Topic: Things you should know in basics of Bitcoin network - Beginner's Guide V1 (Read 195 times)

Thanks for mentioning sir.

Yeah that's my bad dear i will fix it in flow i made a mistake maybe.. Well that's true as explained in the hash function and as per senior note on it Hash functions actually do convert the in-consistent data into a fixed & structured form.


Ohh i am very impressed by the way of your explanation and bro really it is far more effective in any context. Sense of Humor that is what matter and i liked what you wrote.

The bold part is wrong. Hash function converts the data/message into a fixed length digest. It doesn't encrypt anything. Encrypted result is something that you can "decrypt" meaning it is reversible like encrypting your private key with a password.

Digital signatures have to be provided with their corresponding public key in the bitcoin scripts since all OP_CHECK(MULTI)SIG(VERIFY) operations require public key(s).
Addresses are not used anywhere in signature verification process.

im king of wall of text explanations for dummy but even i can say it shorter while explaining more

---

from
to

This is actually an informative and educative piece you just provided above, because cryptography is one aspect not always talked about, unlike mining and hardwares aspect of the Bitcoin network, and you literally just did full justice to it in this thread. So that means in summery, that I can conclude by saying that cryptography is a pillar of the Bitcoin Blockchain that is responsible for the security and non-alterable nature of the bitcoin network and can be used to check the authenticity of data as per the user has access to it or not.

Hash function is like barbing somebody's hair and tattoo the head with an information then allow the hairs grow again then send the person to go deliver the information to the recipient, that is, the only person in this world that knows that if he shaves the Messengers hair, he'll have access to the information. These things happened in the olden days and it's quite the concept of hash function, which maintains the decentralized nature of cryptography. Only a specific recipient can decipher the message.

Bitcoin, we all know the digital asset or you can say the future store of value. The king of the crypto world a P2P payment system based on the blockchain technology but wait do you know Bitcoin on a blockchain depends on the four major pillars Software, Cryptography, Hardware and last but not least Mining.

I know most of us are familiar with Software, Hardware and Mining too let's see what Cryptography is? which is one of the basic elements of the bitcoin blockchain. So basically Cryptography is the technique used for the encryption of data, using the hash functions and digital signature. I simple mathematical techniques called hash functions are used to encrypt the data to ensure privacy and security on the bitcoin network.

What are the Hash Functions?

The math and computer science term hash function is basically a technique used in the data science. A Hash Function basically converts the erratic or random size of data into a particular fixed-size data set or table or any desired data structure. Hash Function is responsible for the security and non-alterable nature of the bitcoin network. You can say that it is the hash function that protects and manage data in blocks on the bitcoin network.

What are digital signatures?

Digital signatures are the mathematical techniques or schemes which are used to verify the authenticity of the digital message. The data in the message might be off any type. In the whole process, the Hash functions are used to convert plain data into encrypted one and then digital signatures are used to check the authenticity of data as per the user has access to it or not. In the Bitcoin network the digital signatures provide the public keys or addresses to the users for their utilities.

Role

So this is what cryptography is and this is how the whole process works on the bitcoin network now the point is how cryptography is the basic pillar of the bitcoin network . The answer is quite simple bitcoin network is recognized as one of the most secure and trusted P2P payment system and a future store of value in sort of digital gold. As we are moving from the age of traditional finance to the digital era now according to the concerns of users and future need the community do care about their privacy and the security of their assets too this is possible with the encryption of data done by cryptography.

Bitcoin introduced many things to the financial sector, including self-custody users' control of the market, decentralization, the deflationary model, and the most secure way to communicate in every mode. All this came true with the Basic elements of Bitcoin network and cryptography is one of them and responsible for security, nom-alterability and all the privacy-related concerns.