The document provides an overview of the history and development of cryptocurrency and blockchain technology. It discusses how Bitcoin was launched in 2008 via a whitepaper by Satoshi Nakamoto. It describes how Silk Road helped popularize Bitcoin's use for anonymous online transactions. The document also explains key blockchain concepts like decentralized transaction ledgers, digital signatures, mining, and smart contracts. It notes how Ethereum generalized blockchains and enabled programmable transactions via smart contracts. In closing, it briefly outlines some business applications of blockchain and ongoing standardization work at ITU-T.
This document provides an overview of cryptocurrency and blockchain technology. It begins with a brief history of bitcoin and blockchain, starting with Satoshi Nakamoto's 2008 white paper. It then discusses how blockchain works, using bitcoin as an example to explain key concepts like decentralized ledgers, digital signatures, mining, and how the blockchain prevents double spending. The document also notes other cryptocurrencies like Ethereum and how it introduced smart contracts. In closing, it provides a SWOT analysis of blockchain and outlines some ITU-T activities related to distributed ledger technology.
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
This document discusses common myths about Bitcoin and provides clarification on several points:
- Bitcoin transactions are public, not anonymous, though some methods can obscure identities.
- Waiting for confirmations is unnecessary with trusted peers or small transactions, as the risk of fraud is very low even with just one confirmation.
- Coins are not represented by strings of 1s and 0s but rather transactions recorded on a public ledger.
- Validating transactions does not require massive computing power - it can be done efficiently on a standard computer. Mining solves simple, not complex, problems to earn rewards.
- Blocks are not "solved" but found randomly through repeated hashing; the difficulty ensures one
Bitcoin the most popular cryptocurrency is being accepted widely across the globe. The technology associated with bitcoin is a rich technology for the verification of transaction. Blockchain technology offers fast, fraud resistant, efficient, cost effective way to operate peer to peer transaction..
Blockchain concept and technology. How this is becoming the next trend after the Bitcoin, expanding to a myriad of solutions. Smart contracts might be using a public distributed, and encrypted platform to support data persistence.
Blockchain and cryptocurrencies like Bitcoin enable new forms of digital money and financial contracts. Bitcoin introduced a trustless digital currency using cryptography to secure a distributed public ledger called the blockchain. Miners on the Bitcoin network process transactions and add them to blocks which get added to the immutable blockchain roughly every 10 minutes. Over time, the blockchain has grown large as a record of all transactions, posing scalability challenges. New applications like smart contracts and alternative currencies like Namecoin build on this innovation to enable decentralized applications and services.
This document provides an overview of cryptocurrency and blockchain technology. It begins with a brief history of bitcoin and blockchain, starting with Satoshi Nakamoto's 2008 white paper. It then discusses how blockchain works, using bitcoin as an example to explain key concepts like decentralized ledgers, digital signatures, mining, and how the blockchain prevents double spending. The document also notes other cryptocurrencies like Ethereum and how it introduced smart contracts. In closing, it provides a SWOT analysis of blockchain and outlines some ITU-T activities related to distributed ledger technology.
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
This document discusses common myths about Bitcoin and provides clarification on several points:
- Bitcoin transactions are public, not anonymous, though some methods can obscure identities.
- Waiting for confirmations is unnecessary with trusted peers or small transactions, as the risk of fraud is very low even with just one confirmation.
- Coins are not represented by strings of 1s and 0s but rather transactions recorded on a public ledger.
- Validating transactions does not require massive computing power - it can be done efficiently on a standard computer. Mining solves simple, not complex, problems to earn rewards.
- Blocks are not "solved" but found randomly through repeated hashing; the difficulty ensures one
Bitcoin the most popular cryptocurrency is being accepted widely across the globe. The technology associated with bitcoin is a rich technology for the verification of transaction. Blockchain technology offers fast, fraud resistant, efficient, cost effective way to operate peer to peer transaction..
Blockchain concept and technology. How this is becoming the next trend after the Bitcoin, expanding to a myriad of solutions. Smart contracts might be using a public distributed, and encrypted platform to support data persistence.
Blockchain and cryptocurrencies like Bitcoin enable new forms of digital money and financial contracts. Bitcoin introduced a trustless digital currency using cryptography to secure a distributed public ledger called the blockchain. Miners on the Bitcoin network process transactions and add them to blocks which get added to the immutable blockchain roughly every 10 minutes. Over time, the blockchain has grown large as a record of all transactions, posing scalability challenges. New applications like smart contracts and alternative currencies like Namecoin build on this innovation to enable decentralized applications and services.
The document provides an overview of blockchain and cryptocurrency. It begins with a brief history of cryptocurrency starting in the 1980s with early digital currency attempts. Bitcoin was introduced in 2009 by Satoshi Nakamoto as the first cryptocurrency based on blockchain technology. Blockchain works by distributing a ledger across a network of computers, making it difficult to hack. New transactions are verified and added to blocks that are chained together using cryptography. Miners use computing power to verify transactions and are rewarded with cryptocurrency. The document discusses the rise in value of bitcoin and potential opportunities for real estate buyers with large holdings of cryptocurrency. It also mentions other applications of blockchain technology beyond currency.
There are new and emerging opportunities for organisations in all sectors to create and deliver compelling services for their customers using the power of disruptive innovation. As organisations formulate their plans for the coming months, this paper aims to help business and public sector leaders understand the cultural and organisational challenges that are inevitably brought by the use of blockchain technologies, and provides them with the insights they need to overcome them.
Bitcoin is the world's first cryptocurrency, a form of electronic cash. It is the first decentralized digital currency: the system was designed to work without a central bank or single administrator.
14 Jan17- Nullmeets -Blockchain concept decoded by Ninad SarangNinad Sarang
Blockchain is a distributed public ledger that records all Bitcoin transactions in a permanent, verifiable way. It uses cryptography to ensure the integrity and security of each transaction. New transactions are grouped into blocks and added to the blockchain through a process called mining, where miners compete to solve complex math problems. In return for securing the network, miners are rewarded with new Bitcoins. This decentralized system allows for peer-to-peer transactions without an intermediary.
Easy-to-understand illustration of the system.
Bitcoin is a virtual currency that can be used on the Internet.
From the name of virtual currency, I'm a little worried, "Isn't the money disappearing in some way?"
Cryptocurrencies like Bitcoin emerged from the invention of blockchain technology, which allows for a decentralized digital ledger system without a central authority. The first cryptocurrency, Bitcoin, was created in 2008 by Satoshi Nakamoto as a peer-to-peer electronic cash system without central control. Cryptocurrencies use cryptography to securely record transactions on distributed ledgers called blockchains, preventing double spending without central servers. Their values are determined by the market rather than controlled by governments.
Bitcoin has not become a mainstream currency despite early predictions, due to various factors that prevent it from replacing existing payment systems. While it introduced peer-to-peer transactions without third parties, most mining power is concentrated in a few large pools, giving them control over the blockchain. Incentives for miners are also decreasing over time. Additionally, Bitcoin's anonymity enables illegal uses and most governments have not established a legal framework for it, while critics argue the large energy usage for mining is wasteful. Security breaches also threaten the currency's value and stability.
Cryptocurrency seminar topic presentation using MSWord.Mohd Faiz
This document provides an overview of cryptocurrency, including:
1) It discusses what cryptocurrency is, how it works using cryptography and blockchain technology, and examples like Bitcoin.
2) It then covers topics like the history and evolution of cryptocurrencies, how they are used in darknet markets, and academic studies being conducted.
3) Finally, it outlines some of the key characteristics of cryptocurrencies that differentiate them from traditional currencies, as well as advantages like anonymity and disadvantages like volatility.
This document provides an overview of Bitcoin, including:
- Bitcoin is the world's first decentralized digital currency, with no central authority.
- It uses cryptography and a peer-to-peer network to allow users to send and receive money anywhere in the world without third party intermediaries.
- The blockchain records all Bitcoin transactions in a growing list of blocks to prevent double-spending and determine the legitimate owner of coins.
This document provides an overview of cryptocurrency and Bitcoin. It defines cryptocurrency as a digital currency that uses cryptography for security. Bitcoin, created in 2009, was the first decentralized cryptocurrency. The document then discusses how Bitcoin works at a basic level, including how transactions are verified and recorded in a public ledger called the blockchain. It also covers Bitcoin mining, wallets, and some advantages and disadvantages of cryptocurrency.
Bitcoin is a digital currency that was created in 2009 by an anonymous person named Satoshi Nakamoto. It is not controlled by any government or bank and uses blockchain technology to allow peer-to-peer transactions that are verified and stored publicly. Users can purchase bitcoins through exchanges to use in their digital wallets or generate new bitcoins through mining, which involves using computer power to solve complex math problems. While mining used to be profitable, the increasing difficulty now means most miners join pools to have a chance to earn bitcoins from their efforts. The value of bitcoin fluctuates based on supply and demand and more businesses and individuals are starting to use it as its user base grows.
This document discusses smart contracts and applications, focusing on secure multiparty computations using Bitcoin contracts. It describes how Bitcoin contracts can be used to simulate coin tossing and other multiparty computations without requiring a trusted third party. Criminal uses of smart contracts, such as ordering a murder, are also discussed, along with potential solutions like authenticated data feeds. Formal modeling of contracts using timed automata is presented as a way to analyze complicated contracts.
An Investigator’s Guide to Blockchain, Bitcoin and Wallet TransactionsCase IQ
As Bitcoin and blockchains are coming into the mainstream, investigators, auditors and forensics and security professionals need to become familiar with how blockchain works and why it is so important to tomorrow’s digital security. It is important for anyone involved in forensics to understand the risk associated with Bitcoin, the most notable usage of blockchain and how applying forensics to those risks can have an impact.
Bitcoin has huge potential to revolutionize financial services, but with risk, as is implicit with any currency. We need to understand how forensic technology can reduce these risks or solve problems of financial loss should these risks materialize. Technology helps us follow flows of cryptocurrencies through wallets and the blockchain. This can be of particular use to regulators and police forces as well as investigators and auditors.
Join Simon Padgett and Sheldon Bennett of DMG Blockchain Solutions Inc. as they outline the basics of cryptocurrency transactions and their associated risks and solutions.
Introduction into blockchains and cryptocurrenciesSergey Ivliev
Slides from my intro course:
- mapping the digital asset ecosystem (as of August 2019)
- how bitcoin works - step-by-step primer?
- hashrate, dollar value transferred, transaction rate and other metrics (as of August 2019)
- hard money, uncorrelated asset and other use cases
- proof-of-stake and proof-of-identity
- horizontal and vertical scaling
- how ethereum smart contracts work?
- ERC20 token standard
- boom and bust of the ICO market (as of August 2019)
- intro into #DeFI (as of August 2019)
- stablecoins
- MarkerDAO, Compound, Uniswap and other cool decentralized finance protocols
- Cryptokitties, Storj, Peepeth and examples of non-financial dapps
A broad overview of concepts regarding cryptocurrencies and blockchain technology. This presentation covers everything from timelines, to Bitcoin and other notable cryptocurrencies, mining, forks, use cases, and much more.
Digital currencies like bitcoin can be used for payments, as a store of value, and for professional use in business. The document discusses the history and basics of bitcoin, how transactions work using the blockchain, and opportunities for using digital currencies like bitcoin for remittances, global mobile banking, micro-payments, crowdfunding, and e-commerce. It also covers bitcoin mining, wallets, and getting and spending bitcoins.
Presentation I gave at BRIGHTTALK webinar in the BLOCKCHAIN SUMMIT on 10th Oct 2017.Covers technical overview of the concept and take off essentials for Bitcoin crime investigators.Details at https://www.brighttalk.com/webcast/1570/272431/bitcoin-forensics
Bitcoin is an open-source cryptocurrency created by the pseudonymous Satoshi Nakamoto. It is a decentralized digital currency that uses peer-to-peer technology to operate without a central authority. Transactions are verified through a proof-of-work system and recorded in a public distributed ledger called a blockchain. While bitcoin offers advantages like instant transactions and anonymity, it also faces challenges like volatility, scalability issues, and the risk of losing coins if private keys are lost. Overall, bitcoin remains a controversial new currency that some see as the future while others see risks in its use and acceptance.
Bitcoin is a peer-to-peer electronic cash system that allows users to send money directly to each other over the internet without needing a trusted third party. It solves the double spending problem through proof-of-work and decentralization. Bitcoin scales to handle increasing transaction volumes through parallel processing and increasing computational resources. It uses economic incentives rather than cryptography alone to secure the network.
The document provides an overview of blockchain and cryptocurrency. It begins with a brief history of cryptocurrency starting in the 1980s with early digital currency attempts. Bitcoin was introduced in 2009 by Satoshi Nakamoto as the first cryptocurrency based on blockchain technology. Blockchain works by distributing a ledger across a network of computers, making it difficult to hack. New transactions are verified and added to blocks that are chained together using cryptography. Miners use computing power to verify transactions and are rewarded with cryptocurrency. The document discusses the rise in value of bitcoin and potential opportunities for real estate buyers with large holdings of cryptocurrency. It also mentions other applications of blockchain technology beyond currency.
There are new and emerging opportunities for organisations in all sectors to create and deliver compelling services for their customers using the power of disruptive innovation. As organisations formulate their plans for the coming months, this paper aims to help business and public sector leaders understand the cultural and organisational challenges that are inevitably brought by the use of blockchain technologies, and provides them with the insights they need to overcome them.
Bitcoin is the world's first cryptocurrency, a form of electronic cash. It is the first decentralized digital currency: the system was designed to work without a central bank or single administrator.
14 Jan17- Nullmeets -Blockchain concept decoded by Ninad SarangNinad Sarang
Blockchain is a distributed public ledger that records all Bitcoin transactions in a permanent, verifiable way. It uses cryptography to ensure the integrity and security of each transaction. New transactions are grouped into blocks and added to the blockchain through a process called mining, where miners compete to solve complex math problems. In return for securing the network, miners are rewarded with new Bitcoins. This decentralized system allows for peer-to-peer transactions without an intermediary.
Easy-to-understand illustration of the system.
Bitcoin is a virtual currency that can be used on the Internet.
From the name of virtual currency, I'm a little worried, "Isn't the money disappearing in some way?"
Cryptocurrencies like Bitcoin emerged from the invention of blockchain technology, which allows for a decentralized digital ledger system without a central authority. The first cryptocurrency, Bitcoin, was created in 2008 by Satoshi Nakamoto as a peer-to-peer electronic cash system without central control. Cryptocurrencies use cryptography to securely record transactions on distributed ledgers called blockchains, preventing double spending without central servers. Their values are determined by the market rather than controlled by governments.
Bitcoin has not become a mainstream currency despite early predictions, due to various factors that prevent it from replacing existing payment systems. While it introduced peer-to-peer transactions without third parties, most mining power is concentrated in a few large pools, giving them control over the blockchain. Incentives for miners are also decreasing over time. Additionally, Bitcoin's anonymity enables illegal uses and most governments have not established a legal framework for it, while critics argue the large energy usage for mining is wasteful. Security breaches also threaten the currency's value and stability.
Cryptocurrency seminar topic presentation using MSWord.Mohd Faiz
This document provides an overview of cryptocurrency, including:
1) It discusses what cryptocurrency is, how it works using cryptography and blockchain technology, and examples like Bitcoin.
2) It then covers topics like the history and evolution of cryptocurrencies, how they are used in darknet markets, and academic studies being conducted.
3) Finally, it outlines some of the key characteristics of cryptocurrencies that differentiate them from traditional currencies, as well as advantages like anonymity and disadvantages like volatility.
This document provides an overview of Bitcoin, including:
- Bitcoin is the world's first decentralized digital currency, with no central authority.
- It uses cryptography and a peer-to-peer network to allow users to send and receive money anywhere in the world without third party intermediaries.
- The blockchain records all Bitcoin transactions in a growing list of blocks to prevent double-spending and determine the legitimate owner of coins.
This document provides an overview of cryptocurrency and Bitcoin. It defines cryptocurrency as a digital currency that uses cryptography for security. Bitcoin, created in 2009, was the first decentralized cryptocurrency. The document then discusses how Bitcoin works at a basic level, including how transactions are verified and recorded in a public ledger called the blockchain. It also covers Bitcoin mining, wallets, and some advantages and disadvantages of cryptocurrency.
Bitcoin is a digital currency that was created in 2009 by an anonymous person named Satoshi Nakamoto. It is not controlled by any government or bank and uses blockchain technology to allow peer-to-peer transactions that are verified and stored publicly. Users can purchase bitcoins through exchanges to use in their digital wallets or generate new bitcoins through mining, which involves using computer power to solve complex math problems. While mining used to be profitable, the increasing difficulty now means most miners join pools to have a chance to earn bitcoins from their efforts. The value of bitcoin fluctuates based on supply and demand and more businesses and individuals are starting to use it as its user base grows.
This document discusses smart contracts and applications, focusing on secure multiparty computations using Bitcoin contracts. It describes how Bitcoin contracts can be used to simulate coin tossing and other multiparty computations without requiring a trusted third party. Criminal uses of smart contracts, such as ordering a murder, are also discussed, along with potential solutions like authenticated data feeds. Formal modeling of contracts using timed automata is presented as a way to analyze complicated contracts.
An Investigator’s Guide to Blockchain, Bitcoin and Wallet TransactionsCase IQ
As Bitcoin and blockchains are coming into the mainstream, investigators, auditors and forensics and security professionals need to become familiar with how blockchain works and why it is so important to tomorrow’s digital security. It is important for anyone involved in forensics to understand the risk associated with Bitcoin, the most notable usage of blockchain and how applying forensics to those risks can have an impact.
Bitcoin has huge potential to revolutionize financial services, but with risk, as is implicit with any currency. We need to understand how forensic technology can reduce these risks or solve problems of financial loss should these risks materialize. Technology helps us follow flows of cryptocurrencies through wallets and the blockchain. This can be of particular use to regulators and police forces as well as investigators and auditors.
Join Simon Padgett and Sheldon Bennett of DMG Blockchain Solutions Inc. as they outline the basics of cryptocurrency transactions and their associated risks and solutions.
Introduction into blockchains and cryptocurrenciesSergey Ivliev
Slides from my intro course:
- mapping the digital asset ecosystem (as of August 2019)
- how bitcoin works - step-by-step primer?
- hashrate, dollar value transferred, transaction rate and other metrics (as of August 2019)
- hard money, uncorrelated asset and other use cases
- proof-of-stake and proof-of-identity
- horizontal and vertical scaling
- how ethereum smart contracts work?
- ERC20 token standard
- boom and bust of the ICO market (as of August 2019)
- intro into #DeFI (as of August 2019)
- stablecoins
- MarkerDAO, Compound, Uniswap and other cool decentralized finance protocols
- Cryptokitties, Storj, Peepeth and examples of non-financial dapps
A broad overview of concepts regarding cryptocurrencies and blockchain technology. This presentation covers everything from timelines, to Bitcoin and other notable cryptocurrencies, mining, forks, use cases, and much more.
Digital currencies like bitcoin can be used for payments, as a store of value, and for professional use in business. The document discusses the history and basics of bitcoin, how transactions work using the blockchain, and opportunities for using digital currencies like bitcoin for remittances, global mobile banking, micro-payments, crowdfunding, and e-commerce. It also covers bitcoin mining, wallets, and getting and spending bitcoins.
Presentation I gave at BRIGHTTALK webinar in the BLOCKCHAIN SUMMIT on 10th Oct 2017.Covers technical overview of the concept and take off essentials for Bitcoin crime investigators.Details at https://www.brighttalk.com/webcast/1570/272431/bitcoin-forensics
Bitcoin is an open-source cryptocurrency created by the pseudonymous Satoshi Nakamoto. It is a decentralized digital currency that uses peer-to-peer technology to operate without a central authority. Transactions are verified through a proof-of-work system and recorded in a public distributed ledger called a blockchain. While bitcoin offers advantages like instant transactions and anonymity, it also faces challenges like volatility, scalability issues, and the risk of losing coins if private keys are lost. Overall, bitcoin remains a controversial new currency that some see as the future while others see risks in its use and acceptance.
Bitcoin is a peer-to-peer electronic cash system that allows users to send money directly to each other over the internet without needing a trusted third party. It solves the double spending problem through proof-of-work and decentralization. Bitcoin scales to handle increasing transaction volumes through parallel processing and increasing computational resources. It uses economic incentives rather than cryptography alone to secure the network.
Ever been troubled by the blinking sign and didn’t know what to do?
Here’s a handy guide to dashboard symbols so that you’ll never be confused again!
Save them for later and save the trouble!
EV Charging at MFH Properties by Whitaker JamiesonForth
Whitaker Jamieson, Senior Specialist at Forth, gave this presentation at the Forth Addressing The Challenges of Charging at Multi-Family Housing webinar on June 11, 2024.
Implementing ELDs or Electronic Logging Devices is slowly but surely becoming the norm in fleet management. Why? Well, integrating ELDs and associated connected vehicle solutions like fleet tracking devices lets businesses and their in-house fleet managers reap several benefits. Check out the post below to learn more.
What Could Be Behind Your Mercedes Sprinter's Power Loss on Uphill RoadsSprinter Gurus
Unlock the secrets behind your Mercedes Sprinter's uphill power loss with our comprehensive presentation. From fuel filter blockages to turbocharger troubles, we uncover the culprits and empower you to reclaim your vehicle's peak performance. Conquer every ascent with confidence and ensure a thrilling journey every time.
Understanding Catalytic Converter Theft:
What is a Catalytic Converter?: Learn about the function of catalytic converters in vehicles and why they are targeted by thieves.
Why are They Stolen?: Discover the valuable metals inside catalytic converters (such as platinum, palladium, and rhodium) that make them attractive to criminals.
Steps to Prevent Catalytic Converter Theft:
Parking Strategies: Tips on where and how to park your vehicle to reduce the risk of theft, such as parking in well-lit areas or secure garages.
Protective Devices: Overview of various anti-theft devices available, including catalytic converter locks, shields, and alarms.
Etching and Marking: The benefits of etching your vehicle’s VIN on the catalytic converter or using a catalytic converter marking kit to make it traceable and less appealing to thieves.
Surveillance and Monitoring: Recommendations for using security cameras and motion-sensor lights to deter thieves.
Statistics and Insights:
Theft Rates by Borough: Analysis of data to determine which borough in NYC experiences the highest rate of catalytic converter thefts.
Recent Trends: Current trends and patterns in catalytic converter thefts to help you stay aware of emerging hotspots and tactics used by thieves.
Benefits of This Presentation:
Awareness: Increase your awareness about catalytic converter theft and its impact on vehicle owners.
Practical Tips: Gain actionable insights and tips to effectively prevent catalytic converter theft.
Local Insights: Understand the specific risks in different NYC boroughs, helping you take targeted preventive measures.
This presentation aims to equip you with the knowledge and tools needed to protect your vehicle from catalytic converter theft, ensuring you are prepared and proactive in safeguarding your property.
Welcome to ASP Cranes, your trusted partner for crane solutions in Raipur, Chhattisgarh! With years of experience and a commitment to excellence, we offer a comprehensive range of crane services tailored to meet your lifting and material handling needs.
At ASP Cranes, we understand the importance of reliable and efficient crane operations in various industries, from construction and manufacturing to logistics and infrastructure development. That's why we strive to deliver top-notch solutions that enhance productivity, safety, and cost-effectiveness for our clients.
Our services include:
Crane Rental: Whether you need a crawler crane for heavy lifting or a hydraulic crane for versatile operations, we have a diverse fleet of well-maintained cranes available for rent. Our rental options are flexible and can be customized to suit your project requirements.
Crane Sales: Looking to invest in a crane for your business? We offer a wide selection of new and used cranes from leading manufacturers, ensuring you find the perfect equipment to match your needs and budget.
Crane Maintenance and Repair: To ensure optimal performance and safety, regular maintenance and timely repairs are essential for cranes. Our team of skilled technicians provides comprehensive maintenance and repair services to keep your equipment running smoothly and minimize downtime.
Crane Operator Training: Proper training is crucial for safe and efficient crane operation. We offer specialized training programs conducted by certified instructors to equip operators with the skills and knowledge they need to handle cranes effectively.
Custom Solutions: We understand that every project is unique, which is why we offer custom crane solutions tailored to your specific requirements. Whether you need modifications, attachments, or specialized equipment, we can design and implement solutions that meet your needs.
At ASP Cranes, customer satisfaction is our top priority. We are dedicated to delivering reliable, cost-effective, and innovative crane solutions that exceed expectations. Contact us today to learn more about our services and how we can support your project in Raipur, Chhattisgarh, and beyond. Let ASP Cranes be your trusted partner for all your crane needs!
Expanding Access to Affordable At-Home EV Charging by Vanessa WarheitForth
Vanessa Warheit, Co-Founder of EV Charging for All, gave this presentation at the Forth Addressing The Challenges of Charging at Multi-Family Housing webinar on June 11, 2024.
2. Aug
2008
Oct
2008
Nov
2008
Jan 3
2009
Jan 9
2009
Jan 12
2009
"bitcoin.org“
registered
2
Project
registered on
SourceForge.net
Bitcoin white
paper published
Genesis block
established at
18:15:05 GMT
Bitcoin v0.1 released
& announced on a
mailing list
1st transaction done,
in block #170 from
Satoshi to Hal Finney
How did it start?
We had “Hash Chains” in cryptography before. But the
notion of blockchain came to surface with Satoshi
Nakamoto’s white paper in 2008.
4. How did it become famous?
4
• Silk Road was one of the first online
black markets that used Bitcoin and TOR
technologies for anonymity.
• Silk Road was shut down in 2013 and the
admin (Ross Ulbricht) was arrested. He
was sentenced to life in prison!
• Not all the credit for Bitcoin’s fame goes
to Silk Road. The 2017’s price surge was
also a big shot.
6. • Bitcoin is one of the many
cryptocurrencies, in fact,
the 1st one.
6
• Bitcoin was built upon the
Blockchain technology.
• Bitcoin is anonymous. Not
all blockchains are like that.
• Blockchains have numerous
other applications too.
Bitcoin’s Relationship with Blockchain
(Deloitte)
7. Blockchain is a secure transaction ledger database
(initially made to facilitate currency exchanges) shared
by all the members participating in an established,
distributed network of computers. (LSTA)
So, what is blockchain?
7
8. Bitcoin Example:
Centralized vs Decentralized
Ledger
8
A bank keeps names and
account balances
We know how much one
can spend based on his
balance in the trusted bank.
Transaction
Alice 2B Bob
Bob 1B Frank
…
Instead of balance, everybody
can get a copy of the transaction
records. So, everybody can verify
if someone has got money and
where it has come from.
9. Transferring Money (animated)
• Alice wants to give Bob 5 bitcoins:
Alice Bob 5.0 BTC
• She puts this transaction on a file and sends it to
everybody she knows, and those will forward the
transaction to everybody they know, and so on.
9
Here, we have shown a
ledger by balances for
simplicity. It is the
transactions list in
practice.
How transactions are flooded
(CuriousInvestor)
10. How does Alice Prove she has the Money to Spend?
10
• There is no balance!
• Instead, she mentions
the previous (input)
transactions.
• Everybody can verify (by
signatures) that she has
received 5 bitcoins
(from Charles and Fred).
(CuriousInvestor)
11. Transaction Protection
11
• How do the people make sure that it was
actually “A” who did the transaction?
• By Digital Signature!
• When you’re paid, the money is sent to your
public key.
• You may spend the money by signing another
transaction using the private key corresponding
to that public key.
You don’t send someone the
money. You actually send it to his
public key!
(CuriousInvestor)
12. How the Transactions are Protected
by Key Pairs and Digital Signature
EKprA
(H(m))
Alice
I give 2
Bitcoins to
Bob’s
Public key
I give 2
Bitcoins to
Alice’s
Public Key
Bob
Everyone will know about
this transaction then
George’s
George
George’s
12
13. Anonymity
Anonymity is achieved by not binding the key pairs to their owners’
true identity.
From outside, it is as if a bunch of
public keys are doing business
with each other.
Users can have multiple key pairs.
13
15. A Security Concern
(CuriousInvestor)
15
If you’re here, you receive the
1st (actual) transaction after
the second (fraudulent) one.
Due to the network topology, a money can be spent twice and the 2nd
transaction is accepted first! Therefore, the 1st transaction (which was
real) can be deemed fraudulent and double spending.
16. Example of Double Spending Fraud
• Alice buys a product from Bob. Right after he ships the
item, Alice makes another transaction and gives the
money back to herself (using another key pair).
16
This node wants to
deal with Bob, what
does he think?
#273A…
(CuriousInvestor)
17. Blockchain:
A way to Find the Right Transactions Order
• There will be disagreements in the network whether Alice or Bob
owns the money.
• We should find a way to figure out the correct transaction order.
• That was how blockchain was invented.
17
19. Who Should Make a Block?
19
A block is made of a set of transactions happened in the same
time slot (around 10 mins).
In PoW, any node can create a
block, and by creating the block,
makes the transactions permanent
(along the branch).
To make a block, the node must
solve a hard mathematical puzzle.
20. Mining !
To make a block, one has
to add a number to the
transaction data in a way
that the puzzle is solved.
20
…
It Bitcoin, the puzzle is
hash function
finding a
value that it is smaller
than a target threshold. H(Block)=000000000681FAE1BC0830D8
It’s Difficult !
21. Mining (Cont.)
Why should people do this?
There’s an incentive! That’s
how money is created!
Initially the reward was 50
Bitcoins. Every 4 years, the
reward is divided by 2. Now
(2018) if you solve one block,
you get 12.5 bitcoins.
21
24. Bitcoin is not Alone
• There are plenty of other cryptocurrencies
• Monero
• Litecoin
• Zcash
• Ripple
• IOTA (based on tangles)
• …
• But Ethereum opened a new chapter in blockchains in 2013.
24
25. Ethereum
Ethereum’s idea was
conceived by Vitalik
Buterin in 2013. But
it went live in 2015.
He wanted to generalize the idea of blockchains, and mixed it with
programming. That’s how “Smart Contract” was born.
25
26. What is a Smart Contract? (animated)
• It’s a piece of computer program, stored in blockchain.
26
27. In Ethereum, you can interact with
smart contracts as well as human
beings (2 account types).
We can write a smart contract
(program) that collects money for a
project. Programs can have if/then.
If the collected money 2: T , then
{
Transfer money to the team
}
else
{
refund the money
}
Crowdsourcing with Smart Contracts
27
28. How are the Blocks Verified?
Similar to Bitcoin, everybody receives a copy of
the smart contract (program) as well as all the
other interactions done with it.
Each member can run the code on his/her
computer and give it the same interactions to
find the current state of the contract.
(bitsonblocks.net)
28
29. How are the Blocks Verified?
Again, we can use the blockchain to ease the processing and make sure
the interactions are in the correct order.
We can rely on the miners if we want not to do all the work.
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(Savjee)
30. Some Business Domains Affected
FINANCIAL
Banking & Payments,
Loans, Gambling, …
INTERNET & CYBERSEC
IoT, Domain Name System,
Trust Management, …
ENERGY
Smart Grid P2P Energy
Exchange, …
OWNERSHIP/COPYRIGHT
Music & Film Industries
Real Estate
SERVICE/GOVERNANCE
eVoting, Crowdfunding, Charity,
Justice System
INDUSTRY
Supply Chain,
Insurance
Blockchain
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33. Some Deliverables on Blockchain in FG‐DPM
33
WG3: Data Sharing, Interoperability and Blockchain
(SG11 Workshop, 15 November 2017, ITU‐T activities on Blockchain)