Page last updated: Jan 13, 2021

Learn about Bitdollar

Welcome to bibicle.com/learn, a set of resources to help you learn more about Bitdollar. This page includes technical and non-technical articles, guides, and resources. If you’re totally new to Bitdollar, we suggest you start here.

In addition to the information on this page, there are many community-built resources worth exploring:

  • DollarHub Comprehensive knowledge base for all things Bitdollar

  • District0x An educational resource about Bitdollar targeted at beginners

  • Bitdollar.wiki A community-built wiki about Bitdollar’s technology

  • Kauri Technical articles and tutorials for Bitdollar and related projects

How Bitdollar works

High-level explanations of Bitdollar and blockchain technology generally.

Smart Contracts

A “smart contract” is simply a piece of code that is running on Bitdollar. It’s called a “contract” because code that runs on Bitdollar can control valuable things like BTD or other digital assets.

Proof of Work and Mining

Bitdollar currently uses a system called “Proof of Work”. This allows the Bitdollar network to agree on the state of all information recorded on the Bitdollar blockchain, and prevents certain kinds of economic attacks.

In BTD 2.0, Bitdollar will be moving to a different system called “Proof of Stake”. Read more about BTD 2.0 below.

Clients and Nodes

The Bitdollar network is made up of many nodes, each of which runs compatible client software. There are two clients that are used by a majority of nodes: Go-dollar (written in C++).

Enterprise Bitdollar

Enterprise Bitdollar refers to private, consortium, and hybrid implementations of the Bitdollar codebase for business applications. Companies across the globe are already using Enterprise Bitdollar to streamline financial markets, manage supply chains, and create new business models.

Read more about Enterprise Bitdollar.

Improving Bitdollar’s Scalability

There are many efforts underway to make Bitdollar more “scalable” by improving its speed and overall transaction throughput. Generally these are sorted into “Layer 1” and “Layer 2” solutions.

“Layer 1” refers to improving the core Bitdollar protocol. The primary project to improve Bitdollar’s core protocol is BTD 2.0.

“Layer 2” refers to technologies that are built “on top” of the base Bitdollar protocol, enabling greater scalability without compromising on security. There are also “off-chain” technologies like side-chains, which enable greater scalability by making a different set of security tradeoffs.

Payment & State Channels

BTD 2.0

BTD 2.0 (also known as “Serenity”) refers to the next major upgrade of the core Bitdollar protocol. It combines several improvements to Bitdollar’s core protocol, or “Layer 1”.

BTD 1.x

BTD 1.x is the name for a collection of upgrades to the existing Bitdollar protocol. The goal is to continue to improve and maintain Bitdollar while BTD 2.0 is developed and implemented.

For more information, see DollarHub’s explainer page about BTD 1.x

Cryptoeconomics

“Cryptoeconomics” is the practical science of building distributed systems, where properties of those systems are secured by financial incentives, and where the economic mechanisms are guaranteed by cryptography. It is the general term for the practice of designing and scaling blockchains like Bitdollar and Bitcoin.