Traceability of payment transactions (e.g., Bitcoin) Traceability of identities (e.g., Civic) Extreme anonymization of transactions (e.g., ZCash, Monero) P2P Network¶. This section describes the Bitcoin P2P network protocol (but it is not a specification).It does not describe the discontinued direct IP-to-IP payment protocol, the deprecated BIP70 payment protocol, the GetBlockTemplate mining protocol, or any network protocol never implemented in an official version of Bitcoin Core.. All peer-to-peer communication occurs entirely over TCP. P2Pool is a decentralized Bitcoin mining pool that works by creating a peer-to-peer network of miner nodes.. P2Pool creates a new block chain in which the difficulty is adjusted so a new block is found every 30 seconds. The blocks that get into the P2Pool block chain (called the "share chain") are the same blocks that would get into the Bitcoin block chain, only they have a lower difficulty ... Bitcoin mining is the process of adding transaction records to Bitcoin's public ledger of past transactions or blockchain. This ledger of past transactions is called the block chain as it is a chain of blocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Faucet: A website that offer free bitcoin for completing a simple task, such as clicking on an advert. Hot wallet: An internet connected wallet. IPO: Initial Public Offering. Mining: A way of generating new bitcoins. P2P: Peer-to-peer. Satoshi: The smallest subdivision of a bitcoin (0.00000001BTC)
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