This is the first time to use Blockchain and send my bitcoin into it. But i was sent into private key wallet address and store it. Next day, when i was login my wallet and say wrong password . So i was restarted my password and login private keys . I don’t found my btc. I saw that they sent my btc to another address. Why it that?
I invented a consensus algorithm. My work on this was mostly ideologically motivated and I did it alone; more importantly, I don’t know anyone in blockchain/cryptocurrency/computer science fields. Obviously nobody is interested in my work, because it’s not validated by anyone and I’m nobody myself.
But I believe the technology to be groundbreaking both in terms of blockchain industry and in terms of potential social impact it could have.
How this work can get proper exposure? Where, to whom, and how should I present it so that someone would notice its existence and understand it?
In case someone is curious, here’s the actual work: https://www.theintercon.org/assets/intercon_documentation.pdf
I’m trying to get a grip of truely understanding consensus algorithms and at the moment im trying to “figure out” PoS – the fundamental concept and process are clear but some few, maybe minor, things i just dont get 😀
So my questions are the following:
How exactly does PoS on a technical level work? Like what is actually validated in the block?
So far i got the Point that all Blocks are mined and get validated by a pseudo random choosen Node (staker – who staked x of something). But how can i visualzie it myself as i would in PoW with a continouesly grown chain?
Maybe along side with that question goes the next, How do new Transaction become a part of the block? in PoW the Block is mined with transaktions out of the Memory Pool, how does this work in PoS when all Blocks are already there?
Furhtermore how are the blocks build on a technical level? similar to PoW blocks? like how does the actual architecture look like?
and (for now) lastly How does the whole scalability aspect work with PoS?
since one Node is choosen to validate a block, does the rest of the network wait for that node to complete? Or can blocks be validated parallel to other blocks? is there only one validater in the Network? or can there be more?
It would be awesome if someone of you could help a noob 😀
Maybe someone is up for a bit longer Take via DMs – because the same question might be coming for othere algorithms 😀
Edit: Sources to read or visual representations would be great; also please get as technical as possible, the deeper the better 🙂
Best Regards and have a great weekend
Hi I have a blockchain wallet and my wallet ID is saved but I lost my password, therefore,strong text I can’t access my wallet to carry out any transaction can somebody help me.
How do Blockchain Explorers lookup wallet balances? Im trying to make my own explorer. For example Bitcoin-cli does not have a method (function) to lookup a wallets balance.
listtransactions does not show balance.
Anyone with some know-how, can you link me anything? Im talking about Bitcoin but if you know how for other currencies, let me know please
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I found a few answers to this question here, here, and here, but my doubts weren’t cleared.
Are trades done on exchanges added to blocks? Or are they only added once you withdraw the funds to your own wallet? If this is the case, how does the exchange decide on transaction fees?
Based on the above posts the answer to the first question seems to be “no”. Most exchanges seem to work off-block. Now, is it possible that as a buyer one may be buying bitcoins that don’t actually exist? How is this controlled?
If I misunderstood and all transactions made on exchanges are confirmed into a block, who sets the fees?
Any good articles or pieces out there to learn about the work behind the scenes of exchanges? I can’t seem to find anything that addresses this.
I do understand that every block is validated in terms of the blocks before it by way of the previous block’s hash, all the way back to the genesis block. However, could the protocol be modified such that the blockchain is a sliding window over the most recent N number of blocks? How likely is it that some block from 1 year ago later turns out to be invalid?
Does Bitcoin plan to implement any Fraud/Loss Prevention in their protocol? I just read a story of how Brokerage Exchange Shapeshift, and Internal Employee stealing private keys from their customers. https://news.bitcoin.com/looting-fox-sabotage-shapeshift/
Also heard about Bitfinex and Binance having similar issues.
Maybe allowing nodes to create new/recover Bitcoins that were stolen? And expiring tokens from the thief?
Restricting consumption of any bitcoins with a certain publickeys/IP address?
When using credit card, I had thousands of dollars charged. My credit card company said not worry, and reverted the charges.
I can see SEC or FDIC having something similar come to Crypto, and hopefully bitcoin community can address issues in their next protocol. Otherwise, government regulators may interfere.
Given Bitcoin takes 45 min per Transaction, and consumes lot of energy (around 1 million Visa transactions), https://digiconomist.net/bitcoin-energy-consumption/
This is more of a history question,
Did Bitcoin founders (Satoshi Nakamoto) know that Bitcoin would not be Scaleable?
Did they only create a Base Layer on purpose, and expect other people to create second derivative layers like Lightning Network?
Currently Bitcoin is not economic, without the key Lightning network, and certain provinces in China and other countries are attempting to shut down nodes. Lightning network has taken 10 years to release, since Bitcoin creation, and environmental politicians are starting to complain about power consumption. Just wondering if the founders, had foresight about this, and if they noted future goals for Bitcoin to work. I did not see it in their whitepaper. https://bitcoin.org/bitcoin.pdf