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Protocols: Bitcoin

What is Hashprice?Hashprice is the market’s shorthand for a simple but powerful question: how much revenue should a given amount of Bitcoin hashrate earn today? That number sits at the center of mining economics, linking block rewards, fees, difficulty, and bitcoin’s price into a single unit miners, pools, and derivatives traders can actually use

What is Hashprice?Hashprice is the market’s shorthand for a simple but powerful question: how much revenue should a given amount of Bitcoin hashrate earn today? That number sits at the center of mining economics, linking block rewards, fees, difficulty, and bitcoin’s price into a single unit miners, pools, and derivatives traders can actually use.Mar 22, 202622 min read

What Is Taproot?Taproot is Bitcoin’s upgrade for making many complex spending conditions look like an ordinary payment unless complexity actually needs to be revealed

What Is Taproot?Taproot is Bitcoin’s upgrade for making many complex spending conditions look like an ordinary payment unless complexity actually needs to be revealed. It combines Schnorr signatures, key tweaking, and Merklized scripts to improve privacy, reduce on-chain footprint for many advanced uses, and open a cleaner path for future script upgrades.Mar 21, 202622 min read

What Is an Unspent Transaction Output (UTXO) in Bitcoin?Bitcoin does not track balances the way a bank does

What Is an Unspent Transaction Output (UTXO) in Bitcoin?Bitcoin does not track balances the way a bank does. It tracks discrete chunks of spendable value called Unspent Transaction Outputs, and that design choice explains how Bitcoin prevents double-spending, creates change, and shapes wallet privacy, fees, and node performance.Mar 21, 202623 min read

What is SegWit?SegWit changed Bitcoin in a way that looks small in the transaction format but large in its consequences

What is SegWit?SegWit changed Bitcoin in a way that looks small in the transaction format but large in its consequences. By moving signatures into a separate witness structure, it reduced a major source of transaction malleability, changed how block space is measured, and created a cleaner path for upgrades like Taproot.Mar 21, 202623 min read

What Are State Channels?State channels are a way to use a blockchain without asking the blockchain to process every step

What Are State Channels?State channels are a way to use a blockchain without asking the blockchain to process every step. On Bitcoin, that idea shows up most clearly in payment channels and the Lightning Network: parties update balances off-chain, then fall back to the chain only when they need settlement or dispute resolution.Mar 21, 202625 min read

What is Replace-By-Fee?Replace-By-Fee matters because a Bitcoin transaction is not truly final when it is merely seen on the network

What is Replace-By-Fee?Replace-By-Fee matters because a Bitcoin transaction is not truly final when it is merely seen on the network. RBF formalizes that reality by letting an unconfirmed transaction be replaced with a higher-fee version, which helps stuck payments confirm but also changes how wallets and merchants should think about zero-confirmation trust.Mar 21, 202624 min read

What Are Payment Channels?Payment channels solve a very specific problem: blockchains are good at final settlement, but poor at handling every small back-and-forth payment directly

What Are Payment Channels?Payment channels solve a very specific problem: blockchains are good at final settlement, but poor at handling every small back-and-forth payment directly. By locking funds once on-chain and updating balances off-chain, channels make fast, low-fee payments possible without giving up the blockchain as the final judge.Mar 21, 202625 min read

What is Runes?Runes is a Bitcoin-native fungible token protocol built around the UTXO model and compact `OP_RETURN` messages

What is Runes?Runes is a Bitcoin-native fungible token protocol built around the UTXO model and compact `OP_RETURN` messages. Its appeal is not that it makes tokens possible on Bitcoin, but that it tries to do so with fewer moving parts, less indexing guesswork, and a smaller on-chain footprint than earlier approaches.Mar 21, 202623 min read

What is Miniscript?Miniscript is a way to write complex Bitcoin spending conditions without treating Bitcoin Script like hand-crafted bytecode

What is Miniscript?Miniscript is a way to write complex Bitcoin spending conditions without treating Bitcoin Script like hand-crafted bytecode. Its importance is not that it adds new powers, but that it makes existing Script policies analyzable, composable, and much safer for wallets and tools to handle.Mar 21, 202624 min read

What Is OP_RETURN?OP_RETURN is Bitcoin’s built-in way to put small pieces of data into a transaction without pretending that output will ever be spent

What Is OP_RETURN?OP_RETURN is Bitcoin’s built-in way to put small pieces of data into a transaction without pretending that output will ever be spent. Its importance is not that it stores data cheaply, but that it does so in a form nodes can recognize as unspendable, which avoids polluting the UTXO set.Mar 21, 202622 min read

What is Ordinals?Ordinals make an odd claim: on Bitcoin, every satoshi can be treated as a distinct object, not just part of a balance

What is Ordinals?Ordinals make an odd claim: on Bitcoin, every satoshi can be treated as a distinct object, not just part of a balance. That simple numbering idea turns fungible units into trackable carriers for collectibles, inscriptions, and other assets—without changing Bitcoin itself.Mar 21, 202622 min read

What Is Bitcoin Halving?Bitcoin halving is the rule that cuts new bitcoin issuance in half every 210,000 blocks

What Is Bitcoin Halving?Bitcoin halving is the rule that cuts new bitcoin issuance in half every 210,000 blocks. It matters because it links Bitcoin’s supply, miner incentives, and long-term security into a single mechanism: fewer new coins over time, and eventually a network funded mainly by transaction fees.Mar 21, 202619 min read