01.[SPECILIZED KNOWLEDGE] What is blockchain technology?

Blockchain technology combines several existing technologies, including asymmetric cryptography, timestamp, and consensus, etc. Asymmetric cryptography, also known as public-key cryptography, is a process that uses a pair of related keys (one public key and one private key) to encrypt and decrypt a message and protect it from unauthorized access or use. A public key can [...]

03.[SPECILIZED KNOWLEDGE] What are Bitcoin nodes?

Bitcoin is a peer-to-peer, or node-to-node electronic cash system. Every Bitcoin wallet acts as a node. Among them, full nodes store the entire ledger. As of October 2017, the Bitcoin network has around 9300 full nodes running, responsible for broadcasting and validating transactions. When a transaction is initiated, all nodes will relay the information to [...]

05.[SPECILIZED KNOWLEDGE] How do we categorize Blockchains?

There are three main categories of blockchain: public chain, permissioned blockchain and the consortium-led Blockchain. Other categories of blockchain may emerge in the future with the rapid development of technology. Public Chains are open and transparent. Any individual or institution can initiate a transaction through a Public Chain from anywhere in the world, which is [...]

08.[SPECILIZED KNOWLEDGE] What is a Hash Algorithm?

A hashing algorithm is a cryptographic hash function that deals with encryption but not decryption. It is a mathematical algorithm that maps data of arbitrary size to a bit string of a fixed size. Hashing algorithms are used notably in the IT field, such as digital signatures, message authentication codes (MACs), and other forms of [...]

09.[SPECILIZED KNOWLEDGE] What is scalability?

Satoshi Nakamoto did not intentionally limit the block size when he first created Bitcoin. At that time, the block size is around 1 to 2 KB on average. Some people thought that an excessive block size is a waste of computing resources and is susceptible to distributed denial of service attack (DDOS attack). Therefore, Satoshi [...]