Bitcoin

Understand the mechanisms, then explore their implications.

Bitcoin records unspent transaction outputs, or UTXOs.

A miner constructs a candidate block and searches for a header whose double SHA-256 hash does not exceed the target.

The first transaction in a block, called the coinbase transaction, lets the miner claim the permitted subsidy and transaction fees.

Fees are commonly quoted in satoshis per virtual byte.

Bitcoin Script specifies spending conditions, such as signatures, multiple signers or time constraints.

A recovery phrase can reconstruct the keys of a deterministic wallet.