How the Bitcoin Protocol Actually Works • Jan Møller • GOTO 2014

This presentation was recorded at GOTO Aarhus 2014 http://gotocon.com Jan Møller - Principal Engineer at Mycelium & Expert on Bitcoin ABSTRACT A solution to a problem that by many scientists was believed impossible to solve was proposed in 2008 by Satoshi Nakamoto. Since then the Bitcoin network has grown to be the biggest distributed computer in existence. In this talk I will explain how Bitcoin works at a technical level and discuss other possible applications of 100% decentralized networks. TIMECODES 0:00 Introduction 0:26 How Does Bitcoin Actually Work? 3:06 What is Bitcoin? 6:44 Bitcoin Solves Two Things 7:34 Distribution of Funds 9:40 The Block Chain 11:52 Introducing SHA-256 16:10 The Difficulty Adapts 18:14 Block Propagation 18:43 Forks are Normal (1) 20:42 Bitcoin Public/Private keys 21:41 Bitcoin Addresses 22:57 Transactions simplified 23:43 Creating a Transaction (4/7) 27:50 Transaction Relaying 30:22 Transactions in Forks (1) 31:21 Transactions in Forks (2) 32:11 Properties of Bitcoin (1/3) 34:52 Properties of Bitcoin (3/3) 35:28 Block Chain Tech is New Download slides and read the full abstract here: https://gotocon.com/aarhus- 2014/presentation/How%20the%20Bitcoin%20Protocol%20Actually%20Works RECOMMENDED BOOKS Andreas M. Antonopoulos & David A. Harding • Mastering Bitcoin 3rd Edition • https://amzn.to/49xfvI5 Andreas M. Antonopoulos • Mastering Bitcoin • https://amzn.to/4fgVGWB Jimmy Song • Programming Bitcoin • https://amzn.to/4g3GFsD https://bsky.app/profile/gotocon.com https://twitter.com/GOTOcon https://www.linkedin.com/company/goto- https://www.instagram.com/goto_con https://www.facebook.com/GOTOConferences #Bitcoin #Chainalysis #Web3 #Blockchain #JanMoller #PrivateKey #CyberSecurity CHANNEL MEMBERSHIP BONUS Join this channel to get early access to videos & other perks: https://www.youtube.com/channel/UCs_tLP3AiwYKwdUHpltJPuA/join Looking for a unique learning experience? Attend the next GOTO conference near you! Get your ticket at https://gotopia.tech Sign up for updates and specials at https://gotopia.tech/newsletter SUBSCRIBE TO OUR CHANNEL - new videos posted almost daily. https://www.youtube.com/user/GotoConferences/?sub_confirmation=1