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Cbp study guide 1 Preparing for the Certi ?ed Bitcoin Professional CBP Exam This guide is meant to focus your preparation not provide an exhaustive list of all possible test materials Bitcoin moves fast and our exams are updated regularly For CBP purposes

Preparing for the Certi ?ed Bitcoin Professional CBP Exam This guide is meant to focus your preparation not provide an exhaustive list of all possible test materials Bitcoin moves fast and our exams are updated regularly For CBP purposes you don ? t need to know how to implement the tech but you will need to understand the basic features what problems those features solve and what problems they don ? t solve History of Money and Ledger ? based Economics Centralized Ledgers Understand what a centralized ledger is and how money has been organized on centralized ledgers in the modern digital economy Functions of Currency Distinguish between functions of currencies such as unit of account store of value and medium of exchange Distributed Consensus De ?ne ??distributed consensus ? and explain what makes bitcoin ? s ledger di ?erent from centralized ledgers History of Bitcoin Read the bitcoin protocol white paper Know about major events a ?ecting bitcoin since its creation such as the failures of early exchanges who and why and the birth of altcoins Price Derivation Understand how the price of bitcoin is derived Basic Cryptography Terms and De ?nitions De ?ne and accurately use basic cryptographic terms such as cryptography encryption algorithm decryption algorithm symmetric vs asymmetric encryption cipher vs plain text Hash Functions Explain the purpose of hash functions how they are used in bitcoin and how their inputs are related to their outputs Symmetric and Asymmetric Encryption Distinguish between symmetric and asymmetric encryption algorithms Understand the principles of asymmetric encryption and the impact it has on key exchange Digital Signatures Understand the basics of digital signatures why and how they are used in bitcoin Understand the relationship between digital signatures and asymmetric keys Bitcoin Basics Bitcoin Community Understand how users advocates developers businesses and governments impact the Bitcoin Protocol Explain what types of institutions are actively involved in promoting maintaining or lobbying on behalf of the industry Bitcoin Addresses and Keys Understand how bitcoin addresses and keys are generated Explain the relationship between bitcoin addresses public keys and private keys distinguish between them and describe the primary use of each In terms of addresses and keys describe how funds are accessed and transferred on the bitcoin network Bitcoin Transactions Describe a bitcoin transaction in terms of inputs and outputs Explain why a simple bitcoin transaction is irreversible Understand the basics of transaction fees Bitcoin Blockchain Ledger Explain how bitcoin ? s blockchain functions as a public ledger What information is public bitcoin the Unit Know and understand the denominations of bitcoin and their relation to one another e g millibit satoshi Explain the di ?erence between Bitcoin capitalized B and bitcoin Recognize other commonly used symbols referring to bitcoin as a digital currency Copyright c CryptoCurrency Certi ?cation Consortium C See terms of license CBitcoin the Network Understand network basics such as how the network is connected and the importance of independent nodes in the structure Explain common network attacks such as DDoS and