How do they agree?

Mining

The Blockchain

  • Distributed
  • Time-stamped
  • Public & Verifiable
  • Persistent

What's the fuzz about?

  • Contracts
  • Shares & dividend payments
  • Intellectual property
  • Voting
  • Distributed web apps
  • Smart contracts
  • ...

Demo

Proof of Work

  • First transaction: Block reward
  • Add a random number
  • Proof of Work: HASH(Block) < Difficulty

Proof of Stake

  • First transaction: Block reward
  • Add timestamp in seconds
  • Proof of Stake: HASH(Block) * Stake > Difficulty

My coins

  • Bitcoin: The original
  • Peercoin: PoS
  • Ethereum: Programmable Blockchain

In depth topics

  • Pegged side-chains
  • Distributed Autonomous Organisations (DAO)
  • Distributed web apps (Dapps)
  • M-of-N oracles
  • Multi-step contracts
  • Blockchain as a Service

References

  • http://www.ybrikman.com/writing/2014/04/24/bitcoin-by-analogy/