Questions tagged [theory]

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4
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0answers
39 views

Can we measure bitcoin's accumulated work in terms of entropy (in bits) directly rather than expected number of hashes?

The Background Bitcoin tracks chain work by counting the (expected) minimum number of hashes it would take to create a chain of the same number of blocks and same difficulty steps[1]. Naturally, ...
5
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0answers
62 views

Are there any “slow” sidechains? What are the tradeoffs?

Are there any examples of sidechains which target a block time much longer than bitcoin? Could a sidechain be made "slow enough" such that the size of a proof (SPV proof?) for it could actually fit ...
6
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1answer
415 views

Will Schnorr Multi-signatures completely replace ECDSA?

I stumbled upon the fact that schnorr signatures will most probably replace the current ECDSA system in a future BIP. Is it worth learning about ECDSA or this will become obsolete/useless/confusing ...
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2answers
42 views

How Bitcoin wallets and it's transfer process work?

I am very new on cryptocurrencies, and like to understand it's transfer process. I think if I want to buy Bitcoin, I must download a Bitcoin wallet, then find a person who has Bitcoin. Then he/she ...
1
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2answers
379 views

Is verification of a blockchain computationally cheaper than recreating it?

One of the advantages of cryptocurrencies like Bitcoin that is often repeated is how hard it should be to manipulate past transactions. The reason that is often stated is that you would have to re-...
3
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1answer
67 views

ECDSA - why not using the cyclic additive group

As I understand things so far, the ECDSA scheme used by Bitcoin uses a group G generated by a point on the elliptic curve y^2 = x^2 + 7. Now G is a cyclic group of finite order n and is, hence, ...
2
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1answer
31 views

Why is the Schnorr verification formula working and actually verifying the validity of a signature?

Reading the bottom of page 2 of the Musig Paper we can find that a Schnorr Signature for a cyclic Group G of prime order p with generator g is a tuple (R,s) where R = gr for a random secret r and s=...
2
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1answer
75 views

Why is a cyclic subgroup chosen in ECDSA?

One thing which I am wondering for a long time and to which I did not find an answer after doing a web search and hope to find an answer here. When we construct the elliptic curve over a prime field ...
1
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1answer
37 views

How do non-deterministic wallets violate the principle of address reuse?

In chapter 5 of Mastering Bitcoin, Andreas writes: "The disadvantage of random keys is that if you generate many of them you must keep copies of all of them, meaning that the wallet must be backed up ...
0
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1answer
45 views

What are the relations between these number theorems and ECC?

I'm currently working on a bigger assignment where I have to write about the connection between bitcoin/blockchain and maths. I've gotten far, but one of my tasks is to talk about principal rest, ...
1
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3answers
270 views

Game Theory in Blockchain?

The blockchain consensus seems to be very related to the Game Theory, when each participant tries to achieve their "favorites", where defining "what favorites means" is not very easy, since a ...
0
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1answer
227 views

How do you get Sibling Hashed Values in a Merkle Proof?

Merkle Proofs are one of the main reasons that people attribute Bitcoin's use of Merkle Trees. But I'm struggling to understand how these work in practice. Please explain theoretically as well as ...
4
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2answers
190 views

Does a Block contain the list of transactions? Or only the Merkle Tree?

I was wondering how a block encodes its set of transactions. I know a Merkle Tree is generated, and that it encodes a Hashed version of the transactions. But is the Merkle Tree included in the Block ...
0
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1answer
35 views

terminology and conceptual question about progress of PoW

what is wrong about thinking prbobability of attacker increases with time t that goes into PoW since they have more time to secretly mine their alternate blockchain ? This refer to double ...
0
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1answer
28 views

how is the current hashing power (of the entire network) measured (in real time)?

1) does hash power refers to mining nodes only ? 2) we don't know how many nodes there are on the bitcoin network , correct ? how do we count them ? 3) would we need to know [2] in order to figure ...
0
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2answers
57 views

Value of cryptocurrencies: Why does noone make Bitcoin2, 3, 4,…?

Cryptocurrency disciplee sometimes say that cryptocurrencies have just as much inherent value and potential as storage of value as fist currencies. One argument specific to the Bitcoin is that its ...
3
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0answers
132 views

Why does transaction d5d27987d2a3dfc724e359870c6644b40e497bdc0589a033220fe15429d88599 included in two different blocks? [duplicate]

I'm not sure i get it right and i thoughts, in theory, it's not possible. But i stumbled with that transaction d5d27987d2a3dfc724e359870c6644b40e497bdc0589a033220fe15429d88599 and indeed, https://...
2
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1answer
116 views

What are the costs of cryptocurrency fraud?

I have heard many claims that transaction volumes can be "faked" for cryptocurrencies, but I am skeptical about how this is possible. I want someone to walk me through the math describing what you ...
2
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4answers
191 views

What is the advantage of a market-specific cryptocurrency?

Reading this article, http://nakamotoinstitute.org/mempool/the-coming-demise-of-altcoins/, I wonder why there would be a separate coin for each market, like a coin just for buying bananas, marijuana, ...
0
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2answers
84 views

Why proof of work rather than posting to a public forum?

I understand that proof-of-work plus a block chain is one way of creating a trustworthy public ledger of transactions. But holy hell, the cost to society in terms of energy consumption is VERY high ...
4
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4answers
1k views

Why search for a nonce linearly (+1) vs searching only even or odd nonces?

As a solo miner, you have the disadvantage of a minuscule hash rate compared to mining pools. Is it not possible to searching for only even nonces? Of course you risk the chance of missing the nonce, ...
0
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1answer
429 views

How Blockchain ensures transactions are not lost?

I have a doubt about how the Blockchain system avoids transactions to be lost. Let me use an easy example: Let's say there are only 2 mining pools (A and B), which are both trying to find a hash ...
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3answers
58 views

Bitcoin Transaction Protocol Question (maybe specific to Coursera Bitcoin Lecture)

In the Coursera course "Bitcoin and Cryptocurrency Technologies" course, a coin called ScroogeCoin was introduced. This coin is similar to bitcoin in that each transaction consists of a set of ...
2
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2answers
2k views

Why bitcoin is not inflationary? [duplicate]

I understand that a lot of people today stack Bitcoin instead of spending them and that makes sense because there is a limited number of bitcoins. However, I think that for bitcoin to be a real ...
1
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1answer
48 views

What does it mean for a transaction to be over spent?

IIRC, a transaction's inputs add up to its outputs plus the transaction fee. So how would a concept like "over spending" fit in? I saw this in a Bitcoin library I'm maintaning and didn't find this ...
1
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1answer
61 views

Is the asymptotic performance of bitcoin O(n) relative to the block chain length?

If I want the latest information (ie. account balance) of account A do I have to traverse the entire block chain to get that info or is the relevant information store in the latest block or some other ...
1
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1answer
117 views

Why will a miner verify the digital signature, instead of directly adding a transaction to the Merkle tree?

I am a complete noob to Bitcoin, and this question might seem obvious to some. But I can't seem to get my head around it. I read how the process of mining works - they select transactions, verify them,...
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0answers
40 views

Relationship between concentration of bitcoin wealth and foreign exchange value?

Is there a relationship between the equality of wealth of bitcoin holders, and it's foreign exchange value? E.g. if there is a large transfer of bitcoin to a single owner, should this influence its ...
4
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1answer
212 views

Theoretical minimum # of logic operations to perform double iterated SHA256?

What is the theoretical minimum number of logical operations an ASIC needs to perform to compute double iterated SHA256, i.e., sha(sha(•))?
-1
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2answers
158 views

Bitcoin (and other crypto-coins) nonce loop

I recently started to pay attention to what's going on at crypto-markets and, being developer for a long time, decided to take a look at the software we have out there in public access. So I have a ...
0
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1answer
1k views

Bitcoin Game Theory Analysis

I'm looking to analyse bitcoin for a (rather introductory, low-level) game theory course. Game theory concepts I'd like to explore with regard to bitcoin: strategic games with ordinal preferences and ...
1
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1answer
101 views

Is Bitcoin still an experiment? [closed]

Definition of the word Experiment: A scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact. If Bitcoin was/is an experiment, I don't think it's ...
1
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1answer
183 views

Given the current hashing powers, what do pools actually do in practice?

Given the current hashing powers, what do pools actually do in practice to find a block? Ok, so here is my thinking, please correct me if I'm wrong anywhere: Here's the format of the block header, ...
3
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2answers
451 views

Altcoin confirmations and safety - wait ~6 confirmations, or ~1 hour?

The general consensus in the Bitcoin network is to wait for 6 confirmations or 1 hour on a transaction before it can be considered completely irreversible. However, when it comes to altcoins that use ...
2
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1answer
148 views

Is it possible to spend outputs with very small amounts?

I'm a Bitcoin newbie and this is rather theoretical question based on this discussion's accepted answer: transaction creation failed So does it essentially mean that in case if my wallet is ...
0
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1answer
519 views

What parameters are used to calculate the challenge string during bitcoin mining (blockchain creation)?

How is the challenge string computed mathematically? What's preventing some node on the bitcoin network from broadcasting a challenge + proof to other nodes as it's own when it received it from some ...
3
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2answers
220 views

How can the blockchain survive without an army or other kind of law enforcement?

I'm sold on most of the Bitcoin aspects. I believe that the blockchain has incredible potential value and how the fact that it's decentralized removes a lot of the corruption and cronyism that are ...
4
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3answers
2k views

What happen if there's no one mining bitcoin?

I read that miner are in a way contributed to the transaction progress of bitcoin. So, that means if there's no one mining anymore, the bitcoin can no longer be transacted?
3
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2answers
114 views

Debts denominated in bitcoins

I was reading an ebook, called Bitcoins: what they are and how to use them, the book says ... it would be a fools bet to take a promise to pay a debt in Bitcoins, as they will by definition, ...
9
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1answer
2k views

What complexity class is Bitcoin's proof-of-work (hashcash) in?

To formulate this question precisely, I will define an idealized hypothetical "perfect" hash function H(n) which has nice scalability properties, and will formulate a problem PERFECT HASHCASH in terms ...
4
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1answer
615 views

Has the Timestamp Server from the original whitepaper ever been developed?

In the original whitepaper Satoshi proposes a creation of a timestamp server to authenticate that Bitcoin blocks were not created later than at a given time. Has this feature been ever implemented or ...
0
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1answer
143 views

What happens when a coin is split?

The original Bitcoin paper states: We define an electronic coin as a chain of digital signatures. What happens when a coin is subdivided and transferred to multiple owners? Does each coin fragment ...
3
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0answers
66 views

Can there be Bitcoin-like network that also works as whatever@home? [duplicate]

There are Bitcoin-like network that performs calculations that are not locally useful, but interesting for peers. There are {SETI,folding,...}@home networks that calculates something that is (...
9
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3answers
2k views

Is there a ripple whitepaper?

I'm interested in doing some research on the ripple system. Is there a whitepaper which explains the underlying fundamentals and how they are realised? I know about the Wiki, but that is not citeable ...
11
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5answers
3k views

What would happen if you send bitcoins to a non-existent Bitcoin address?

If one were to send bitcoins to an address that has not been created yet, what would happen? Would the coins be lost forever? Would they just sit there until the address and key pair are generated?
4
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1answer
293 views

Why does it take a different time to generate a different pattern of the same length in vanitygen?

I've been looking at generating some vanity addresses today, and I found it surprising that the program generating the address predicts that it will take a different amount of tries to compute a ...
3
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1answer
160 views

What is the “Bitcoin stick”?

I've encountered the page on "Bitcoin stick" while browsing the Research wiki page. The information provided on the subject is quite small. Can anyone explain what it really is and where one can find ...
12
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2answers
2k views

Two blocks, two transactions, same hash

Would a block containing a transaction with an identical hash as a previous transaction be considered valid? That is, if someone made a transaction for generating Bitcoins and solve two blocks with ...
6
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2answers
331 views

Is there any software available for testing of Bitcoin security?

I'm currently in the process of working on my thesis about Bitcoin security and I'm wondering if there's any software available for testing of Bitcoin security? For example, are there any programs ...
18
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4answers
5k views

Why does the Bitcoin protocol use the little-endian notation?

Why does the Bitcoin use the litte-endian notation? It is less common than big-endian notation, thus when programming low-level applications working with Bitcoin protocol, one quite often has to ...