Andreas M. Antonopoulos

“Six and a half billion people on this planet have no connection to the world of money. They operate in cash-based societies…

— Andreas M. Antonopoulos

“Transaction fees are calculated based on the size of the transaction in kilobytes, not the value of the transaction in bitcoin. Overall,”

— Andreas M. Antonopoulos

“As the adage of the entire internet once went, “I just replaced your entire industry with 100 lines of Python code,” that’s…

— Andreas M. Antonopoulos

“The concept of a balance is created by the wallet application. The wallet calculates the user’s balance by scanning the blockchain and…

— Andreas M. Antonopoulos

“Fortunately, bitcoin also creates the incentives to improve computer security. Whereas previously the risk of computer compromise was vague and indirect, bitcoin…

— Andreas M. Antonopoulos

“If an UTXO is larger than the desired value of a transaction, it must still be consumed in its entirety and change…

— Andreas M. Antonopoulos

“Bitcoin reaches consensus every 10 minutes about the state of the ledger as it existed in the past.”

— Andreas M. Antonopoulos

“Although the Bitcoin Core client includes a Type-0 wallet, using this wallet is discouraged by developers of Bitcoin Core.”

— Andreas M. Antonopoulos

“Deterministic, or “seeded,” wallets are wallets that contain private keys that are all derived from a common seed, through the use of…

— Andreas M. Antonopoulos

“As a best practice, the level-1 children of the master keys are always derived through the hardened derivation, to prevent compromise of…

— Andreas M. Antonopoulos

“the bitcoin network. Bitcoin users communicate with each other using the bitcoin protocol primarily via the internet, although other transport networks can…

— Andreas M. Antonopoulos

“This isn’t about nation-states anymore. This isn’t about who adopts bitcoin first or who adopts cryptocurrencies first, because the internet is adopting…

— Andreas M. Antonopoulos

“From now on, if you see a multisig unlocking script, you should expect to see an extra 0 in the beginning, whose…

— Andreas M. Antonopoulos

“There are a billion people, right now, with access to the internet and feature phones who could use bitcoin as an international…

— Andreas M. Antonopoulos

“BIP-39 was proposed by the company behind the Trezor hardware wallet and is incompatible with Electrum’s implementation.”

— Andreas M. Antonopoulos

“Bitcoin consists of: A decentralized peer-to-peer network (the bitcoin protocol) A public transaction ledger (the blockchain) A set of rules for independent…

— Andreas M. Antonopoulos

“A payment channel is a state channel where the state being altered is the balance of a virtual currency.”

— Andreas M. Antonopoulos

“The purpose of mining is not the creation of new bitcoin. That’s the incentive system. Mining is the mechanism by which bitcoin’s…

— Andreas M. Antonopoulos

“The higher fee is not because Eugenia is spending more money, but because her transaction is more complex and larger in size…

— Andreas M. Antonopoulos

“The bitcoin transaction script language, called Script, is a Forth-like reverse-polish notation stack-based execution language. If that sounds like gibberish, you probably…

— Andreas M. Antonopoulos

“Serialization is the process of converting the internal representation of a data structure into a format that can be transmitted one byte…

— Andreas M. Antonopoulos

“outputs are discrete and indivisible units of value, denominated in integer satoshis. An”

— Andreas M. Antonopoulos