In this article I will address the question “What is a bitcoin fork?”. It seems to be a question a lot of people struggle to properly answer, so I will do my best to explain it to you in simple terms. So “what is a bitcoin fork?” There are 3 types of bitcoin forks: (1) a software fork, (2) a …

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I noticed there seems to be quite a lot of confusion among the general public about the question whether or not bitcoin transactions are anonymous. In this article I will therefore answer one of the most frequent questions I hear about bitcoin, more in particular “Are bitcoin transactions anonymous?” Bitcoin transactions are not anonymous. The bitcoin blockchain is an immutable …

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A recurring question I hear from friends who are new to bitcoin is “What is the bitcoin halving?”. Bitcoin miners are incentivized to secure the bitcoin network with the coinbase reward. The coinbase reward is an amount of new bitcoin that is created each time a block is added to the bitcoin blockchain. The coinbase reward decreases by a factor …

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A number of people who have been learning about bitcoin have recently asked me what is meant by the term ‘Segregated Witness‘ (abbreviated as SegWit). Therefore, I decided to dedicate this article to the question “What is Segregated Witness (SegWit)?” Segregated Witness is a change in the structure of bitcoin transactions, whereby signatures (‘witness‘ data) are separated from the list …

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Whenever someone sends an amount of bitcoin, one or more locked unspent transaction outputs (UTXOs) are unlocked and used as the inputs for the bitcoin transaction. The output(s) of the bitcoin transaction are newly created locked UTXOs, which in turn can be used as future transaction inputs by the new owner (i.e. the person holding the private key associated with …

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