Lecture 1
Contact:
david@fumbi.network
Inflation Rate - 2020 | 3.8 |
---|---|
Inflation Rate - 2021 | 1.8 |
Current Block Reward | 6.25 BTC |
Next Halving Date | May 2024 |
Next Block Reward | 3.125 BTC |
Total BTC Mined | 18 800 000 |
Total BTC Mined (%) | 90 |
Blocks per day | ca. 144 |
BTC Mined per day | ca. 900 BTC |
Blockchain Size | 365 GB |
Total nodes | ca. 100 000 |
A tamper-proof, shared digital append-only ledger that records transactions grouped into blocks in a decentralized peer-to-peer network.
The permanent recording of transactions in the Blockchain stores permanently the history of asset exchanges that take place between the peers.
Updating the ledger (usually) requires solving Byzantine Agreements (hash) with economically incentivized participation, secured by cryptography
1. New TX is broadcasted
2. Each Node collects TXs
3. Randomly selected node gains the right to canonize "the truth" in the block
4. Other nodes accept/reject the block based on its validity
5. Acceptance is expressed by including block's hash into the following blocks
Proof of Work (Bitcoin)
Proof of Stake (PIVx)
Delegated Proof of Stake (NXT)
Practical Byzantine Fault Tolerance (Hyperledger)
Delegated Byzantine Fault Tolerance (NEO)
Proof of Importance (NEM)
Directed Acyclic Graph (IOTA, Hashgraph)
1. https://anders.com/blockchain/public-private-keys/keys.html
2. https://anders.com/blockchain/hash.html
Non-fungible tokens (NFT)
What is this? And how could it be relevant?
Key pre-Bitcoin Work:
david@fumbi.network