Florida Bitcoin Citadel Presents: Bitcoin 101 | Kurt Wuckert Jr. | #LDNBlockchain23

Discover the fundamentals of Bitcoin, the revolutionary peer-to-peer electronic cash system, at #LDNBlockchain23. Learn how Bitcoin solves the double-spend problem, utilizes proof of work, and operates as a decentralized, secure, and global currency.

Key takeaways
  • Bitcoin is a peer-to-peer electronic cash system designed for fast, cheap, and frictionless payments.

  • Bitcoin solves the double-spend problem by using proof of work to validate transactions and create new blocks.

  • Proof of work is a process that requires computers to solve complex mathematical problems in order to add new blocks to the blockchain.

  • The blockchain is a distributed, public ledger that records all Bitcoin transactions.

  • Bitcoin is decentralized, meaning that it is not controlled by any single entity.

  • Bitcoin is secure because it uses cryptography to protect transactions and the blockchain.

  • Bitcoin is pseudonymous, meaning that users can transact without revealing their identities.

  • Bitcoin is scarce, as there will only ever be 21 million bitcoins created.

  • Bitcoin is global, meaning that it can be used to send and receive payments anywhere in the world.

  • Bitcoin is open-source, meaning that anyone can contribute to its development.