Post
Topic
Board Bitcoin Discussion
Merits 11 from 3 users
Why Bitcoin can be tamper-proof
by
kxwhalexk
on 12/07/2021, 07:33:58 UTC
⭐ Merited by Welsh (6) ,Ratimov (4) ,Coin-1 (1)
I want to discuss with you why Bitcoin can be tamper-proof.(This is a newbie question, should I put this post on Beginners & Help?)

I don’t know if the knowledge I have learned this month is complete, so I posted an article and I want to ask everyone to fill in the missing points for me.

  • Asymmetric encryption

The asymmetric encryption algorithm contains both a public key (Public Key) and a private key (Secret Key).

Data encrypted with the private key can only be decrypted with the public key, and data encrypted with the public key can only be decrypted with the private key.

Bitcoin uses an asymmetric encryption algorithm to ensure the security of every transaction. Every account (It may be a bit strange that the word account exists in Bitcoin's utxo system.) in the network is a public key in a pair of secret keys, and the owner of the account holds the private key.

It should be noted that it is extremely dangerous to use a website to generate a Bitcoin address and private key.
We do not know whether the website will store a private key, so it is recommended to use a Bitcoin client to generate a public-private key pair.

Anyone can transfer money to the account through the address; the account holder can also use the private key to sign the transaction to transfer money to other addresses.

We need to first build a transaction structure as shown below:
[/list]
Code:
txid hash version size vsize locktime vin vout hex blockhash confirmations time blocktime etc.
    Use the held private key to sign, then package the signature with the transaction and send it to the network to wait for confirmation from the Bitcoin network.

    For example, we want to hack an account:35hK24tcLEWcgNA4JxpvbkNkoAcDGqQPsP(12/7/2021 101451.70580859 BTC)

    We have to try 2
256 to crack his private key.

Now the fastest supercomputer Fugaku wonderful floating point calculation is 530 gigabits,Sorry i'm too lazy to forget.[]

  • Consensus algorithm

The basic unit of storage in the distributed database of Bitcoin is a block, and the block is connected by a hash pointer to form a tree.

Let all nodes in the network reach a consensus on the content of the next block is a key issue that Bitcoin needs to solve.

This is what we usually call the Byzantine generals problem,Satoshi 's answer is
1POW:allow nodes to calculate hashes that meet certain conditions before submitting new blocks, replacing the traditional distributed consensus algorithm that requires one person, one vote (or one node, one vote)

2The longest chain: the setting of the main chain-only transactions on the main chain are considered legal transactions

3Incentives:nodes that submit blocks can get bitcoin rewards

[/list]

But once someone in the node has more than 51% of the computing power, it can change the history of the blockchain.

Preventing 51% attacks is also very simple.

In most blockchain networks, transactions that have just been added to the blockchain network are unconfirmed.

As long as a sufficient number of blocks are appended to these blocks, the The transaction will be confirmed.

The number of transaction confirmations in Bitcoin is 6, and Bitcoin generates a block in 10 minutes on average,

so the confirmation time of a transaction is about 60 minutes, which is also a sacrifice that has to be made to ensure security.


Non-native English, please help me correct any grammar and vocabulary errors, thank you.