Modular arithmetic involves calculations that wrap around upon reaching a certain value, called the modulus. Instead of continuing to count up indefinitely, numbers reset to zero after hitting this threshold.In a simple form, if we take numbers modulo 6, the sequence proceeds as follows: 0, 1, 2, 3, 4, 5, and then back to 0. This cyclical behavior is vital for various operations.In cryptocurrencies, modular arithmetic helps maintain security and efficiency in processes like hashing and creating signatures. Many cryptographic algorithms rely on the properties of modular arithmetic to ensure that computations remain manageable and secure.For instance, in generating public and private keys, modular arithmetic provides a way to produce unique keys that are easy to compute but hard to reverse-engineer. It prevents predictable patterns, enhancing the overall safety of transactions.Overall, modular arithmetic is a fundamental concept that supports the functioning and security of various technologies used in digital assets.
Bit Digital Acquires 31,057 ETH Through $150M Convertible Notes Offering
Bit Digital Inc. (Nasdaq: BTBT) has purchased 31,057 Ether (ETH) using proceeds from its recently completed $150 million convertible notes