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

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