taken over by specialized data centers.
Bitcoin operates on a cryptographic protocol, is fully transparent and open source. As it’s not backed by a real authority, the health of the system depends entirely on the trust people have in it. The value of Bitcoin is determined by the amount people are willing to pay for it.
Zdroj: https://www.helpnetsecurity.com/dl/insecure/INSECURE-Mag-57.pdf
Autor: JP

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