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Month: October 2014

The Bitcoin scripting language

October 20, 2014
My Blog

Continue the previous post thought, I found bitcoin is ready for the escrow-like payments. Read: You might expect that a Bitcoin transaction is signed simply by including the signature in the transaction, but the process is much more complicated. In fact, there is a small program inside each transaction that gets executed to decide if […]

Block chain bloat – micro-transactions problem

October 20, 2014
My Blog

The problem is good described in the following quote: Another problem is that with so many small transactions, the bitcoin block chain could, at some point, become unmanageable in size. Ortutay, the CoinWall proprietor, said: “You don’t want to send a lot of tiny transactions over the network that will bloat the block chain – […]