Fascinating, thank you for the link, that explains it well
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Hi, I would really like to get more exact explanations, so I will ask “few” questions, it will seem a lot of questions, but it is a bulk of similar question which are related and many may be answered in a “multi way”, some are retoric as well just to be more clear,so please do not run away from me:P:):
Private key is a random number <- OK, I get that, but how, when it is generated? Where? I assume user creates it in specific program / application when he is taking some action which requests encryption? How large is that number? Can it be double or it is always unsigned integer? What is meant by large size of that number, could it be 000000000123 as well? So, is it about how many places it takes or it has to bi absolute big number (which probably makes less sense)? Where it lives, is stored? Is it auto deleted once created? It is probably impossible to delete it anyway, we can just “forget” the path to it, which is not that secure, but ok, that is another topic. Why it is only a number mentioned as a private key, isn`t any other data type possible to use for creating private key, I assume that all data types are converted into numbers at the end anyway, is that the case? How the seed of 12 or 24 letters is related to private key? From the seed a private key is created, but yet who creates a seed, I assume those words are just randomly picked up and then from those words private key is created, but where and what it is that private key, how it looks? Where it is when in use and how it goes away? Is seed a private key, or it is actually just a seed which we than perceive as a private key, it looks like it is both just in different form (data type), depending on a momentary usage? How signature works under the hood? How users share those keys in what order, how is than executed, where those keys are attached, etc.? Yeah, I know:PPP:))
https://www.freecodecamp.org/news/how-to-generate-your-very-own-bitcoin-private-key-7ad0f4936e6c/ this article will answer your question.
https://www.youtube.com/watch?v=It6igBdMY-I here is Ivan video, he explains well about seed phrases.
https://learnmeabitcoin.com/beginners/digital_signatures_signing_verifying
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O thank you very much! I probably watched that Ivan`s Live Show back than, but it seems I have to review it now, cheers:)
- Describe what a function does in your own words?
Function takes an input does some calculation and gives an output. You can also say that a function describes a relationship between input (X)and output(Y).
2.What will be the output for the following inputs?
- a) f(2) =4
- b) f(7) = 17
- c) f(0) = 1
- Write the definition of a function f that takes an input x, divides it by four and then outputs that result subtracted by 5.?
f(x)= (x/4)-5
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I’m a bit confused about this, but is it the public key that encrypts the code and private key that decrypts it or vice versa? And how does it decrypt the encrypted message?
https://ssd.eff.org/en/module/deep-dive-end-end-encryption-how-do-public-key-encryption-systems-work this article will answer your question.
Thanks, this helped a lot!
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Let’s see how section about hashing will go… 
It’s what makes crypto immutable.
any updated link to check the actual Hashrate? I suppose we are on track again after the problems in Kazachstan as I have read an article that China mining is still very high although there was a ban. Anyway I feel China is speaking with a double tongue about BTC and Crypto. Now they have put kind of guarantee again on BTC to keep it protected (in a good way)…
https://www.coindesk.com/podcasts/the-breakdown-with-nlw/new-data-shows-underground-bitcoin-mining-thriving-in-china/
https://www.coindesk.com/business/2022/05/17/bitcoin-mining-appears-to-have-survived-ban-in-china/
This is all very positive news according to me and is proving and showing the real power of at least Bitcoin!
Turing complete programming language is completely new concept for me; although i learned back in school about the turing machine; and Mathlab; and other very old projects.
disclaming my old school education; what are the latest programming languages use for fintech or defi using mathematical models such as solidity; in my early starts with L2 smart contract crypto I heard about Cardano, which uses Plutus for Smart contracts;
anyone has able to play with Plutus and compare differences between Solidity?
Base58 encoding on the address is a great, fast, and necessary option! One wrong character and your currency is somewhere else.
I am confused. In the hash reading assignment, it states a hash can never be used as a digital fingerprint. However, in the video Ivan produces, he refers to a hash as a digital fingerprint…
Hello Gnarly.Karly
The reading assignment mentions the below small detail that i missed initially but makes sense after reading it again. Hope this helps
"As a result of the hash’s features, it can never be used or treated as any form of digital fingerprint of the data which was originally processed. "
No idea about hash functions
A hash function is a method originally created to compare files, sent from a server, to the files you received, to ensure data integrity of the downloaded files.
- All the data in the originating file is put through a specific algorithm to come up with an encrypted result. This encrypted result is noted and saved.
- The file is transmitted to you.
- You take that data and run the same algorithm over it, to get a result.
- You compare this result to the result from the first step.
- If they are equal, you received the exact data. If they are different, some packets have been dropped or the data has been manipulated and you need to receive the original file again.
This was the original use case of hashing. Hashes are used here for tying blockchains together.
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For Bitcoin, the Secure Hash Algorithm used is sha(256).
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This looks more like something I would write for programing, not a math equation.