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Written by Ibironke Marvellous The Lightning Network is a second-layer payment protocol built on the Bitcoin network. It is designed to improve the scalability of the Bitcoin network and provide near-instant, low-cost transactions. In contrast, the Bitcoin network is a first-layer payment protocol that supports secure, decentralized transactions. The Lightning
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Written by Nasser Saazi One of the most fundamental properties of Bitcoin as a medium of exchange is that transactions, once made, remain valid and cannot be double spent. When Alice pays Bob, she wants the assurance that the payment made can never be invalidated. This is critical to the
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Written by Abubakar Sadiq Ismail Bitcoin address is a set of alphanumeric characters which can also be encoded in a QR code format, bitcoin addresses have uniform prefixes 1, 3, bc1 etc., and each prefix type has a meaning. Bitcoin addresses are used to receive bitcoin payments from other bitcoin
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Written by Amadi Justice Chinonso Bitcoin transaction fees are crucial for incentivizing miners and maintaining the network's integrity. As the network grows, fees have become a significant concern. The Lightning Network is a second-layer payment protocol that allows for faster and cheaper transactions. This article explores Bitcoin and
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Written by Solomon Eze Overview As bitcoin continues to grow, layers or protocols built upon it continually look for better ways to improve the scale, adoption, and utility of bitcoin. A major problem between these layers is transaction barriers because it’s not a straightforward step to simply send bitcoin
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Written By Anthony Ugwu A bitcoin wallet is a digital software application that allows users to securely store, send, and receive Bitcoin. It does not actually store Bitcoin, but instead, it stores the private keys necessary to access and manage the user's Bitcoin balance. A wallet can be
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Written by Tobi Ojuolape BOLT, which stands for "Basis of Lightning Technology", refers to a set of technical specifications or protocols that define the rules and procedures for how the Lightning Network should operate. BOLT was first introduced in 2017 by a group of developers working on the
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Written by Oghenovo Usiwoma In the world of Bitcoin, addresses are used to specify how you want to receive coins. There are several types of addresses, each with its own properties and capabilities. The simplest type is Pay-to-Pubkey-Hash (P2PKH), which is generated from a public key hash and is secure
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Written by Masiko Timothy Hey, If you are here you might be already interested in getting yourself set up on this cool Lightning network mission , I found quite a couple of challenges in getting an easy guide to help me get setup much faster so I decided to write this
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Written by Marvellous Ibironike A derivation path is a sequence of numbers and letters. Before we go further let’s give an insight into HD wallets. HD WALLETS HD wallets, short for Hierarchical Deterministic wallets, are a type of wallet that uses a single seed phrase, also known as a
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Written by Tobechi Chukwuleta In simple terms digital signatures are techniques that are used to validate authenticity and integrity of a message. It's the digital equivalent of a handwritten signature or a stamped seal, but digital signature offers much more security than others. Digital signatures can provide evidence
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Written by Abubakar Sadiq Ismail Wallets are where private keys, public keys and addresses are kept securely. To generate bitcoin addresses or use a saved private key to sign a transaction in order to spend an unspent transaction output(UTXO). Generally reusing one address to receive bitcoin is bad for