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Bitcoin and Blockchain (bitcoin cash (BCH) (August 1, 2017 via BTC pool…

- - - - keeps record centralized
- - - - The role of a miner is to build the blockchain of records that form the Bitcoin ledger
        
        A new blockchain is added every ten minutes as new bitcoin transactions take place
- - - - SHA256 Hash
        
        message digest
        
        one way function
        
        generates fingerprint of information, doesn't contain information
- - - - raises over time
        
        every two weeks
- - - - global bitcoin miner community
        
        miners race to solve the challenge
        
        a minor solves the cryptography challenge first
        
        the rest of the community verifies the validity of the new block minded
        
        the new block transaction is added to the bitcoin blockchain
        
        The winning miner earns a reward for solving the challenge first (12.5 bitcoins)
- - - - Walmart partnership with IBM
    - - Australian bank with IBM
- - - - not the same thing
- - - - Protocol Upgrade
      - improves scalability without increasing block size
      - addresses transaction malleability
      - does not require upgrading to remain on the blockchain
      - did not cause a split
- - - - 21million total
- - - - hardware wallet
        
        use both
      - cold storage
  - - - sweep
    - - seed
  - - - bitcoin address
        
        new address for every transaction
  - - - visa
    - - localbitcoins.com