Cryptocurrencies, Blockchains, and Applications

Goals

• Understand what a Bitcoin (or other cryptocurrency) is (and is not)
• Explain the challenges of distributed consensus
  • Explain how blockchains overcome this challenge
• Explain how proof of work works
• Understand where cryptocoins come from
• Assess whether a particular application is a good use for blockchains

Cryptocurrencies & Blockchains

• What is a Bitcoin?
• How is a Bitcoin spent?
• What is double spending? Why is it a problem?
  • How is it addressed by cryptocurrencies?
• Why is distributed consensus hard?
  • How is it addressed by cryptocurrencies?
• How are Bitcoins produced?
  • How has the process changed over time?

Applications

• What properties do blockchains provide?
• What properties do they uniquely provide?
• How do permissionless vs. permissioned blockchains differ?
• What are some example applications that do/don’t need a blockchain?