Generation and dependence of public key and address in bitcoin s
starting from the essence of bitcoin, the essence of bitcoin is actually a special solution generated by a bunch of complex algorithms. A special solution is one of the finite solutions of a system of equations. Every particular solution can solve the equation and is unique. In the metaphor of banknotes, bitcoin is the number of the top word of a banknote. If you know the number of the top word on a banknote, you have the banknote. The process of mining is to constantly seek the special solution of the equation system through huge amount of calculation. The equation system is designed to have only 21 million special solutions, so the upper limit of bitcoin is 21 million
to mine bitcoin, you can download the special bitcoin computing tools, register various cooperation websites, fill the registered user name and password into the computing program, and then click the operation to officially start. After completing the installation of bitcoin client, you can directly obtain a bitcoin address. When others pay, you only need to paste the address to others, and you can pay through the same client. After installing the bitcoin client, it will assign a private key and a public key. You need to back up the wallet data containing your private key to ensure that your property is not lost. Unfortunately, if the hard disk is completely formatted, personal bitcoin will be completely lost<
currency features
Decentralization: bitcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of bitcoin's security and freedom
Global Circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin
exclusive ownership: private key is required to manipulate bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself
low transaction cost: bitcoin can be remitted free of charge, but a transaction fee of about 1 bitfen will be charged for each transaction to ensure faster transaction execution
no hidden cost: as a means of payment from a to B, bitcoin has no cumbersome quota and proceres. If you know the other party's bitcoin address, you can pay
cross platform Mining: users can explore the computing power of different hardware on many platforms
advantages
completely decentralized, without issuing institutions, it is impossible to manipulate the number of issues. Its distribution and circulation are realized through open-source P2P algorithm
anonymity, tax exemption and supervision free
robustness. Bitcoin is completely dependent on P2P network and has no distribution center, so it cannot be shut down externally. Bitcoin price may fluctuate and collapse, and many governments may declare it illegal, but bitcoin and its huge P2P network will not disappear
cross border. Cross border remittance will go through layers of exchange control agencies, and the transaction records will be recorded by many parties. But if you trade with bitcoin, enter the digital address directly, click the mouse and wait for the P2P network to confirm the transaction, a lot of money will pass. It does not go through any regulatory agencies and will not leave any cross-border transaction records
it is difficult for the cat to survive. Because bitcoin algorithm is completely open source, anyone can download the source code, modify some parameters, recompile, and create a new P2P currency. But these counterfeit currencies are fragile and vulnerable to 51% attacks. Any indivial or organization, as long as it controls 51% of the computing power of a P2P currency network, can manipulate transactions and currency value at will, which will be a devastating blow to P2P currency. Many Shanzhai coins die in this link. The bitcoin network is robust enough. If you want to control 51% of the computing power of the bitcoin network, the number of CPUs / GPUs required will be astronomical
disadvantages
the vulnerability of trading platform. The bitcoin network is robust, but the bitcoin trading platform is fragile. Trading platform is usually a website, which will be attacked by hackers or shut down by competent authorities
transaction confirmation takes a long time. When bitcoin wallet is first installed, it will consume a lot of time to download historical transaction data blocks. While bitcoin transaction, in order to confirm the accuracy of data, it will take some time to interact with P2P network, and the transaction will be completed only after the whole network is confirmed
the price fluctuates greatly. Due to the intervention of a large number of speculators, the price of bitcoin for cash fluctuates like a roller coaster. Making bitcoin more suitable for speculation rather than anonymous trading
the public did not understand the principle, and the traditional financial practitioners resisted. Active netizens understand the principle of P2P network and know that bitcoin has no legal person to manipulate and control. But the public doesn't understand, and many people can't even tell the difference between bitcoin and q-coin“ "No issuer" is the advantage of bitcoin, but in the view of traditional financial practitioners, "no issuer" currency is worthless.
You can download a bitcoin wallet or register on a trading platform. Everyone's bitcoin address is unique. If you have an address, you can make a bitcoin transfer. Download bitcoin client or bitcoin wallet, you can also register your own bitcoin address. A bitcoin address is a string of 26 to 34 bits of letters and numbers, which looks a bit like garbled code
the bitcoin address is an indivial's bitcoin account, which is equivalent to your bank card number. Anyone can transfer bitcoin to you through your bitcoin address. The red box is the bitcoin address. Log in to my bitcoin bag and you can see the money
extended materials:
the concept of bitcoin was first proposed by Nakamoto in 2009. According to Nakamoto's idea, the open source software was designed and released, and the P2P network on it was constructed. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
unlike most currencies, bitcoin does not rely on specific currency institutions. It is generated by a large number of calculations based on specific algorithms. Bitcoin economy uses the distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity. The monetary system used to have no more than 10.5 million in four years, after which the total number will be permanently limited to 21 million
bitcoin can be cashed and converted into the currency of most countries. Users can use bitcoin to buy some virtual items, such as clothes, hats and equipment in online games. As long as someone accepts it, they can also use bitcoin to buy real-life items
reference: network bitcoin
Many small white just admission, was the private key, public key, address, and other relations confused. Some of them even lost their private key. They had money on the address, but they just couldn't get it out. Today, Xiao will try to figure out the relationship between the private key, the public key and the address
The relationship among < H2 > private key, public key and address is as follows:the private key is converted into (generated) public key, and then converted into address. If there is bitcoin or integrity coin on an address, the private key converted into the address can be used to spend the above integrity coin. The generation of public key and address depends on private key, so private key is the most important
mobile wallet is the same, but the file management method of mobile phone is not as convenient as computer. Therefore, the general mobile wallet will provide a function called or similar to "export private key". Through this function, the private key can be exported in various forms
for example, bitcoin mobile wallet can be exported as a two-dimensional code, which can be printed or scanned on paper. When replacing a mobile phone, install a bitcoin wallet and scan the QR code to migrate bitcoin. Bitcoin mobile wallet and trustcoin mobile wallet can be exported as a clear text string and printed on paper - this is paper wallet
paper wallet allows users to spend your bitcoin or trustcoin at any terminal with bitcoin or trustcoin wallet
because the wallet is lost or damaged, the private key will be lost, and the transfer right of the digital currency will be lost completely. To prevent such tragedies, you should always back up the data in your wallet. In addition to the address, all the private keys are saved ring the backup
< H2 > summary-
the private key should be protected to prevent loss and forgetting. When the mobile phone clears the information, it is best to it by hand, but do not disclose it
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you should prevent your wallet from being lost or damaged, resulting in the loss of your private key and the loss of the transfer right of digital currency. Otherwise, you will not be able to withdraw more money, which is not useless
How are bitcoin addresses and private keys generated? Bitcoin uses elliptic curve algorithm to generate public key and private key, and chooses secp256k1 curve. The generated public key is a 33 byte large number, and the private key is a 32 byte large number. The wallet file wallet.dat directly stores the public key and private key. The bitcoin address we use when receiving and sending bitcoin is obtained after the public key is processed by the algorithm. The specific process is that the public key is first processed by SHA-256 algorithm to get 32 byte hash result, then processed by ripemed algorithm to get 20 byte summary result, and then the address we see is obtained through the character conversion process. This character conversion process is the same as that of the private key. The steps are as follows: first, add the version number to the input content (the summary result of 20 bytes for the public key and the large number of 32 bytes for the private key). After two successive SHA-256 algorithms, take the first 4 bytes of the hash result of the last time as the check code and attach it to the back of the input content, and then encode it with base58, Get the string{ RRRRR}
bitcoin
trades directly through the wallet. Detailed can go to cnfol bitcoin network to learn how to trade, I don't know.
1. The mail cabinet is stolen (the database is stolen)
2. The key is stolen (the private key is stolen)
3. Knowing my home address (the public key is stolen), the mail cabinet lock is opened violently (the private key is cracked violently).
1. Who benefits the most from researching and hyping bitcoin
2. In essence, it's USA's Intel, NVIDIA, amd + ATI
3. Bitcoin requires a huge amount of CPU, GPU, memory, motherboard, power supply, wire and venue
4. Since the speculation of bitcoin, the sales of CPU, GPU, memory, motherboard, power supply and wire are the highest
5. It's the CPU and GPU instry of USA that really make a big profit, while the retail and service of other countries are just middlemen making a difference
6. The plan to hype bitcoin: it boosts the high-end, core and basic chip instry capacity of USA. other countries are compradors
7. Harm: lose the ability to develop domestic high-end, core and basic chips, and become a retailer that can only sell chips for USA.
2. If you replace it with the earliest backup wallet (wallet. DAT), you can still trade normally. Considering the principle of bitcoin, it can be concluded that as long as there is a private key (wallet), you can prove that you are the legitimate owner of the wallet. No matter whether you encrypt or delete the wallet (the core is the private key corresponding to an address), you can't deny it
3. When backing up the bitcoin wallet, you should also pay attention to the existence of the change mechanism of bitcoin payment (for example, if you send 50 BTC in a complete 100 BTC to an address, the system will send 50 BTC to the other party's address, and return 50 BTC to a new address of your client, which will not be directly displayed in your address list)
4. After sending bitcoin to other addresses 100 times or using 100 different addresses to receive bitcoin, please back up your wallet again, otherwise the returned and received bitcoin will be lost forever. In addition to encrypting wallets, users can also generate offline paper wallets and brain wallets.
Many small white just admission, was the private key, public key, address, and other relations confused. Some of them even lost their private key. They had money on the address, but they just couldn't get it out. Today, Xiao will try to figure out the relationship between the private key, the public key and the address
The relationship amongprivate key, public key and address is as follows:
the private key is converted into (generated) public key, and then converted into address. If there is bitcoin or integrity coin on an address, you can use the private key converted into this address to spend the above integrity coin. The generation of public key and address depends on private key, so private key is the most important
The same is true for mobile phone wallet, but the file management method of mobile phone is not as convenient as that of computer. Therefore, the general mobile wallet will provide a function called or similar to "export private key". Through this function, the private key can be exported in various formsfor example, bitcoin mobile wallet can be exported as a two-dimensional code, which can be printed or scanned on paper. When replacing a mobile phone, install a bitcoin wallet and scan the QR code to migrate bitcoin. Bitcoin mobile wallet and trustcoin mobile wallet can be exported as a clear text string and printed on paper - this is paper wallet
paper wallet allows users to spend your bitcoin or trustcoin at any terminal with bitcoin or trustcoin wallet
the loss or damage of the wallet will lead to the loss of the private key, thus completely losing the transfer right of the digital currency. To prevent such tragedies, you should always back up the data in your wallet. In addition to the address, all the private keys are saved ring the backup
summary
1, the private key should be well protected to prevent loss and forgetting. When the mobile phone clears the information, it is best to it by hand, but do not disclose it
2, you should prevent your wallet from being lost or damaged, resulting in the loss of your private key and the right to transfer in digital currency. Otherwise, you can't take out more than one currency, which is not useless