tinychain | A pocket-sized implementation of Bitcoin | Blockchain library

tinychain is a Python library typically used in Blockchain, Bitcoin applications. tinychain has no bugs, it has no vulnerabilities, it has build file available, it has a Permissive License and it has medium support. You can download it from GitHub.

In brief terms that map to this code... Bitcoin is a way of generating pseudo-anonymous, decentralized trust at the cost of electricity. The most commonly known (but not sole) application of this is as a currency or store of value. If that sounds abstruse, general, and mindblowing, that's because it is. In Bitcoin, value is recorded using a Transaction, which assigns some number of coins to an identity (via TxOuts) given some cryptographically unlocked TxIns. TxIns must always refer to previously created but unspent TxOuts. A Transaction is written into history by being included in a Block. Each Block contains a data structure called a Merkle Tree which generates a fingerprint unique to the set of Transactions being included. The root of that Merkle tree is included in the block "header" and hashed (Block.id) to permanently seal the existence and inclusion of each Transaction in the block. Blocks are linked together in a chain (active_chain) by referring to the previous Block header hash. In order to add a Block to the chain, the contents of its header must hash to a number under some difficulty target, which is set based upon how quickly recent blocks have been discovered (get_next_work_required()). This attempts to normalize the time between block discovery. When a block is discovered, it creates a subsidy for the discoverer in the form of newly minted coins. The discoverer also collects fees from transactions included in the block, which are the value of inputs minus outputs. The block reward subsidy decreases logarithmically over time. Eventually the subsidy goes to zero and miners are incentivized to continue mining purely by a fee market. Nodes in the network are in a never-ending competition to mine and propagate the next block, and in doing so facilitate the recording of transaction history. Transactions are submitted to nodes and broadcast across the network, stored temporarily in mempool where they are queued for block inclusion. For more comprehensive descriptions of Bitcoin, see.