of business is not the social web, big data, the cloud, robotics, or even artificial intelligence. It’s the blockchain, the technology behind digital currencies like Bitcoin.” )BSWBSE#VTJOFTT3FWJFX%PO5BQTDPU “The progress of mankind is marked by the rise of new technologies and the human ingenuity they unlock. In distributed ledger technology, we may be witnessing one of those potential explosions of creative potential that catalyse exceptional levels of innovation. The technology could prove to have the capacity to deliver a new kind of trust to a wide range of services. As we have seen open data revolutionise the citizen’s relationship with the state, so may the visibility in these technologies reform our financial markets, supply chains, consumer and business-to-business services, and publicly-held registers.” ɹɹɹɹɹɹɹɹɹɹɹɹɹɹɹɹɹɹɹ"SFQPSUCZUIF6,(PWFSONFOU$IJFG4DJFOUJGJD"EWJTFS Blockchainͷظ
would allow online payments to be sent directly from one party to another without going through a financial institution. ࣗͷ͓ۚΛ୭ʹࢭΊΒΕΔ͜ͱແࣗ͘ͷ͖ͳλΠϛϯάͰ ૹۚ͢ΔʹͲ͏͢ΕΑ͍͔ʁ
block’s hash value Nonce Nonce Nonce Transaction Transaction Transaction Transaction Transaction Transaction Transaction Transaction Transaction Transaction Transaction Transaction • A block is including transactions in a certain period of time. • A block is including the former block’s hash value. Therefore, it looks like a chain structure. • The hash is recomputed for each value until a hash containing the required number of zero bits is found. (set by “the difficulty”) The Structure of Blocks
in a Bitcoin is a 32bit (4byte). • In terms of Bitcoin, the difficulty of finding “nonce” is set. It is about 10 minutes. Hash Hash Hash Nonce : A Nance : C Nance : B Other data : bbbbbbbbbbbb Other data : bbbbbbbbbbbb Other data : bbbbbbbbbbbb 21333508fdw9cujsighwehɾɾɾ 000000000000000012ec2h93ɾɾ 0000012dwvf344brthhh64ɾɾɾ 10 min
is represented by the longest chain, which has the greatest proof-of-work effort invested in it. • Nodes always consider the longest chain to be the correct one and will keep working on extending it. Satoshi Nakamoto (2008)
the total percentage of identified “dirty bitcoins” going into conversion services was relatively small. Only 0.61 percent of the money entering conversion services during the four years analyzed were verifiably from illicit sources, with the highest proportion (1.07 percent) seen in 2013. 2. Aͱ͍͏ΞΧϯτ͔ΒBͱ͍͏ΞΧϯτʹ͍͘Βૹ͍ۚͯ͠Δ͔͕͔ͬͯ ͠·͏ͱ͍͏ɻͦΕࣗମʹͳ͍͕ɺૹֹۚΛΒΕͨ͘ͳ͍Ϣʔβʔ ͍ΔɻʢZK-SNARKsͳͲͷղܾࡦ͋Δɻʣ Source : https://coincenter.org/link/a-new-study-finds-less-than-1-of-bitcoin-transactions-to-exchanges-are-illicit?utm_ content=bufferad122&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
Usually, a Miner joins a pool which is a team of other miners and cooperates to mine. Miner’s share • Currently, there are no pools which get more than 50%. • Miners are mainly from China and the other countries which the electronic bills are so low.
succinct argument dates back to a paper of Joe Kilian from 1992. After that, a paper of Silvio Micali in 1994 showed how to make the proof non-interactive via cryptographic hash functions. While Micali did not study zero knowledge in his paper, the community views his construction, in hindsight, as the first "zk-SNARK”. However modern constructions of zk-SNARKs did not arise until 20 years later. In a paper with co-authors and I in 2012, we coined the term "SNARK" and "zk-SNARK" and showed various alternative constructions to the classical constructions (our motivations mostly had to do with the cryptographic assumptions inherent to constructing SNARKs). Research on SNARKs since 2012 has boomed, with works studying either theoretical aspects (existence, asymptotics) or practical ones (efficient implementations, reducing high-level program representations to low-level representations "understood" by these proof systems). If I had two name two landmark papers that are direct precursors of most of today's practical SNARKs would be a paper with co-authors and I in 2013 that built a system for proving executions of arbitrary programs, and a paper of other colleagues that introduced many useful techniques still used today. But that was 4 years ago, and since then much has happened and zk-SNARK history is still being written, as every year we see new approaches and techniques that improve both our theoretical and practical understanding of them.
cap of all cryptocurrencies totaled $15B As of mid December 2017… The market cap of all cryptocurrencies totaled $500B An increase of 3200%. Source : CB Insights
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the internet. They offer many free and cheap services because they are able to collect valuable data on their users, and find ways to monetize that data. As users of the modern internet, one is never too sure where their demographic and personal data is being used. Through the implementation of decentralization, also called Web3, data doesn’t have to be stored in centralized systems. Data can be verified independently and content creators are valued by the quality of their work.
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