Bitcoin and Cryptocurrency Technologies: A Comprehensive by Arvind Narayanan, Joseph Bonneau, Edward Felten, Andrew PDF

By Arvind Narayanan, Joseph Bonneau, Edward Felten, Andrew Miller, Steven Goldfeder

ISBN-10: 0691171696

ISBN-13: 9780691171692

Bitcoin and Cryptocurrency Technologies presents a finished creation to the progressive but frequently misunderstood new applied sciences of electronic foreign money. no matter if you're a scholar, software program developer, tech entrepreneur, or researcher in laptop technology, this authoritative and self-contained e-book tells you every thing you must learn about the hot worldwide funds for the web age.

How do Bitcoin and its block chain really paintings? How safe are your bitcoins? How nameless are their clients? Can cryptocurrencies be regulated? those are many of the many questions this publication solutions. It starts off by means of tracing the background and improvement of Bitcoin and cryptocurrencies, after which provides the conceptual and useful foundations you want to engineer safe software program that interacts with the Bitcoin community in addition to to combine principles from Bitcoin into your personal initiatives. issues contain decentralization, mining, the politics of Bitcoin, altcoins and the cryptocurrency atmosphere, the way forward for Bitcoin, and more.

  • An crucial creation to the recent applied sciences of electronic currency
  • Covers the historical past and mechanics of Bitcoin and the block chain, safeguard, decentralization, anonymity, politics and rules, altcoins, and lots more and plenty more
  • Features an accompanying web site that incorporates tutorial movies for every bankruptcy, homework difficulties, programming assignments, and lecture slides
  • Also appropriate to be used with the authors' Coursera on-line course
  • Electronic recommendations handbook (available in simple terms to professors)

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Additional info for Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction

Sample text

That said, it probably wasn’t Satoshi’s original reason. The first time Satoshi used the name Satoshi Nakamoto, he hadn’t even released the white paper or the codebase for Bitcoin, and it’s hard to imagine that he had any idea that it would be as successful as it was. In fact, at many points in its early history, Satoshi was optimistic but cautious about Bitcoin’s prospects. He seems to have understood that many previous efforts had failed and that Bitcoin might fail as well. CONCLUDING REMARKS The success of Bitcoin is quite remarkable if you consider all the ventures that failed trying to do what it does.

Satoshi says that he took an opposite approach: “I actually did Bitcoin kind of backwards. I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper. ” Since a bit of myth surrounds Satoshi, it’s worth mentioning that he made mistakes like everyone else and wasn’t a perfect oracle of the future. There are bugs and questionable design choices in the original Bitcoin code. For example, a feature to send bitcoins to IP addresses never caught on and, in retrospect, was a bad idea.

Did Satoshi know any of that history when designing Bitcoin? It’s hard to tell. He didn’t give any indication of knowing that history, but it’s just as likely that he didn’t reference the history because it wasn’t relevant to Bitcoin. Bitcoin uses a completely different decentralized model, so there’s no compelling reason to dwell on old centralized systems that failed. Satoshi himself makes this point, by mentioning Chaumian ecash in passing, in one of his posts to the Bitcoin forums. org, he notes that they seem to be “talking about the old Chaumian central mint stuff, but maybe only because that was the only thing available.

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Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction by Arvind Narayanan, Joseph Bonneau, Edward Felten, Andrew Miller, Steven Goldfeder


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