Ethereum Q&A: What is Metropolis?

“What will Metropolis mean for Ethereum?”Great question. Metropolis is the third out of four planned transitions for Ethereum,which was deployed in a manner that expects certain major transitions between stages of development.The first stage of development was called “Frontier.”Frontier involved the pre-sale of ether and the first pre-beta version of [the Ethereum network].The current or…

Bitcoin Q&A: What will Bitcoin Core 1.0 look like?

“What would Bitcoin Core 1.0 look like? I believe Satoshi first ran bitcoind 0.1.”“With all of the years [behind it] so far, any ideas about what Bitcoin Core 1.0 could possibly look like?”Right now, we are at version 0.17.I don’t know of any plans to move from the sub-version numbering to 1.0 anytime soon.If you…

Ethereum Q&A: Why I’m writing ‘Mastering Ethereum’

“People are worrying that they’re going to lose you, Andreas, to the altcoin sphere.”Oh no!“Peter says, “Recently I’ve seen more and more people, especially on Twitter, commenting on…whether you will remain faithful to Bitcoin.”“In certain ways, I empathise. You certainly have never been in this for the money.”“That’s what I truly and thoroughly believe.”“It makes…

Picking the Right Blockchain for the Job

Today, I want to talk to you about which blockchain is the “best” blockchain.Are you ready? Let’s ask the audience.Altogether, at the count of three, you shout out which blockchain you think is the best.Three, two, one… [Audience shouts] Fantastic.That is what subjective experience is all about. We all have opinions, but opinions really don’t…

Ethereum Q&A: Developer compensation and performance indicators

“Have you heard about Vitalik’s new proposal to impose gas fees on wallet transactions to fund developers?”“What is this about?” Strictly speaking, this is a bit off-topic, but I will answer it quickly.There is a proposal in the Ethereum community, started by Vitalik, to [establish] a common practice.Not as a rule of the protocol, imposed…

Bitcoin Q&A: Will compliance with regulation benefit Bitcoin?

[AUDIENCE] Do you have any thoughts on the role of regulators and compliance [officers]?Can Bitcoin benefit [from them]?[ANDREAS] Do I have any thoughts on the role of regulators and compliance,and how it can benefit Bitcoin?Yes, I have many thoughts.I have delivered some of those thoughts in less than polite terms in other forums.I’ll keep them…

Bitcoin Q&A: The rules of Bitcoin (part 1)

[AUDIENCE] What do you mean when you say a transaction is “incorrect”?What is the difference between “correct” and “incorrect”?[ANDREAS] That’s a great question.There are a set of rules within the system, probably about thirty or forty rules altogether,that the software [uses to analyse transactions].For example, if a transaction says my address is paying your address…

Bitcoin Q&A: Empty blocks, orphan blocks, and valid chains

“Are the miners simultaneously verifying the solution of the previous block’s cryptographicfunction while competing to find the puzzle solution for the next new block?”Yes, they are.It takes about 15-20 seconds at least to validate a block.Depending on how complicated the block is, how complicated the scripts in the block are,some blocks may take less than…

Bitcoin Q&A: What will happen during The Halvening 2016? – Haves & Have-nots

[AUDIENCE] What is your personal view on the halving this year, and its impact on the difficulty?[ANDREAS] Sorry, what was the question? [AUDIENCE] The Halvening. [ANDREAS] The Halvening.Yes, the great Halvening of 2016. For those of you who are not quite familiar with this,every four years, the amount of subsidy in each Bitcoin block decreases…

Bitcoin Q&A: Data integrity and validation of keys

“What does the following sentence mean? ‘when transactions are broadcast to the network,the SHA-256 function is used to verify data integrity.’”Well, cryptographic hashes offer the ability to produce a fingerprint [of a piece of data].A hash functions [produces] a cryptographic digest.[You can provide] an arbitrary length data stream of bits [as input] and it will…