Bitcoin

The Bitcoin Mempool is a critical component of Bitcoin's core functionality. Mempool is simply a shortened version of the phrase "Memory Pool." This protocol is the first place that any new transactions are noted on Bitcoin's blockchain. In essence, it's a holding pen for all pending transactions before they are presented to miners. Notably, every node maintains a Mempool. Mempool allows Bitcoin's network to keep track of and manage all of its transactions in an organized and democratic manner. Remember,…

The CoinJoin protocol enables a trustless bundling of Bitcoin transactions. This technique aims to provide users with an extra layer of privacy. Notably, CoinJoin transactions are not impossible to decipher using current statistical analysis tools and correlation techniques, but they are far more expensive and difficult to track. Many years ago, most Bitcoin users believed that the network provided anonymity. For example, you don't register your name when you open a Bitcoin wallet, but there are still digital footprints that could…

The introduction of Bitcoin in 2009 marked the start of a new financial era with a decentralized financial control structure that eliminates third parties in financial transactions. However, Bitcoin is more than just a digital currency; it's a revolutionary technology that has helped shape the modern economy.  Bitcoin also helped popularize blockchain technology, which has gained widespread use cases in various sectors, including supply chain services, the Internet of Things (IoT), and reputation systems with the launch of blockchain-based applications. …

Bitcoin development is a constant ongoing process. Bitcoin's use cases continually evolve to meet the market's needs and technological advancements. Most people are surprised to learn that Bitcoin consistently receives technical upgrades. Yes, today's Bitcoin is far more advanced than its first rendition.  Learning how to support Bitcoin's development is a great way to do your part and help bring this game-changing tech to the mainstream. Luckily, there are many ways to support Bitcoin's development, regardless of your technical prowess.…

Out of the existing 22000+ cryptocurrencies, Bitcoin is the dominant coin in the market. The peer-to-peer digital currency was the first crypto coin introduced in 2008 and has grown to be the most profitable virtual currency today.  Despite the rush to invest and earn some Bitcoin (BTC), most users still don't understand bitcoin basics. Perhaps users may not find it important as they are on board for profits, but with fewer insights, chances are you might make the wrong decisions…

Bitcoin was first introduced in the financial world in 2009 by Satoshi Nakamoto. Over the years, the platform has been growing and advancing into mainstream adoption, attracting millions of daily users and transactions. It has hit a market capitalization of 337  billion US dollars at the time of writing. Many business moguls, celebrities, and movers and shakers of the global economy have contributed positively to making bitcoin great. Some use their institutions to invest in bitcoin or implant bitcoin as their…

If you have been in the crypto market for an extended period, you undoubtedly stumbled upon the phrase "Bitcoin maximalist." This group of die-hard Bitcoiners is unwavering in their support for the world's first cryptocurrency. From message boards to social media, the crypto space is full of Bitcoin maximalists.  What is a Bitcoin Maximalist? Bitcoin maximalism is an ideology that centers on creating an open and free global monetary system based on Bitcoin. Maximalists envision a day when fiat currencies…

Coinbase managed to help its clients save 75.2% in transaction fees and reduce their daily transaction count by 95% by batching Bitcoin transactions. Transaction batching combines multiple transactions into one rather than creating a new transaction for every request. As a result, it dramatically reduces the costs of transacting bitcoin and the overall Bitcoin network load, allowing it to fit more in a smaller space. Currently, many popular Bitcoin exchanges use this scaling technique of payment batching. In addition, many wallets…

Donating Bitcoin or any other cryptocurrency to charity is a noble endeavor and a win-win situation for both parties. On the one hand, those in need get potentially critical support, and you, the donor, benefit from a tax deduction on capital gains. However, if you feel crypto generous, you should understand how Bitcoin donations work. If you fail to do your due diligence, you might lose the full tax advantage you receive from cryptocurrency donations. Today, we take a close…