Introduction to Bitcoin

Dear all,

After the successful launch of our Cryptocurrency Group, the second Meetup is in its planning. This time, the talk is going to be a bit more technical – but still on a level where everybody will be able to follow.

In order to make comparisons of the various crypto-currencies out there, we will start with the Bitcoin. As discussed at the last Meetup, other currencies will follow, but it is valuable to have an understanding of a famous reference in advance. Therefore, Corné Plooy will bring us up to speed.

18:30 – Meet&Greet, grab a beer

19:00 – Talk: Introduction to Bitcoin

So much is being written about crypto-currencies by people who know so little about it! It's about time you learn how they really work. Since we're at the TU Delft, let's start with understanding the technology.

I will explain how the technology of Bitcoin works "under the hood". How does it work, and why was it designed like that? As the first successful crypto-currency, Bitcoin's technology has been used as a template for several other ones, such as Litecoin, Monero and Ethereum. Understanding Bitcoin serves as a starting point for understanding those other currencies as well.

Talk includes:

• Small introduction, objectives of the Bitcoin design

• Chain of transactions; digital signatures; wallets

• The double-spending problem

• De-centralized decision making; Sybil attack problem

• Secure hashes; proof-of-work "voting" / "lottery"

• The block chain

• Miner reward (initial coin distribution, tx fees)

20:00 – Discussion / Ideas / Nerd-talk

20:30 – Hack, have another beer

For any sorts of questions do not hesitate to contact me: mail@marcjuch.li

Looking forward to see you!