July 3, 2018

<WebOfficeHours/>

All-time high ~$19,783

January 2009

Satoshi Nakamoto

Satoshi Nakamoto ?

history of bitcoin

What is blockchain?

What is bitcoin?

What is blockchain?

What is bitcoin?

Hash Function

Consensus Protocol

Distributed Ledger

Distributed Databases

Public/Private keys

Mining

Cryptocurrency

Game Theory

ICOs

Exchanges

Wallets

dAPPs

 Blocks

Halving

Smart Contracts

Tokens

Block Explorer

Internet

Domain Name

Website

ISP

Download

Bandwidth

Blockchain

The blockchain is a distributed and decentralized ledger that stores data such as transactions and that is publicly shared across all the nodes of it’s network.

Blockchain

The blockchain is a distributed and decentralized ledger that stores data such as transactions and that is publicly shared across all the nodes of it’s network.

Blockchain

Hash

Hash

Hash

04xbafdbt..

017safna...

09usujdbt...

List of transations -> [User A sends $100 to User B, User X sends $20 to User T,....]

Nonce (0 to about ~4.2 billion)

Previous Block Hash

Hash Function

Previous Hash

Previous Hash

Previous Hash

04xbafdbt..

017safna...

0aahafdh5..

Is a value that generates leading zeros in the hash

Ledger

A ledger is a record-keeping book that stores all of the transactions in an organization

• payments
• contracts
• assets
• etc

Blockchain = Distributed Ledger

Blockchain = Distributed Ledger

Miners

Miners

• Process and Confirm transactions

• Solve Cryptography Math Problems

• Rewarded in Bitcoin

Blockchain

• Security

• Transparency

• Decentralization

Centralized

• One entity (bank, etc) records data

 

• Central entity has a lot of power

 

• Full authority to fine or reward

 

• Complete trust in the entity

Decentralized

• Everyone records the data

 

• Everyone has equal power

 

• Fair and transparent system

 

• Trustless

Cryptocurrency leverages the blockchain

21 million hard cap

Year 2140

At the beginning miners were getting about 50 bitcoins every 10 minutes; about 7200 bitcoins daily

Satoshi created the process of “halving”

Every 4 years the amount of bitcoins rewarded gets cut in half

• secure blockchain

• wallets

• mining

• secure blockchain

• wallets?

• mining

Public Key

Private Key

1Moon4CmwiNH7a73SJwFLe9PnubBjWXXZY

 

6GPHH4Cmwia5a73SJ11FLe9Paa11nubBjTTZ9

 

Private Key

=

Transactions

Digital Signature

Public Key

Demo

Upcoming Schedule

 

• Blockchain 101 (July 3)

• React  (August)

• React vs Angular (August)

• Let's build a Blockchain (September)

Demo