50p 2017

A conference about India's digital payments ecosystem.

BitCoin Demystified

Submitted by Mohan Palaniappan (@mohanpal) on Monday, 3 October 2016

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Technical level

Beginner

Section

Crisp talk

Status

Submitted

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Abstract

Most of the articles about BitCoin barely scratches the surface and make its readers feel like they know everything about BitCoin. Those articles are primarily designed to market BitCoin or their business around BitCoin rather than educating its internals to the readers. Let me ask you few questions. If you are not confident, this session is for you to learn about it and much more. Learn more about BitCoin and walk out like a real expert.

Outline

1) What is a BitCoin Transaction?
2) How BitCoin network gets established?
3) How can someone execute 51% attack?
4) What is the use of Merkle tree?
5) How often miners run out of nonce?
6) What is locking and unlocking script? How it works?
7) How the network difficulty is determined and who controls it?
8) How exactly the double spending attack is prevented?

Speaker bio

Mohan Palaniappan is a long time Crypto Currency entusiast, BitCoin Trader and (was) a miner. He has conducted BitCoin sessions in PayPal as well as few external venues. He is very passionate about upcoming technologies and keep a close eye on tech world. He has more than a decade experience in the Software industry and has a personal blog https://mohanpalaniappan.com where he scribbles sometimes. He is a Domain Technical Lead and Subject Matter Expert in PayPal customer support product development group. Other than work, Hacker News and reddit are his favourite hangout places.

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