From beffd3628db52a6f258c2b08a1a366aca22c85de Mon Sep 17 00:00:00 2001 From: _imadia Date: Thu, 17 Oct 2024 17:13:01 +0600 Subject: [PATCH] Update RU translations --- .../core/blockchains-explained.md | 37 +++++++------ .../bitcoin-as-a-cryptocurrency.md | 16 +++--- .../bitcoin-economics/bitcoin-mining.md | 22 ++++---- .../economic-principles-of-bitcoin.md | 10 ++-- .../decentralization-and-security.md | 14 ++--- .../bitcoin-network/is-bitcoin-stoppable.md | 14 ++--- .../the-bitcoin-network-structure.md | 10 ++-- .../bitcoin-ownership/acquiting-bitcoin.md | 10 ++-- .../choosing-the-right-wallet.md | 22 +++++--- .../custodial-vs-non-custodial-wallets.md | 15 ------ .../securing-your-bitcoin-wallet.md | 37 +++++++------ .../bitcoin-ownership/what-is-self-custody.md | 22 ++++++-- .../advanced-transaction-concepts.md | 44 ++++++++------- .../sending-and-receiving-bitcoin.md | 13 ++--- .../transaction-confirmations-and-states.md | 23 ++++---- .../bitcoin-transactions/transaction-fee.md | 10 ++-- src/edu/ru/bitcoin/intro/bitcoin-origins.md | 14 ++--- .../ru/bitcoin/intro/the-rise-of-bitcoin.md | 14 ++--- src/edu/ru/bitcoin/intro/why-bitcoin.md | 22 ++++---- .../privacy-features-in-bitcoin-wallets.md | 35 ++++++------ ...in-blockchain-pseudonymity-vs-anonymity.md | 8 +-- .../spv-wallets-a-simple-users-guide.md | 15 +++--- .../core/blockchains-explained.md | 36 ++++++------- .../core/cryptocurrencies-vs-tokens.md | 30 +++++------ .../core/cryptocurrency-and-ownership.md | 14 ++--- .../fundamentals/core/why-cryptocurrencies.md | 37 +++++++------ ...ransaction.md => canceling-transaction.md} | 28 ++++------ .../transactions/privacy-in-transactions.md | 42 +++++++-------- .../transactions/sending-receiving.md | 37 ++++++------- .../transactions/transaction-fees.md | 40 +++++++------- .../transactions/transaction-states.md | 35 ++++++------ .../wallets/crypto-wallet-explained.md | 40 +++++++------- .../fundamentals/wallets/hardware-wallets.md | 53 +++++++++--------- .../fundamentals/wallets/importing-wallets.md | 15 +++--- .../must-haves-for-non-custodial-wallet.md | 54 +++++++------------ .../wallets/wallet-backup-is-critical.md | 42 +++++++-------- .../wallets/wallet-creation-explained.md | 35 ++++++------ 37 files changed, 475 insertions(+), 490 deletions(-) delete mode 100644 src/edu/ru/bitcoin/bitcoin-ownership/custodial-vs-non-custodial-wallets.md rename src/edu/ru/fundamentals/transactions/{canceling_transaction.md => canceling-transaction.md} (58%) diff --git a/src/edu/en/fundamentals/core/blockchains-explained.md b/src/edu/en/fundamentals/core/blockchains-explained.md index 2ae6f85..fcc4b1a 100644 --- a/src/edu/en/fundamentals/core/blockchains-explained.md +++ b/src/edu/en/fundamentals/core/blockchains-explained.md @@ -1,35 +1,34 @@ -# Blockchains Explained +# Блокчейн: как это работает +Давайте разберемся, как работают Bitcoin и другие ведущие криптовалюты. Что делает их особенными и чем они отличаются от традиционных денег на вашем банковском счете? -Let’s explore how Bitcoin and other top-tier cryptocurrencies work. What makes them special, and how are they different from traditional money in your bank account? +Bitcoin и ведущие криптовалюты, такие как Ethereum, работают на основе **технологии блокчейн**. Эта технология позволяет миллионам независимых устройств (телефонам, компьютерам, серверам и т.д.) безопасно совершать транзакции в режиме реального времени без участия центрального органа управления. -Bitcoin and top-tier cryptocurrencies like Ethereum are powered by **blockchain technology**. This technology enables millions of independent entities (phones, computers, servers, etc.) to transact securely in real time without relying on a central authority. +Каждый блокчейн работает через публично открытую программу (часть кода), которая позволяет пользователям отправлять транзакции друг другу и отслеживает их балансы. -Every blockchain operates through a publicly open software program (a piece of code) that allows users to send transactions to one another and tracks their balances. +Что делает блокчейн особенным? +Технология блокчейн уникальна благодаря следующим характеристикам: -What Makes Blockchain Special? -Blockchain technology is unique due to the following characteristics: +- 📡 **Распределенность:** -- 📡 **Distributed:** +Вместо хранения в одном централизованном месте, блокчейн позволяет хранить историю транзакций одновременно в тысячах мест. Каждый участник имеет копию, которая обновляется практически в реальном времени. -Instead of being stored in a single centralized location, the blockchain allows the transaction history to be held in thousands of locations simultaneously. Every participant keeps a copy, which is updated in near real-time. +- **🔗 Равноправное взаимодействие:** -- **🔗 Peer-to-Peer:** +Любой участник может добавить новую транзакцию в глобальную историю транзакций, общаясь с любым узлом в сети. Затем эта транзакция распространяется на все остальные узлы этой сети. Отсутствие "единой точки доступа" обеспечивает круглосуточную доступность и безусловный доступ к участию. -Any participant can add a new transaction to the global transaction history by communicating with any entity on the network. This transaction is then propagated to all other entities on that network. The absence of a “single point of access” ensures 24/7 availability and unconditional access to participation. +- **🔍 Прозрачность:** -- **🔍 Transparent:** +Блокчейны обычно прозрачны, что означает, что вся история транзакций публична и доступна для изучения любому желающему. Хотя транзакции публичны, личности участвующих сторон скрыты: третьи стороны могут видеть, что происходит, но не могут определить, кто именно участвовал. -Blockchains are generally transparent, meaning the entire transaction history is public and accessible for anyone to scrutinize. While transactions are public, the identities of the entities involved are masked: third parties can see what’s happening but cannot identify who exactly was involved. +- **🔒 Неизменность:** -- **🔒 Immutable:** +После совершения транзакции ее невозможно отменить. Это гарантирует, что никто не может изменить историю транзакций. -Once a transaction has taken place, it cannot be reversed. This ensures that no entity can alter the transaction history. +- **⚖️ Демократичность:** -- **⚖️ Democratic:** +Все участники сети равны и подчиняются одному набору правил. Если кто-то пытается действовать вне согласованных правил, его действия будут проигнорированы другими участниками. -All network participants are equal and abide by the same set of rules. If one entity tries to act outside the agreed-upon rules, their actions will be disregarded by other participants. +Например, блокчейн Bitcoin - это по сути большая сеть устройств (компьютеров, майнеров и т.д.), работающих на открытом программном обеспечении Bitcoin. Эти устройства постоянно общаются друг с другом и ведут учет транзакций Bitcoin между участниками сети (т.е. кошельками). -For instance, a blockchain like Bitcoin is essentially a large network of devices (computers, miners, etc.) running open-source Bitcoin software. These devices continuously communicate with each other and maintain a record of Bitcoin transactions conducted between network participants (i.e., wallets). - -In this way, Bitcoin aims to provide a financial platform for secure value exchange without relying on gatekeepers or intermediaries like banks. \ No newline at end of file +Таким образом, Bitcoin стремится предоставить финансовую платформу для безопасного обмена ценностями без опоры на контролеров или посредников, таких как банки. \ No newline at end of file diff --git a/src/edu/ru/bitcoin/bitcoin-economics/bitcoin-as-a-cryptocurrency.md b/src/edu/ru/bitcoin/bitcoin-economics/bitcoin-as-a-cryptocurrency.md index 63e5cf2..d07ae18 100644 --- a/src/edu/ru/bitcoin/bitcoin-economics/bitcoin-as-a-cryptocurrency.md +++ b/src/edu/ru/bitcoin/bitcoin-economics/bitcoin-as-a-cryptocurrency.md @@ -1,15 +1,15 @@ -# Bitcoin as a Cryptocurrency +# Bitcoin as a Cryptocurrency 💰 -### BTC as the Native Unit +### BTC as the Native Unit -Bitcoin (BTC) is the main currency used on the Bitcoin network. It is the first decentralized digital currency and is recognized globally as a new form of money. All transactions within the network are settled in BTC, making it the primary unit of value. +Bitcoin (BTC) is the main currency used on the Bitcoin network. It is the **first decentralized digital currency** and is recognized globally as a new form of money. All transactions within the network are settled in BTC, making it the primary unit of value. 🌍 -### Scarcity and Practical Supply +#### 📊 Scarcity and Practical Supply 📊 -Bitcoin’s fixed supply is capped at 21 million coins, making it scarce by design. However, the actual number of Bitcoins available is even smaller. Many Bitcoins have been lost due to forgotten passwords or misplaced wallets, reducing the number of coins that can ever be used. It’s estimated that about 4 million Bitcoins are gone forever, and a large number of Bitcoins are held by long-term investors who rarely sell. +Bitcoin's fixed supply is capped at **21 million coins**, making it scarce by design. However, the actual number of Bitcoins available is even smaller. Many Bitcoins have been lost due to forgotten passwords or misplaced wallets, reducing the number of coins that can ever be used. It's estimated that about 4 million Bitcoins are gone forever, and a large number of Bitcoins are held by long-term investors who rarely sell. 🔒 -In practical terms, the number of Bitcoins actively traded on exchanges or distributed through mining rewards and ETFs (Exchange-Traded Funds) is much smaller than the theoretical supply. This real-world scarcity makes Bitcoin even more valuable over time. +In practical terms, the number of Bitcoins actively traded on exchanges or distributed through mining rewards and ETFs (Exchange-Traded Funds) is much smaller than the theoretical supply. This real-world scarcity makes Bitcoin even more valuable over time. 📈 -### Divisibility and Satoshis +#### 🔢 Divisibility and Satoshis -Even though Bitcoin is scarce, it’s highly divisible. Each Bitcoin can be broken down into 100 million units, known as **Satoshis**. This means you don’t need to buy a whole Bitcoin to use it—small fractions can be used for everyday transactions, making Bitcoin accessible to anyone. \ No newline at end of file +Even though Bitcoin is scarce, it's highly divisible. Each Bitcoin can be broken down into 100 million units, known as **Satoshis**. This means you don't need to buy a whole Bitcoin to use it—small fractions can be used for everyday transactions, making Bitcoin accessible to anyone. 🔬 diff --git a/src/edu/ru/bitcoin/bitcoin-economics/bitcoin-mining.md b/src/edu/ru/bitcoin/bitcoin-economics/bitcoin-mining.md index e37ac3d..17ad73a 100644 --- a/src/edu/ru/bitcoin/bitcoin-economics/bitcoin-mining.md +++ b/src/edu/ru/bitcoin/bitcoin-economics/bitcoin-mining.md @@ -1,21 +1,21 @@ -# Bitcoin Mining** +# Bitcoin Mining ⛏️ -### Creation and Circulation +#### 🔄 Creation and Circulation -Bitcoin mining is the process through which new Bitcoins enter circulation. This involves specialized computers, known as miners, solving puzzles to validate transactions on the Bitcoin network. Successful miners are rewarded with newly created Bitcoin. Every 10 minutes, a new block is added to the blockchain, and the reward is given to the miner who solved the puzzle. +Bitcoin mining is the process through which new Bitcoins enter circulation. This involves specialized computers, known as miners, solving puzzles to validate transactions on the Bitcoin network. Successful miners are rewarded with newly created Bitcoin. Every 10 minutes, a new block is added to the blockchain, and the reward is given to the miner who solved the puzzle. ⏱️ -Initially, the reward was 50 BTC per block, but it halves every four years in an event called the **halving**. Currently, the reward is 6.25 BTC per block, and it will continue to decrease until Bitcoin's total supply reaches 21 million. +Initially, the reward was 50 BTC per block, but it halves every four years in an event called the **halving**. Currently, the reward is 6.25 BTC per block, and it will continue to decrease until Bitcoin's total supply reaches 21 million. 📉 -### Proof of Work (PoW) and Mining Difficulty +#### 🧮 Proof of Work (PoW) and Mining Difficulty -Bitcoin operates on a system called **Proof of Work (PoW)**, where miners compete to solve puzzles that require immense computational power. The more miners compete, the harder the puzzles become. The difficulty adjusts every two weeks to maintain a steady flow of new blocks, regardless of how much computing power is added. +Bitcoin operates on a system called **Proof of Work (PoW)**, where miners compete to solve puzzles that require immense computational power. The more miners compete, the harder the puzzles become. The difficulty adjusts every two weeks to maintain a steady flow of new blocks, regardless of how much computing power is added. 💻 -To give an idea of the scale: Bitcoin’s network now processes such an enormous amount of computing power that it surpasses even the world's most powerful supercomputers. The computing power behind Bitcoin is greater than anything humanity has built, illustrating the sheer size and security of the network. +To give an idea of the scale: Bitcoin's network now processes such an enormous amount of computing power that it surpasses even the world's most powerful supercomputers. The computing power behind Bitcoin is greater than anything humanity has built, illustrating the sheer size and security of the network. 🌐 -### Global Mining Efforts +#### 🌍 Global Mining Efforts -As Bitcoin grew in value, large-scale operations entered the mining space, from energy companies to governments. Mining is no longer limited to individuals but has evolved into an industrial-scale operation. In some countries, like the U.S. and Kazakhstan, Bitcoin mining is now seen as a strategic asset, with renewable energy sources and excess power being used to mine Bitcoin. The involvement of governments and corporations highlights Bitcoin’s global importance and shows how it has become intertwined with the energy industry. +As Bitcoin grew in value, large-scale operations entered the mining space, from energy companies to governments. Mining is no longer limited to individuals but has evolved into an industrial-scale operation. In some countries, like the U.S. and Kazakhstan, Bitcoin mining is now seen as a strategic asset, with renewable energy sources and excess power being used to mine Bitcoin. The involvement of governments and corporations highlights Bitcoin's global importance and shows how it has become intertwined with the energy industry. ⚡ -### Halving Events +#### ✂️ Halving Events -Approximately every four years, the reward miners receive for creating new Bitcoin is halved, a process known as a **halving event**. This limits the supply of new Bitcoin and is crucial to Bitcoin's deflationary nature. The first halving occurred in 2012, and the reward has since decreased from 50 BTC per block to the current 6.25 BTC. Halving events ensure that Bitcoin's supply remains scarce over time, increasing its potential value as new Bitcoin becomes harder to earn. \ No newline at end of file +Approximately every four years, the reward miners receive for creating new Bitcoin is halved, a process known as a **halving event**. This limits the supply of new Bitcoin and is crucial to Bitcoin's deflationary nature. The first halving occurred in 2012, and the reward has since decreased from 50 BTC per block to the current 6.25 BTC. Halving events ensure that Bitcoin's supply remains scarce over time, increasing its potential value as new Bitcoin becomes harder to earn. 📅 diff --git a/src/edu/ru/bitcoin/bitcoin-economics/economic-principles-of-bitcoin.md b/src/edu/ru/bitcoin/bitcoin-economics/economic-principles-of-bitcoin.md index d83971a..f72b756 100644 --- a/src/edu/ru/bitcoin/bitcoin-economics/economic-principles-of-bitcoin.md +++ b/src/edu/ru/bitcoin/bitcoin-economics/economic-principles-of-bitcoin.md @@ -1,9 +1,9 @@ -# Economic Principles of Bitcoin +# Economic Principles of Bitcoin 📊 -### Supply and Demand Dynamics +#### 📈 Supply and Demand Dynamics -Bitcoin operates under basic economic principles: as demand increases and supply remains fixed, the price rises. Unlike traditional assets like **gold**, where higher prices encourage more production, Bitcoin’s supply cannot be increased no matter how high the price goes. This unique feature, where **supply is fixed (and actually decreasing with every halving)**, gives Bitcoin the potential for rapid price increases (often referred to as **parabolic price growth**) when demand surges. As fewer new Bitcoins enter circulation after each halving, the scarcity grows, further driving demand. This scarcity, combined with rising interest, has the potential to drive Bitcoin’s price significantly higher over time. +Bitcoin operates under basic economic principles: as demand increases and supply remains fixed, the price rises. Unlike traditional assets like **gold**, where higher prices encourage more production, Bitcoin's supply cannot be increased no matter how high the price goes. This unique feature, where **supply is fixed (and actually decreasing with every halving)**, gives Bitcoin the potential for rapid price increases (often referred to as **parabolic price growth**) when demand surges. As fewer new Bitcoins enter circulation after each halving, the scarcity grows, further driving demand. This scarcity, combined with rising interest, has the potential to drive Bitcoin's price significantly higher over time. 🚀 -### Bitcoin vs. Traditional Assets +#### 🆚 Bitcoin vs. Traditional Assets -Bitcoin is often compared to traditional assets like gold or fiat currencies. Like gold, Bitcoin is considered a store of value because of its scarcity. However, unlike gold, Bitcoin can be easily transferred and traded across borders, making it more flexible. In contrast to fiat currencies, which can be printed by governments and are vulnerable to inflation, Bitcoin has a fixed supply, making it resistant to inflation. Its decentralized nature also ensures it operates outside of government control, giving it unique advantages in the modern financial world. \ No newline at end of file +Bitcoin is often compared to traditional assets like gold or fiat currencies. Like gold, Bitcoin is considered a store of value because of its scarcity. However, unlike gold, Bitcoin can be easily transferred and traded across borders, making it more flexible. In contrast to fiat currencies, which can be printed by governments and are vulnerable to inflation, Bitcoin has a fixed supply, making it resistant to inflation. Its decentralized nature also ensures it operates outside of government control, giving it unique advantages in the modern financial world. 💼 \ No newline at end of file diff --git a/src/edu/ru/bitcoin/bitcoin-network/decentralization-and-security.md b/src/edu/ru/bitcoin/bitcoin-network/decentralization-and-security.md index 7030526..92b3423 100644 --- a/src/edu/ru/bitcoin/bitcoin-network/decentralization-and-security.md +++ b/src/edu/ru/bitcoin/bitcoin-network/decentralization-and-security.md @@ -1,13 +1,13 @@ -# Decentralization and Security +# Decentralization and Security 🔒 -### Open Participation +#### 🚪 Open Participation -One of the key features of the Bitcoin network is that it is open to anyone who wants to participate. Unlike traditional financial systems, which often require permission or special access, anyone with an internet connection and a computer can join the Bitcoin network. You can choose to run a full node, validating transactions and maintaining a copy of the blockchain, or you can simply use a wallet to send and receive Bitcoin. This openness ensures that Bitcoin remains decentralized. No government, corporation, or central bank controls the network. The rules of Bitcoin are enforced equally for all participants, whether they are running nodes, mining, or using the network to transfer value. +One of the key features of the Bitcoin network is that it is **open to anyone** who wants to participate. Unlike traditional financial systems, which often require permission or special access, anyone with an internet connection and a computer can join the Bitcoin network. You can choose to run a full node, validating transactions and maintaining a copy of the blockchain, or you can simply use a wallet to send and receive Bitcoin. This openness ensures that Bitcoin remains decentralized. No government, corporation, or central bank controls the network. The rules of Bitcoin are enforced equally for all participants, whether they are running nodes, mining, or using the network to transfer value. 🌐👥 -### Public Development Process +#### 👨‍💻👩‍💻 Public Development Process -The development of Bitcoin is also decentralized and fully transparent. There is no central authority deciding how Bitcoin evolves. Instead, improvements and updates are proposed by the community through a process known as **Bitcoin Improvement Proposals (BIPs)**. These proposals are reviewed, discussed, and debated by developers all over the world. Once a proposal is agreed upon by a majority of the network’s participants, it is implemented in the Bitcoin code. This ensures that Bitcoin remains secure and up-to-date, without being controlled by a single organization. The fact that anyone can contribute to Bitcoin’s development process is a key part of its decentralization and longevity. +The development of Bitcoin is also decentralized and fully transparent. There is no central authority deciding how Bitcoin evolves. Instead, improvements and updates are proposed by the community through a process known as **Bitcoin Improvement Proposals (BIPs)**. These proposals are reviewed, discussed, and debated by developers all over the world. Once a proposal is agreed upon by a majority of the network's participants, it is implemented in the Bitcoin code. This ensures that Bitcoin remains secure and up-to-date, without being controlled by a single organization. The fact that anyone can contribute to Bitcoin's development process is a key part of its decentralization and longevity. 🔧🌟 -### Absence of Central Authority +#### 🚫🏛️ Absence of Central Authority -Unlike traditional currencies or financial systems that are controlled by central banks or governments, Bitcoin operates without any central authority. This is one of its most defining characteristics. The Bitcoin network is maintained by a decentralized group of participants (nodes and miners) who collectively enforce the network’s rules. This decentralization ensures that no single entity can manipulate or shut down the Bitcoin network. Even if one government or organization tries to block Bitcoin, the network will continue to operate elsewhere, as long as there are nodes and miners keeping the system running. This absence of a central authority makes Bitcoin resilient to censorship and government control. \ No newline at end of file +Unlike traditional currencies or financial systems that are controlled by central banks or governments, Bitcoin operates **without any central authority**. This is one of its most defining characteristics. The Bitcoin network is maintained by a decentralized group of participants (nodes and miners) who collectively enforce the network's rules. This decentralization ensures that no single entity can manipulate or shut down the Bitcoin network. Even if one government or organization tries to block Bitcoin, the network will continue to operate elsewhere, as long as there are nodes and miners keeping the system running. This absence of a central authority makes Bitcoin resilient to censorship and government control. 🌐🛡️ diff --git a/src/edu/ru/bitcoin/bitcoin-network/is-bitcoin-stoppable.md b/src/edu/ru/bitcoin/bitcoin-network/is-bitcoin-stoppable.md index ab042a9..cb28f7c 100644 --- a/src/edu/ru/bitcoin/bitcoin-network/is-bitcoin-stoppable.md +++ b/src/edu/ru/bitcoin/bitcoin-network/is-bitcoin-stoppable.md @@ -1,13 +1,13 @@ -# Is Bitcoin Stoppable? +# Is Bitcoin Stoppable? 🛑 -### Government Influence +#### 🏛️ Government Influence -There has been much debate about whether governments can stop Bitcoin. While governments can impose regulations and make it difficult for users to participate in the network, they cannot stop Bitcoin from operating. Bitcoin is decentralized, meaning that even if one country tries to ban it, the network will continue to run in other parts of the world. Governments can make it difficult for people to convert Bitcoin to their local currencies or regulate exchanges, but they cannot prevent people from using Bitcoin entirely. As long as people have access to the internet and the Bitcoin network, Bitcoin will continue to operate. +There has been much debate about whether governments can stop Bitcoin. While governments can impose regulations and make it difficult for users to participate in the network, they **cannot stop Bitcoin from operating**. Bitcoin is decentralized, meaning that even if one country tries to ban it, the network will continue to run in other parts of the world. Governments can make it difficult for people to convert Bitcoin to their local currencies or regulate exchanges, but they cannot prevent people from using Bitcoin entirely. As long as people have access to the internet and the Bitcoin network, Bitcoin will continue to operate. 🌍🔒 -### Technical Resilience +#### 💪 Technical Resilience -Bitcoin’s resilience comes from its decentralized structure. The network is distributed across thousands of nodes worldwide, making it nearly impossible to shut down. For Bitcoin to stop functioning, all nodes and miners would have to go offline simultaneously, which is highly unlikely. Even if some nodes or miners go offline, the network can still function with the remaining participants. This level of resilience makes Bitcoin one of the most secure and reliable networks in existence. As long as people have access to electricity and the internet, the Bitcoin network will continue to run. Its decentralized nature also makes it resistant to attacks, as no single point of failure can bring down the entire network. +Bitcoin's resilience comes from its **decentralized structure**. The network is distributed across thousands of nodes worldwide, making it nearly impossible to shut down. For Bitcoin to stop functioning, all nodes and miners would have to go offline simultaneously, which is highly unlikely. Even if some nodes or miners go offline, the network can still function with the remaining participants. This level of resilience makes Bitcoin one of the most secure and reliable networks in existence. As long as people have access to electricity and the internet, the Bitcoin network will continue to run. Its decentralized nature also makes it resistant to attacks, as no single point of failure can bring down the entire network. 🔌🌐 -### User Adoption and Value +#### 📈 User Adoption and Value -The value of the Bitcoin network is directly tied to its users. The more people who use Bitcoin, the more valuable and secure the network becomes. As adoption grows, so does the demand for Bitcoin, which in turn drives its price higher. For Bitcoin to lose its value, people would have to stop using it altogether, which is highly unlikely given its global appeal and use cases. The network’s value is not controlled by any government or organization but is instead driven by the collective actions of its users. As long as people continue to use Bitcoin, the network will remain valuable and secure. \ No newline at end of file +The value of the Bitcoin network is directly tied to its users. The more people who use Bitcoin, the more valuable and secure the network becomes. As adoption grows, so does the demand for Bitcoin, which in turn drives its price higher. For Bitcoin to lose its value, people would have to stop using it altogether, which is highly unlikely given its global appeal and use cases. The network's value is not controlled by any government or organization but is instead driven by the collective actions of its users. As long as people continue to use Bitcoin, the network will remain valuable and secure. 👥💹 diff --git a/src/edu/ru/bitcoin/bitcoin-network/the-bitcoin-network-structure.md b/src/edu/ru/bitcoin/bitcoin-network/the-bitcoin-network-structure.md index 4acdbe2..3db2dc3 100644 --- a/src/edu/ru/bitcoin/bitcoin-network/the-bitcoin-network-structure.md +++ b/src/edu/ru/bitcoin/bitcoin-network/the-bitcoin-network-structure.md @@ -1,9 +1,9 @@ -# The Bitcoin Network Structure +# The Bitcoin Network Structure 🏗️ -### Network Nodes +#### 🖥️ Network Nodes -At the heart of the Bitcoin network are **nodes**. A node is any computer running the Bitcoin software, and its job is to help maintain the integrity of the network. Every node stores a complete copy of the Bitcoin blockchain, meaning it holds a record of every transaction ever made. Nodes communicate with each other to verify transactions and ensure that the network runs smoothly. When a transaction is made, it is broadcast to all nodes. These nodes validate the transaction by checking the user’s balance and ensuring the rules of the network are followed. Once verified, the transaction is added to a pool of unconfirmed transactions, awaiting confirmation by miners. The fact that anyone can run a node ensures that Bitcoin remains decentralized—no single entity controls the network. +At the heart of the Bitcoin network are **nodes**. A node is any computer running the Bitcoin software, and its job is to help maintain the integrity of the network. Every node stores a complete copy of the Bitcoin blockchain, meaning it holds a record of every transaction ever made. Nodes communicate with each other to verify transactions and ensure that the network runs smoothly. When a transaction is made, it is broadcast to all nodes. These nodes validate the transaction by checking the user's balance and ensuring the rules of the network are followed. Once verified, the transaction is added to a pool of unconfirmed transactions, awaiting confirmation by miners. The fact that anyone can run a node ensures that Bitcoin remains decentralized—no single entity controls the network. 🔗📡 -### Miners and Mining Nodes +#### ⛏️ Miners and Mining Nodes -**Mining nodes**, or miners, play a special role in the Bitcoin network. In addition to storing a copy of the blockchain and validating transactions like regular nodes, miners are responsible for grouping transactions into **blocks** and adding them to the blockchain. To do this, they must solve complex mathematical puzzles, which requires significant computational power. This process is known as **Proof of Work (PoW)**. When a miner successfully solves the puzzle, they create a new block and are rewarded with freshly minted Bitcoin, along with the transaction fees from the transactions included in that block. This process ensures that new Bitcoins are created in a decentralized manner and that transactions are permanently recorded on the blockchain. Mining not only adds new blocks to the chain but also keeps the network secure by making it difficult for any single entity to take control. \ No newline at end of file +**Mining nodes**, or miners, play a special role in the Bitcoin network. In addition to storing a copy of the blockchain and validating transactions like regular nodes, miners are responsible for grouping transactions into **blocks** and adding them to the blockchain. To do this, they must solve complex mathematical puzzles, which requires significant computational power. This process is known as **Proof of Work (PoW)**. When a miner successfully solves the puzzle, they create a new block and are rewarded with freshly minted Bitcoin, along with the transaction fees from the transactions included in that block. This process ensures that new Bitcoins are created in a decentralized manner and that transactions are permanently recorded on the blockchain. Mining not only adds new blocks to the chain but also keeps the network secure by making it difficult for any single entity to take control. 🧮💻 \ No newline at end of file diff --git a/src/edu/ru/bitcoin/bitcoin-ownership/acquiting-bitcoin.md b/src/edu/ru/bitcoin/bitcoin-ownership/acquiting-bitcoin.md index e97611f..875244a 100644 --- a/src/edu/ru/bitcoin/bitcoin-ownership/acquiting-bitcoin.md +++ b/src/edu/ru/bitcoin/bitcoin-ownership/acquiting-bitcoin.md @@ -1,9 +1,9 @@ -# Acquiring Bitcoin +# Acquiring Bitcoin 💰 -Acquiring Bitcoin involves several steps, and the most common way is through centralized cryptocurrency exchanges like Binance, Coinbase, or Kraken. On these platforms, users deposit fiat currency, such as USD or EUR, purchase Bitcoin, and transfer it to their wallets. The process is straightforward when you have access to these exchanges. However, challenges arise when traditional banking systems block transfers to these exchanges. +Acquiring Bitcoin involves several steps, and the most common way is through centralized cryptocurrency exchanges like Binance, Coinbase, or Kraken. On these platforms, users deposit fiat currency, such as USD or EUR, purchase Bitcoin, and transfer it to their wallets. The process is straightforward when you have access to these exchanges. However, challenges arise when traditional banking systems block transfers to these exchanges. 🏦🚫 -If your bank blocks transfers to cryptocurrency exchanges, users often turn to stablecoin issuers like Tether Limited. Stablecoins such as USDT, which are pegged to fiat currencies, can be purchased directly from the issuer or through intermediaries. For large sums (typically over $100,000), stablecoins are then exchanged for Bitcoin on centralized exchanges. But even this method can be restricted by banks, making it essential to understand the legal and banking landscape before proceeding. +If your bank blocks transfers to cryptocurrency exchanges, users often turn to stablecoin issuers like Tether Limited. Stablecoins such as USDT, which are pegged to fiat currencies, can be purchased directly from the issuer or through intermediaries. For large sums (typically over $100,000), stablecoins are then exchanged for Bitcoin on centralized exchanges. But even this method can be restricted by banks, making it essential to understand the legal and banking landscape before proceeding. 🔄💱 -In regions without access to centralized exchanges, users may turn to physical cryptocurrency exchange bureaus where available or attempt in-person transactions with trusted individuals. However, in-person exchanges come with risks, such as fraud or theft. +In regions without access to centralized exchanges, users may turn to physical cryptocurrency exchange bureaus where available or attempt in-person transactions with trusted individuals. However, in-person exchanges come with risks, such as fraud or theft. 🏪🤝 -An alternative method for those who cannot directly acquire Bitcoin but want price exposure is through Bitcoin ETFs. ETFs (Exchange-Traded Funds) allow you to benefit from the price movements of Bitcoin without actually owning it. This option comes with several trade-offs, such as custodial risks, fees, and a reliance on traditional brokers like Interactive Brokers. Importantly, since you don’t own the underlying Bitcoin, you don’t have control over it, making ETFs less appealing for those who value sovereignty. \ No newline at end of file +An alternative method for those who cannot directly acquire Bitcoin but want price exposure is through Bitcoin ETFs. ETFs (Exchange-Traded Funds) allow you to benefit from the price movements of Bitcoin without actually owning it. This option comes with several trade-offs, such as custodial risks, fees, and a reliance on traditional brokers like Interactive Brokers. Importantly, since you don't own the underlying Bitcoin, you don't have control over it, making ETFs less appealing for those who value sovereignty. 📊📈 diff --git a/src/edu/ru/bitcoin/bitcoin-ownership/choosing-the-right-wallet.md b/src/edu/ru/bitcoin/bitcoin-ownership/choosing-the-right-wallet.md index 284f9c4..8c2b708 100644 --- a/src/edu/ru/bitcoin/bitcoin-ownership/choosing-the-right-wallet.md +++ b/src/edu/ru/bitcoin/bitcoin-ownership/choosing-the-right-wallet.md @@ -1,14 +1,20 @@ -# Choosing the Right Wallet +# Choosing the Right Wallet 👛 -When it comes to choosing a non-custodial wallet, you need to balance **security**, **convenience**, and **practicality**. If maximum security is your priority, hardware wallets such as **Ledger** or **Trezor** provide offline storage, making them more secure against online threats. +When it comes to choosing a non-custodial wallet, you need to balance **security**, **convenience**, and **practicality**. If maximum security is your priority, hardware wallets such as **Ledger** or **Trezor** provide offline storage, making them more secure against online threats. 🔒🖥️ However, there are a few factors to consider with hardware wallets: -- **Setup Complexity**: Hardware wallets can be complicated to set up and may not be beginner-friendly. -- **Security Breaches**: Some hardware wallet vendors have had data breaches, revealing users’ personal information, making them vulnerable to targeted attacks. -- **Inconvenience for Daily Use**: Hardware wallets are not ideal for frequent transactions because they need to be plugged in and verified for every action. -- **Storage Risks**: You must keep your hardware wallet secure and store the private key backup separately(which kind of negates its advantages). +- **Setup Complexity**: Hardware wallets can be complicated to set up and may not be beginner-friendly. 🧩 -For frequent transactions, non-custodial mobile wallet apps, such as **Unstoppable Wallet**, offer a more user-friendly experience. Mobile wallets often include additional security features like biometric authentication, built-in exchanges, and even **duress modes**—a feature where you can unlock a decoy wallet under threat. -Moreover, unlike hardware wallet devices mobile based wallet apps are easy to hide, both iOS and Android operating systems provide such capabilities. This combination of security and convenience makes mobile wallets more practical for everyday use. \ No newline at end of file +- **Security Breaches**: Some hardware wallet vendors have had data breaches, revealing users' personal information, making them vulnerable to targeted attacks. 🚨 + + +- **Inconvenience for Daily Use**: Hardware wallets are not ideal for frequent transactions because they need to be plugged in and verified for every action. 🔌 + + +- **Storage Risks**: You must keep your hardware wallet secure and store the private key backup separately(which kind of negates its advantages). 🏦 + +For frequent transactions, non-custodial mobile wallet apps, such as **Unstoppable Wallet**, offer a more user-friendly experience. Mobile wallets often include additional security features like biometric authentication, built-in exchanges, and even **duress modes**—a feature where you can unlock a decoy wallet under threat. 📱👆 + +Moreover, unlike hardware wallet devices mobile based wallet apps are easy to hide, both iOS and Android operating systems provide such capabilities. This combination of security and convenience makes mobile wallets more practical for everyday use. 🔐📲 diff --git a/src/edu/ru/bitcoin/bitcoin-ownership/custodial-vs-non-custodial-wallets.md b/src/edu/ru/bitcoin/bitcoin-ownership/custodial-vs-non-custodial-wallets.md deleted file mode 100644 index f07a7a2..0000000 --- a/src/edu/ru/bitcoin/bitcoin-ownership/custodial-vs-non-custodial-wallets.md +++ /dev/null @@ -1,15 +0,0 @@ -# Custodial vs. Non-Custodial Wallets - -The key difference between **custodial** and **non-custodial wallets** lies in who controls the private keys. With custodial wallets, such as those on centralized exchanges, the platform holds your private keys, which means you don’t have full control over your Bitcoin. It's similar to how a bank manages your money—your access can be restricted or frozen at any time. - -For example, even though it’s legal to own Bitcoin in most countries, many banks may block transfers to cryptocurrency exchanges. So, while your funds are technically yours, you’re still at the mercy of intermediaries. - -By contrast, non-custodial wallets place the private keys in your hands, offering you true ownership and full control of your Bitcoin. Non-custodial wallets have become essential for users who want to avoid the risks associated with relying on exchanges or intermediaries. A clear lesson from past exchange hacks, like the Mt. Gox incident, is that trusting third parties with your Bitcoin can result in losses. Self-custody removes that risk. - ---- - -### Private Keys and Mnemonic Phrases (Seed Phrases) - -Understanding private keys and seed phrases (mnemonic phrases) are critical to securing your Bitcoin. When you set up a new non-custodial wallet, you’re presented with a private key. To make storing and managing this key easier, the wallet generates a **mnemonic phrase**—a human-readable, 12-word phrase that acts as a backup to your private key. - -Think of your private key as the password to access and spend your Bitcoin, while the mnemonic phrase is a backup that lets you recover your wallet if something happens to your device. If you lose access to your private key or mnemonic phrase, you lose access to your Bitcoin forever. For example, there are many cases of early Bitcoin adopters losing their wallets because they didn’t store their private keys properly, resulting in millions of dollars in lost assets. \ No newline at end of file diff --git a/src/edu/ru/bitcoin/bitcoin-ownership/securing-your-bitcoin-wallet.md b/src/edu/ru/bitcoin/bitcoin-ownership/securing-your-bitcoin-wallet.md index 31ced82..ab029c1 100644 --- a/src/edu/ru/bitcoin/bitcoin-ownership/securing-your-bitcoin-wallet.md +++ b/src/edu/ru/bitcoin/bitcoin-ownership/securing-your-bitcoin-wallet.md @@ -1,50 +1,49 @@ -# Securing Your Bitcoin Wallet +# Securing Your Bitcoin Wallet 🔒 -To ensure the safety of your Bitcoin, it’s essential to understand how to properly secure your wallet and its backups. Following best practices can prevent the loss of your funds and protect against external threats. +To ensure the safety of your Bitcoin, it's essential to understand how to properly secure your wallet and its backups. Following best practices can prevent the loss of your funds and protect against external threats. 🛡️ --- -### Educating Yourself on Bitcoin Security +#### 📚 Educating Yourself on Bitcoin Security -The first step to securing your Bitcoin is learning how Bitcoin wallets, private keys, and transactions function. With knowledge, you can make informed decisions to avoid pitfalls such as phishing attacks or poor wallet management. +The first step to securing your Bitcoin is learning how Bitcoin wallets, private keys, and transactions function. With knowledge, you can make informed decisions to avoid pitfalls such as phishing attacks or poor wallet management. 🧠 --- -### Understanding Wallet Backups +#### 💾 Understanding Wallet Backups -Backups are critical to Bitcoin security. If you lose access to your wallet (due to device loss or failure), having a backup ensures you can still access your funds. Regularly back up your wallet, and always store your seed phrase securely. A common practice is writing the seed phrase down and storing it in a fireproof safe or using metal plates designed to withstand damage. +Backups are critical to Bitcoin security. If you lose access to your wallet (due to device loss or failure), having a backup ensures you can still access your funds. Regularly back up your wallet, and always store your seed phrase securely. A common practice is writing the seed phrase down and storing it in a fireproof safe or using metal plates designed to withstand damage. 🔥🏦 -If your seed phrase is compromised, someone can gain full access to your Bitcoin, so never share it with anyone. +If your seed phrase is compromised, someone can gain full access to your Bitcoin, so never share it with anyone. 🤐 --- -### Being Discreet +#### 🕵 Being Discreet -Owning Bitcoin comes with its risks, especially if people know you have it. To reduce the chance of being targeted by thieves or fraudsters, keep your Bitcoin ownership private. If you use a hardware wallet, avoid carrying it around openly, and consider using wallets with duress modes to create decoy wallets in case of emergency. +Owning Bitcoin comes with its risks, especially if people know you have it. To reduce the chance of being targeted by thieves or fraudsters, keep your Bitcoin ownership private. If you use a hardware wallet, avoid carrying it around openly, and consider using wallets with duress modes to create decoy wallets in case of emergency. 🤫 --- -### Avoiding Custodial Platforms +#### 🚫 Avoiding Custodial Platforms -As convenient as they may seem, custodial platforms like exchanges come with significant risks. When you store your Bitcoin on a platform like Binance or Coinbase, you don’t control the private keys—meaning you don’t truly own your Bitcoin. Exchange collapses, like the infamous **FTX crash**, highlight the dangers of trusting third parties with your assets. Once an exchange fails or gets hacked, retrieving your Bitcoin can be nearly impossible. +As convenient as they may seem, custodial platforms like exchanges come with significant risks. When you store your Bitcoin on a platform like Binance or Coinbase, you don't control the private keys—meaning you don't truly own your Bitcoin. Exchange collapses, like the infamous **FTX crash**, highlight the dangers of trusting third parties with your assets. Once an exchange fails or gets hacked, retrieving your Bitcoin can be nearly impossible. 💥 --- -### Using Multiple Wallets +#### 👛👛 Using Multiple Wallets -A good strategy for securing your Bitcoin is to use multiple wallets. Keep the majority of your Bitcoin in a highly secure wallet for long-term storage and a separate wallet for everyday transactions. This way, if something happens to your regular-use wallet, your main stash remains secure. For example, use a hardware wallet for long-term holdings and a mobile wallet for daily spending. +A good strategy for securing your Bitcoin is to use multiple wallets. Keep the majority of your Bitcoin in a highly secure wallet for long-term storage and a separate wallet for everyday transactions. This way, if something happens to your regular-use wallet, your main stash remains secure. For example, use a hardware wallet for long-term holdings and a mobile wallet for daily spending. 📱💼 --- -### Duress Mode - -Using wallets with **duress mode** can protect you in emergencies. In threatening situations where someone forces you to open your wallet, duress mode allows you to unlock a decoy wallet with minimal funds, protecting your primary stash. +#### 🚨 Duress Mode +Using wallets with **duress mode** can protect you in emergencies. In threatening situations where someone forces you to open your wallet, duress mode allows you to unlock a decoy wallet with minimal funds, protecting your primary stash. 🎭 --- -### Security Best Practices +#### 🔐 Security Best Practices To protect your Bitcoin, follow these basic security tips: -- Never click on suspicious links in emails or messaging apps to avoid phishing attacks. -- Don’t browse unsafe websites, such as adult sites, on devices where your wallet is installed. \ No newline at end of file +- Never click on suspicious links in emails or messaging apps to avoid phishing attacks. 🎣 +- Don't browse unsafe websites, such as adult sites, on devices where your wallet is installed. 🚫🖥️ \ No newline at end of file diff --git a/src/edu/ru/bitcoin/bitcoin-ownership/what-is-self-custody.md b/src/edu/ru/bitcoin/bitcoin-ownership/what-is-self-custody.md index ab407d7..7d83e0c 100644 --- a/src/edu/ru/bitcoin/bitcoin-ownership/what-is-self-custody.md +++ b/src/edu/ru/bitcoin/bitcoin-ownership/what-is-self-custody.md @@ -1,5 +1,21 @@ -# What Is Self Custody? +# What Is Self Custody? 🔑 -Once you have acquired Bitcoin, transferring it to a non-custodial wallet is the next crucial step for securing your assets. Leaving Bitcoin on an exchange leaves it vulnerable to risks such as exchange hacks, insolvency, and governmental restrictions. The best way to take full control over your Bitcoin is through self-custody. +Once you have acquired Bitcoin, transferring it to a non-custodial wallet is the next crucial step for securing your assets. Leaving Bitcoin on an exchange leaves it vulnerable to risks such as exchange hacks, insolvency, and governmental restrictions. The best way to take full control over your Bitcoin is through self-custody. 💪 -**Self-custody** refers to holding your own private keys, meaning no intermediary controls your Bitcoin. This form of ownership offers unmatched sovereignty over your assets. Unlike traditional financial systems, where your funds can be frozen or seized, Bitcoin in a non-custodial wallet is censorship-resistant. No government or third party can freeze, confiscate, or debase your Bitcoin, giving you complete control over your wealth. \ No newline at end of file +**Self-custody** refers to holding your own private keys, meaning no intermediary controls your Bitcoin. This form of ownership offers unmatched sovereignty over your assets. Unlike traditional financial systems, where your funds can be frozen or seized, Bitcoin in a non-custodial wallet is censorship-resistant. No government or third party can freeze, confiscate, or debase your Bitcoin, giving you complete control over your wealth. 🛡️ + +#### 🔐 Custodial vs. Non-Custodial Wallets + +The key difference between **custodial** and **non-custodial wallets** lies in who controls the private keys. With custodial wallets, such as those on centralized exchanges, the platform holds your private keys, which means you don't have full control over your Bitcoin. It's similar to how a bank manages your money—your access can be restricted or frozen at any time. 🏦 + +For example, even though it's legal to own Bitcoin in most countries, many banks may block transfers to cryptocurrency exchanges. So, while your funds are technically yours, you're still at the mercy of intermediaries. 🚫 + +By contrast, non-custodial wallets place the private keys in your hands, offering you true ownership and full control of your Bitcoin. Non-custodial wallets have become essential for users who want to avoid the risks associated with relying on exchanges or intermediaries. A clear lesson from past exchange hacks, like the Mt. Gox incident, is that trusting third parties with your Bitcoin can result in losses. Self-custody removes that risk. 🔐 + +--- + +#### 🗝️ Private Keys and Mnemonic Phrases (Seed Phrases) + +Understanding private keys and seed phrases (mnemonic phrases) are critical to securing your Bitcoin. When you set up a new non-custodial wallet, you're presented with a private key. To make storing and managing this key easier, the wallet generates a **mnemonic phrase**—a human-readable, 12-word phrase that acts as a backup to your private key. 📝 + +Think of your private key as the password to access and spend your Bitcoin, while the mnemonic phrase is a backup that lets you recover your wallet if something happens to your device. If you lose access to your private key or mnemonic phrase, you lose access to your Bitcoin forever. For example, there are many cases of early Bitcoin adopters losing their wallets because they didn't store their private keys properly, resulting in millions of dollars in lost assets. 💸 diff --git a/src/edu/ru/bitcoin/bitcoin-transactions/advanced-transaction-concepts.md b/src/edu/ru/bitcoin/bitcoin-transactions/advanced-transaction-concepts.md index bb9e161..f3464dc 100644 --- a/src/edu/ru/bitcoin/bitcoin-transactions/advanced-transaction-concepts.md +++ b/src/edu/ru/bitcoin/bitcoin-transactions/advanced-transaction-concepts.md @@ -1,33 +1,41 @@ -# Advanced Transaction Concepts +# Advanced Transaction Concepts 🧠💼 -### Unspent Transaction Outputs (UTXOs) +#### 🧾 Unspent Transaction Outputs (UTXOs) -Bitcoin uses a UTXO model instead of an account-based model. Here’s a breakdown: +Bitcoin uses a UTXO model instead of an account-based model. Here's a breakdown: -- Think of UTXOs like individual coins or bills in your physical wallet. -- Each UTXO represents a specific amount of Bitcoin that can be spent. -- When you receive Bitcoin, you're actually receiving one or more UTXOs. +- Think of UTXOs like individual coins or bills in your physical wallet. 💰 -### How UTXOs Work: + +- Each UTXO represents a specific amount of Bitcoin that can be spent. 🪙 -- When you make a transaction, you’re spending one or more UTXOs. -- The transaction creates new UTXOs for the recipients. -- Any leftover amount (change) becomes a new UTXO for you. + +- When you receive Bitcoin, you're actually receiving one or more UTXOs. 📥 + +#### How UTXOs Work: + +- When you make a transaction, you're spending one or more UTXOs. 💸 + + +- The transaction creates new UTXOs for the recipients. 🆕 + + +- Any leftover amount (change) becomes a new UTXO for you. 🔄 **Example:** -Let’s say you have two UTXOs: one worth 0.5 BTC and another worth 0.3 BTC. If you want to send 0.7 BTC to someone, you would use both UTXOs (totaling 0.8 BTC), create a new UTXO of 0.7 BTC for the recipient, and create a new UTXO of 0.1 BTC as change for yourself. +Let's say you have two UTXOs: one worth 0.5 BTC and another worth 0.3 BTC. If you want to send 0.7 BTC to someone, you would use both UTXOs (totaling 0.8 BTC), create a new UTXO of 0.7 BTC for the recipient, and create a new UTXO of 0.1 BTC as change for yourself. 🧮 -This UTXO system is more complex than a simple account balance but offers advantages in terms of security, privacy, and parallel processing of transactions. +This UTXO system is more complex than a simple account balance but offers advantages in terms of security, privacy, and parallel processing of transactions. 🛡️🕵️‍♀️ -### Replace-By-Fee (RBF) +#### 🔄💰 Replace-By-Fee (RBF) -Bitcoin allows modifying fees for unconfirmed transactions. A mechanism known as Replace-By-Fee (RBF) allows users to increase the fee on a pending Bitcoin transaction, ensuring faster confirmation during periods of network congestion. +Bitcoin allows modifying fees for unconfirmed transactions. A mechanism known as Replace-By-Fee (RBF) allows users to increase the fee on a pending Bitcoin transaction, ensuring faster confirmation during periods of network congestion. 🚀 -For instance, if someone needs to make a payment quickly but set the fee too low, they can use RBF to adjust the fee and expedite the transaction. +For instance, if someone needs to make a payment quickly but set the fee too low, they can use RBF to adjust the fee and expedite the transaction. ⏱️ -### Cancelling a Transaction +#### ❌ Cancelling a Transaction -While Bitcoin transactions can’t be directly canceled once broadcast, users can use RBF to modify the transaction and send it to themselves with a higher fee, effectively canceling the original transaction. +While Bitcoin transactions can't be directly canceled once broadcast, users can use RBF to modify the transaction and send it to themselves with a higher fee, effectively canceling the original transaction. 🔙 -For example, if someone accidentally sends Bitcoin to the wrong address and catches the mistake before confirmation, they can use RBF to adjust the transaction and redirect it. \ No newline at end of file +For example, if someone accidentally sends Bitcoin to the wrong address and catches the mistake before confirmation, they can use RBF to adjust the transaction and redirect it. 🎯 diff --git a/src/edu/ru/bitcoin/bitcoin-transactions/sending-and-receiving-bitcoin.md b/src/edu/ru/bitcoin/bitcoin-transactions/sending-and-receiving-bitcoin.md index 1c8287e..af711b6 100644 --- a/src/edu/ru/bitcoin/bitcoin-transactions/sending-and-receiving-bitcoin.md +++ b/src/edu/ru/bitcoin/bitcoin-transactions/sending-and-receiving-bitcoin.md @@ -1,11 +1,12 @@ -# Sending and Receiving Bitcoin +# Sending and Receiving Bitcoin 📤📥 -Non-custodial wallets provide the user with complete control over their private keys, enabling true ownership of their Bitcoin. Unlike custodial wallets, where a third party manages the private keys, non-custodial wallets allow users to transact on Bitcoin network directly. For example, after purchasing Bitcoin on a cryptocurrency exchange like Binance, users will often transfer it to a non-custodial wallet like Unstoppable Wallet to ensure full control and security. +Non-custodial wallets provide the user with complete control over their private keys, enabling true ownership of their Bitcoin. Unlike custodial wallets, where a third party manages the private keys, non-custodial wallets allow users to transact on Bitcoin network directly. For example, after purchasing Bitcoin on a cryptocurrency exchange like Binance, users will often transfer it to a non-custodial wallet like Unstoppable Wallet to ensure full control and security. 🔐 -# Deposit/Receive Addresses and QR Codes: +#### Deposit/Receive Addresses and QR Codes: 📇 -Every Bitcoin wallet has a unique deposit/receive address, which is a string of alphanumeric characters representing a Bitcoin address. To make transactions easier, most wallets allow users to share their address as a QR code, which can be scanned by others to initiate a transaction. For instance, if you're splitting a bill with a friend who wants to pay you in Bitcoin, they can scan the QR code of your wallet address and transfer funds easily. This is especially useful for merchants accepting Bitcoin payments. +Every Bitcoin wallet has a unique deposit/receive address, which is a string of alphanumeric characters representing a Bitcoin address. To make transactions easier, most wallets allow users to share their address as a QR code, which can be scanned by others to initiate a transaction. For instance, if you're splitting a bill with a friend who wants to pay you in Bitcoin, they can scan the QR code of your wallet address and transfer funds easily. This is especially useful for merchants accepting Bitcoin payments. 📸💳 -# Depositing/Withdrawing Bitcoin to/from an Exchange: +#### Depositing/Withdrawing Bitcoin to/from an Exchange: 🏦 + +Depositing Bitcoin from a non-custodial wallet to a cryptocurrency exchange is simple. You need to obtain the deposit address from the exchange, input it into your non-custodial wallet, and send the transaction. Similarly, withdrawing Bitcoin from a cryptocurrency exchange to a non-custodial wallet requires copying the Bitcoin address from the non-custodial wallet and pasting it into the exchange's withdrawal field. 🔁 -Depositing Bitcoin from a non-custodial wallet to a cryptocurrency exchange is simple. You need to obtain the deposit address from the exchange, input it into your non-custodial wallet, and send the transaction. Similarly, withdrawing Bitcoin from a cryptocurrency exchange to a non-custodial wallet requires copying the Bitcoin address from the non-custodial wallet and pasting it into the exchange’s withdrawal field. \ No newline at end of file diff --git a/src/edu/ru/bitcoin/bitcoin-transactions/transaction-confirmations-and-states.md b/src/edu/ru/bitcoin/bitcoin-transactions/transaction-confirmations-and-states.md index d3a1cde..5fe4bed 100644 --- a/src/edu/ru/bitcoin/bitcoin-transactions/transaction-confirmations-and-states.md +++ b/src/edu/ru/bitcoin/bitcoin-transactions/transaction-confirmations-and-states.md @@ -1,15 +1,20 @@ -# Transaction Confirmations and States +# Transaction Confirmations and States 🔍 -When a user sends a Bitcoin transaction from their wallet, the transaction is broadcast to the network. Within a few seconds, all miners on the network receive the transaction and attempt to include it in the blockchain along with other pending transactions. The first to solve the Proof-of-Work puzzle gets to include the transaction in the blockchain and collect the rewards, which include both the Bitcoin emission rate and all transaction fees from the current block of transactions. +When a user sends a Bitcoin transaction from their wallet, the transaction is broadcast to the network. Within a few seconds, all miners on the network receive the transaction and attempt to include it in the blockchain along with other pending transactions. The first to solve the Proof-of-Work puzzle gets to include the transaction in the blockchain and collect the rewards, which include both the Bitcoin emission rate and all transaction fees from the current block of transactions. ⛏️ -**Transaction States:** +#### **Transaction States:** -- **Pending:** Waiting for a miner to include it in a block. -- **Confirmed:** Once included in a block, the transaction is confirmed. -- **Failed:** Transactions can fail if the fee is too low or if there are network issues. +- **Pending:** Waiting for a miner to include it in a block. ⏳ -Finality means that once confirmed, a Bitcoin transaction cannot be reversed. For smaller payments, it's safe to consider the transaction complete once it's included in a block. For high-value transactions, typically six confirmations are recommended to ensure security against double-spending. -### Tracking Transaction Status: +- **Confirmed:** Once included in a block, the transaction is confirmed. ✅ + + +- **Failed:** Transactions can fail if the fee is too low or if there are network issues. ❌ + +Finality means that once confirmed, a Bitcoin transaction cannot be reversed. For smaller payments, it's safe to consider the transaction complete once it's included in a block. For high-value transactions, typically six confirmations are recommended to ensure security against double-spending. 🔒 + +#### Tracking Transaction Status: 🕵️‍♂️ + +Users can track their transactions using publicly available blockchain explorers like Blockchair.com. By entering the transaction ID (TXID), users can monitor the status of their Bitcoin transactions and see how many confirmations it has received. Most non-custodial wallets also provide transaction status updates, although there might be a slight delay compared to block explorers. 🔍 -Users can track their transactions using publicly available blockchain explorers like Blockchair.com. By entering the transaction ID (TXID), users can monitor the status of their Bitcoin transactions and see how many confirmations it has received. Most non-custodial wallets also provide transaction status updates, although there might be a slight delay compared to block explorers. \ No newline at end of file diff --git a/src/edu/ru/bitcoin/bitcoin-transactions/transaction-fee.md b/src/edu/ru/bitcoin/bitcoin-transactions/transaction-fee.md index 1c5f749..2be102b 100644 --- a/src/edu/ru/bitcoin/bitcoin-transactions/transaction-fee.md +++ b/src/edu/ru/bitcoin/bitcoin-transactions/transaction-fee.md @@ -1,9 +1,9 @@ -# Transaction Fees +# Transaction Fees 💸 -Whenever you send Bitcoin, a fee is required. The fee is not paid to the wallet provider but paid to the Bitcoin miner that includes your transaction in the next blockchain block. Fees are dynamic and vary based on network congestion and the size of your transaction. The size of the transaction is not the amount/Bitcoin transacted but the amount of space transaction data will occupy in the block. During times of high demand, when many users are transacting, fees may spike significantly, so users may have to wait for lower fees or pay a premium for a faster transaction. +Whenever you send Bitcoin, a fee is required. The fee is not paid to the wallet provider but paid to the Bitcoin miner that includes your transaction in the next blockchain block. Fees are dynamic and vary based on network congestion and the size of your transaction. The size of the transaction is not the amount/Bitcoin transacted but the amount of space transaction data will occupy in the block. During times of high demand, when many users are transacting, fees may spike significantly, so users may have to wait for lower fees or pay a premium for a faster transaction. 📊 -### Fee Calculation: +#### Fee Calculation: 🧮 -Transaction fees are calculated based on the size of the transaction (measured in bytes) and the current fee rate, which is determined by network congestion. For example, a transaction of a single Bitcoin will have a smaller fee if it uses just 1-2 large inputs compared to a transaction that uses many small inputs, even if the value transferred is the same. An input is basically a value from a previous transaction. For instance, if someone sends you 1 BTC transaction today, then you will have an input of 1 BTC. If you need to send someone 0.5 BTC, that single input will be sufficient. However, should you need to send over 1 BTC, multiple inputs will be required, leading to larger transaction size and higher fees. +Transaction fees are calculated based on the size of the transaction (measured in bytes) and the current fee rate, which is determined by network congestion. For example, a transaction of a single Bitcoin will have a smaller fee if it uses just 1-2 large inputs compared to a transaction that uses many small inputs, even if the value transferred is the same. An input is basically a value from a previous transaction. For instance, if someone sends you 1 BTC transaction today, then you will have an input of 1 BTC. If you need to send someone 0.5 BTC, that single input will be sufficient. However, should you need to send over 1 BTC, multiple inputs will be required, leading to larger transaction size and higher fees. 📏💰 -Well-engineered non-custodial wallets should allow users to customize their transaction fees, offering options to choose between fast, medium, or slow confirmation times based on urgency and cost. For example, if someone is purchasing coffee using Bitcoin, they can opt for a lower fee if they’re not in a rush, while a trader might need a faster transaction and choose a higher fee. \ No newline at end of file +Well-engineered non-custodial wallets should allow users to customize their transaction fees, offering options to choose between fast, medium, or slow confirmation times based on urgency and cost. For example, if someone is purchasing coffee using Bitcoin, they can opt for a lower fee if they're not in a rush, while a trader might need a faster transaction and choose a higher fee. ⚡☕️ \ No newline at end of file diff --git a/src/edu/ru/bitcoin/intro/bitcoin-origins.md b/src/edu/ru/bitcoin/intro/bitcoin-origins.md index 238ad94..91c4914 100644 --- a/src/edu/ru/bitcoin/intro/bitcoin-origins.md +++ b/src/edu/ru/bitcoin/intro/bitcoin-origins.md @@ -1,13 +1,13 @@ -### Bitcoin Origins +# Bitcoin Origins 🌱 -### The Creation of Bitcoin +#### The Creation of Bitcoin 🛠️ -Bitcoin was created in 2008 by an anonymous person (or group) using the pseudonym **Satoshi Nakamoto**. Satoshi's goal was to solve a key problem: creating a system where value could be transferred peer-to-peer without relying on centralized intermediaries like banks. This system would allow users to exchange value (Bitcoin) directly, with no need for a middleman. +Bitcoin was created in 2008 by an anonymous person (or group) using the pseudonym **Satoshi Nakamoto**. 🕵️‍♂️ Satoshi's goal was to solve a key problem: creating a system where value could be transferred peer-to-peer without relying on centralized intermediaries like banks. This system would allow users to exchange value (Bitcoin) directly, with no need for a middleman. 🔁 -Satoshi outlined this idea in a **whitepaper** titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” which was shared with a group of cryptographers and developers, known as **cypherpunks**. Shortly after, Satoshi released the software that powered the **Bitcoin blockchain**, launching the world’s first decentralized cryptocurrency. The blockchain started processing transactions and continues to run to this day without any central authority controlling it. +Satoshi outlined this idea in a **whitepaper** titled "Bitcoin: A Peer-to-Peer Electronic Cash System," which was shared with a group of cryptographers and developers, known as **cypherpunks**. 📄 Shortly after, Satoshi released the software that powered the **Bitcoin blockchain**, launching the world's first decentralized cryptocurrency. The blockchain started processing transactions and continues to run to this day without any central authority controlling it. 🔗 -### Launch of the Bitcoin Network +#### Launch of the Bitcoin Network 🚀 -The Bitcoin network officially launched on **January 3, 2009**, when the **Genesis Block** (the first block in the blockchain) was mined. This block contained a message, "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," which highlighted the financial instability that inspired Bitcoin’s creation. +The Bitcoin network officially launched on **January 3, 2009**, when the **Genesis Block** (the first block in the blockchain) was mined. 🏆 This block contained a message, "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," which highlighted the financial instability that inspired Bitcoin's creation. 💬 -Bitcoin’s blockchain started operating as an open, decentralized network, allowing people to join as participants. Each participant could either run a **node** (which helps validate transactions) or use a **wallet** (to send and receive Bitcoin). Since its launch, Bitcoin has been accessible to anyone with an internet connection, operating 24/7, and enforcing the same rules for every participant. \ No newline at end of file +Bitcoin's blockchain started operating as an open, decentralized network, allowing people to join as participants. Each participant could either run a **node** (which helps validate transactions) or use a **wallet** (to send and receive Bitcoin). Since its launch, Bitcoin has been accessible to anyone with an internet connection, operating 24/7, and enforcing the same rules for every participant. 🌐 diff --git a/src/edu/ru/bitcoin/intro/the-rise-of-bitcoin.md b/src/edu/ru/bitcoin/intro/the-rise-of-bitcoin.md index a6a1a92..af32ffe 100644 --- a/src/edu/ru/bitcoin/intro/the-rise-of-bitcoin.md +++ b/src/edu/ru/bitcoin/intro/the-rise-of-bitcoin.md @@ -1,13 +1,13 @@ -### The Rise of Bitcoin +# The Rise of Bitcoin 📈 -### Early Perceptions +#### Early Perceptions 🤔 -In its early days, Bitcoin was largely dismissed by mainstream society. It was seen as a novelty—a toy for computer geeks and cypherpunks. Very few people believed that it could become a widely-used form of money, let alone challenge the existing financial system. As a result, Bitcoin had little to no market value in its infancy. Early adopters traded it for fun, often giving away large sums for things like pizza or internet services. +In its early days, Bitcoin was largely dismissed by mainstream society. It was seen as a novelty—a toy for computer geeks and cypherpunks. Very few people believed that it could become a widely-used form of money, let alone challenge the existing financial system. As a result, Bitcoin had little to no market value in its infancy. Early adopters traded it for fun, often giving away large sums for things like pizza or internet services. 🍕 -### Growth Factors +#### Growth Factors 🌱 -Bitcoin’s rise in value and popularity was driven by several key factors: **economic instability** in regions suffering from currency debasement and inflation, the growth of **cryptocurrency exchanges** like Mt. Gox, which made Bitcoin easier to trade, and the increasing **awareness** driven by early adopters and investors. As more people joined the network, Bitcoin’s price began to rise, drawing even more attention from a broader audience. +Bitcoin's rise in value and popularity was driven by several key factors: **economic instability** in regions suffering from currency debasement and inflation, the growth of **cryptocurrency exchanges** like Mt. Gox, which made Bitcoin easier to trade, and the increasing **awareness** driven by early adopters and investors. As more people joined the network, Bitcoin's price began to rise, drawing even more attention from a broader audience. 📊 -### Media Influence +#### Media Influence 📰 -In the beginning, Bitcoin was often portrayed negatively in the media. It was dismissed as a scam or a passing fad. However, as Bitcoin’s value and usage grew, so did public interest. Stories of early adopters who became millionaires caught the attention of mainstream audiences. This organic, word-of-mouth growth, coupled with media coverage, contributed to Bitcoin's rapid rise as a global phenomenon. \ No newline at end of file +In the beginning, Bitcoin was often portrayed negatively in the media. It was dismissed as a scam or a passing fad. However, as Bitcoin's value and usage grew, so did public interest. Stories of early adopters who became millionaires caught the attention of mainstream audiences. This organic, word-of-mouth growth, coupled with media coverage, contributed to Bitcoin's rapid rise as a global phenomenon. 🌍💰 \ No newline at end of file diff --git a/src/edu/ru/bitcoin/intro/why-bitcoin.md b/src/edu/ru/bitcoin/intro/why-bitcoin.md index 61ae8a8..7b27ef5 100644 --- a/src/edu/ru/bitcoin/intro/why-bitcoin.md +++ b/src/edu/ru/bitcoin/intro/why-bitcoin.md @@ -1,21 +1,21 @@ -# Why Bitcoin? +# Why Bitcoin? 🤔 -### Means to Exercise Control +#### Means to Exercise Control 🎮 -Bitcoin provides a solution to a longstanding problem with the traditional financial system: the reliance on intermediaries like banks. With Bitcoin, individuals can exercise true ownership over their wealth, without having to depend on a third party. This decentralized system allows users to control their assets directly through **private keys**. As long as you control your keys, no government or institution can seize or freeze your funds. Bitcoin provides users with unconfiscatable wealth. +Bitcoin provides a solution to a longstanding problem with the traditional financial system: the reliance on intermediaries like banks. With Bitcoin, individuals can exercise **true ownership** over their wealth, without having to depend on a third party. This decentralized system allows users to control their assets directly through **private keys**. As long as you control your keys, no government or institution can seize or freeze your funds. Bitcoin provides users with **unconfiscatable wealth**. 🔑💼 -### Means for Independence +#### Means for Independence 🏞️ -Bitcoin is independent of any central authority. There is no government or institution that controls it. This decentralization makes Bitcoin immune to censorship and interference. It operates globally, without the need for permission, and is accessible to anyone with an internet connection. Unlike traditional financial systems, Bitcoin is driven by its global community of users and developers, making it a resilient and borderless network. +Bitcoin is **independent of any central authority**. There is no government or institution that controls it. This decentralization makes Bitcoin immune to censorship and interference. It operates globally, without the need for permission, and is accessible to anyone with an internet connection. Unlike traditional financial systems, Bitcoin is driven by its global community of users and developers, making it a resilient and borderless network. 🌍🚫 -### Inflation Hedge +#### Inflation Hedge 🛡️ -Bitcoin is capped at a total supply of 21 million coins, making it a deflationary asset. Unlike fiat currencies, which can be inflated by printing more money, Bitcoin cannot be devalued through increasing its supply. As a result, Bitcoin is often seen as a hedge against inflation, particularly in countries with unstable economies or high levels of inflation. Its fixed supply ensures that its value is preserved over time, in contrast to the depreciation seen in many national currencies. +Bitcoin is capped at a total supply of 21 million coins, making it a **deflationary asset**. Unlike fiat currencies, which can be inflated by printing more money, Bitcoin cannot be devalued through increasing its supply. As a result, Bitcoin is often seen as a hedge against inflation, particularly in countries with unstable economies or high levels of inflation. Its fixed supply ensures that its value is preserved over time, in contrast to the depreciation seen in many national currencies. 📊💰 -### Means to Resist +#### Means to Resist ✊ -Bitcoin allows individuals to resist financial oppression. In regions with authoritarian governments or harsh financial restrictions, Bitcoin offers a way for people to bypass censorship and maintain their financial independence. It has become a popular tool for individuals facing sanctions, over-regulation, and financial gatekeeping, offering an alternative way to store and transfer wealth without relying on traditional financial institutions. +Bitcoin allows individuals to **resist financial oppression**. In regions with authoritarian governments or harsh financial restrictions, Bitcoin offers a way for people to bypass censorship and maintain their financial independence. It has become a popular tool for individuals facing sanctions, over-regulation, and financial gatekeeping, offering an alternative way to store and transfer wealth without relying on traditional financial institutions. 🚫🏦 -### Borderless Transactions +#### Borderless Transactions 🌐 -One of Bitcoin’s most powerful features is its borderless nature. It allows users to send and receive funds anywhere in the world, without the need for banks or intermediaries. Bitcoin can be transferred easily and quickly, regardless of geographic location, making it ideal for cross-border payments. Its rising liquidity and ease of transfer have made it a strong alternative to traditional assets like gold, which are more difficult to move and store. \ No newline at end of file +One of Bitcoin's most powerful features is its **borderless nature**. It allows users to send and receive funds anywhere in the world, without the need for banks or intermediaries. Bitcoin can be transferred easily and quickly, regardless of geographic location, making it ideal for cross-border payments. Its rising liquidity and ease of transfer have made it a strong alternative to traditional assets like gold, which are more difficult to move and store. 🚀💸 diff --git a/src/edu/ru/bitcoin/privacy-in-bitcoin/privacy-features-in-bitcoin-wallets.md b/src/edu/ru/bitcoin/privacy-in-bitcoin/privacy-features-in-bitcoin-wallets.md index bfc2cc3..fc29f72 100644 --- a/src/edu/ru/bitcoin/privacy-in-bitcoin/privacy-features-in-bitcoin-wallets.md +++ b/src/edu/ru/bitcoin/privacy-in-bitcoin/privacy-features-in-bitcoin-wallets.md @@ -1,33 +1,34 @@ -# Privacy Features in Bitcoin Wallets +# Privacy Features in Bitcoin Wallets 🕵️‍♀️🔒 -When it comes to privacy, choosing the right non-custodial wallet app is essential. Non-custodial Bitcoin wallet apps often offer built-in features designed to enhance user privacy. If privacy is a priority, you should familiarize yourself with these features. +When it comes to privacy, choosing the right non-custodial wallet app is essential. Non-custodial Bitcoin wallet apps often offer built-in features designed to enhance user privacy. If privacy is a priority, you should familiarize yourself with these features. 🧐 -### Address Generation +#### 🏠 Address Generation -One of the most effective privacy practices when using Bitcoin is to generate a new address for every transaction. This makes it more difficult to link multiple transactions back to a single user. By creating a new address for each transaction, users can effectively compartmentalize their Bitcoin holdings, making it harder for blockchain analysts to track the entire flow of funds. Most modern non-custodial wallets automatically generate new addresses for each incoming payment. +One of the most effective privacy practices when using Bitcoin is to generate a **new address for every transaction**. This makes it more difficult to link multiple transactions back to a single user. By creating a new address for each transaction, users can effectively compartmentalize their Bitcoin holdings, making it harder for blockchain analysts to track the entire flow of funds. Most modern non-custodial wallets automatically generate new addresses for each incoming payment. 🔄🆕 -For example, if a freelancer is paid by several clients in Bitcoin, using a different address for each client ensures that none of the clients can see the freelancer’s full Bitcoin balance on the blockchain. +For example, if a freelancer is paid by several clients in Bitcoin, using a different address for each client ensures that none of the clients can see the freelancer's full Bitcoin balance on the blockchain. 💼💰 -### Synchronization Mode +#### 🔄 Synchronization Mode -To calculate and keep a user's balance up-to-date, a Bitcoin wallet needs to synchronize itself with the blockchain each time it is opened. The way a wallet synchronizes with the blockchain can significantly impact user privacy. +To calculate and keep a user's balance up-to-date, a Bitcoin wallet needs to synchronize itself with the blockchain each time it is opened. The way a wallet synchronizes with the blockchain can significantly impact user privacy. 📊 -Many popular non-custodial wallets, especially hardware wallets, are not always online and need to synchronize with the blockchain when opened. To speed up this process, wallet providers often track users' receiving addresses on their servers and allow the wallets to retrieve balances via their infrastructure rather than directly from the blockchain. While this results in faster synchronization times, it exposes the user's entire balance and transaction history to the wallet provider. If pressured by a government agency, the wallet provider could reveal your data, including your IP address. +Many popular non-custodial wallets, especially hardware wallets, are not always online and need to synchronize with the blockchain when opened. To speed up this process, wallet providers often track users' receiving addresses on their servers and allow the wallets to retrieve balances via their infrastructure rather than directly from the blockchain. While this results in faster synchronization times, it exposes the user's entire balance and transaction history to the wallet provider. If pressured by a government agency, the wallet provider could reveal your data, including your IP address. 🏃‍♂️🚫 -Some non-custodial wallets, primarily SPV-enabled wallet apps, verify transactions without downloading the entire blockchain, using filters to check for relevant transactions. This allows for some level of privacy in a mobile-based wallet app, though the synchronization process is much slower compared to non-private, non-custodial wallet apps. +Some non-custodial wallets, primarily SPV-enabled wallet apps, verify transactions without downloading the entire blockchain, using filters to check for relevant transactions. This allows for some level of privacy in a mobile-based wallet app, though the synchronization process is much slower compared to non-private, non-custodial wallet apps. 🐢 -Some wallets also offer fast synchronization via independent third-party providers. For example, Unstoppable Wallet offers three different synchronization options, allowing users to balance privacy and convenience. +Some wallets also offer fast synchronization via independent third-party providers. For example, Unstoppable Wallet offers three different synchronization options, allowing users to balance privacy and convenience. ⚖️ -In conclusion, privacy-conscious users should weigh the trade-offs between convenience and privacy when choosing a wallet. For maximum privacy, consider using a full-node wallet or an SPV wallet that doesn't track your IP addresses or deposit addresses. +In conclusion, privacy-conscious users should weigh the trade-offs between convenience and privacy when choosing a wallet. For maximum privacy, consider using a full-node wallet or an SPV wallet that doesn't track your IP addresses or deposit addresses. 🎭 -### Input/Output Ordering -The way a wallet constructs a transaction can also impact user privacy. The order of inputs and outputs in a Bitcoin transaction can reveal information about the transaction and potentially compromise privacy. +#### 🔀 Input/Output Ordering -The default ordering of inputs and outputs can sometimes hint at which output is the payment and which is the change. This information can be used by blockchain analysis tools to track fund flows and potentially deanonymize users. +The way a wallet constructs a transaction can also impact user privacy. The order of inputs and outputs in a Bitcoin transaction can reveal information about the transaction and potentially compromise privacy. 🧩 -Some privacy-focused wallets (such as Unstoppable Wallet) implement randomized or deterministic ordering of inputs and outputs. This makes it harder for observers to guess which output belongs to the recipient and which is the change address. +The default ordering of inputs and outputs can sometimes hint at which output is the payment and which is the change. This information can be used by blockchain analysis tools to track fund flows and potentially deanonymize users. 🕵️‍♂️ -Instead of using a predictable order (e.g., change address always last), these wallets shuffle the order of inputs and outputs. Some wallets might use algorithms to determine a non-obvious but consistent order. +Some privacy-focused wallets (such as Unstoppable Wallet) implement **randomized or deterministic ordering** of inputs and outputs. This makes it harder for observers to guess which output belongs to the recipient and which is the change address. 🎲 -When choosing a wallet, look for those that implement privacy-preserving input/output ordering. Be aware that even with this feature, other aspects of your transaction patterns could still reveal information. \ No newline at end of file +Instead of using a predictable order (e.g., change address always last), these wallets shuffle the order of inputs and outputs. Some wallets might use algorithms to determine a non-obvious but consistent order. 🔀 + +When choosing a wallet, look for those that implement privacy-preserving input/output ordering. Be aware that even with this feature, other aspects of your transaction patterns could still reveal information. 👀 diff --git a/src/edu/ru/bitcoin/privacy-in-bitcoin/privacy-in-blockchain-pseudonymity-vs-anonymity.md b/src/edu/ru/bitcoin/privacy-in-bitcoin/privacy-in-blockchain-pseudonymity-vs-anonymity.md index 90dafe4..7e3c855 100644 --- a/src/edu/ru/bitcoin/privacy-in-bitcoin/privacy-in-blockchain-pseudonymity-vs-anonymity.md +++ b/src/edu/ru/bitcoin/privacy-in-bitcoin/privacy-in-blockchain-pseudonymity-vs-anonymity.md @@ -1,7 +1,7 @@ -# Privacy in Blockchain: Pseudonymity vs. Anonymity +# Privacy in Blockchain: Pseudonymity vs. Anonymity 🎭 -The Bitcoin blockchain operates on a pseudonymous system, meaning that while addresses are not directly tied to real-world identities, all transactions are publicly visible on the blockchain. This creates privacy challenges, as certain public tools can potentially trace Bitcoin addresses back to individuals. +The Bitcoin blockchain operates on a **pseudonymous system**, meaning that while addresses are not directly tied to real-world identities, all transactions are publicly visible on the blockchain. This creates privacy challenges, as certain public tools can potentially trace Bitcoin addresses back to individuals. 🔍 -For example, if a user purchases Bitcoin through a centralized crypto exchange linked to their personal information (such as a bank account), their Bitcoin address could be traced back to them. Over time, with enough data, someone could link multiple transactions and Bitcoin addresses to form a profile. +For example, if a user purchases Bitcoin through a centralized crypto exchange linked to their personal information (such as a bank account), their Bitcoin address could be traced back to them. Over time, with enough data, someone could link multiple transactions and Bitcoin addresses to form a profile. 🧑‍💻 -While the Bitcoin blockchain offers pseudonymity, it is not anonymous by default. Users need to be aware that their activity on the blockchain is publicly available, and third parties can analyze this data to deanonymize them. \ No newline at end of file +While the Bitcoin blockchain offers pseudonymity, it is **not anonymous by default**. Users need to be aware that their activity on the blockchain is publicly available, and third parties can analyze this data to deanonymize them. 📊 diff --git a/src/edu/ru/bitcoin/privacy-in-bitcoin/spv-wallets-a-simple-users-guide.md b/src/edu/ru/bitcoin/privacy-in-bitcoin/spv-wallets-a-simple-users-guide.md index 0c6145c..c156d3b 100644 --- a/src/edu/ru/bitcoin/privacy-in-bitcoin/spv-wallets-a-simple-users-guide.md +++ b/src/edu/ru/bitcoin/privacy-in-bitcoin/spv-wallets-a-simple-users-guide.md @@ -1,12 +1,13 @@ -# SPV Wallets: A Simple User’s Guide +# SPV Wallets: A Simple User's Guide 📱 -SPV (Simplified Payment Verification) wallets are a user-friendly option for people who want to use Bitcoin on their smartphones or computers without sacrificing decentralization. +SPV (Simplified Payment Verification) wallets are a user-friendly option for people who want to use Bitcoin on their smartphones or computers without sacrificing decentralization. 🚀 -Among non-custodial wallets, only two wallet types can connect and interact with the Bitcoin blockchain without a middleman: full-node wallets and SPV wallets. These wallets connect directly to the Bitcoin blockchain without relying on a wallet provider or any centralized entity. As long as the device has internet access, the wallet app can send and receive transactions. This means that not only does the user gain complete ownership over their Bitcoin, but they also maintain independent and unconditional access to the Bitcoin network for transacting. +Among non-custodial wallets, only two wallet types can connect and interact with the Bitcoin blockchain without a middleman: full-node wallets and SPV wallets. These wallets connect directly to the Bitcoin blockchain without relying on a wallet provider or any centralized entity. As long as the device has internet access, the wallet app can send and receive transactions. This means that not only does the user gain complete ownership over their Bitcoin, but they also maintain independent and unconditional access to the Bitcoin network for transacting. 🌐 -Think of an SPV wallet as a lightweight version of a full Bitcoin node. It connects directly to the Bitcoin blockchain without intermediaries but allows you to send and receive Bitcoin without downloading and storing the entire Bitcoin transaction history (which is vast and constantly growing). SPV-enabled mobile wallets strike a good balance between convenience and decentralization. +Think of an SPV wallet as a lightweight version of a full Bitcoin node. It connects directly to the Bitcoin blockchain without intermediaries but allows you to send and receive Bitcoin without downloading and storing the entire Bitcoin transaction history (which is vast and constantly growing). SPV-enabled mobile wallets strike a good balance between convenience and decentralization. ⚖️ -### What to Know About SPV Wallets: +#### What to Know About SPV Wallets: -- They are slower when it comes to synchronizing your balance with the Bitcoin network compared to non-custodial wallets without SPV capabilities. However, SPV wallets often provide different synchronization modes, allowing users to switch between decentralized (direct blockchain access) and centralized (via a third-party server) synchronization. -- SPV-enabled wallets are significantly better at preserving privacy. Non-custodial wallets that provide instant synchronization times typically track user addresses to facilitate this speed. \ No newline at end of file +- They are **slower** when it comes to synchronizing your balance with the Bitcoin network compared to non-custodial wallets without SPV capabilities. However, SPV wallets often provide different synchronization modes, allowing users to switch between decentralized (direct blockchain access) and centralized (via a third-party server) synchronization. 🐢🏃‍♂️ + +- SPV-enabled wallets are **significantly better at preserving privacy**. Non-custodial wallets that provide instant synchronization times typically track user addresses to facilitate this speed. 🕵️‍♀️🔒 \ No newline at end of file diff --git a/src/edu/ru/fundamentals/core/blockchains-explained.md b/src/edu/ru/fundamentals/core/blockchains-explained.md index 0205752..5545d52 100644 --- a/src/edu/ru/fundamentals/core/blockchains-explained.md +++ b/src/edu/ru/fundamentals/core/blockchains-explained.md @@ -1,34 +1,34 @@ -# BLOCKCHAINS EXPLAINED +# Блокчейн: как это работает -Now, let’s explore how Bitcoin and other top-tier cryptocurrencies actually work. What exactly makes them special? How are they different from traditional money in your bank account? +Давайте разберемся, как работают Bitcoin и другие ведущие криптовалюты. Что делает их особенными, и чем они отличаются от традиционных денег на вашем банковском счете? -Bitcoin and top-tier cryptocurrencies like Ethereum are powered by blockchain technology. Blockchain technology enables millions of independent entities (phones, computers, servers, etc.) to transact with each other in real-time securely without relying on a central authority. +Bitcoin и ведущие криптовалюты, такие как Ethereum, работают на основе **технологии блокчейн**. Эта технология позволяет миллионам независимых устройств (телефонам, компьютерам, серверам и т.д.) безопасно совершать транзакции в режиме реального времени без участия центрального органа управления. -Every blockchain is represented by a publicly open software program (a piece of code) that primarily provides means for its users to send transactions to each other and tracks users’ balances. +Каждый блокчейн работает через публично открытую программу (часть кода), которая позволяет пользователям отправлять транзакции друг другу и отслеживает их балансы. -What makes blockchain a “special” technology are the following characteristics: +Что делает блокчейн особенным? +Технология блокчейн уникальна благодаря следующим характеристикам: -#### Distributed: +- 📡 **Распределенность:** -Instead of being held in one centralized location, the blockchain allows for the ‘history of transactions’ to be held in thousands of locations simultaneously. Every participant keeps a copy, which gets updated in close to real-time. +Вместо хранения в одном централизованном месте, блокчейн позволяет хранить историю транзакций одновременно в тысячах мест. Каждый участник имеет копию, которая обновляется практически в реальном времени. -#### Peer-to-Peer: +- **🔗 Равноправное взаимодействие::** -Any participant can add a new transaction to the global ‘history of transactions’ by communicating with any entity on the network. It is then propagated to all other entities on that network. The lack of a “single point of access” ensures 24/7 availability and unconditional access to participation. +Любой участник может добавить новую транзакцию в глобальную историю транзакций, общаясь с любым узлом в сети. Затем эта транзакция распространяется на все остальные узлы этой сети. Отсутствие "единой точки доступа" обеспечивает круглосуточную доступность и безусловный доступ к участию. -#### Transparent: +- **🔍 Прозрачность:** -Blockchains are generally transparent, where the entire ‘history of transactions’ is public and accessible for anyone to scrutinize. While transactions are public, the entities involved are masked: any third party can see what’s taking place but can’t tell who exactly was involved. +Блокчейны обычно прозрачны, что означает, что вся история транзакций публична и доступна для изучения любому желающему. Хотя транзакции публичны, личности участвующих сторон скрыты: третьи стороны могут видеть, что происходит, но не могут определить, кто именно участвовал. -#### Immutable: +- **🔒 Неизменность:** -Blockchains are engineered so that once a transaction has taken place, it is impossible to reverse it. This ensures that no entity can alter the history of transactions. +После совершения транзакции ее невозможно отменить. Это гарантирует, что никто не может изменить историю транзакций. -#### Democratic: +- **⚖️ Демократичность:** -All network participants are equal and abide by the same set of rules. If one entity tries to do anything outside of the agreed set of rules, it will be disregarded by other network participants. +Все участники сети равны и подчиняются одному набору правил. Если кто-то пытается действовать вне согласованных правил, его действия будут проигнорированы другими участниками. +Например, блокчейн Bitcoin - это по сути большая сеть устройств (компьютеров, майнеров и т.д.), работающих на открытом программном обеспечении Bitcoin. Эти устройства постоянно общаются друг с другом и ведут учет транзакций Bitcoin между участниками сети (т.е. кошельками). -For instance, a blockchain like Bitcoin is essentially a large network of devices (computers, miners, etc.) running open-source Bitcoin software. These devices constantly communicate with each other and keep a record of Bitcoin transactions conducted between network participants (i.e., wallets). - -In this regard, Bitcoin aims to deliver a financial platform for secure value exchange without relying on gatekeepers or intermediaries such as banks. \ No newline at end of file +Таким образом, Bitcoin стремится предоставить финансовую платформу для безопасного обмена ценностями без опоры на контролеров или посредников, таких как банки. \ No newline at end of file diff --git a/src/edu/ru/fundamentals/core/cryptocurrencies-vs-tokens.md b/src/edu/ru/fundamentals/core/cryptocurrencies-vs-tokens.md index e9d67ad..d54efa4 100644 --- a/src/edu/ru/fundamentals/core/cryptocurrencies-vs-tokens.md +++ b/src/edu/ru/fundamentals/core/cryptocurrencies-vs-tokens.md @@ -1,29 +1,29 @@ -# CRYPTOCURRENCIES vs TOKENS +# КРИПТОВАЛЮТЫ vs ТОКЕНЫ -Cryptocurrencies are native units of account on a given blockchain. Each blockchain has its own base unit. Bitcoin (symbol 'BTC') is the base unit of the Bitcoin blockchain, and Ether (symbol 'ETH') is the base unit of the Ethereum blockchain. +Криптовалюты - это нативные единицы учета на данном блокчейне. У каждого блокчейна есть своя базовая единица. Bitcoin (символ 'BTC') - это базовая единица блокчейна Bitcoin, а Ether (символ 'ETH') - базовая единица блокчейна Ethereum. -#### Smart Contracts +#### Смарт-контракты -While the Bitcoin blockchain is mostly limited to BTC transfers from one address to another, the Ethereum allows for a wide variety of transactions beyond simple transfers of ETH between addresses. +В то время как блокчейн Bitcoin в основном ограничен переводами BTC с одного адреса на другой, Ethereum позволяет осуществлять широкий спектр транзакций помимо простых переводов ETH между адресами. -Ethereum and many other newer blockchains enable people to create autonomous standalone programs operating on top of that blockchain. These programs are known as smart contracts and can be programmed by anyone. +Ethereum и многие другие новые блокчейны позволяют людям создавать автономные отдельные программы, работающие поверх этого блокчейна. Эти программы известны как смарт-контракты и могут быть запрограммированы кем угодно. -There are thousands of various smart contracts running on top of Ethereum, created both by private individuals and business entities. These smart contracts can take arbitrary forms and can be anything from a lottery to a voting system to an exchange service. +На Ethereum работают тысячи различных смарт-контрактов, созданных как частными лицами, так и бизнес-структурами. Эти смарт-контракты могут принимать произвольные формы и могут быть чем угодно: от лотереи до системы голосования или обменного сервиса. -#### Tokens +#### Токены -In many cases, smart contracts can introduce their own unit of something. Let’s explore some hypothetical lottery smart contract a bit further. +Во многих случаях смарт-контракты могут вводить свою собственную единицу чего-либо. Давайте подробнее рассмотрим некий гипотетический лотерейный смарт-контракт. -By design, this smart contract can have a LOTTERY unit token which can be used to enter a lottery draw. To obtain a LOTTERY token, a user must send a predefined payment to the smart contract. Any interaction with the lottery smart contract is a separate transaction on the blockchain. +По дизайну, этот смарт-контракт может иметь токен-единицу LOTTERY, который можно использовать для участия в лотерейном розыгрыше. Чтобы получить токен LOTTERY, пользователь должен отправить предопределенный платеж в смарт-контракт. Любое взаимодействие с лотерейным смарт-контрактом является отдельной транзакцией в блокчейне. -So, tokens can take many forms. Today, crypto tokens make up nearly 99% of all cryptocurrencies. +Итак, токены могут принимать множество форм. Сегодня крипто-токены составляют почти 99% всех криптовалют. -Here are some properties of crypto tokens: +Вот некоторые свойства крипто-токенов: -- Tokens do not inherit the decentralization principles of base cryptocurrencies like BTC or ETH. Tokens on the other hand are governed by smart contracts created by people and thus can take any form. For instance, a creator of a smart contract may program it to allow a privileged user to create an unlimited number of tokens. +- Токены не наследуют принципы децентрализации базовых криптовалют, таких как BTC или ETH. Токенами, с другой стороны, управляют смарт-контракты, созданные людьми, и поэтому они могут принимать любую форму. Например, создатель смарт-контракта может запрограммировать его так, чтобы привилегированный пользователь мог создавать неограниченное количество токенов. -- Token creators may launch their tokens on multiple blockchains. For instance, Tether’s USDT stablecoin token exists on many blockchains. +- Создатели токенов могут запускать свои токены на нескольких блокчейнах. Например, стейблкоин USDT от Tether существует на многих блокчейнах. -- Tokens usually adhere to specific design/engineering standards on the underlying blockchain. On Ethereum, tokens usually follow the ERC20 standard. As a result, tokens can interact with other third-party smart contracts on that blockchain and can also be stored in cryptocurrency wallets. +- Токены обычно придерживаются определенных стандартов дизайна/разработки на базовом блокчейне. В Ethereum токены обычно следуют стандарту ERC20. В результате токены могут взаимодействовать с другими сторонними смарт-контрактами в этом блокчейне, а также могут храниться в криптовалютных кошельках. -- Transferring some amount of a token from one wallet to another is a transaction on the blockchain and requires a fee in the base cryptocurrency of the underlying blockchain. \ No newline at end of file +- Перевод некоторого количества токена с одного кошелька на другой является транзакцией в блокчейне и требует комиссии в базовой криптовалюте базового блокчейна. \ No newline at end of file diff --git a/src/edu/ru/fundamentals/core/cryptocurrency-and-ownership.md b/src/edu/ru/fundamentals/core/cryptocurrency-and-ownership.md index 5781a7c..93bac3e 100644 --- a/src/edu/ru/fundamentals/core/cryptocurrency-and-ownership.md +++ b/src/edu/ru/fundamentals/core/cryptocurrency-and-ownership.md @@ -1,11 +1,13 @@ -# CRYPTO ENABLES TRUE OWNERSHIP +# Криптовалюты и Право Собственности 💰 -In the world of cryptocurrency, true ownership stands out as one of its most significant benefits. Cryptocurrency and blockchain technology empower individuals with self-custody, allowing them to keep their wealth independent, private and easily transportable. This was never possible before! +В мире криптовалют истинное владение выделяется как одно из самых значительных преимуществ. Криптовалюта и технология блокчейн наделяют людей возможностью самостоятельного хранения, позволяя им сохранять свое богатство независимым, приватным и легко транспортируемым. Раньше это было невозможно! -- Traditional fiat money, whether in your bank account or held as cash, can be confiscated, sanctioned, or stolen. It’s not uncommon for banks or governments to limit access to capital, restrict transactions, or even confiscate assets. In contrast, cryptocurrency enables capital ownership that is discrete and resistant to censorship. +- **Традиционные фиатные деньги**, будь то на банковском счете или в наличной форме, могут быть конфискованы, заморожены или украдены. Нередки случаи, когда банки или правительства ограничивают доступ к капиталу, запрещают транзакции или даже конфискуют активы. В отличие от этого, криптовалюта обеспечивает владение капиталом, которое является скрытным и устойчивым к цензуре. -- Keeping wealth in cash or hard assets such as gold also comes with security risks and the challenge of transportation. Cryptocurrencies, on the other hand, are easy to conceal, convenient to transport, and can be used almost anywhere in the world. -- Moreover, over the years, Bitcoin has proven to be an ideal hedge against inflation, often outperforming all other asset classes. While fiat savers are losing purchasing power, Bitcoin holders (often referred to as HODLers) are gaining. +- Хранение богатства в наличных деньгах или твердых активах, таких как золото, также связано с рисками безопасности и проблемами транспортировки. Криптовалюты, напротив, легко скрыть, удобно транспортировать и можно использовать практически в любой точке мира. -Contrary to common belief, mastering crypto self-custody is not a daunting task; it’s about understanding the fundamentals that can make you virtually unstoppable. \ No newline at end of file + +- Более того, за прошедшие годы **Bitcoin** доказал, что является идеальным средством защиты от инфляции, часто превосходя по эффективности все другие классы активов. В то время как владельцы фиатных валют теряют покупательную способность, держатели Bitcoin (часто называемые HODLерами) ее наращивают. + +Вопреки распространенному мнению, освоение самостоятельного хранения криптовалюты не является сложной задачей; речь идет о понимании основ, которые могут сделать вас практически неостановимым. \ No newline at end of file diff --git a/src/edu/ru/fundamentals/core/why-cryptocurrencies.md b/src/edu/ru/fundamentals/core/why-cryptocurrencies.md index 8f842d6..d9117e6 100644 --- a/src/edu/ru/fundamentals/core/why-cryptocurrencies.md +++ b/src/edu/ru/fundamentals/core/why-cryptocurrencies.md @@ -1,34 +1,39 @@ -# ПОЧЕМУ КРИПТОВАЛЮТЫ? - +# Почему криптовалюты? 💰 Чтобы понять криптовалюты в широком смысле, нам нужно сначала разобраться в Bitcoin и изучить его основополагающие принципы. Почему Bitcoin вырос, и почему он привлекает все больше людей? -### 1) На практике владение Bitcoin дает следующие прямые преимущества: +#### 1) Практические преимущества владения Bitcoin + +- **🌍 Легкое перемещение капитала по всему миру** -- #### 🌍 Легкое перемещение капитала по всему миру Возможность скрытно переводить капитал через границы. -- #### 📍 Доступ к капиталу из любой точки -Доступ к вашему капиталу из любого места без ограничений. +- **📍 Доступ к капиталу из любой точки** + +Возможность получить доступ к капиталу из любого места незаметно. + +- **🤝 Свобода транзакций** -- #### 🤝 Свобода транзакций -Проведение транзакций с кем угодно без посредников, таких как банки или сервисы денежных переводов. +Возможность совершать сделки с кем угодно без посредников, таких как банки или сервисы денежных переводов. -- #### 💰 Сохранение и приумножение капитала -Сбережение и сохранение вашего капитала с защитой от инфляции. Фактически, растущая популярность Bitcoin сделала его эффективным инструментом для долгосрочного роста капитала. +- **💰 Сохранение и приумножение капитала** -### 2) Более широкие характеристики Bitcoin +Возможность сберегать, сохранять капитал и избегать инфляции. Фактически, растущая популярность Bitcoin сделала его эффективным инструментом для умножения капитала при долгосрочном инвестировании. -В более широком смысле Bitcoin воплощает новый тип денег со следующими характеристиками: +#### 2) Характеристики Bitcoin 💡 +В более широком смысле, Bitcoin - это вид денег, который обладает следующими характеристиками: + +- **🔗 Децентрализованное управление** -- #### 🔗 Децентрализованное управление Не контролируется ни одним отдельным субъектом. -- #### 📉 Фиксированное предложение +- **📉 Фиксированное предложение** + Не может быть напечатан или подвержен инфляции ни одним субъектом. -- #### 🛡️ Устойчивость +- **🛡️ Устойчивость** + Не может быть подвергнут цензуре или отключен. Главная причина, которая привлекла некоторых из его сильнейших сторонников (задолго до того, как он стал очень популярным), заключается в идее демократического доступа к альтернативной финансовой системе, где нет границ или контролеров. -В отличие от традиционной финансовой системы, которая жестко регулируется, любой может свободно получить доступ и участвовать в сети Bitcoin на равных условиях. \ No newline at end of file +В отличие от традиционной финансовой системы, которая жестко регулируется, любой может свободно получить доступ и участвовать в сети Bitcoin на равных условиях. 🔗 \ No newline at end of file diff --git a/src/edu/ru/fundamentals/transactions/canceling_transaction.md b/src/edu/ru/fundamentals/transactions/canceling-transaction.md similarity index 58% rename from src/edu/ru/fundamentals/transactions/canceling_transaction.md rename to src/edu/ru/fundamentals/transactions/canceling-transaction.md index c4bcc84..164c501 100644 --- a/src/edu/ru/fundamentals/transactions/canceling_transaction.md +++ b/src/edu/ru/fundamentals/transactions/canceling-transaction.md @@ -1,32 +1,26 @@ -# CANCELLING TRANSACTIONS +# Cancelling Transactions ⛔️ -There are situations where you may find yourself needing to cancel a cryptocurrency transaction. While it is generally difficult to reverse a transaction once it has been initiated, there are specific circumstances where you might be able to cancel or modify it, particularly if the transaction is still in a pending state. This possibility exists primarily on slower blockchains like Bitcoin or Ethereum, where transactions can remain pending for several seconds or even minutes. +There are situations where you may find yourself needing to cancel a cryptocurrency transaction. While it is generally difficult to reverse a transaction once it has been initiated, there are specific circumstances where you might be able to cancel or modify it, particularly if the transaction is still in a pending state. This possibility exists primarily on slower blockchains like **Bitcoin** or **Ethereum**, where transactions can remain pending for several seconds or even minutes. 🕒 -However, once a transaction is confirmed and added to the blockchain, it is usually irreversible. This means that, once finalized, transactions cannot be canceled. +However, once a transaction is confirmed and added to the blockchain, it is usually **irreversible**. This means that, once finalized, transactions cannot be canceled. ❌ - -### Cancelling Pending Transactions +#### 🔄Cancelling Pending Transactions Cancelling a pending transaction is possible, but only if your wallet app supports this functionality. -In non-custodial wallets, the process of canceling a transaction involves sending a separate "cancellation" transaction that invalidates the original one. This cancellation transaction must be sent with a substantially higher transaction fee than the original transaction to ensure it is prioritized and processed first. +In non-custodial wallets, the process of canceling a transaction involves sending a separate "cancellation" transaction that invalidates the original one. This cancellation transaction must be sent with a **substantially higher transaction fee** than the original transaction to ensure it is prioritized and processed first. 📈 Here’s what you need to keep in mind: - -1) Success Is Not Guaranteed - +- ✅ **1. Success Is Not Guaranteed** Sending a cancellation transaction does not guarantee success. If the original transaction is confirmed and added to the blockchain before the cancellation transaction is processed, the cancellation will fail and be considered invalid. +- ⏱️ **2. Timing Is Crucial** +The cancellation transaction must reach the network and be processed before the original transaction is confirmed. Therefore, setting a high transaction fee is essential. If it succeeds, the original transaction will be deemed invalid. -2) Timing Is Crucial - -The cancellation transaction must reach the network and be processed before the original transaction is confirmed. Therefore, setting high transaction fee is essential. If it succeeds, the original transaction will be deemed invalid. - - -3) Mutual Exclusivity - +- 🔗 **3. Mutual Exclusivity** Due to the way non-custodial wallets construct these transactions, only one of the two—the original or the cancellation—can be valid. If the cancellation transaction is successful, it invalidates the original. Conversely, if the original transaction is confirmed first, the cancellation is rendered moot. +#### 📝 In Summary +While it is possible to cancel a pending cryptocurrency transaction on some blockchains, the success of this action depends on several factors, including the speed of the network, the fees involved, and the capabilities of your wallet. Therefore, it is always wise to double-check transaction details before sending to avoid the need for cancellation. ✔️ -In summary, while it is possible to cancel a pending cryptocurrency transaction on some blockchains, the success of this action depends on several factors, including the speed of the network, the fees involved, and the capabilities of your wallet. Therefore, it is always wise to double-check transaction details before sending to avoid the need for cancellation. \ No newline at end of file diff --git a/src/edu/ru/fundamentals/transactions/privacy-in-transactions.md b/src/edu/ru/fundamentals/transactions/privacy-in-transactions.md index aae0fcf..e439fce 100644 --- a/src/edu/ru/fundamentals/transactions/privacy-in-transactions.md +++ b/src/edu/ru/fundamentals/transactions/privacy-in-transactions.md @@ -1,42 +1,36 @@ -# PRIVACY IN TRANSACTIONS - +# Privacy in Transactions 🔒 While blockchain technology offers transparency and security, it’s essential to recognize the limitations of privacy when using cryptocurrencies and tokens. +#### 🤔 General Privacy Considerations +Most blockchains, including **Bitcoin** and **Ethereum**, store transaction data openly, making it accessible to anyone. 🕵️‍♂️ -### General Privacy Considerations - -Most blockchains, including Bitcoin and Ethereum, store transaction data openly, making it accessible to anyone. - -This means that details such as transaction times, amounts, and sender/receiver addresses are visible to the public. Although these addresses are pseudonymous and not directly linked to real-world identities, they can sometimes be traced back, compromising privacy. - -In contrast, privacy-focused cryptocurrencies like Monero and Zcash are designed to conceal transaction details, ensuring that no information is publicly disclosed. However, for most popular cryptocurrencies like Bitcoin and Ethereum, transparency is inherent. - -Given this, neither Bitcoin nor Ethereum should be relied upon for transactions where high levels of privacy are required. - +This means that details such as **transaction times**, **amounts**, and **sender/receiver addresses** are visible to the public. Although these addresses are **pseudonymous** and not directly linked to real-world identities, they can sometimes be traced back, compromising privacy. 🚨 -### Bitcoin Privacy +In contrast, privacy-focused cryptocurrencies like **Monero** and **Zcash** are designed to **conceal transaction details**, ensuring that no information is publicly disclosed. However, for most popular cryptocurrencies like Bitcoin and Ethereum, **transparency is inherent**. -Bitcoin wallets are designed to allow users to generate numerous addresses for receiving payments. Each address can be used multiple times or only once—it’s entirely up to the user. To enhance privacy, users are encouraged to use a new address for each transaction. +Given this, neither Bitcoin nor Ethereum should be relied upon for transactions where high levels of privacy are required. 🔓 -A well-designed cryptocurrency wallet app that supports Bitcoin will automatically generate a new receiving address after each payment to discourage the reuse of addresses. +#### 💼 Bitcoin Privacy -If a user consistently uses the same address, anyone with access to one of their transactions could trace other incoming and outgoing transactions, revealing transaction history, dates, amounts, and possibly the user’s total balance. +**Bitcoin wallets** allow users to generate numerous addresses for receiving payments. Each address can be used multiple times or only once—it’s up to the user. To enhance privacy, users are encouraged to use a **new address** for each transaction. -Thus, to maintain privacy, it’s important to use a wallet that handles address generation automatically, minimizing the need for manual intervention. +A well-designed cryptocurrency wallet app that supports Bitcoin will automatically generate a new receiving address after each payment to discourage the reuse of addresses. 📤 +If a user consistently uses the same address, anyone with access to one of their transactions could trace other incoming and outgoing transactions, revealing the **transaction history**, dates, amounts, and possibly the user’s total balance. -### Ethereum Privacy +Thus, to maintain privacy, it’s important to use a wallet that handles **automatic address generation**, minimizing the need for manual intervention. -Unlike Bitcoin, Ethereum wallets maintain a single address for receiving Ether payments within a wallet. The Ethereum blockchain is fully transparent, allowing anyone to view all transactions associated with an address. Although the address itself isn’t linked to a real-world identity, this transparency can still pose privacy risks. +#### 🌐 Ethereum Privacy -When sending or receiving Ethereum, be aware that the other party can view your balance, see any Ethereum-based tokens (like USDT), and track your transaction history—all from knowing your address. +Unlike Bitcoin, **Ethereum wallets** maintain a **single address** for receiving Ether payments. The Ethereum blockchain is fully transparent, allowing anyone to view all transactions associated with an address. 📝 -To mitigate these risks, it’s advisable to use separate wallets for different purposes. For example, you could use one wallet for everyday transactions and another for asset accumulation. This separation ensures that your main holdings remain private, even if your transaction wallet is exposed. +When sending or receiving Ethereum, be aware that the other party can view your **balance**, see any Ethereum-based tokens (like **USDT**), and track your **transaction history** separate wallets—all from knowing your address. +To mitigate these risks, it’s advisable to use **separate wallets** for different purposes. For example, you could use one wallet for everyday transactions and another for asset accumulation. This separation ensures that your main holdings remain private, even if your transaction wallet is exposed. 🛡️ -### Privacy in Multicoin Wallets +#### 🔗 Privacy in Multicoin Wallets -While the privacy characteristics of cryptocurrencies depend on the underlying properties of their respective blockchains, wallet providers play an important role in how well those privacy features are implemented. +While the privacy characteristics of cryptocurrencies depend on the underlying properties of their respective blockchains, **wallet providers** play an important role in how well those privacy features are implemented. -Finally, it’s important to note that the privacy of one cryptocurrency within a multicoin wallet does not affect the privacy of another. For example, revealing your Ethereum address does not compromise your Bitcoin activity, even if both are managed within the same wallet. \ No newline at end of file +It’s important to note that the privacy of one cryptocurrency within a multicoin wallet does not affect the privacy of another. For example, revealing your **Ethereum address** does not compromise your **Bitcoin activity**, even if both are managed within the same wallet. 🔐 \ No newline at end of file diff --git a/src/edu/ru/fundamentals/transactions/sending-receiving.md b/src/edu/ru/fundamentals/transactions/sending-receiving.md index 1bd2fd7..939a832 100644 --- a/src/edu/ru/fundamentals/transactions/sending-receiving.md +++ b/src/edu/ru/fundamentals/transactions/sending-receiving.md @@ -1,36 +1,33 @@ -# TRANSACTING WITH CRYPTOCURRENCY +# TRANSACTING WITH CRYPTOCURRENCY 💱 -Understanding how to send and receive cryptocurrency is a fundamental skill for any crypto user. While the process is generally similar across different cryptocurrencies, certain aspects can vary depending on the specific digital asset. This guide will walk you through the essentials of conducting transactions using non-custodial wallet apps. +Understanding how to send and receive cryptocurrency is a **fundamental skill** for any crypto user. 🧠 While the process is generally similar across different cryptocurrencies, certain aspects can vary depending on the specific digital asset. This guide will walk you through the essentials of conducting transactions using non-custodial wallet apps. 📱 +#### Sending Cryptocurrency 📤 -### Sending Cryptocurrency +When you're ready to send cryptocurrency, you'll need to enter the recipient's address, the amount you wish to send, and the transaction fee before hitting "Send." 🚀 -When you’re ready to send cryptocurrency, you’ll need to enter the recipient’s address, the amount you wish to send, and the transaction fee before hitting "Send." +**Accuracy is crucial** when entering the recipient's address, as cryptocurrency transactions are **irreversible**—funds sent to the wrong address cannot be recovered. ⚠️ Some wallet apps allow you to scan the recipient's QR code, automatically populating the address field for added convenience and security. 📷 -Accuracy is crucial when entering the recipient’s address, as cryptocurrency transactions are irreversible—funds sent to the wrong address cannot be recovered. Some wallet apps allow you to scan the recipient’s QR code, automatically populating the address field for added convenience and security. +Most non-custodial wallets will suggest an appropriate transaction fee based on current network conditions. 💸 It's important to remember that this fee goes directly to the blockchain network, not the wallet provider. We will delve deeper into transaction fees in a later section. -Most non-custodial wallets will suggest an appropriate transaction fee based on current network conditions. It’s important to remember that this fee goes directly to the blockchain network, not the wallet provider. We will delve deeper into transaction fees in a later section. +#### 📥 Receiving Cryptocurrency +To receive cryptocurrency, open your wallet app and select the "Receive" or "Deposit" option. The app will generate a unique receiving address for most cryptocurrencies, although some tokens may share the same address. 🏷️ For example, all Ethereum-based tokens within a single wallet will have the same receiving address. -### Receiving Cryptocurrency +Simply share this address with the sender, and your cryptocurrency will appear in your wallet once the transaction is confirmed. ✅ It's important to note that some wallets, particularly those for Bitcoin, may generate a new receiving address after each transaction to enhance privacy🕵️‍♀️. -To receive cryptocurrency, open your wallet app and select the "Receive" or “Deposit” option. The app will generate a unique receiving address for most cryptocurrencies, although some tokens may share the same address. For example, all Ethereum-based tokens within a single wallet will have the same receiving address. +#### 🔍 How Transactions Actually Happen -Simply share this address with the sender, and your cryptocurrency will appear in your wallet once the transaction is confirmed. It’s important to note that some wallets, particularly those for Bitcoin, may generate a new receiving address after each transaction to enhance privacy. +For those interested in the technical side of how non-custodial transactions work, here's a breakdown of the process: +- 🛠️ **Transaction Preparation** -### How Transactions Actually Happen +After you enter the recipient's details, the amount to be sent, and the transaction fee, the wallet app constructs the transaction. This preparation can occur locally on your device or through the wallet provider's server. -For those interested in the technical side of how non-custodial transactions work, here’s a breakdown of the process: +- 🔐 **Cryptographic Signing** -1) Transaction Preparation +Once the transaction is ready, it is **cryptographically signed** by the wallet app using your private key. This signature is what makes the transaction non-custodial; only the private key holder can authorize a transaction that the blockchain will accept. -After you enter the recipient’s details, the amount to be sent, and the transaction fee, the wallet app constructs the transaction. This preparation can occur locally on your device or through the wallet provider’s server. +- 📡 **Broadcasting** -2) Cryptographic Signing - -Once the transaction is ready, it is cryptographically signed by the wallet app using your private key. This signature is what makes the transaction non-custodial; only the private key holder can authorize a transaction that the blockchain will accept. - -3) Broadcasting - -The signed transaction is then broadcasted to the blockchain network, where it awaits processing and confirmation. \ No newline at end of file +The signed transaction is then broadcasted to the blockchain network, where it awaits processing and confirmation. ⏳ \ No newline at end of file diff --git a/src/edu/ru/fundamentals/transactions/transaction-fees.md b/src/edu/ru/fundamentals/transactions/transaction-fees.md index 41ee764..6828de4 100644 --- a/src/edu/ru/fundamentals/transactions/transaction-fees.md +++ b/src/edu/ru/fundamentals/transactions/transaction-fees.md @@ -1,39 +1,35 @@ -# TRANSACTION FEES +# TRANSACTION FEES 💸 -While blockchain technology itself is free to use, every transaction made on a blockchain network requires a small fee. In both the Ethereum and Bitcoin networks, these transaction fees are paid by the sender directly to the blockchain. This applies to every transaction conducted using a non-custodial wallet. +While blockchain technology itself is free to use, every transaction made on a blockchain network requires a small fee. In both the Ethereum and Bitcoin networks, these transaction fees are paid by the sender directly to the blockchain. This applies to **every transaction** conducted using a non-custodial wallet. 🔗 +#### Paying Transaction Fees 💰 -### Paying Transaction Fees +Transaction fees must be paid in the **native cryptocurrency** of the blockchain being used. For example, on the Ethereum blockchain, fees are paid in ETH, while on the Bitcoin blockchain, fees are paid in BTC. 🔄 -Transaction fees must be paid in the native cryptocurrency of the blockchain being used. For example, on the Ethereum blockchain, fees are paid in ETH, while on the Bitcoin blockchain, fees are paid in BTC. +If you are sending USDT (Tether) on the Ethereum network, you'll need ETH to cover the transaction fee. On the other hand, if you're sending USDT on the Tron blockchain, the fee would be paid in TRX (Tron). 💱 -If you are sending USDT (Tether) on the Ethereum network, you’ll need ETH to cover the transaction fee. On the other hand, if you’re sending USDT on the Tron blockchain, the fee would be paid in TRX (Tron). +It's not uncommon for newcomers to be confused when asked to deposit some ETH, TRX, or another cryptocurrency to send USDT via a non-custodial wallet. 🤔 -It’s not uncommon for newcomers to be confused when asked to deposit some ETH, TRX, or another cryptocurrency to send USDT via a non-custodial wallet. +#### 🎯 Purpose of Transaction Fees +Transaction fees serve several **crucial purposes**. One of the primary reasons for these fees is that blockchain networks like Bitcoin and Ethereum can process only a limited number of transactions per day. To prioritize transactions, users can offer higher fees, ensuring their transfers are processed more quickly. This creates an open market where those needing faster confirmations can pay for priority. ⚡ -###Purpose of Transaction Fees +Additionally, fees act as a deterrent against spam attacks. Without fees, it would be easy for bad actors to flood the blockchain with spam transactions, congesting the network and slowing down legitimate transfers. 🛡️ -Transaction fees serve several crucial purposes. One of the primary reasons for these fees is that blockchain networks like Bitcoin and Ethereum can process only a limited number of transactions per day. To prioritize transactions, users can offer higher fees, ensuring their transfers are processed more quickly. This creates an open market where those needing faster confirmations can pay for priority. +#### 🤑 Who Receives the Fees? -Additionally, fees act as a deterrent against spam attacks. Without fees, it would be easy for bad actors to flood the blockchain with spam transactions, congesting the network and slowing down legitimate transfers. +You don't need to dive deep into the technical details, but it's useful to know that thousands of nodes (or miners in the Bitcoin network) power the blockchain. When you send a transaction, it is broadcasted to these nodes within seconds. The node that first adds your transaction to the blockchain earns the transaction fee as a reward. 🏆 +Each time you make a transaction, a different node processes it and collects the fee. Consider this as a service charge for using the network. 🔧 -###Who Receives the Fees? +#### 📊 Fees Are Dynamic -You don’t need to dive deep into the technical details, but it’s useful to know that thousands of nodes (or miners in the Bitcoin network) power the blockchain. When you send a transaction, it is broadcasted to these nodes within seconds. The node that first adds your transaction to the blockchain earns the transaction fee as a reward. +Transaction fees are **not fixed**; they fluctuate based on the current state of the blockchain. When the network is congested or experiencing high demand, fees can increase significantly, sometimes reaching several dollars per transaction. Conversely, when the network is less busy, fees can drop to just a fraction of a cent. 📈📉 -Each time you make a transaction, a different node processes it and collects the fee. Consider this as a service charge for using the network. +If your transaction fee is set well below the network's average, your transaction may remain pending for hours or even days. In extreme cases, it may be rejected entirely, as if it were never sent. On the other hand, paying a fee above the average ensures that your transaction is processed quickly, often within seconds or minutes, depending on the blockchain's conditions. ⏳ +Some wallet apps, including Unstoppable, recommend the optimal transaction fee based on current network conditions, helping you find the right balance between cost and speed. ⚖️ -### Fees Are Dynamic +When sending large sums or time-sensitive payments, it's wise to set a transaction fee above the average to ensure your transfer reaches its destination without delay. 🚀 -Transaction fees are not fixed; they fluctuate based on the current state of the blockchain. When the network is congested or experiencing high demand, fees can increase significantly, sometimes reaching several dollars per transaction. Conversely, when the network is less busy, fees can drop to just a fraction of a cent. - -If your transaction fee is set well below the network’s average, your transaction may remain pending for hours or even days. In extreme cases, it may be rejected entirely, as if it were never sent. On the other hand, paying a fee above the average ensures that your transaction is processed quickly, often within seconds or minutes, depending on the blockchain’s conditions. - -Some wallet apps, including Unstoppable, recommend the optimal transaction fee based on current network conditions, helping you find the right balance between cost and speed. - -When sending large sums or time-sensitive payments, it’s wise to set a transaction fee above the average to ensure your transfer reaches its destination without delay. - -The value being transferred in transaction doesn't impact its fee. In other words, a transaction transferring $1mill. worth of BTC can cost less than a transaction sending 10$ worth of BTC. \ No newline at end of file +The value being transferred in transaction **doesn't impact its fee**. In other words, a transaction transferring $1mill. worth of BTC can cost less than a transaction sending 10$ worth of BTC. 💡 \ No newline at end of file diff --git a/src/edu/ru/fundamentals/transactions/transaction-states.md b/src/edu/ru/fundamentals/transactions/transaction-states.md index 291929f..672d47a 100644 --- a/src/edu/ru/fundamentals/transactions/transaction-states.md +++ b/src/edu/ru/fundamentals/transactions/transaction-states.md @@ -1,36 +1,33 @@ -# TRANSACTION STATES +# TRANSACTION STATES 📊 -Cryptocurrency transactions are not instantaneous. Depending on the specific cryptocurrency or token, a transaction might take anywhere from a few seconds to several minutes or even hours to complete. +Cryptocurrency transactions are **not instantaneous**. Depending on the specific cryptocurrency or token, a transaction might take anywhere from a few seconds to several minutes or even hours to complete. ⏳ When using a non-custodial wallet, transactions are processed directly through the blockchain, following these stages: +#### 1) ⏳ Transaction Is Pending -### 1) Transaction Is Pending +Once a transaction is sent from the sender's non-custodial wallet, it reaches the underlying blockchain network almost instantly. For example, Bitcoin transactions are sent to the Bitcoin network, while Ether transactions are sent to the Ethereum network. Each node participating in that blockchain receives the transaction within seconds. If the transaction is valid, it is added to the processing queue for inclusion in the blockchain (the permanent record). 🔗 -Once a transaction is sent from the sender's non-custodial wallet, it reaches the underlying blockchain network almost instantly. For example, Bitcoin transactions are sent to the Bitcoin network, while Ether transactions are sent to the Ethereum network. Each node participating in that blockchain receives the transaction within seconds. If the transaction is valid, it is added to the processing queue for inclusion in the blockchain (the permanent record). +At this stage, both the sender and recipient can monitor the transaction's status on a public blockchain explorer, such as https://blockchair.com. 🔍 -At this stage, both the sender and recipient can monitor the transaction's status on a public blockchain explorer, such as https://blockchair.com. +The time a transaction remains pending varies depending on the blockchain and is largely influenced by the **transaction fee** set by the user. If the fee is well above the average of other transactions in the queue, it will be processed quickly. Conversely, if the fee is significantly lower, the transaction will have to wait until its fee becomes competitive enough to be processed. 💸 -The time a transaction remains pending varies depending on the blockchain and is largely influenced by the transaction fee set by the user. If the fee is well above the average of other transactions in the queue, it will be processed quickly. Conversely, if the fee is significantly lower, the transaction will have to wait until its fee becomes competitive enough to be processed. +#### 2) ✅ Transaction Gets Confirmed +A transaction is considered successful when it is included in the blockchain. This inclusion occurs in batches called "**blocks**." 🧱 -### 2) Transaction Gets Confirmed +Each block typically holds a few thousand transactions. New blocks are constructed from a pool of pending transactions in the queue. Priority is given to transactions that pay higher fees. 🥇 -A transaction is considered successful when it is included in the blockchain. This inclusion occurs in batches called "blocks." +On the Bitcoin network, new blocks are added to the blockchain approximately every 10 minutes. On Ethereum, blocks are added roughly every 12 seconds. Each blockchain operates on its own schedule. ⏰ -Each block typically holds a few thousand transactions. New blocks are constructed from a pool of pending transactions in the queue. Priority is given to transactions that pay higher fees. +The time it takes for a transaction to be confirmed is directly proportional to the fee set by the sender and the current network conditions. If the blockchain is busy with many pending transactions, confirmation may take longer, requiring users to set higher fees for urgent payments. 🚀 -On the Bitcoin network, new blocks are added to the blockchain approximately every 10 minutes. On Ethereum, blocks are added roughly every 12 seconds. Each blockchain operates on its own schedule. +#### 3) 🔒 Transaction Is Final -The time it takes for a transaction to be confirmed is directly proportional to the fee set by the sender and the current network conditions. If the blockchain is busy with many pending transactions, confirmation may take longer, requiring users to set higher fees for urgent payments. +Once the transaction has been added to the blockchain, it is considered final. However, for certain blockchains, particularly Bitcoin, it is recommended to wait for a specific number of new blocks to be added after the initial confirmation before considering the transaction irreversible. 🔐 +When a transaction is added to the blockchain, it is said to have received **one confirmation**. As additional blocks are added, the number of confirmations increases. For instance, after the next block is added, the transaction will have two confirmations, and so on. 🔢 -### 3) Transaction Is Final +For large transactions, it is generally advisable to wait for at least **three confirmations** before considering the transaction fully secure and irreversible. For most regular payments, one confirmation should suffice. 💰 -Once the transaction has been added to the blockchain, it is considered final. However, for certain blockchains, particularly Bitcoin, it is recommended to wait for a specific number of new blocks to be added after the initial confirmation before considering the transaction irreversible. - -When a transaction is added to the blockchain, it is said to have received one confirmation. As additional blocks are added, the number of confirmations increases. For instance, after the next block is added, the transaction will have two confirmations, and so on. - -For large transactions, it is generally advisable to wait for at least three confirmations before considering the transaction fully secure and irreversible. For most regular payments, one confirmation should suffice. - -While it is theoretically possible to reverse a transaction after one confirmation, the likelihood of doing so diminishes significantly with each additional confirmation. \ No newline at end of file +While it is theoretically possible to reverse a transaction after one confirmation, the likelihood of doing so diminishes significantly with each additional confirmation. 📉 \ No newline at end of file diff --git a/src/edu/ru/fundamentals/wallets/crypto-wallet-explained.md b/src/edu/ru/fundamentals/wallets/crypto-wallet-explained.md index b7bc467..51d3f14 100644 --- a/src/edu/ru/fundamentals/wallets/crypto-wallet-explained.md +++ b/src/edu/ru/fundamentals/wallets/crypto-wallet-explained.md @@ -1,38 +1,42 @@ -# CRYPTO WALLETS EXPLAINED +# CRYPTO WALLETS 💼🔑 -In practice, when you self-custody cryptocurrency, you essentially become the owner of a unique “private key,” which grants you control over the cryptocurrency in a particular wallet. This key is not controlled by any entity other than yourself. However, anyone with access to that key can potentially spend the crypto assets it controls. +In practice, when you self-custody cryptocurrency, you essentially become the owner of a unique "**private key**," which grants you control over the cryptocurrency in a particular wallet. This key is not controlled by any entity other than yourself. However, anyone with access to that key can potentially spend the crypto assets it controls. 🔐 -Cryptocurrency wallet apps are tools designed to store and manage these private keys. These apps generate and securely store private keys, effectively making you your own bank. With that private key, crypto wallet apps such as Unstoppable make owning, receiving, and spending cryptocurrency much more manageable. These apps are referred to as non-custodial wallet apps. +Cryptocurrency wallet apps are tools designed to store and manage these private keys. These apps generate and securely store private keys, effectively making you **your own bank**. 🏦 With that private key, crypto wallet apps such as Unstoppable make owning, receiving, and spending cryptocurrency much more manageable. These apps are referred to as **non-custodial wallet apps**. 📱 -### Crypto Wallets vs Crypto Wallet Apps +#### Crypto Wallets vs Crypto Wallet Apps 🆚 While these terms are often used interchangeably in the non-custodial crypto world, it's important to understand the distinction between them: -- Crypto Wallet: Typically refers to a “digital” wallet that can store various cryptocurrencies and tokens. Each crypto wallet is controlled by a single private key. -- Crypto Wallet App: A piece of software, usually in the form of a mobile app or hardware device, that can generate and manage an unlimited number of crypto wallets. +- Crypto Wallet: Typically refers to a "digital" wallet that can store various cryptocurrencies and tokens. Each crypto wallet is controlled by a single private key. 💰 +- Crypto Wallet App: A piece of software, usually in the form of a mobile app or hardware device, that can generate and manage an unlimited number of crypto wallets. 📲 -### Custodial vs Non-custodial +#### Custodial🔓 vs Non-custodial🔒 -Not all wallet apps are non-custodial. There are also so-called “custodial” wallet apps that don’t grant you control. When using these wallets, you don’t genuinely own any crypto but instead rely on a third party to store, receive, and send cryptocurrency. +Not all wallet apps are non-custodial. There are also so-called "custodial" wallet apps that don't grant you control. When using these wallets, you don't genuinely own any crypto but instead rely on a third party to store, receive, and send cryptocurrency. 👥 -The entities behind custodial wallets can restrict your access to funds at any time. It’s not uncommon for custodial wallet providers to be hacked or simply disappear with users' funds. +The entities behind custodial wallets can restrict your access to funds at any time. It's not uncommon for custodial wallet providers to be hacked or simply disappear with users' funds. 😨 -It’s important to note that custodial wallet providers are not regulated financial entities like banks, which introduces a significant risk when using them. +It's important to note that custodial wallet providers are **not regulated financial entities** like banks, which introduces a significant risk when using them. ⚠️ -How do you identify a non-custodial wallet app? A non-custodial wallet app should provide you with a private key for every wallet it creates. This key is typically presented in the form of 12 (sometimes 18 or 24) English words, commonly known as a mnemonic phrase. Additionally, the wallet app should strongly encourage you to back up these words to ensure you can restore access to your wallet in case the app malfunctions or you lose your device. +How do you identify a non-custodial wallet app? A non-custodial wallet app should provide you with a private key for every wallet it creates. This key is typically presented in the form of 12 (sometimes 18 or 24) English words, commonly known as a **mnemonic phrase**. Additionally, the wallet app should strongly encourage you to back up these words to ensure you can restore access to your wallet in case the app malfunctions or you lose your device. 📝 -### Types of Non-Custodial Wallet Apps +#### Types of Non-Custodial Wallet Apps 🗂️ Non-custodial wallets come in various types. While all non-custodial wallets are designed for the secure storage of private keys, not all wallets are created equal. Understanding the types of non-custodial wallets is crucial for making informed choices about securing your cryptocurrency. -- ##### Hardware Wallets: +- **Hardware Wallets:** 💾 + While these are secure, they can be complex to use and are not suitable for daily transactions. They also have limited features, can be difficult to use, and are unfortunately easily identifiable as crypto storage devices. -- ##### Mobile Wallets: +- **Mobile Wallets:** 📱 + These offer a good balance between convenience, privacy, and security. While they may be less secure than hardware wallets, they are generally much easier to use and easier to conceal. -- ##### Desktop Wallets: -These are less secure compared to hardware or mobile wallets. Typically, it’s not recommended to keep large sums on a wallet that resides on your all-purpose desktop computer or laptop. +- **Desktop Wallets:** 💻 + +These are less secure compared to hardware or mobile wallets. Typically, it's not recommended to keep large sums on a wallet that resides on your all-purpose desktop computer or laptop. + +- **Browser Wallets:** 🌐 -- ##### Browser Wallets: -These are considered the least secure due to a wide array of potential security breaches. \ No newline at end of file +These are considered the **least secure** due to a wide array of potential security breaches. \ No newline at end of file diff --git a/src/edu/ru/fundamentals/wallets/hardware-wallets.md b/src/edu/ru/fundamentals/wallets/hardware-wallets.md index 08e2d2c..ce78e7f 100644 --- a/src/edu/ru/fundamentals/wallets/hardware-wallets.md +++ b/src/edu/ru/fundamentals/wallets/hardware-wallets.md @@ -1,54 +1,51 @@ -HARDWARE WALLETS +# HARDWARE WALLETS 💾 -Newcomers to cryptocurrency are often advised to use hardware wallets like Trezor or Ledger. While these wallets are secure in theory, they are far from ideal in practice. +Newcomers to cryptocurrency are often advised to use hardware wallets like Trezor or Ledger. While these wallets are secure in theory, they are **far from ideal** in practice. -There are several important considerations and risks associated with hardware wallets that are often overlooked. Let’s explore why hardware non-custodial wallets may not be as perfect as they seem. +There are several important considerations and risks associated with hardware wallets that are often overlooked. Let's explore why hardware non-custodial wallets may not be as perfect as they seem. 🕵️‍♀️ +#### 📚 Hardware Wallets in Theory -### Hardware Wallets in Theory +All non-custodial wallets—whether desktop apps, mobile apps, or hardware devices—share one crucial feature: they generate and store **private keys**, which are essential for owning and managing cryptocurrency. 🔑 -All non-custodial wallets—whether desktop apps, mobile apps, or hardware devices—share one crucial feature: they generate and store private keys, which are essential for owning and managing cryptocurrency. +In theory, hardware wallets are considered superior for key safety because it's generally more challenging to find vulnerabilities in a device built for a specific purpose by a small, focused team than in a general-purpose operating system like Windows, Android, or iOS. 🛡️ -In theory, hardware wallets are considered superior for key safety because it’s generally more challenging to find vulnerabilities in a device built for a specific purpose by a small, focused team than in a general-purpose operating system like Windows, Android, or iOS. - - -### Hardware Wallets in Practice +#### 🛠️ Hardware Wallets in Practice In reality, there are several practical issues that diminish the advantages of hardware wallets: -1) Purchase and Setup - -The process of buying and setting up a hardware wallet is still complicated and not very user-friendly, especially for those new to crypto. Security and privacy considerations—such as where to buy, which delivery address to use, and how to set up and back up the wallet—can be daunting. Many people mistakenly buy devices from unauthorized resellers or receive tampered devices, resulting in the loss of funds once they deposit their cryptocurrency. +1) 🛒 Purchase and Setup -2) Vendor Data Leaks +The process of buying and setting up a hardware wallet is still **complicated and not very user-friendly**, especially for those new to crypto. Security and privacy considerations—such as where to buy, which delivery address to use, and how to set up and back up the wallet—can be daunting. Many people mistakenly buy devices from unauthorized resellers or receive tampered devices, resulting in the loss of funds once they deposit their cryptocurrency. 😰 -There have been several cases where hardware wallet vendors had their client databases breached, exposing user names, emails, and physical addresses. This poses serious risks, particularly for high-net-worth individuals or those living in high-crime areas. +2) 💦 Vendor Data Leaks -3) Phishing Attacks +There have been several cases where hardware wallet vendors had their client databases breached, exposing user names, emails, and physical addresses. This poses serious risks, particularly for high-net-worth individuals or those living in high-crime areas. 🚨 -Once user data is exposed, those users become prime targets for phishing attacks. Hackers may send emails posing as the wallet vendor, often announcing updates or other notifications. Users should be extremely cautious with such emails and avoid updating unless absolutely necessary. +3) 🎣 Phishing Attacks -4) Ongoing Usage +Once user data is exposed, those users become prime targets for phishing attacks. Hackers may send emails posing as the wallet vendor, often announcing updates or other notifications. Users should be **extremely cautious** with such emails and avoid updating unless absolutely necessary. 🚫 -Hardware wallets are not well-suited for frequent use. If you store large amounts of cryptocurrency on a hardware wallet, carrying the device with you can pose a greater security risk than using a non-custodial mobile wallet, which is more convenient for regular transactions. +4) 🔄Ongoing Usage -5) Safe Storage of the Device +Hardware wallets are not well-suited for frequent use. If you store large amounts of cryptocurrency on a hardware wallet, carrying the device with you can pose a greater security risk than using a non-custodial mobile wallet, which is more convenient for regular transactions. 📱 -Users must keep the hardware wallet hidden and safe from damage, while also securely storing backups of the private keys separately. This can be more challenging than it seems and may even defeat the purpose of using a hardware wallet. +5) 🏦Safe Storage of the Device -6) Team Behind the Wallet +Users must keep the hardware wallet hidden and safe from damage, while also securely storing backups of the private keys separately. This can be more challenging than it seems and may even defeat the purpose of using a hardware wallet. 🤦‍♂️ -The qualifications of the team behind the hardware wallet are crucial. Established vendors like Trezor and Ledger have experienced teams, but newer or lesser-known brands may not offer the same level of security or reliability. +6) 👥Team Behind the Wallet -7) Lack of Features +The qualifications of the team behind the hardware wallet are crucial. Established vendors like Trezor and Ledger have experienced teams, but newer or lesser-known brands may not offer the same level of security or reliability. 🏢 -Hardware wallets often lack the additional features that are available in mobile wallets. The versatility of mobile operating systems allows for the integration of enhanced security features and tools that make ongoing usage and safe storage more manageable. For example, mobile wallets can offer biometric security, built-in exchanges, or multi-asset management, which aren’t available on most hardware devices. +7) 🛠️Lack of Features -8) Visibility and Discreetness +Hardware wallets often lack the additional features that are available in mobile wallets. The versatility of mobile operating systems allows for the integration of enhanced security features and tools that make ongoing usage and safe storage more manageable. For example, mobile wallets can offer biometric security, built-in exchanges, or multi-asset management, which aren't available on most hardware devices. 📲 -Hardware wallets are easily recognizable as cryptocurrency storage devices, which can attract unwanted attention and pose security risks, especially if carried around. +8) 👀Visibility and Discreetness +Hardware wallets are easily recognizable as cryptocurrency storage devices, which can attract unwanted attention and pose security risks, especially if carried around. 🕵️‍♂️ -Conclusion +#### 🎓Conclusion -While hardware wallets are often recommended for their security, they are not without significant drawbacks. For many users, especially those who are less technically experienced, the complexities and risks associated with hardware wallets may outweigh their theoretical benefits. \ No newline at end of file +While hardware wallets are often recommended for their security, they are **not without significant drawbacks**. For many users, especially those who are less technically experienced, the complexities and risks associated with hardware wallets may outweigh their theoretical benefits. ⚖️ \ No newline at end of file diff --git a/src/edu/ru/fundamentals/wallets/importing-wallets.md b/src/edu/ru/fundamentals/wallets/importing-wallets.md index 0f2e6b8..249c9db 100644 --- a/src/edu/ru/fundamentals/wallets/importing-wallets.md +++ b/src/edu/ru/fundamentals/wallets/importing-wallets.md @@ -1,14 +1,13 @@ -# IMPORTING WALLETS +# IMPORTING WALLETS 📥 -Migrating or importing a wallet from one non-custodial wallet app to another is a straightforward process, provided the apps are standards-compliant. In essence, any wallet created in a non-custodial wallet app should be universally compatible with other similar apps. +Migrating or importing a wallet from one non-custodial wallet app to another is a **straightforward process**, provided the apps are standards-compliant. In essence, any wallet created in a non-custodial wallet app should be universally compatible with other similar apps. 🔀 -This compatibility allows users to seamlessly switch between wallet apps without losing access to their funds. Remarkably, the same wallet can even be active on multiple apps simultaneously. +This compatibility allows users to seamlessly switch between wallet apps without losing access to their funds. Remarkably, the same wallet can even be active on multiple apps simultaneously. 🔗 -To restore or migrate a wallet, users only need the wallet's mnemonic phrase, often referred to as a seed phrase. If a passphrase was added during the wallet's creation, that too will be required. Using these, the wallet app can regenerate the deposit addresses for all supported cryptocurrencies, even if no transactions have been made on some addresses. Once the addresses are recognized, the app will scan the blockchain to identify and display the wallet's balances. +To restore or migrate a wallet, users only need the wallet's **mnemonic phrase**, often referred to as a seed phrase. If a passphrase was added during the wallet's creation, that too will be required. 🔑 Using these, the wallet app can regenerate the deposit addresses for all supported cryptocurrencies, even if no transactions have been made on some addresses. Once the addresses are recognized, the app will scan the blockchain to identify and display the wallet's balances. 🔍💰 -However, it’s important to note that if you are migrating a wallet containing multiple cryptocurrencies and tokens, only those supported by the destination wallet app will be accessible. For instance, if you’re migrating a wallet holding both Ethereum and Bitcoin to an Ethereum-only wallet app, only the Ethereum balance will be available. +However, it's important to note that if you are migrating a wallet containing multiple cryptocurrencies and tokens, only those supported by the destination wallet app will be accessible. For instance, if you're migrating a wallet holding both Ethereum and Bitcoin to an Ethereum-only wallet app, only the Ethereum balance will be available. ⚠️ +#### Bitcoin-Specific Considerations 🅱️ -### Bitcoin-Specific Considerations - -When migrating a wallet that holds Bitcoin (or Bitcoin Cash and Litecoin), you must ensure that the correct address type for the selected coin is specified. Many older wallets may use legacy address formats, while newer ones adopt updated formats. Certain wallet apps, like Unstoppable Wallet, support all address formats, simplifying the migration process. \ No newline at end of file +When migrating a wallet that holds Bitcoin (or Bitcoin Cash and Litecoin), you must ensure that the **correct address type** for the selected coin is specified. Many older wallets may use legacy address formats, while newer ones adopt updated formats. Certain wallet apps, like Unstoppable Wallet, support all address formats, simplifying the migration process. 🏛️➡️🆕 \ No newline at end of file diff --git a/src/edu/ru/fundamentals/wallets/must-haves-for-non-custodial-wallet.md b/src/edu/ru/fundamentals/wallets/must-haves-for-non-custodial-wallet.md index f4d9f46..749178c 100644 --- a/src/edu/ru/fundamentals/wallets/must-haves-for-non-custodial-wallet.md +++ b/src/edu/ru/fundamentals/wallets/must-haves-for-non-custodial-wallet.md @@ -1,55 +1,37 @@ -# MUST-HAVES FOR NON-CUSTODIAL WALLET +# MUST-HAVES FOR NON-CUSTODIAL WALLET 💼✅ -By now, you should have a solid understanding of self-custody and the roles non-custodial wallet apps play. The purpose of non-custodial wallet apps is to make the emerging concept of cryptocurrency self-custody easy and accessible for everyone. +By now, you should have a solid understanding of self-custody and the roles non-custodial wallet apps play. The purpose of non-custodial wallet apps is to make the emerging concept of cryptocurrency self-custody **easy and accessible** for everyone. 🌟 -While all non-custodial wallets are designed to securely store private keys, not all wallets are created equal. Building a robust non-custodial wallet is an expensive and complex engineering task. Users expect non-custodial wallet apps to be just as easy to use as the traditional financial apps they’re accustomed to. +While all non-custodial wallets are designed to securely store private keys, not all wallets are created equal. Building a robust non-custodial wallet is an **expensive and complex** engineering task. Users expect non-custodial wallet apps to be just as easy to use as the traditional financial apps they're accustomed to. 🛠️ -A well-engineered wallet is expected to strike a balance between security and ease of use. However, there are several factors to consider when evaluating which wallet to use. Let's explore some essential features that a good non-custodial crypto wallet app should offer: - - -1) #### Secure Enclave +A well-engineered wallet is expected to strike a balance between security and ease of use. However, there are several factors to consider when evaluating which wallet to use. Let's explore some **essential features** that a good non-custodial crypto wallet app should offer: +1) ##### 🔐Secure Enclave A secure enclave is a protected area in the wallet's hardware or software that provides an extra layer of security for handling private keys. Hardware wallets excel at this, but mobile wallet apps must leverage special-purpose mechanisms provided by Apple's iOS and Google's Android OS. This feature ensures that private keys are secure and inaccessible to malicious programs or apps that may infect a smartphone hosting the wallet app. +2) ##### 🔑Wallet Unlock Code +A well-engineered wallet app should have a properly implemented app unlock code mechanism for accessing the wallet app. This unlock code is designed to keep crypto assets secure even if someone gains physical access to the smartphone but doesn't know the wallet app's unlock code. -2) #### Wallet Unlock Code - -A well-engineered wallet app should have a properly implemented app unlock code mechanism for accessing the wallet app. This unlock code is designed to keep crypto assets secure even if someone gains physical access to the smartphone but doesn’t know the wallet app's unlock code. - - -3) #### Open Source - -Ideally, the wallet’s source code should be open for public scrutiny, allowing the community to verify its security and trustworthiness. Open-source code ensures that the app works as advertised and adheres to all essential security protocols for private key generation and management. Without this transparency, there’s no way to truly verify that the wallet app functions as claimed. Reputable websites such as two below list open-source crypto wallets: +3) ##### 👁️Open Source +Ideally, the wallet's source code should be open for public scrutiny, allowing the community to verify its security and trustworthiness. Open-source code ensures that the app works as advertised and adheres to all essential security protocols for private key generation and management. Without this transparency, there's no way to truly verify that the wallet app functions as claimed. Reputable websites such as two below list open-source crypto wallets: - https://bitcoin.org - https://walletscrutiny.com +4) ##### 🔄Cross-Wallet Interoperability +The wallet should follow industry standards, ensuring compatibility and ease of use across different wallets. This ensures that it's possible to migrate wallets created in one app to another wallet app and vice versa. -4) #### Cross-Wallet Interoperability - -The wallet should follow industry standards, ensuring compatibility and ease of use across different wallets. This ensures that it’s possible to migrate wallets created in one app to another wallet app and vice versa. - - -5) #### Multi-Coin Support - +5) ##### 🌐Multi-Coin Support The wallet app should support multiple cryptocurrencies within a single wallet, rather than requiring separate wallets for each cryptocurrency. - -6) #### Multi-Wallet Capability - +6) ##### 📚Multi-Wallet Capability The ability to create and manage an unlimited number of multi-coin wallets within a single wallet app. +7) ##### 💾Fail-Safe Backup Procedure +A good wallet must ensure that users properly back up private keys (mnemonic phrases). Most wallets recommend offline backups and encourage users to write down the mnemonic phrase for each wallet on paper. However, this method may not be convenient or safe for the majority of mainstream users. A more user-friendly and fail-safe approach is to provide an additional option for encrypted backup to the cloud (e.g., Apple's iCloud or Google Drive). -7) #### Fail-Safe Backup Procedure - -A good wallet must ensure that users properly back up private keys (mnemonic phrases). Most wallets recommend offline backups and encourage users to write down the mnemonic phrase for each wallet on paper. However, this method may not be convenient or safe for the majority of mainstream users. A more user-friendly and fail-safe approach is to provide an additional option for encrypted backup to the cloud (e.g., Apple’s iCloud or Google Drive). - - -8) #### Duress Mode - -As cryptocurrency becomes more mainstream and more people carry it around, it’s increasingly important to consider scenarios where users are forced to open their wallet apps by malicious actors. A good wallet app should account for this and implement features that allow users to hide certain wallets when under duress. - - -9) #### Ease of Use +8) ##### 🚨Duress Mode +As cryptocurrency becomes more mainstream and more people carry it around, it's increasingly important to consider scenarios where users are forced to open their wallet apps by malicious actors. A good wallet app should account for this and implement features that allow users to hide certain wallets when under duress. +9) ##### 🤳Ease of Use Many wallet apps are complicated to use and not accessible to the mainstream audience. Therefore, when choosing a wallet app, opt for one that you find intuitive. The more complex the wallet is to use, the higher the chance of making a mistake. \ No newline at end of file diff --git a/src/edu/ru/fundamentals/wallets/wallet-backup-is-critical.md b/src/edu/ru/fundamentals/wallets/wallet-backup-is-critical.md index 24b5ee8..a23c56a 100644 --- a/src/edu/ru/fundamentals/wallets/wallet-backup-is-critical.md +++ b/src/edu/ru/fundamentals/wallets/wallet-backup-is-critical.md @@ -1,44 +1,44 @@ -# WALLET BACKUP IS CRITICAL +# WALLET BACKUP IS CRITICAL 🔒💾 -Without a backup, there is no way to recover your assets, as no third party retains a copy of your private key. Backing up your crypto wallet essentially means securing the private key associated with it. +Without a backup, there is **no way to recover your assets**, as no third party retains a copy of your private key. Backing up your crypto wallet essentially means securing the private key associated with it. 🔑 -For wallets set up without a passphrase, this involves backing up the mnemonic phrase alone. However, for wallets where the private key is consists of a mnemonic phrase and a passphrase, both components must be backed up to ensure full recovery in case of loss. +For wallets set up without a passphrase, this involves backing up the mnemonic phrase alone. However, for wallets where the private key consists of a mnemonic phrase and a passphrase, **both components must be backed up** to ensure full recovery in case of loss. 📝 +#### 📄 Offline Backup -### Offline Backup +A common and recommended practice is to write down the mnemonic phrase (and the passphrase, if used) on paper for safe offline storage. This method is secure if done correctly, taking all necessary precautions to prevent loss or theft. However, it's not uncommon for people to misplace or damage these physical backups, leading to potential loss of funds. 😰 -A common and recommended practice is to write down the mnemonic phrase (and the passphrase, if used) on paper for safe offline storage. This method is secure if done correctly, taking all necessary precautions to prevent loss or theft. However, it’s not uncommon for people to misplace or damage these physical backups, leading to potential loss of funds. +It's important to recognize that needing a physical backup might seem to contradict the security provided by hardware wallets. If you have a hardware wallet—a device designed to store private keys securely—having a physical copy of the key can introduce a point of vulnerability. However, a well-engineered smartphone wallet can be just as secure, provided that physical backups are managed carefully. 📱🔐 -It’s important to recognize that needing a physical backup might seem to contradict the security provided by hardware wallets. If you have a hardware wallet—a device designed to store private keys securely—having a physical copy of the key can introduce a point of vulnerability. However, a well-engineered smartphone wallet can be just as secure, provided that physical backups are managed carefully. +Ensuring the physical storage of your backup is both **secure and discreet** is essential. If someone else finds and accesses your written mnemonic or passphrase, they could potentially steal your funds. You should also consider environmental risks like floods or fires, which could destroy your physical backup. Specialized backup tools like metal plates designed for this purpose can be a safer option than just paper. 🔥💧 -Ensuring the physical storage of your backup is both secure and discreet is essential. If someone else finds and accesses your written mnemonic or passphrase, they could potentially steal your funds. You should also consider environmental risks like floods or fires, which could destroy your physical backup. Specialized backup tools like metal plates designed for this purpose can be a safer option than just paper. +#### ☁️ Online Backup +Some wallets allow you to back up an encrypted version of the mnemonic phrase to cloud storage. In these cases, you will be asked to set up an additional encryption password to secure the mnemonic. Even if a wallet does not provide this feature, you can still manually back up your data online. 🔒 -### Online Backup +Generally, storing wallet backups online (e.g., in iCloud or Google Drive) or on offline digital storage devices (such as a USB thumb drive) is considered less secure by many experts. However, with the right precautions, it can be a viable option: -Some wallets allow you to back up an encrypted version of the mnemonic phrase to cloud storage. In these cases, you will be asked to set up an additional encryption password to secure the mnemonic. Even if a wallet does not provide this feature, you can still manually back up your data online. +1) 🔐 **Use Encryption** -Generally, storing wallet backups online (e.g., in iCloud or Google Drive) or on offline digital storage devices (such as a USB thumb drive) is considered less secure by many experts. However, with the right precautions, it can be a viable option: + When backing up online, it is crucial to use encryption. This involves setting an encryption password that will protect the backup file. Encryption ensures that your mnemonic remains secure, even if the digital backup location is compromised. -1) Use Encryption -When backing up online, it is crucial to use encryption. This involves setting an encryption password that will protect the backup file. Encryption ensures that your mnemonic remains secure, even if the digital backup location is compromised. +2) 🔑 **Keep the Encryption Password Safe** -2) Keep the Encryption Password Safe + It's essential not to lose the encryption password, as it will be required to decrypt the backup file. It can be stored offline. If your wallet uses a mnemonic phrase plus a passphrase, you might consider using the passphrase as your encryption password. This simplifies the process by reducing the number of passwords you need to remember. -It’s essential not to lose the encryption password, as it will be required to decrypt the backup file. It can be stored offline. If your wallet uses a mnemonic phrase plus a passphrase, you might consider using the passphrase as your encryption password. This simplifies the process by reducing the number of passwords you need to remember. -3) Secure Your Accounts +3) 🛡️ **Secure Your Accounts** -If you back up to services like Google Drive or Apple’s iCloud, make sure your Apple or Google account is protected by a strong password. + If you back up to services like Google Drive or Apple's iCloud, make sure your Apple or Google account is protected by a strong password. -4) Do Not Rely On Provider -It might also be wise to store digital backups in multiple locations to avoid losing access to a particular service.Remember that companies like Apple or Google can potentially lock you out of your account according to their terms of service. +4) ⚠️ **Do Not Rely On Provider** + It might also be wise to store digital backups in multiple locations to avoid losing access to a particular service. Remember that companies like Apple or Google can potentially lock you out of your account according to their terms of service. -### General Backup Tips +#### 💡 General Backup Tips -For wallets created using a combination of a mnemonic phrase and a passphrase, it is advisable to store the passphrase separately from the mnemonic. This way, even if someone finds the mnemonic, they won’t be able to access your wallet without the passphrase. For example, you could store the mnemonic in the cloud or offline and keep the passphrase in a different secure location. +For wallets created using a combination of a mnemonic phrase and a passphrase, it is advisable to store the passphrase **separately from the mnemonic**. This way, even if someone finds the mnemonic, they won't be able to access your wallet without the passphrase. For example, you could store the mnemonic in the cloud or offline and keep the passphrase in a different secure location. 🗝️ -In most cases, only one backup copy is recommended because the wallet typically remains accessible on the device or app you are using, whether it’s a hardware wallet or a smartphone app. However, if no copy of the wallet is accessible on any device or app, then having two backup copies stored separately might be necessary. \ No newline at end of file +In most cases, only one backup copy is recommended because the wallet typically remains accessible on the device or app you are using, whether it's a hardware wallet or a smartphone app. However, if no copy of the wallet is accessible on any device or app, then having **two backup copies** stored separately might be necessary. 2️⃣ \ No newline at end of file diff --git a/src/edu/ru/fundamentals/wallets/wallet-creation-explained.md b/src/edu/ru/fundamentals/wallets/wallet-creation-explained.md index bc48820..b88b755 100644 --- a/src/edu/ru/fundamentals/wallets/wallet-creation-explained.md +++ b/src/edu/ru/fundamentals/wallets/wallet-creation-explained.md @@ -1,34 +1,31 @@ -# WALLET CREATION EXPLAINED +# WALLET CREATION EXPLAINED 🔐💼 -When creating a new cryptocurrency wallet, one of the first steps involves the generation of a private key. +When creating a new cryptocurrency wallet, one of the first steps involves the generation of a **private key**. 🔑 -This key is randomly generated directly on the user’s device, ensuring that it remains completely private and secure. The randomness of this generation process is critical, as it must adhere to strict, well-documented standards to guarantee the key's security and unpredictability. +This key is randomly generated directly on the user's device, ensuring that it remains **completely private and secure**. The randomness of this generation process is critical, as it must adhere to strict, well-documented standards to guarantee the key's security and unpredictability. 🎲 -The private key is never stored anywhere outside the user’s control; it exists solely on the device and is only known to the user. Due to the high level of randomness and complexity involved, guessing or reproducing a private key is virtually impossible, making it a highly secure way to protect digital assets. +The private key is never stored anywhere outside the user's control; it exists solely on the device and is only known to the user. Due to the high level of randomness and complexity involved, guessing or reproducing a private key is **virtually impossible**, making it a highly secure way to protect digital assets. 🛡️ +#### 📝 Mnemonic Phrases -### Mnemonic Phrases +Upon setting up a new non-custodial wallet, users are presented with a newly generated private key. To make the storage and management of this key more practical and user-friendly, it is represented in the form of a **12-word mnemonic phrase**. This phrase is a human-readable way to encode the private key, making it easier for users to securely store and retrieve their keys without the need to manage complex strings of characters. 🧠 -Upon setting up a new non-custodial wallet, users are presented with a newly generated private key. To make the storage and management of this key more practical and user-friendly, it is represented in the form of a 12-word mnemonic phrase. This phrase is a human-readable way to encode the private key, making it easier for users to securely store and retrieve their keys without the need to manage complex strings of characters. +Mnemonic phrases play a crucial role in simplifying the safe storage of private keys, ensuring that users can manage their cryptocurrency assets with confidence and ease. 💪 -Mnemonic phrases play a crucial role in simplifying the safe storage of private keys, ensuring that users can manage their cryptocurrency assets with confidence and ease. +#### 🔬 Advanced Mnemonic Phrases +Some wallet applications or devices offer users the option to customize the **length of their mnemonic phrase** during the wallet setup process. While the default length is typically 12 words, users can choose to extend this to 15, 18, 21, or even 24 words. 📏 -### Advanced Mnemonic Phrases +Although a 12-word phrase is generally recommended for most users due to its widespread compatibility and ease of use, opting for a longer phrase can provide an additional layer of security. Note that a 12-word long passphrase is sufficiently secure. However, choosing a 12-word phrase ensures greater compatibility across various third-party wallets, making it easier to migrate or recover wallets if needed. 🔄 -Some wallet applications or devices offer users the option to customize the length of their mnemonic phrase during the wallet setup process. While the default length is typically 12 words, users can choose to extend this to 15, 18, 21, or even 24 words. +In addition to the length, some wallets also allow users to select the **language of their mnemonic phrases**. While multiple languages may be available, it is highly recommended to use English words. This is because English mnemonic phrases are more universally supported, ensuring greater compatibility with a wider range of wallet apps and services. 🌍 -Although a 12-word phrase is generally recommended for most users due to its widespread compatibility and ease of use, opting for a longer phrase can provide an additional layer of security. Note that a 12-word long passphrase is sufficiently secure. However, choosing a 12-word phrase ensures greater compatibility across various third-party wallets, making it easier to migrate or recover wallets if needed. +#### 🔐 Mnemonic + Passphrases -In addition to the length, some wallets also allow users to select the language of their mnemonic phrases. While multiple languages may be available, it is highly recommended to use English words. This is because English mnemonic phrases are more universally supported, ensuring greater compatibility with a wider range of wallet apps and services. +Advanced wallet applications may also offer the option to enhance security further by combining a mnemonic phrase with an additional passphrase. This approach, while not typically recommended for beginners due to its complexity, offers significant benefits for more experienced users. 🧑‍🔬 +With a mnemonic plus passphrase setup, a user can generate **multiple wallets** from a single mnemonic phrase by using different passphrases. 🔀 -### Mnemonic + Passphrases +For instance, a user might create one wallet without a passphrase and another wallet with the same mnemonic phrase but with a specific passphrase added. Despite sharing the same mnemonic, these wallets remain entirely separate and independent from one another. This method allows for the creation of multiple wallets that can be kept discreetly or used for different purposes. 🕵️‍♀️ -Advanced wallet applications may also offer the option to enhance security further by combining a mnemonic phrase with an additional passphrase. This approach, while not typically recommended for beginners due to its complexity, offers significant benefits for more experienced users. - -With a mnemonic plus passphrase setup, a user can generate multiple wallets from a single mnemonic phrase by using different passphrases. - -For instance, a user might create one wallet without a passphrase and another wallet with the same mnemonic phrase but with a specific passphrase added. Despite sharing the same mnemonic, these wallets remain entirely separate and independent from one another. This method allows for the creation of multiple wallets that can be kept discreetly or used for different purposes. - -Additionally, combining a passphrase with a mnemonic phrase makes it safer to store backups of the mnemonic. For example, even if a backup stored online or offline is compromised and someone gains access to the mnemonic phrase, they would still be unable to access the wallet without the corresponding passphrase. This added layer of security ensures that users can protect their assets even in the event of a mnemonic phrase leak. \ No newline at end of file +Additionally, combining a passphrase with a mnemonic phrase makes it **safer to store backups** of the mnemonic. For example, even if a backup stored online or offline is compromised and someone gains access to the mnemonic phrase, they would still be unable to access the wallet without the corresponding passphrase. This added layer of security ensures that users can protect their assets even in the event of a mnemonic phrase leak. 🔒 \ No newline at end of file