The document provides a jargon-free introduction to bitcoin and blockchain technology. It discusses wallets, where bitcoins come from through the mining process, and examines a crypto transaction step-by-step. It explains that wallets contain private and public keys, not actual coins. It describes how bitcoins are generated through mining by solving math problems, and how difficulty targets ensure blocks are added every 10 minutes on average. It also shows how transactions are grouped into a Merkle tree and included in blocks along with other data like timestamps and hashes.
Introduction to Blockchain. Presentation at Framework Bristol. Oct 2018. Slides for those that saw the talk, may be difficult to follow without the talk. Covers introduction to blockchain and crytocurrencies. Technologies of trust, tally sticks and ledgers.
Top Bitcoin Wallets Of 2020 To Secure Your Digital Coinsdanialchristian
We are describing here top Bitcoin wallets and how these make sure to secure your digital coins. In this ppt file, you got a lot of knowledge about Bitcoin wallets.
Learn to trade cryptocurrency and bank huge daily profit. This slide exposes you to cryptocurrency trading basics.
You will learn;
What is Cryptocurrency?
How to Open a Bitcoin Wallet
How to fund your Bitcoin wallet
How to Open a Cryptocurrency Trading Account
How to fund your Trading account
How to place a Trade
How to set Stop loss and take profit
Market Analysis Technique
Trading rules and guidelines
Ultimately, you will discover how to become a cryptocurrency trading professional and build a profitable cryptocurrency trading career.
An Introduction to Bitcoin-The Digital Form of currencyBirju Besra
This PPT give an introduction to cryptocurrency Bitcoin. It is a digital form of currency. It is a decentralized currency , that is no central govt. or authority controls it. It is a direct peer to peer money transaction.
Introduction to Blockchain. Presentation at Framework Bristol. Oct 2018. Slides for those that saw the talk, may be difficult to follow without the talk. Covers introduction to blockchain and crytocurrencies. Technologies of trust, tally sticks and ledgers.
Top Bitcoin Wallets Of 2020 To Secure Your Digital Coinsdanialchristian
We are describing here top Bitcoin wallets and how these make sure to secure your digital coins. In this ppt file, you got a lot of knowledge about Bitcoin wallets.
Learn to trade cryptocurrency and bank huge daily profit. This slide exposes you to cryptocurrency trading basics.
You will learn;
What is Cryptocurrency?
How to Open a Bitcoin Wallet
How to fund your Bitcoin wallet
How to Open a Cryptocurrency Trading Account
How to fund your Trading account
How to place a Trade
How to set Stop loss and take profit
Market Analysis Technique
Trading rules and guidelines
Ultimately, you will discover how to become a cryptocurrency trading professional and build a profitable cryptocurrency trading career.
An Introduction to Bitcoin-The Digital Form of currencyBirju Besra
This PPT give an introduction to cryptocurrency Bitcoin. It is a digital form of currency. It is a decentralized currency , that is no central govt. or authority controls it. It is a direct peer to peer money transaction.
This guide will train you on how to trade cryptocurrency on Binance.
It contains some of the following:
- HOW TO REGISTER ON BINANCE
- WHAT IS CRYPTO CURRENCY ?
- WHAT IS BITCOIN ?
- HOW DO I INVEST IN CRYPTOCURRENCY ?
- WHAT IS NEEDED TO BEGIN CRYPTOCURRENCY TRADING?
- A BRIEF INTRO TO BINANCE
- INTRODUCTION TO BINANCE AND HOW TO DEPOSIT
- HOW TO MAKE PROFITS DAILY WITH CRYPTOCURRENCY SIGNALS
Go through it and you will become an expert in cryptocurrency trading
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Most interesting and creative presentation on Bitcoin for beginners.
Blockchain: life of a blockchain transactionErwan Alliaume
First talk: My life as a blockchain transaction
Presentation Given our Sydney Tech Share meetup with Yann Rouillard.
You are interested in the blockchain but you are still a bit confused about how it works? Don’t wait anymore to dive into it!
In this first talk, we will shed the light on all the dark mechanisms of the blockchain by following the life of an innocent transaction from its birth to its eternal rest in the blockchain immutable history.
Cryptography, Network propagation, Proof of work, Transaction execution... nothing will be hidden from you. The only sad thing is that blockchain might not seem so magical to you after this talk. :)
https://www.meetup.com/en-AU/Tech-Share-Sydney-Meetup/events/249111190/
Now is a very good time to take an interest in Bitcoin and invest in it. It has been going strong for 10 years and its popularity has soared. In order to make the best returns on Bitcoin investments you need to understand what it really is and how it works.
You also need to know the best way to obtain Bitcoins and the best investment strategies. This guide will show you all of this and more. Many people think that Bitcoin is a scam but it certainly isn’t.
However there have been some scams in the cryptocurrency world and you will find out how to avoid these and stay safe in this guide.
Cryptocurrencies - A Serious IntroductionDrake Emko
A high level overview of the world of Cryptocurrencies, liberally illustrated with Doge memes.
This was a lightning talk (5-7 minutes), so it scratches the surface, hopefully enough to get you interested in the world of cryptocoins.
It begins with the basic definitions, the reasons to use and accept cryptocurrency, the main currencies (Bitcoin, Litecoin, Dogecoin), the many altcoins and their distinguishing factors, and finally introduces you to cryptocoin mining (producing your own coins using your computer).
Blockchain and ICO from a Developer’s Standpoint - Zymo.ioMarissa Ryan
Learn about Blockchain, ICO, and other Cryptocurrency terms, how they relate to development, and how developers can use it in today's Crypto-world. by Zymo.io
Bitcoin – for some people, this may be something making them excited and sleepless while for some others, it may be the first time they have come across such a term.
Become a Bitcoin Guru.
All about Binance and Crypto Currency.
Step by step guide. For those who say they don't know anything or want to learn new things.
How to easily make a litecoin paper wallet in less than a minutePaul Sorgi
Keep your litecoin safe. These instructions also work for a paper bitcoin wallet. This is a step by step guide to creating a safe wallet for your litecoin.
Bitcoin, the first cryptocurrency, was dismissed as a passing craze in 2009. While the blockchain technology underpinning Bitcoin impressed the tech community, it failed to pique the public’s attention as a viable investment choice.
#2 Case study Tachyon & ICOVO App by Yoshikazu Nishimura, ICOVO's CTOICOVO
【Outline】
We will welcome two blockchain engineers to dive deep into the development of wallets.
Yoshikazu Nishimura is a creator of Tachyon wallet that supports Ethereum and all the ERC20 standard tokens.
http://tachyon-wallet.io/en/
Alex Melville is an engineer at BitGo. BitGo is a company based in Palo Alto, CA. They make variety of products such as a wallet, an offline vault and institutional custody.
https://www.bitgo.com/
It's organized by ICOVO AG. https://icovo.co/
Quick Understanding of Bitcoin/Cryptocurrency.Satish Mudaliar
This slide briefs you about the BItcoin/Cryptocurrency knowledge and facts. This slide is made for diffrent purpose but sharing here to help someone getting a quick knowledge of Bitcoins.
Whether you're looking to buy your first Bitcoin, diversify your crypto portfolio, or trade cryptocurrencies actively, Polarize Exchangeis your trusted partner on this exciting journey. Join us today and experience the future of finance in your hands. Visit @ https://polarize.exchange/
This guide will train you on how to trade cryptocurrency on Binance.
It contains some of the following:
- HOW TO REGISTER ON BINANCE
- WHAT IS CRYPTO CURRENCY ?
- WHAT IS BITCOIN ?
- HOW DO I INVEST IN CRYPTOCURRENCY ?
- WHAT IS NEEDED TO BEGIN CRYPTOCURRENCY TRADING?
- A BRIEF INTRO TO BINANCE
- INTRODUCTION TO BINANCE AND HOW TO DEPOSIT
- HOW TO MAKE PROFITS DAILY WITH CRYPTOCURRENCY SIGNALS
Go through it and you will become an expert in cryptocurrency trading
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Most interesting and creative presentation on Bitcoin for beginners.
Blockchain: life of a blockchain transactionErwan Alliaume
First talk: My life as a blockchain transaction
Presentation Given our Sydney Tech Share meetup with Yann Rouillard.
You are interested in the blockchain but you are still a bit confused about how it works? Don’t wait anymore to dive into it!
In this first talk, we will shed the light on all the dark mechanisms of the blockchain by following the life of an innocent transaction from its birth to its eternal rest in the blockchain immutable history.
Cryptography, Network propagation, Proof of work, Transaction execution... nothing will be hidden from you. The only sad thing is that blockchain might not seem so magical to you after this talk. :)
https://www.meetup.com/en-AU/Tech-Share-Sydney-Meetup/events/249111190/
Now is a very good time to take an interest in Bitcoin and invest in it. It has been going strong for 10 years and its popularity has soared. In order to make the best returns on Bitcoin investments you need to understand what it really is and how it works.
You also need to know the best way to obtain Bitcoins and the best investment strategies. This guide will show you all of this and more. Many people think that Bitcoin is a scam but it certainly isn’t.
However there have been some scams in the cryptocurrency world and you will find out how to avoid these and stay safe in this guide.
Cryptocurrencies - A Serious IntroductionDrake Emko
A high level overview of the world of Cryptocurrencies, liberally illustrated with Doge memes.
This was a lightning talk (5-7 minutes), so it scratches the surface, hopefully enough to get you interested in the world of cryptocoins.
It begins with the basic definitions, the reasons to use and accept cryptocurrency, the main currencies (Bitcoin, Litecoin, Dogecoin), the many altcoins and their distinguishing factors, and finally introduces you to cryptocoin mining (producing your own coins using your computer).
Blockchain and ICO from a Developer’s Standpoint - Zymo.ioMarissa Ryan
Learn about Blockchain, ICO, and other Cryptocurrency terms, how they relate to development, and how developers can use it in today's Crypto-world. by Zymo.io
Bitcoin – for some people, this may be something making them excited and sleepless while for some others, it may be the first time they have come across such a term.
Become a Bitcoin Guru.
All about Binance and Crypto Currency.
Step by step guide. For those who say they don't know anything or want to learn new things.
How to easily make a litecoin paper wallet in less than a minutePaul Sorgi
Keep your litecoin safe. These instructions also work for a paper bitcoin wallet. This is a step by step guide to creating a safe wallet for your litecoin.
Bitcoin, the first cryptocurrency, was dismissed as a passing craze in 2009. While the blockchain technology underpinning Bitcoin impressed the tech community, it failed to pique the public’s attention as a viable investment choice.
#2 Case study Tachyon & ICOVO App by Yoshikazu Nishimura, ICOVO's CTOICOVO
【Outline】
We will welcome two blockchain engineers to dive deep into the development of wallets.
Yoshikazu Nishimura is a creator of Tachyon wallet that supports Ethereum and all the ERC20 standard tokens.
http://tachyon-wallet.io/en/
Alex Melville is an engineer at BitGo. BitGo is a company based in Palo Alto, CA. They make variety of products such as a wallet, an offline vault and institutional custody.
https://www.bitgo.com/
It's organized by ICOVO AG. https://icovo.co/
Quick Understanding of Bitcoin/Cryptocurrency.Satish Mudaliar
This slide briefs you about the BItcoin/Cryptocurrency knowledge and facts. This slide is made for diffrent purpose but sharing here to help someone getting a quick knowledge of Bitcoins.
Whether you're looking to buy your first Bitcoin, diversify your crypto portfolio, or trade cryptocurrencies actively, Polarize Exchangeis your trusted partner on this exciting journey. Join us today and experience the future of finance in your hands. Visit @ https://polarize.exchange/
Short presentation about bitcoin in particular and crypto currencies in general.
Its mainly a description of whats money and what is bitcoin
why bitcoin will dominate
Welcome to the world of cryptocurrencies, the next step in the evolution of the means of value exchange. This is
the part where many authors would veer off into the fascinating history of money. Though that is or at least can
be interesting, it’s ultimately a side note — and one that, frankly, isn’t going to make you any richer.
Instead, this book will begin with and focus on what you need to know to participate in and potentially profit
from this white-hot frontier investment space. With that in mind, we’re not going to begin at the beginning and
regale you with tales of humankind’s early currencies or some such; instead, we’re going to take the leap off the
high board and start to teach you right away about the now and the newest computer-based currencies
How does the division of Bitcoins work_.pptxBlockchainX
At BlockchainX tech, we help startups, medium-sized enterprises, and large-sized businesses by providing end-to-end blockchain development services such as token creation, token sale distribution, landing page design, whitepaper writing, and smart contract creation. As your business idea is unique your cryptocurrency launch process will also be one of a kind. Our blockchain experts help you analyze your concept to make sure that your idea is effective enough to motivate people for funding. Our experience so far in ICO and blockchain development is unmatched and it allows us to provide stable cryptocurrency solutions that are tailor-made to match your business requirements. Raise your Initial Coin Offering with minimal steps and get professional guidance from our team of blockchain and cryptocurrency experts.
[Workshop] Getting Started with Cryptos, NFTs & Web 3.0 for Absolute BeginnersHessan Adnani
We are experiencing massive trends in Cryptos, NFTs, and Web 3.0 everywhere, and sooner or later, we all need to adapt to these new technologies. The DotCom Boom is repeating itself. We have two choices: to wait and be forced to learn about the Cryptos/NFTs when it's too late or to know it now and ride the current waves of opportunities.
In this workshop, we will get you started with Cryptos and NFTs, even if you're an absolute beginner with no technical background. We will be discussing:
The fundamentals of blockchain technology and how Cryptocurrencies, NFTs, and Web 3.0 work
Setting up your digital wallet
Understanding the Cryptos and NFTs markets
How to keep your assets safe and spot scams
How to buy and store cryptocurrency
How to buy your first NFT
How to spot opportunities
Essential investment mindset when it comes to the Crypto world
Crypto communities
And many more...
Cryptocurrencies are a new paradigm for money. They promise to streamline existing financial architecture to make it faster and cheaper. In addition, their technology and architecture decentralize existing monetary systems and make it possible for transacting parties to exchange value and money independently of intermediary institutions such as banks.
Introduction to the Blockchain Technology. References the Bitcoin, Ethereum, ICO and more. Features - history and prerequisites, technology and applications.
How to Get CNIC Information System with Paksim Ga.pptxdanishmna97
Pakdata Cf is a groundbreaking system designed to streamline and facilitate access to CNIC information. This innovative platform leverages advanced technology to provide users with efficient and secure access to their CNIC details.
In his public lecture, Christian Timmerer provides insights into the fascinating history of video streaming, starting from its humble beginnings before YouTube to the groundbreaking technologies that now dominate platforms like Netflix and ORF ON. Timmerer also presents provocative contributions of his own that have significantly influenced the industry. He concludes by looking at future challenges and invites the audience to join in a discussion.
Unlock the Future of Search with MongoDB Atlas_ Vector Search Unleashed.pdfMalak Abu Hammad
Discover how MongoDB Atlas and vector search technology can revolutionize your application's search capabilities. This comprehensive presentation covers:
* What is Vector Search?
* Importance and benefits of vector search
* Practical use cases across various industries
* Step-by-step implementation guide
* Live demos with code snippets
* Enhancing LLM capabilities with vector search
* Best practices and optimization strategies
Perfect for developers, AI enthusiasts, and tech leaders. Learn how to leverage MongoDB Atlas to deliver highly relevant, context-aware search results, transforming your data retrieval process. Stay ahead in tech innovation and maximize the potential of your applications.
#MongoDB #VectorSearch #AI #SemanticSearch #TechInnovation #DataScience #LLM #MachineLearning #SearchTechnology
UiPath Test Automation using UiPath Test Suite series, part 6DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 6. In this session, we will cover Test Automation with generative AI and Open AI.
UiPath Test Automation with generative AI and Open AI webinar offers an in-depth exploration of leveraging cutting-edge technologies for test automation within the UiPath platform. Attendees will delve into the integration of generative AI, a test automation solution, with Open AI advanced natural language processing capabilities.
Throughout the session, participants will discover how this synergy empowers testers to automate repetitive tasks, enhance testing accuracy, and expedite the software testing life cycle. Topics covered include the seamless integration process, practical use cases, and the benefits of harnessing AI-driven automation for UiPath testing initiatives. By attending this webinar, testers, and automation professionals can gain valuable insights into harnessing the power of AI to optimize their test automation workflows within the UiPath ecosystem, ultimately driving efficiency and quality in software development processes.
What will you get from this session?
1. Insights into integrating generative AI.
2. Understanding how this integration enhances test automation within the UiPath platform
3. Practical demonstrations
4. Exploration of real-world use cases illustrating the benefits of AI-driven test automation for UiPath
Topics covered:
What is generative AI
Test Automation with generative AI and Open AI.
UiPath integration with generative AI
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Essentials of Automations: The Art of Triggers and Actions in FMESafe Software
In this second installment of our Essentials of Automations webinar series, we’ll explore the landscape of triggers and actions, guiding you through the nuances of authoring and adapting workspaces for seamless automations. Gain an understanding of the full spectrum of triggers and actions available in FME, empowering you to enhance your workspaces for efficient automation.
We’ll kick things off by showcasing the most commonly used event-based triggers, introducing you to various automation workflows like manual triggers, schedules, directory watchers, and more. Plus, see how these elements play out in real scenarios.
Whether you’re tweaking your current setup or building from the ground up, this session will arm you with the tools and insights needed to transform your FME usage into a powerhouse of productivity. Join us to discover effective strategies that simplify complex processes, enhancing your productivity and transforming your data management practices with FME. Let’s turn complexity into clarity and make your workspaces work wonders!
Observability Concepts EVERY Developer Should Know -- DeveloperWeek Europe.pdfPaige Cruz
Monitoring and observability aren’t traditionally found in software curriculums and many of us cobble this knowledge together from whatever vendor or ecosystem we were first introduced to and whatever is a part of your current company’s observability stack.
While the dev and ops silo continues to crumble….many organizations still relegate monitoring & observability as the purview of ops, infra and SRE teams. This is a mistake - achieving a highly observable system requires collaboration up and down the stack.
I, a former op, would like to extend an invitation to all application developers to join the observability party will share these foundational concepts to build on:
Unlocking Productivity: Leveraging the Potential of Copilot in Microsoft 365, a presentation by Christoforos Vlachos, Senior Solutions Manager – Modern Workplace, Uni Systems
GraphSummit Singapore | The Art of the Possible with Graph - Q2 2024Neo4j
Neha Bajwa, Vice President of Product Marketing, Neo4j
Join us as we explore breakthrough innovations enabled by interconnected data and AI. Discover firsthand how organizations use relationships in data to uncover contextual insights and solve our most pressing challenges – from optimizing supply chains, detecting fraud, and improving customer experiences to accelerating drug discoveries.
Maruthi Prithivirajan, Head of ASEAN & IN Solution Architecture, Neo4j
Get an inside look at the latest Neo4j innovations that enable relationship-driven intelligence at scale. Learn more about the newest cloud integrations and product enhancements that make Neo4j an essential choice for developers building apps with interconnected data and generative AI.
Why You Should Replace Windows 11 with Nitrux Linux 3.5.0 for enhanced perfor...SOFTTECHHUB
The choice of an operating system plays a pivotal role in shaping our computing experience. For decades, Microsoft's Windows has dominated the market, offering a familiar and widely adopted platform for personal and professional use. However, as technological advancements continue to push the boundaries of innovation, alternative operating systems have emerged, challenging the status quo and offering users a fresh perspective on computing.
One such alternative that has garnered significant attention and acclaim is Nitrux Linux 3.5.0, a sleek, powerful, and user-friendly Linux distribution that promises to redefine the way we interact with our devices. With its focus on performance, security, and customization, Nitrux Linux presents a compelling case for those seeking to break free from the constraints of proprietary software and embrace the freedom and flexibility of open-source computing.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
UiPath Test Automation using UiPath Test Suite series, part 5DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 5. In this session, we will cover CI/CD with devops.
Topics covered:
CI/CD with in UiPath
End-to-end overview of CI/CD pipeline with Azure devops
Speaker:
Lyndsey Byblow, Test Suite Sales Engineer @ UiPath, Inc.
Generative AI Deep Dive: Advancing from Proof of Concept to ProductionAggregage
Join Maher Hanafi, VP of Engineering at Betterworks, in this new session where he'll share a practical framework to transform Gen AI prototypes into impactful products! He'll delve into the complexities of data collection and management, model selection and optimization, and ensuring security, scalability, and responsible use.
Sudheer Mechineni, Head of Application Frameworks, Standard Chartered Bank
Discover how Standard Chartered Bank harnessed the power of Neo4j to transform complex data access challenges into a dynamic, scalable graph database solution. This keynote will cover their journey from initial adoption to deploying a fully automated, enterprise-grade causal cluster, highlighting key strategies for modelling organisational changes and ensuring robust disaster recovery. Learn how these innovations have not only enhanced Standard Chartered Bank’s data infrastructure but also positioned them as pioneers in the banking sector’s adoption of graph technology.
13. Where do bitcoins come from?
Fiat Currency Crypto-currency
Controlled by Central Authority (Governments) No Central Authority
Printed when Government decides to print more Miners (human) use special software to solve math
problems are issued new bitcoins in exchange
The special software is called Miner (software)
This special software can be run on specialized hardware
to speed up mining and generate more bitcoins.
This specialized hardware is called Miner (hardware)
24. Cryptographic Hash Functions
● The qualifier ‘Cryptographic’ implies that the hash function
○ is computationally efficient - apply transformation quickly,
○ is collision resistant - hard to find 2 inputs that result in the
same output
○ hides information - hard to infer the input by examining the
output
○ looks random - well-distributed output - should look random
● Sometimes referred to as a mathematical meat grinder
● Examples include MD5 (Message Digest 5), SHA-256 (Secure HAsh
256)
● Applications include - Digital Signatures, Cryptocurrencies
30. Transaction Workflow ● Everybody can see the ledger
● This is what a network looks like except...
BTC LEDGER (State of the Network / Account of all Coins)
Ashley 10
Berk 12
David 13
Emre 50
Karen 26
Marie-Louise 70
Nani 123
31. Transaction Workflow ● Everybody can see the ledger
● No one knows your name
● Your identity is represented by your
public key / verification key
● This is what a network looks like,
except...
BTC LEDGER (State of the Network / Account of all Coins)
MIIBOQIBAAJAT+qwrlMhJOkn3VSQQK... 10
FsPkKavfDcE19SFZnuJ4HHA0XMn3xD... 12
TtWttB/pfSh5FT/Wr6B3bRoM7nzWpeq... 13
AiEAnnIGwnywSjvpsecRrp9RTpVqgirn... 50
DesPyX5YO5eXSieI8cV5xs+nDsz6KwIh... 26
WdqKfiE5+YcBAiBP0aaBTe8xk5TNW0h…. 70
wi4V/2ZlZnl6kn+QgtKx+hQC8ZWKvBcb... 123
32. Transaction Workflow ● Everybody can see the ledger
● No one knows your name
● Your identity is represented by your
public key / verification key
● No one knows who you are unless they
transact with you in person
Governments and Financial Institutions do not
like this.
BTC LEDGER (State of the Network / Account of all Coins)
MIIBOQIBAAJAT+qwrlMhJOkn3VSQQK... 10
FsPkKavfDcE19SFZnuJ4HHA0XMn3xD... 12
TtWttB/pfSh5FT/Wr6B3bRoM7nzWpeq... 13
AiEAnnIGwnywSjvpsecRrp9RTpVqgirn... 50
DesPyX5YO5eXSieI8cV5xs+nDsz6KwIh... 26
WdqKfiE5+YcBAiBP0aaBTe8xk5TNW0h…. 70
wi4V/2ZlZnl6kn+QgtKx+hQC8ZWKvBcb... 123
40. What’s in a block?
● List of Transactions
● Merkle Root
● Timestamp
● Difficulty Target
● Nonce
● Hash of previous block
41. Difficulty Target
● Difficulty target is a number that regulates how long it takes for miners to
add new blocks to transactions to the blockchain
● The difficulty target adjusts every 2016 blocks (roughly 2 weeks)
Why is Difficulty Target important?
● It ensures that blocks of transactions are added to the blockchain at regular
intervals, even as more miners join the network
42. 1. Difficulty adjusts every 2016 blocks. Let’s assume it takes 2 weeks
(20160 minutes) to add 2016 blocks. This means that each block is
expected to be added in 10 min.
TExpected = 10
2. Let’s say more miners joined the network and it took miners, an average
of 9 min per block.
TActual = 9
3. Calculate (TExpected /TActual) = 1.1
4. New Difficulty (DNEW) = DCURRENT X 1.1
Difficulty Target Calculation
43. How does Difficulty control time between
blocks?
Let’s play a simple math game.
Assumptions:
● You are given a range of numbers 1-100 where 100 is the RANGEMAX
● You randomly generate a number between 1 and 100 every minute
Objective:
● Generate a number below my TARGET
48. If instead of providing you the TARGET, I provided you ANOTHER_NUMBER by which
to divide the RANGEMAX , we would get the the same result
This ANOTHER_NUMBER is called DIFFICULTY_TARGET
ANOTHER_NUMBER TARGET
(RANGEMAX/ANOTHER_NUMBER)
Time to reach objective
2 50 2 min
5 20 5 min
10 10 10 min
How does Difficulty control time between
blocks?
49. ● Our assumptions from previous activity are ridiculous for real-world
implementations
● Miners are able to generate thousands of numbers (hash values) per minute
as opposed to our measly 1 per minute
● To make things worse, there are many miners working on the problem
concurrently
● To make DIFFICULTY_TARGET work, MAX_RANGE needs to be big
● Real world MAX_RANGE looks more like:
8972345609248750982347034985702348957202938547029438750928349847
Real World Numbers
50. ● Real world DIFFICULTY_TARGET looks something like this: 13498.928322
● Since MAX_RANGE is a big number, we use hexadecimal system to
represent numbers as opposed to decimal. In reality, MAX_RANGE range
looks more like this:
000000000003ba27aa200b1cecaad478d2b00432346c3f1f3986da1afd33e506
Real World Numbers
51. ● Difficulty targets control the time it takes to add a block
● Miners are tasked with finding a hash lower than TARGET, as calculated
based upon the MAX_RANGE and DIFFICULTY_TARGET
● Hashes are just numbers represented in Hexadecimal
Summarizing Difficulty Targets
52. What’s in a block?
● List of Transactions
● Merkle Root
● Timestamp
● Difficulty Target
● Nonce
● Hash of previous block
54. How is a block made?
Hash of the previous block
(publicly known)
+
Current transactions
+
Nonce
(randomly selected)
HASH IT
Miners are expected to
get a valid hash for
their candidate block
such that the hash of
their block headers is
below the TARGET
55. Revisiting Nonce
• Nonce is a random integer between 0 and 4,294,967,296
• Miners have to ‘guess’ the nonce when they’re trying to get the hash of
their block headers below a TARGET
• Typically they do this brute force by incrementing the nonce until they get
a valid hash
59. Transaction Workflow Transaction, once verified, will change the
ledger state to below.
BTC LEDGER (State of the Network / Account of all Coins)
MIIBOQIBAAJAT+qwrlMhJOkn3VSQQK... 10
FsPkKavfDcE19SFZnuJ4HHA0XMn3xD... 22
TtWttB/pfSh5FT/Wr6B3bRoM7nzWpeq... 13
AiEAnnIGwnywSjvpsecRrp9RTpVqgirn... 50
DesPyX5YO5eXSieI8cV5xs+nDsz6KwIh... 26
WdqKfiE5+YcBAiBP0aaBTe8xk5TNW0h…. 70
wi4V/2ZlZnl6kn+QgtKx+hQC8ZWKvBcb... 113
10