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Images of bank notes: http://banknotes.resbank.co.za/banknotes. Accessed 2016-06-11
Image of Alice: http://jojoesart.deviantart.com/art/Alice-in-Wonderland-301425862. Accessed 2016-06-11
Image of coin: http://www.coinzoo.net/africa-world-coin-collection/item/south-africa-5-rand-km492. Accessed 2016-06-11
• Transaction Number: Transaction #1
• Transaction inputs: R20 note and R10 note from me
• Transaction outputs: R25 to Alice and R5 back to me as
change
• Transaction contract: “I Nic reserve the
aforementioned amount for Alice, who has to present
her signature as ID to claim the funds”
• Signature: Nicolas I. Cardenas
• We make duplicates for both of our record keeping
IOU image: https://bestmobileappawards.com/app-submission/iou-pro-debt-manager. Accessed 2016-06-11
• Transaction Number: Transaction #2
• Transaction inputs: R25 owed to Alice from transaction #1
• Transaction outputs: R10 to Bob and R15 back to Alice as
change.
• Transaction contract: “I Alice reserve the aforementioned
amount for Bob, who has to present his signature as ID to
claim the funds”
• Signature: Alice Liddell
• Make duplicates of all transactions so they have a paper
trail of the transfer of fundsImage of Bob Marley: http://www.hunter.cuny.edu/afprl. Accessed 2016-06-11
Image of Charlie Chaplin: https://meatgrinder.co/colour-charlie-chaplin-301823.html. Accessed 2016-06-11
Transaction #1
Transaction #2
• Bob gives the transactions to our mutual friend Charlie to
verify
• Charlie checks that Alice has enough listed against her
name to pay Bob, and further more that I have enough
to pay Alice
• Charlie checks that each time value is transferred, the
person transferring the money has signed to prove it is
indeed them unlocking the funds
Nic’s unspent amounts:
R5 from Transaction #1
Alice’s unspent amounts:
R15 from Transaction #2
Bob’s unspent amounts:
R10 from Transaction #2
Image of distributed network: http://anet.sourceforge.net/docs/user/userIntro.html. Accessed 2016-06-11
N
Miner image: https://www.cryptocoinsnews.com/kncminer-ditches-customers-favor-mining-bitcoin-litecoin-themselves/ Accessed 2016-06-12
Block
Now how does one get the entire network
to come to a consensus on who verified
the TXs?? Can’t use a timestamp.
Crossword image: http://www.animationoptions.com/photobphi/empty-crossword-template. Accessed 2016-06-12
A puzzle
Block
Block header
Block
Block header
Blockchain image: http://alexgorale.com/how-to-program-block-chain-explorers-with-python-part-1. Accessed 2016-06-12
Calculator image: http://calculator.citizen-europe.com/. Accessed 2016-06-12
Cell phone image: http://www.notebookcheck.net/Sony-Xperia-Z5-Compact.150067.0.html. Accessed 2016-06-12
So the miners process the code in each transaction. They will only do it though if there is enough money tied to that contract to pay to process code.
The advantage of this is that programs can be executed on a distributed network where no one can tamper because it is running on every miner simultaneously.
If there isn’t enough money, the miner just won’t run ones code.
Use cases for Ethereum
..\..\..\Desktop\Slock.it - Ethereum
Blockchain + IoT.mp4
..\..\..\Desktop\Augur - How A
Decentralized Prediction Market Works
(Narrated by Shooter Jennings).mp4
..\..\..\Desktop\TransActive Grid
Intro.mp4
Mastering Bitcoin – Andreas Antonopolous
Coursera – Bitcoin and Cryptocurrency
technologies
Bitcoin Academy – 3 courses
Bitcoin whitepaper by Satoshi Nakamoto
Ethereum whitepaper
Questions?
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