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Bienvenue !
@BdxCoin
Blockchain 101
Some tech flavors
● Yay, crypto !
● Bitcoins don’t exist
● The blockchain is Mining
Summary
because in cryptocurrency, there’s crypto
Yay, crypto !
What is a hash ?
data1
data2
data1
5b41362bc82b7f3d56e...
5b41362bc82b7f3d56e...
d98cf53e0c8b77c14a9...SHA-256
What is a Bitcoin address ?
Private key Public key
Wallet
Allows to spend
Bitcoins :
Keep it secret !
Used to receive
Bitc...
“My whole life is a lie” - everyone in this room
Bitcoins don’t exist
● There is no “bitcoin balance” stored
● Balances are computed from
transaction history
Bitcoins are transactions
Transaction : simplified
transaction
input output
fee
5 BTC 4.99 BTC
0.01 BTC
Transaction : less simplified
transaction ID
inputs output
fee
4 BTC 4.5 BTC
0.01 BTC
1 BTC
change
0.49 BTC
Transactions are grouped in blocks
transaction
transaction
transaction
transaction
Block
reward transaction
Blocks are chained in...
block
block
block
block
Blockchain !
time to turn off your heating system
Blockchain is mining
● Need to make sure blocks are not
altered
● -> Let’s hash them !
Avoiding double spending
● Hash the block to make sure it
wasn’t altered
● Include hash of the previous block
to make sure all the previous blocks
...
Block hashing
block
hash
block
hash
A simple hash is very fast to make :
one can fork the blockchain
Problem :
● Let’s add some difficulty
● The block hash must meet certain
requirements
● Difficulty regulates block
generation speed
...
● Miners try to find a valid block hash
● The first to find it broadcasts it, and
gets the reward + the fees
● Without min...
● bitcoin.pdf
● en.bitcoin.it/wiki/Category:Technical
● live blockchain monitor : blockchain.info
More tech details ?
Thank you !
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BdxCoin - Blockchain 101 - 09-04-2014

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Une description technique de la blockchain.

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BdxCoin - Blockchain 101 - 09-04-2014

  1. 1. Bienvenue ! @BdxCoin
  2. 2. Blockchain 101 Some tech flavors
  3. 3. ● Yay, crypto ! ● Bitcoins don’t exist ● The blockchain is Mining Summary
  4. 4. because in cryptocurrency, there’s crypto Yay, crypto !
  5. 5. What is a hash ? data1 data2 data1 5b41362bc82b7f3d56e... 5b41362bc82b7f3d56e... d98cf53e0c8b77c14a9...SHA-256
  6. 6. What is a Bitcoin address ? Private key Public key Wallet Allows to spend Bitcoins : Keep it secret ! Used to receive Bitcoins : You can share it !
  7. 7. “My whole life is a lie” - everyone in this room Bitcoins don’t exist
  8. 8. ● There is no “bitcoin balance” stored ● Balances are computed from transaction history Bitcoins are transactions
  9. 9. Transaction : simplified transaction input output fee 5 BTC 4.99 BTC 0.01 BTC
  10. 10. Transaction : less simplified transaction ID inputs output fee 4 BTC 4.5 BTC 0.01 BTC 1 BTC change 0.49 BTC
  11. 11. Transactions are grouped in blocks transaction transaction transaction transaction Block reward transaction
  12. 12. Blocks are chained in... block block block block Blockchain !
  13. 13. time to turn off your heating system Blockchain is mining
  14. 14. ● Need to make sure blocks are not altered ● -> Let’s hash them ! Avoiding double spending
  15. 15. ● Hash the block to make sure it wasn’t altered ● Include hash of the previous block to make sure all the previous blocks weren’t altered ! Block hashing
  16. 16. Block hashing block hash block hash
  17. 17. A simple hash is very fast to make : one can fork the blockchain Problem :
  18. 18. ● Let’s add some difficulty ● The block hash must meet certain requirements ● Difficulty regulates block generation speed Proof of Work
  19. 19. ● Miners try to find a valid block hash ● The first to find it broadcasts it, and gets the reward + the fees ● Without miners, no blockchain Mining
  20. 20. ● bitcoin.pdf ● en.bitcoin.it/wiki/Category:Technical ● live blockchain monitor : blockchain.info More tech details ?
  21. 21. Thank you !

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