Encryption algorithm $BTC
Bitcoin relies on a variety of encryption technologies to ensure the security and privacy of transactions.
• SHA-256: Bitcoin uses the SHA-256 hash algorithm to generate hash values for transactions and blocks to ensure data integrity and security.
• Public key encryption: Bitcoin addresses are generated by public keys, while the user's private key is used to sign transactions, ensuring that only those with private keys can spend the corresponding bitcoins.
Transaction mechanism
Bitcoin transactions are the process of linking inputs (previous transaction outputs) and outputs (new transaction outputs).
• UTXO model: Bitcoin uses the unspent transaction output (UTXO) model to record the ownership status of each bitcoin. Each transaction consumes one or more UTXOs and generates new UTXOs.
• Transaction script: Bitcoin transactions use a simple programming language, Bitcoin script, to define transaction verification rules. Scripts are divided into locking scripts (output scripts) and unlocking scripts (input scripts). $ETH
