An academic lecture by Andreas M. Antonopoulos explaining the consensus algorithm, "Proof of Work", used by bitcoin and many other blockchains. Andreas is a UCL alum.
Chapters
0:00 Introduction
1:38 What is bitcoin?
3:07 SHA-256
21:28 Consensus rules
23:47 25 bitcoin reward
26:38 Who sets the validation rules?
28:46 Bitcoin blockchain technology explained
46:23 Other protocols for consensus
47:14 The longest chain and blocks
51:07 Bitcoin mining
53:27 How often does a fork happen?
1:06:41 Every node has to fully validate from the genesis block to today
1:08:31 Nakamoto consensus
1:09:14 Scaling other consensus algorithms
1:10:44 Consensus algorithm as a scientific discipline
1:11:51 Process consensus
1:13:02 Reference consensus
1:13:25 5 consensus constituencies
1:15:33 It's not so easy to shift consensus in bitcoin
1:17:33 How many transactions can you get done in 10 minutes?
1:21:43 Bitcoin and Moore's law
This talk was presented in collaboration with the Department of Computer Science at University College London.
If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop
RELATED:
What is Consensus: Rules without Rulers - https://youtu.be/2tqo7PX5Pyc
Bitcoin Security: Bubble Boy and the Sewer Rat - https://youtu.be/810aKcfM__Q
Bitcoin, A New Species of Money: An Evolutionary Perspective on Currency - https://youtu.be/G-25w7Zh8zk
Measuring Success: Price or Principle - https://youtu.be/mPMsbgWl9p4
Why Open Blockchains Matter - https://youtu.be/uZPIz3ArQww
Decentralised Globalisation - https://youtu.be/QoiR4aNbTOw
Investing in Education instead of Speculation - https://youtu.be/6uXAbJQoZlE
Beyond Price: Bitcoin's Impact on the Future - https://youtu.be/rvwVbRQ5Ysc
How does the Blockstream satellite work? - https://youtu.be/C1GxxlqRkKQ
Regulation and the bank boycott - https://youtu.be/8ypH69Cb1l0
Remittances and smuggling in Venezuela - https://youtu.be/RRXecXfWARw
Bitcoin as everyday currency - https://youtu.be/xYvvSV4mjH0
What is the appeal of sound money? - https://youtu.be/tfba4FFErrQ
Hyperbitcoinization - https://youtu.be/AB5MU5fXKfo
Why permissioned blockchains fail - https://youtu.be/GEQzlJ_WL-E
Protocol development security - https://youtu.be/4fsL5XWsTJ4
How to avoid re-creating systems of control - https://youtu.be/EfoGnDoaBL8
Wallets, nodes, and monetary sovereignty - https://youtu.be/8Hb3tUn8s4E
Is bitcoin testing governments? - https://youtu.be/UfRGo2LAIpo
Will governments let privacy coins exist? - https://youtu.be/30sjEW70rLE
Geopolitics and state-sponsored attacks - https://youtu.be/htxPRTJLK-k
Governance and social attack immunity - https://youtu.be/PjOHatoX6Fk
Sanctions and censorship resistance - https://youtu.be/DeXe5eGRl7E
State-sponsored digital currencies and trust minimization - https://youtu.be/dSpFbg7jlDw
Taxation and failed societies - https://youtu.be/xspdlOtBjcE
Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.
Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/
He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
Subscribe to the channel to learn more about Bitcoin & open blockchains; click on the red bell to enable notifications about new videos!
MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9
Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/
THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs
THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ
Translations of THE INTERNET OF MONEY:
Spanish, 'Internet del Dinero' (v1) - https://amzn.to/2yoaTTq
French, 'L'internet de l'argent' (v1) - https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390
Russian, 'Интернет денег' (v1) - https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg
Vietnamese, 'Internet Của Tiền Tệ' (v1) - https://alphabooks.vn/khi-tien-len-mang
MASTERING ETHEREUM (Q4): https://amzn.to/2xdxmlK
Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
Join the aantonop Channel: https://aantonop.io/joinaantonopyt
Chapters
0:00 Introduction
1:38 What is bitcoin?
3:07 SHA-256
21:28 Consensus rules
23:47 25 bitcoin reward
26:38 Who sets the validation rules?
28:46 Bitcoin blockchain technology explained
46:23 Other protocols for consensus
47:14 The longest chain and blocks
51:07 Bitcoin mining
53:27 How often does a fork happen?
1:06:41 Every node has to fully validate from the genesis block to today
1:08:31 Nakamoto consensus
1:09:14 Scaling other consensus algorithms
1:10:44 Consensus algorithm as a scientific discipline
1:11:51 Process consensus
1:13:02 Reference consensus
1:13:25 5 consensus constituencies
1:15:33 It's not so easy to shift consensus in bitcoin
1:17:33 How many transactions can you get done in 10 minutes?
1:21:43 Bitcoin and Moore's law
This talk was presented in collaboration with the Department of Computer Science at University College London.
If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop
RELATED:
What is Consensus: Rules without Rulers - https://youtu.be/2tqo7PX5Pyc
Bitcoin Security: Bubble Boy and the Sewer Rat - https://youtu.be/810aKcfM__Q
Bitcoin, A New Species of Money: An Evolutionary Perspective on Currency - https://youtu.be/G-25w7Zh8zk
Measuring Success: Price or Principle - https://youtu.be/mPMsbgWl9p4
Why Open Blockchains Matter - https://youtu.be/uZPIz3ArQww
Decentralised Globalisation - https://youtu.be/QoiR4aNbTOw
Investing in Education instead of Speculation - https://youtu.be/6uXAbJQoZlE
Beyond Price: Bitcoin's Impact on the Future - https://youtu.be/rvwVbRQ5Ysc
How does the Blockstream satellite work? - https://youtu.be/C1GxxlqRkKQ
Regulation and the bank boycott - https://youtu.be/8ypH69Cb1l0
Remittances and smuggling in Venezuela - https://youtu.be/RRXecXfWARw
Bitcoin as everyday currency - https://youtu.be/xYvvSV4mjH0
What is the appeal of sound money? - https://youtu.be/tfba4FFErrQ
Hyperbitcoinization - https://youtu.be/AB5MU5fXKfo
Why permissioned blockchains fail - https://youtu.be/GEQzlJ_WL-E
Protocol development security - https://youtu.be/4fsL5XWsTJ4
How to avoid re-creating systems of control - https://youtu.be/EfoGnDoaBL8
Wallets, nodes, and monetary sovereignty - https://youtu.be/8Hb3tUn8s4E
Is bitcoin testing governments? - https://youtu.be/UfRGo2LAIpo
Will governments let privacy coins exist? - https://youtu.be/30sjEW70rLE
Geopolitics and state-sponsored attacks - https://youtu.be/htxPRTJLK-k
Governance and social attack immunity - https://youtu.be/PjOHatoX6Fk
Sanctions and censorship resistance - https://youtu.be/DeXe5eGRl7E
State-sponsored digital currencies and trust minimization - https://youtu.be/dSpFbg7jlDw
Taxation and failed societies - https://youtu.be/xspdlOtBjcE
Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.
Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/
He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
Subscribe to the channel to learn more about Bitcoin & open blockchains; click on the red bell to enable notifications about new videos!
MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9
Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/
THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs
THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ
Translations of THE INTERNET OF MONEY:
Spanish, 'Internet del Dinero' (v1) - https://amzn.to/2yoaTTq
French, 'L'internet de l'argent' (v1) - https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390
Russian, 'Интернет денег' (v1) - https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg
Vietnamese, 'Internet Của Tiền Tệ' (v1) - https://alphabooks.vn/khi-tien-len-mang
MASTERING ETHEREUM (Q4): https://amzn.to/2xdxmlK
Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
Join the aantonop Channel: https://aantonop.io/joinaantonopyt
