Bitcoin

Bitcoin Trivia #7

Bitcoin Trivia #7
Bitcoin Trivia #7
  1. Replace by Fee (RBF): A protocol that increases the transaction fee to speed up transaction confirmation.
  2. Child Pays for Parent (CPFP): A method of increasing the fee on a related new transaction to confirm an unconfirmed transaction.
  3. BIP (Bitcoin Improvement Proposals): A standard for documenting new proposals and information regarding the Bitcoin protocol, clients, and ecosystem.
  4. OP_RETURN: A script instruction that allows small amounts of arbitrary data to be embedded in a Bitcoin transaction.
  5. Bitcoin Pizza Day: The incident in 2010 when two pizzas were purchased for 10,000 BTC. This is widely recognized as the first real-world transaction.
  6. Bitcoin’s Taproot Upgrade: A major protocol upgrade in 2021 aimed at improving privacy and the efficiency of smart contracts.
  7. CoinJoin: A technology that mixes transactions from multiple users to enhance transaction privacy.
  8. Bitcoin Full Node: A computer that maintains a complete copy of the Bitcoin blockchain and enforces the network’s rules.
  9. Types of Bitcoin Wallets: There are various types of wallets, including hardware wallets, paper wallets, mobile wallets, and desktop wallets.
  10. Bitcoin and Tariffs: Some countries are considering imposing tariffs on the import and export of Bitcoin.
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