Blockchain: Bitcoin & Beyond

A brief introduction to the concept of blockchain, how it works and why is being used. Besides that, Guilherme also talks about how cryptocurrencies can benefit from this technology.

Guilherme B Devincenzi
github.com/gdevincenzi

Transcript

1. Blockchain: Bitcoin & Beyond Guilherme B Devincenzi
2. Agenda • Blockchain ◦ What is it? ◦ How does it work? ◦ Why? • Bitcoin ◦ Blockchain applied • Beyond ◦ Other applications
3. Blockchain What is it?
4. Blockchain - What A data structure A distributed ledger
5. Blockchain - What A data structure A distributed ledger
6. Blockchain - What A data structure A distributed ledger Very similar to a linked list
7. Blockchain - What A data structure A distributed ledger
8. Blockchain - What A data structure A distributed ledger The principal book or computer file for recording and totaling economic transactions, with debits and credits in separate columns and a monetary balance for each account.
9. Blockchain - What A data structure A distributed ledger
10. Blockchain - What A data structure A distributed ledger
11. Blockchain - What A data structure A distributed ledger
12. Blockchain How does it work?
13. Blockchain - How ID From To Amount 001 Paul Ron 5 002 Fran Charles 7 003 Grace Paul 2 004 Charles Ron 11 A ledger of transactions
14. Blockchain - How Hash From To Amount 5b2ccaf962ff3977ea6781f2e 650b3e576fced861d00f42e2 28ea17d454f93bc 1543h2LCPAkfJUWAEnC6bF DCTxv8ycyXjB 1LxvxTXD6ga9G63mYERsVq 4miKnuMWrfmN 0.37972857 BTC e6326b83372c54f4e88f7c8f de9e02b9bd7294eb64be68f 954056efef1f14ed5 1HX5sR3iDMcQJwXLytzywh SbYqsHCwhtR3 1MeBAzZ22di2TiA3dAyMwH BxfiXuUMthqu 0.1274576 BTC aac23075fd2200017c1df26c 94e11b7dc4c8510b008d4eb 88c36f57d7cb9a648 1Q13pmRaxNTd7tDWcGJdF XUw2XCz3tJdJn 1KmZXiA5tRsC5HqnivuamZ2 zsibmEYPbCV 9.14768587 BTC A ledger of transactions *Those are all real BTC transactions
15. Blockchain - How Hash From To Amount 5b2ccaf9 62ff3977 ea6781f2 e650bc 1543h2LCPAkf JUWAEnC6b FDCTxv8ycy 1LxvxTX D6ga9G 63mYER sVq 0.3797285 7 BTC e6326b8 3372c54f 4e88f7c5 1HX5sR3iDMc QJwXLytzywh SbYqsHCwht R3 1MeBAz Z22di2Ti A3dAyM wHBxfiX 0.1274576 BTC aac23075 fd220001 7c1df26c 94e11 1Q13pmRaxN Td7tDWcGJd FXUw2XCz3tJ dJn 1KmZXiA 5tRsC5H qnivuam Z 9.1476858 7 BTC Go into a BLOCK
16. Blockchain - How Hash From To Amount 5b2ccaf9 62ff3977 ea6781f2 e650bc 1543h2LCPAkf JUWAEnC6b FDCTxv8ycy 1LxvxTX D6ga9G 63mYER sVq 0.3797285 7 BTC e6326b8 3372c54f 4e88f7c5 1HX5sR3iDMc QJwXLytzywh SbYqsHCwht R3 1MeBAz Z22di2Ti A3dAyM wHBxfiX 0.1274576 BTC aac23075 fd220001 7c1df26c 94e11 1Q13pmRaxN Td7tDWcGJd FXUw2XCz3tJ dJn 1KmZXiA 5tRsC5H qnivuam Z 9.1476858 7 BTC What else goes into a block?
17. Blockchain - How Hash From To Amount 5b2ccaf9 62ff3977 ea6781f2 e650bc 1543h2LCPAkf JUWAEnC6b FDCTxv8ycy 1LxvxTX D6ga9G 63mYER sVq 0.3797285 7 BTC e6326b8 3372c54f 4e88f7c5 1HX5sR3iDMc QJwXLytzywh SbYqsHCwht R3 1MeBAz Z22di2Ti A3dAyM wHBxfiX 0.1274576 BTC aac23075 fd220001 7c1df26c 94e11 1Q13pmRaxN Td7tDWcGJd FXUw2XCz3tJ dJn 1KmZXiA 5tRsC5H qnivuam Z 9.1476858 7 BTC POINTERS What else goes into a block?
18. Blockchain - How Block n58uf0 built on 84n855 Block 90fk5n built on n58uf0
19. Blockchain - How
20. Blockchain - How Bitcoin blockchain: 157.36 GB as of 9/19/17
21. Blockchain Why?
22. In one word: TRUST
23. TRUST Is the fundamental currency of commerce
24. Blockchain - Why Regular ledgers or databases are not immutable
25. Blockchain - Why Regular ledgers or databases are not immutable Data can be DELETED
26. Blockchain - Why Regular ledgers or databases are not immutable Data can be DELETED Data can be CHANGED
27. Blockchain - Why
28. Blockchain - Why
29. Blockchain - Why
30. Blockchain - Why
31. Blockchain - Why
32. What if...
33. What if... We had no intermediaries?
34. Peer-to-Peer trust
35. Peer-to-Peer trust Anonymous
36. Peer-to-Peer trust Anonymous No banks
37. Peer-to-Peer trust Anonymous No banks No governments
38. Peer-to-Peer trust Anonymous No banks No governments No central authority
39. Welcome To Bitcoin
40. What is Bitcoin An application of Blockchain technology to create a decentralized, international digital currency
41. What is Bitcoin Block n58uf0 built on 84n855 Block 90fk5n built on n58uf0 A reward on each block
42. What is Bitcoin MINING Computers competing to calculate a hash and gain the reward
43. What is Bitcoin Transactions are propagated and validated through nodes
44. What is Bitcoin Miners include the transactions in the next block to be mined
45. What is Bitcoin The miner that calculates the hash broadcasts his “Proof of Work” and receives the reward
46. What is Bitcoin Nodes verify the result and propagate the block
47. What is Bitcoin Each new block creates confirmations. Transactions need a number of confirmations to be resolve.
48. What is Bitcoin Hashrate: 11/12/16 - 1,702,003 TH/s 19/09/17 - 8,072,925 TH/s 1,102,169x faster than Sunway TaihuLight (World’s Faster Supercomputer) By 2020, the Bitcoin network will consume more power than Denmark.
49. Beyond Bitcoin
50. Project Ethereum A platform for Smart Contracts
51. Project Golem
52. SiaCoin
53. Basic Attention Token
54. Dash - Digital Cash
55. Sources and Resources Banking on Bitcoin (Netflix) Blockchain: Massively Simplified by Richie Etwaru - TEDxMorristown (YouTube) Blockchain basics: Introduction to distributed ledgers by IBM A gentle introduction to blockchain technology by Bits on Blocks All you need to know about blockchain, explained simply - World Economic Forum Mastering Bitcoin: Programming the Open Blockchain by Andreas M. Antonopoulos (Book) Mastering Ethereum: Building Smart Contracts and Dapps by Andreas M. Antonopoulos (Book)
56. Thank you!