Summary
This chapter started with an introduction to Bitcoin and explained how a transaction works from the user’s point of view. Then, an introduction to transactions from a technical point of view was presented. After this, the public and private keys used in Bitcoin were discussed. In the next section, we introduced addresses and their different types, followed by a discussion on transactions and their types and usage.
Following this, we looked at blockchain, with a detailed explanation of how blockchain works and the various components included in the Bitcoin blockchain. Next, mining processes and relevant concepts such as hardware systems, their limitations, and bitcoin rewards were introduced, along with an introduction to the Bitcoin network, followed by a discussion on Bitcoin node discovery and block synchronization protocols. Finally, we examined different types of Bitcoin wallets and discussed the various attributes and features of each type.
In the next...