What was the first transaction in the bitcoin block

1.

It was officially born on January 3, 2009

since 2015, the future of bitcoin has become more and more uncertain. On the one hand, bitcoin fell as much as 55.55% against RMB last year; In 2015, bitcoin fell by more than 30% against the RMB in the first half of January alone

bitcoin's "falling" reflects the "self-healing" of its value after "fanaticism" to a certain extent. According to statistics, in 2013, bitcoin rose from 1 ∶ 13.59 to 1 ∶ 731, with an annual increase of 5300%. This speculative driven inflation has affected the virtual currency property on which bitcoin relies

on the one hand, no country has defined it as a legal currency. On the other hand, in 2014, the US dollar rose significantly, and the prices of oil and bulk commodities fell correspondingly. The price trend of bitcoin is the same as that of the latter, becoming part of the asset allocation of some speculators, which highlights that its asset attribute is far greater than the monetary attribute

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Security and credit risk have also become the reasons for the decline of investor confidence. Mt. GOx, once the world's largest bitcoin exchange, claimed in March last year that it had lost all its assets e to hacker attacks. Recently, it was revealed that its lost bitcoin was probably e to internal system manipulation

the regulatory environment of bitcoin is not optimistic, and Russia, Thailand and other countries have begun to implement strict control on it. In addition, the global stock market performed well last year, resulting in the diversion of bitcoin investment funds, and the crazy "mining" activities also rapidly increased the supply of bitcoin, which may lead to a trend of oversupply in the short term, leading to a sharp drop in the price of bitcoin

2. This is not a rigid rule. It has nothing to do with blockchain. There is a relationship between the algorithm of this currency. The confirmation method of each currency is different, so this is not a rigid rule
the confirmation times of bitcoin are different from that of Ruitai coin, Laite coin and doggy coin.

3. In order to understand the technical principle of bitcoin, we need to understand two important cryptographic techniques: hash code: it converts a long string into a fixed length string, and its conversion is irreversible, that is, it is impossible to guess the original string from hash code. Sha256 is mainly used in bitcoin protocol
public key system: corresponds to a public key and a private key, keeps the private key in the application and publishes the public key. When Party A transmits information to Party B, it can use Party A's private key to encrypt the information, and Party B can use Party A's public key to decrypt the information, so as to ensure that the third party cannot impersonate Party A to send the information; At the same time, when Party A transmits information to Party B, it is encrypted with Party B's public key and sent to Party B, and then Party B decrypts it with his own private key, so as to ensure that the third party cannot eavesdrop on the communication between the two people. RSA is the most common public key system, but the lliptic curve digital signature algorithm is used in bitcoin protocol. What's the difference between cash and bank account? Bitcoin is an electronic currency in BTC. In this article, it is also used to refer to the whole bitcoin system. Like opening an account in a bank, the corresponding concept in bitcoin is address. Everyone can have one or more bitcoin addresses, which are used to pay and collect money. Each address is a string that starts with 1. For example, I have two bitcoin accounts, and. A bitcoin account is uniquely determined by a pair of public key and private key. To save the account, you only need to save the private key file. Unlike bank accounts, banks keep all transaction records and maintain the book balance of each account, while bitcoin's transaction records are jointly maintained by the whole P2P network through a pre agreed protocol. How much money is in my account address? Although the current account balance can be seen by bitcoin software, unlike banks, there is no place to maintain the book balance of each address. It can only calculate the account balance in real time through all historical transactions. How do I pay? When I pay from address a to address B of the other party, the payment amount is e. at this time, both parties will announce the transaction information to each network node, telling address a to pay to address B, and the payment amount is e. In order to prevent the third party from forging the transaction information, the transaction information will be encrypted with the private key of address A. at this time, the network node receiving the transaction information can use the public key of address a to verify that the transaction information is indeed sent by address a. Of course, trading software will help us do these things, we just need to input the relevant parameters in the software. What will the network node do after receiving the transaction information? This is the most important part of the bitcoin system, which needs to be elaborated. For the sake of simplicity, only bitcoin protocol has been implemented. In the current version, each network node will save all transaction information synchronously. There are two kinds of transaction information in history, one is & quot; Verified & quot; The transaction information, that is, the verified transaction information, is stored in a series of "blocks". Each & quot; block" Is the previous & quot; bock" The ID of each block is the hash code of the hash code of the block and the new transaction information (see an actual block). The other category refers to those who also & quot; Unverified & quot; The transaction information just paid above belongs to this category. When a network node receives new unverified transaction information (possibly more than one), it can calculate the book balance of each address at that time because the node keeps all the transaction information in history, so it can calculate whether the transaction information is valid, that is, whether there is enough balance in the payment account. After eliminating the invalid transaction information, it first takes out the last & quot; block" Then, the unverified transaction information is combined with the ID, and a verification code is added to form a new "block". It needs a lot of calculation to build a new block, because it needs to calculate the verification code, so that the above combination becomes a block, that is, the first several bits of the hash code of the block are 1. At present, the first 13 bits need to be 1 (generally, the specific method is uncertain), which means that if the block is generated by enumeration method, the average number of enumerations is 16 ^ 13. Using CPU resources to generate a block is called "gold mining", because the proction of the block will get a certain reward, and the reward information has been included in the block. When a network node generates a new block, it will broadcast to other network nodes. However, this network block may not be accepted by the network, because it is possible that other network nodes have proced the block earlier. Only the earliest block or the block with the largest number of subsequent blocks is valid, and the remaining blocks are no longer used as the initial blocks of the next block. How does the other party confirm that the payment is successful? When the payment information is distributed to the network node, the network node begins to calculate whether the transaction is valid (that is, whether the account balance is enough to pay), and attempts to generate blocks containing the transaction information. When six blocks (one direct block and five subsequent blocks) contain the transaction information, the transaction information is considered "verified", so that the transaction is formally confirmed, and the other party can confirm the successful payment. A possible problem is that I will pay the balance of address a to address B, and at the same time pay to address C. If I only verify that the single comparison transaction is valid. At this point, my way of cheating is to generate six blocks including B to B and six blocks including C to C before the truth is revealed. Because I need a very long CPU time to generate a block, compared with the whole network, the probability of my cheating success is very small. What is the motivation of network nodes to proce blocks? As can be seen from the above description, in order to make the transaction information effective, the network node needs to generate 1 and 5 subsequent blocks to contain the transaction information, and such block generation is very CPU intensive. How to let other network nodes help to proce blocks as soon as possible? The answer is very simple. The agreement stipulates that BTC will be rewarded for the address where the block is proced, as well as the Commission promised by both parties. At present, the reward for procing a block is 50btc, which will be halved every four years in the future. For example, the reward will be 25btc from 2013 to 2016. Is the transaction anonymous? Yes, and No. All bitcoin transactions are visible. We can check all transaction records of each account, such as mine. But what's different from the banking monetary system is that everyone's account itself is anonymous, and everyone can open many accounts. In general, anonymity is not as good as it claims. But bitcoin has another advantage in doing black market trading: it can't be frozen. Even if the police trace a bitcoin address, there is nothing they can do unless they trace the computer used by the exchange based on the Internet address. How to ensure that bitcoin does not depreciate? Generally speaking, in the case of equivalent trading activities, the value of money is inversely proportional to the amount of money issued. Unlike the traditional money market, the central bank can determine the amount of money issued. Bitcoin does not have a central issuing institution. Only by procing blocks can we get a certain amount of BTC currency. Therefore, bitcoin's new amount of money depends on: 1. The speed of procing blocks: bitcoin's agreement stipulates that the difficulty of procing blocks is fixed at an average of 2016 every two weeks, about 10 minutes. Moore's law of doubling CPU speed every 18 months will not speed up the proction of block. 2. The number of rewards for block proction: at present, 50 BTC is awarded for each block proced, which is halved every four years. In 2013, 25 BTC is awarded, and in 2017, 12.5 BTC is awarded. Considering the above two factors, bitcoin's currency issuing speed is not controlled by any single node in the network. Its protocol makes the currency stock known in advance, and the maximum stock is only 21 million BTC

4. The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system
unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity

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5. The first transaction of bitcoin was not pizza, but took place in the independent forum of bitcoin. In 2009, a person exchanged $5.02 for 5050 bitcoins, and the unit price was the electricity cost of one bitcoin.

6. A block size of bitcoin is 1MB. There is no limit on the size of each transaction. A block can generally contain 2000-3000 transactions.

7. Each block contains the information of all recent transactions, a nonce (random number) and the hash value of the previous block. When the SHA-256 hash value of the whole block is lower than the current target value, it is marked as "resolved" (published and verified by multiple nodes). Usually, it is difficult to achieve the goal by hashing once, so nonce must be increased, and blocks must be hashed millions of times to achieve the goal.

8.

Transaction mode of bitcoin

bitcoin is e-cash similar to e-mail, and both parties need "bitcoin wallet" similar to e-mail and "bitcoin address" similar to e-mail address. Just like sending and receiving e-mail, the remitter pays bitcoin directly to the other party through a computer or smart phone according to the recipient's address. The following table lists some websites that download bitcoin wallets and addresses for free

a bitcoin address is a string of about 33 characters long, consisting of letters and numbers, always starting with 1 or 3, such as & quot& quot; Bitcoin software can generate address automatically, and it doesn't need to exchange information online, so it can be offline. More than 2 bitcoin addresses are available. Figuratively speaking, there are about two grains of sand in the world. If there is an earth in each grain of sand, then the total number of bitcoin addresses far exceeds the number of all the sand on all these "earths"

the bitcoin address and private key appear in pairs, and their relationship is just like the bank card number and password. A bitcoin address is like a bank card number, which records how much bitcoin you have on it. You can generate bitcoin address at will to store bitcoin. When each bitcoin address is generated, a corresponding private key of the address will be generated. This private key proves that you have ownership of the bitcoin at that address. We can simply understand the bitcoin address as the bank card number, and the private key of the address as the password of the corresponding bank card number. Only when you know the bank password can you use the money on the bank card number. Therefore, please keep your address and private key when using bitcoin wallet

after the transaction data of bitcoin is packaged into a "data block" or "block", the transaction is initially confirmed. When a block is linked to a previous block, the transaction is further confirmed. After six block confirmations in a row, the transaction was irreversibly confirmed. Bitcoin P2P stores all transaction history in a "blockchain.". The blockchain continues to extend, and once new blocks are added to the blockchain, they will not be removed. Blockchain is actually a distributed database composed of a group of scattered client nodes and all participants, which is a record of all bitcoin transaction history. Nakamoto predicts that when the amount of data increases, users hope that not all the data will be stored in their own nodes. In order to achieve this goal, he uses the hash function mechanism. In this way, the client will be able to automatically eliminate those parts that it will never use, such as some very early bitcoin transactions

9. Say strong, in the game book can only be regarded as entry-level graphics card, say weak, basically better than all the office books carrying graphics cards, such as mx250 / 150 and so on.

10. Chuangshi block contains a hidden information, and the input of coinbase transaction contains such a sentence as "the times 03 / Jan / 2009 merchant on brink of second low for banks."
this sentence is the title of the front page article of the times on that day. Quoting this sentence is an explanation of the generation time of the block, It can also be seen as a half joke to remind people of the importance of an independent monetary system, and to tell people that with the development of bitcoin, an unprecedented global monetary revolution will take place. The message was written into the genesis block by the founder of bitcoin, Nakamoto Tsung.