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Learning Bitcoin

Learning Bitcoin

By : Caetano
3 (3)
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Learning Bitcoin

Learning Bitcoin

3 (3)
By: Caetano

Overview of this book

The financial crisis of 2008 raised attention to the need for transparency and accountability in the financial world. As banks and governments were scrambling to stay solvent while seeking a sustainable plan, a powerfully new and resilient technology emerged. Bitcoin, built on a fundamentally new technology called “The Blockchain,” offered the promise of a new financial system where transactions are sent directly between two parties without the need for central control. Bitcoin exists as an open and transparent financial system without banks, governments, or corporate support. Simply put, Bitcoin is “programmable money” that has the potential to change the world on the same scale as the Internet itself. This book arms you with immense knowledge of Bitcoin and helps you implement the technology in your money matters, enabling secure transactions. We first walk through the fundamentals of Bitcoin, illustrate how the technology works, and exemplify how to interact with this powerful and new financial technology. You will learn how to set up your online Bitcoin wallet, indulge in buying and selling of bitcoins, and manage their storage. We then get to grips with the most powerful algorithm of all times: the Blockchain, and learn how crypto-currencies can reduce the risk of fraud for e-commerce merchants and consumers. With a solid base of Blockchain, you will write and execute your own custom transactions. Most importantly, you will be able to protect and secure your Bitcoin with the help of effective solutions provided in the book. Packed with plenty of screenshots, Learning Bitcoin is a simple and painless guide to working with Bitcoin.
Table of Contents (10 chapters)
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9
Index

Namecoin


Recognized as the first true alt-coin based on a fork of the Bitcoin source code, Namecoin is an alt-coin that implements extensions in its blockchain to allow the recording of public name information for various applications. The first of these applications was a substitute for the Internet's domain name system (DNS).

Decentralized domain name service

The DNS is similar to a large phone book. When you type google.com into your Web browser, a request is made to the DNS servers asking to resolve the name to an IP address. The IP addresses are used to route information between two computers on the Internet, similar to the way the telephone system connects two phone numbers together.

With the original DNS system, the centralized authorities had established issue names, such as google.com or wikipedia.org, to organizations. Once purchased, the organization could modify the list of servers that their domain names resolved to.

There are some controversial issues with relying on central authorities...

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Learning Bitcoin
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