What is A Seed Phrase? Seed phrase or recovery phrase, wallet back up, etc. are a string of words 12 to 24 in length that is the key to access your digital currency wallet. Wallets generate these words. And after entering it, you can access your wallet. Example of a seed phrase: (forget stereo follow…Continue readingBIP39, Seed Phrases- What is it for, and do they have enough security?
Day: September 21, 2021
What is SegWit? Many people use SegWit addresses even though they are not aware what it really is. Neither are they aware of its benefits to the Bitcoin network. The term SegWit stands for “Segregated Witness”. It is basically a way or technique to cut down the transaction fee for Bitcoin. So if you want…Continue readingSegWit (Segregated Witness): A Solution To the bitcoin scalability problem
Chances are, you’ve been watching Youtube today, but you probably don’t know about this stat.Continue readingBuffer Health – What is This Youtube Metric?
What is a P2P Network and How Does it Work? Basically, a Peer-to-Peer (P2P) network is one that allows the sharing of resources between two or more computers without the involvement of a central computer also known as the server. Such a network is decentralized in nature and P2P is widely used for various applications…Continue readingWho Else Wants To Know The Mystery Behind P2P NETWORKS?
The Bitcoin block size limit is a parameter in the bitcoin protocol that determines the size of bitcoin blocks. The average time required to create each block is 10 minutes and its size is 1 MB. Bitcoin blocks contain a file in which the data pertaining to new transactions in the bitcoin network is recorded.…Continue readingBitcoin Block Size Limit – An Important Parameter for Bitcoin or Limiting the Bitcoin Network?