Bitcoin SV DevCon 2020: Economic Incentives and the Bitcoin Network

140 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

anchusport
Published
Bitcoin Association Training and Development Manager Brendan Lee gives the participants of the inaugural Bitcoin SV DevCon an overview of the function of nodes on the BSV network and the role of economics in Bitcoin’s game-changing incentive system.

Read the full article here:

Subscribe to our channel now! https://www.youtube.com/BitcoinAssn

⏰ Time Stamps ⏰

00:07 Bitcoin SV Devcon 2020: Economic Incentives and the Network Introduction by Brendan Lee, Training and Development Manager of Bitcoin Association
00:53 Bitcoin: A Peer-to-Peer Electronic Cash System
04:23 Set of steps to run network
05:32 Step 1: New transactions are broadcast to all nodes
08:33 Step 2: Each node collects new transactions into a block
12:11 Step 3: Each node works on finding a difficult proof-of-work for its block
15:44 Step 4: When a node finds a proof of work, it broadcasts the block to all nodes
23:00 Step 5: Nodes accept the block only if all transactions in it are valid and not already spent
28:30 Step 6: Nodes express their acceptance of the block by working on creating the next block in the chain, using the hash of the accepted block as the previous hash
29:53 Summary
35:22 Question from nCHAIN CTO, Steve Shadders


==========================================================================

Apply to be a member of the Bitcoin Association today! https://bitcoinassociation.net/membership/

==========================================================================

Pre-register for the first-ever BSV Developer Conference now! https://bsvdevcon.net/

==========================================================================

Why choose Bitcoin SV? https://bitcoinassociation.net/why-bitcoin-sv/

Check out the current Bitcoin Association ambassadors! https://bitcoinassociation.net/about-us/

Learn more about the different use cases of the BSV blockchain. https://bitcoinassociation.net/enterprise/use-cases/

==========================================================================

Follow us on social media:

https://twitter.com/BitcoinAssn
https://www.linkedin.com/company/bitcoinassociation
https://www.facebook.com/BitcoinAssn
https://www.weibo.com/BitcoinAssociation

==========================================================================
#BitcoinSV #BSV #Bitcoin #WeChooseSV #Blockchain #BSVDevCon2020 #BrendanLee
Category
Crypto Investing
Tags
Be the first to comment