A brief introduction to the world of bitcoin and it's underlying technology - blockchain.
How do you come from the concept of digital currency to bitcoin to blockchain to a custom investment exchange platform - marketics?
How to create your own cryptocurrency?
2. agenda
motivation - work on marketics
digital cash short history
bitcoin overview
blockchain technology - the basis
build your own cryptocurrency
* Marketics
6. digitalcashrepresentingfiatcurrency
● double-spending, so cash-spent ledgers, then
● anonymity lost, so ‘blind signatures’, then
○ Chaum 1983 (voter and ballot example)
● online only, so don’t prevent double-spending, detect it
■ Chaum et al. 1988: detect double spending, not prevent it
● 1989: Chaum’s DigiCash
○ failure, merchants weren’t keen,
■ additional communication for the receiver, so b2c only
10. bitcointimeline
● 2007 - coding started
● 2008 - bitcoin.org registered
● 2010 - Satoshi still anonymous goes offline
○ cyberpunk anonymity
○ AML/patent legal issues
○ personal security
● 2010 may - pizza bought for 10000 BTC
● 2013 apr - Mt Gox handles 70% of BTC world trade
● 2013 may - Mt Gox goes down
● 2013 oct - Silk Road taken down
● 2014 jan - 1 BTC = 1000 USD
11. ...andfriends
litecoin - few changes to bitcoin (scrypt vs SHA-256, speed)
dogecoin - for fun
ripple - any asset, no POW
ethereum - smart contract focus
12. marketcapchart
name market cap mln USD
bitcoin 6831
ripple 202
litecoin 156
ethereum 72
dash 20
dogecoin 14
* 7/1/2015 (coinmarketcap.com); < 10 mln USD ignored
16. Thecommonunderlyingtech
A block chain or blockchain is a permissionless distributed
database based on the bitcoin protocol that maintains a
continuously growing list of transactional data records
hardened against tampering and revision, even by operators
of the data store's nodes.
* 7/1/2015 wikipedia