Cryptocurrency Q&A
How do Bitcoins verify transactions?
How do Bitcoins verify transactions?
Tommaso
Tue Dec 24 2024
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5 answers
671
I'm curious about the verification process of Bitcoin transactions. How does the system ensure the authenticity and security of these digital transactions without a central authority?
5 answers
SsamziegangSerenadeMelodyHarmony
Thu Dec 26 2024
This verification process leverages a protocol known as proof of work, which is employed by Bitcoin.
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DigitalTreasureHunter
Thu Dec 26 2024
A transaction attains verified status once a miner successfully deciphers a cryptographic (mathematical) puzzle.
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Nicolo
Wed Dec 25 2024
The primary objective of proof of work is to safeguard the network against potential cyber attacks launched by any individual or group.
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DigitalDynasty
Wed Dec 25 2024
To achieve this, Bitcoin utilizes the Secure Hash Algorithm, specifically the 256-bit version known as SHA-251.
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GyeongjuGloryDaysFestival
Wed Dec 25 2024
SHA-256 is a crucial component of the proof of work protocol, ensuring the integrity and security of the Bitcoin network.
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