CHILDERS/VIDEOS_KHANBitcoin: DigSIG/TRANS REC/ PROOF

Front

What is a digital signature?

Back

A digital signature is a mathematical mechanism that combines a public sequence of numbers with a digital message.

Front

In a digital signature scheme, what keys does Alice generate?

Back

Alice generates a signing key (private) and a verification key (public).

Front

How is a digital signature created?

Back

The signature is derived from the message and the signing key.

Front

What inputs are needed for the verification process of a digital signature?

Back

The verification process uses the message, the signature, and the public verification key.

Front

In the context of Bitcoin, what is a transaction?

Back

A digitally-signed declaration of intent to transfer bitcoins

Front

In the Bitcoin ecosystem, what does a pseudonym correspond to?

Back

A public verification key

Front

What is the purpose of using cryptographic hash functions in a Bitcoin transaction?

Back

To verify the chain of ownership of bitcoins

Front

Who helps with the broader validation of a Bitcoin transaction by using the transaction fee?

Back

A bitcoin miner

Front

What is the purpose of having a decentralized mechanism for agreeing on the order of Bitcoin transactions?

Back

To prevent double spending of bitcoins

Front

What is the main purpose of a proof of work protocol?

Back

Proof of work is a way to show that a lot of computational effort has been done.