Cryptocurrency Software Application with Java is simple and basically made to understand the logic of crypto money. Typically crypto coins are written in low-level programming languages such as C ++. A crypto money written in Java does not exist yet. C ++ programming language is called low level; close to system resources and active software can be done. Crypto coins, in particular those requiring mining, require a lot of system resources. Bitcoin, which is the first crypto money, is very strongly encoded in C ++.
Bitcoin’s inventor, Satoshi Nakamoto (probably Australian businessman Craig Wright), says he was developing a bitconn by being affected by the US mortgage crisis in 2008. Perhaps Mr. Nakamoto has solved the balloon system in the economy. Everything is based on trust and value balloon. USA. in the mortgage crisis; anyone could easily own property with very long-term loans. The property prices were perhaps more than three times the swelling, because it could easily be bought on the property. The Bank has sold and sold funds and valuable papers through these loans. As the prices of the properties were over-valued, the owners could easily borrow high-volume loans. When the credits were not repaid, the balloon started to explode. Real estates went down to their real value and the papers were in the hands of the banks.
In fact, all economies work on “value balloon” and trust. The economies are looking for a value balloon to grow. This value is the oldest balloon gold, real estate, oil, dollars. All of this is actually valuable because people value it. Here’s the crypto coins, especially Bitcoin, which is moving rapidly towards becoming a value bubble. As it proves its technology and gains confidence, it is a big and long-term büyük value balloon ispat.
Cryptocurrency system; It is a system that is formed by the combination of many different technologies. Cryptology consists of P2P network, IPFS, Consensus algorithms.
The hash functions are used in crypto money systems. Summary algorithms such as sha256 return irreversible very large entries to fixed 256-bit unique values. Block detection in crypto money mining; starting with zero is to find sha256 summary. How many side-by-side to begin with a summary determines the level of difficulty. For example, Bitcoin Diamond difficulty is reported as 116547.766953407. The bitcoin difficulty level is based on a block of ten minutes. If a block is found in less than ten minutes, the difficulty level for the next block is automatically increased.
Point-to-point network is one of the basic systems of centralized block chain application. P2P connections creates miners and network nodes in the crypto-money system. Network nodes store the entire block chain. Miners manage the process of money production and approval of transactions.
IPFS distributed web. A decentralized new Internet system. As it is known, we need an internet service server hosting to publish a website on the internet. IPFS shares this Internet service through decentralized distributed individual user computers. If this gets widespread the web will change a lot. Crypto coins use this system to publish the block chain.
Unspent Transaction Outputs (UTXOs) ?
UTXO; non-transactional transaction. The output of a transaction in the crypto money system will be the input of a later process. The sum of UTXOs is in some way the balance in your account.
Designers of cryptocurrency determine the rules of consensus. It is called consensus that all miners and nodes, ie all block chain copies, that have changed and changed the block chain in the crypto money network, are the same. If there is a difference, bifurcation occurs in the block chain. The entire network of crypto money system is called a consensus network layer.
The developers of cryptocurrency from time to time want to make changes on the system. This change must be accepted by the entire consensus network. If not, the block chain is divided. Bifurcation is called hard fork. Bitcoin hard forks Bitcoin Cash, Bitcoin Diamond, Bitcoin Gold etc.
The first block produced. Since everything has a beginning, the block chain has a beginning. This is special. Because in the logic of the crypto money, the outputs of the previous transactions should be inputs of other new transactions. Therefore, the first block produced specifically is called the genesis block.
The source code of the cryptocurrency software application with Java is available at https://github.com/nakitasarim/FreeCoin . There is no P2P, consensus layer of crypto money in the application. It was made to understand the concept of block chain. Block, transaction, wallet, miner and cryptology operations are available.
The difficulty level in the Miner.java file is set to difficulty = 5. This means; The first 5 characters of the hash values start with zero. This is the problem to be solved in crypto coin. You can test the difficulty of the process by increasing the degree of difficulty here.
The miners on my site earn cryptocurrency when they find a new block. At the same time, they approve the money transfer transactions at that time. In return, they earn money.
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