Cryptocurrency.

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Presentation transcript:

Cryptocurrency

Cryptocurrency What is it? What problems does it solve? What problems does it introduce?

Concepts Digital Signature (Public Key Cryptography) Mining (Proof of work) Blockchain (Double-spend problem)

Public/Private Key Cryptography KohanX [Public domain]

Bitcoin Wallet You could make a public/private keypair for every transaction, so that transactions could not be grouped and tracked to the same address.

Hello Bob, I want to buy your book for 0.01XBT. $38.00 FlippyFlink [Public domain]

Hello Alice, here’s the book. David Gothberg [Public domain]

Double-Spend https://coinsutra.com/bitcoin-double-spending/

Mining

Hash SHA256: “The quick brown fox jumps over the lazy dog.” ef537f25c895bfa782526529a9b63d97aa631564d5d789c2b765448c8635fb6c “The quick brown fox, jumps over the lazy dog.” 392bfd94c083e025e46d0be3ff9258c8bfc33bcd3296156f76c722f339a98dfb The text of “War and Peace” 1feba561bf9106f3cbf6d78dd0c6056eef6ab59f15a30e64530ea6aea91d4e07 http://www.gutenberg.org/files/2600/2600-0.txt 32-bit word

Mining Process - 12.5 XBT per block https://www.tutorialspoint.com/blockchain/bitcoin_ mining.htm Almost $50K.

Blockchain

Longest Chain wins You can pay miners incentives to include your transactions sooner You should wait for a certain number of blocks to be added before trusting a transaction is valid By original file: Theymos from Bitcoin wikivectorization: User:Razorblissrotation: Own work - File:Blockchain.svg, CC BY 3.0, https://commons.wikimedia.org/w/index.php?curid=66599857

What problems does it introduce? Irreversible Hackable Not really anonymous Not really decentralized

"Energy Efficiency across Programming Languages: How does Energy, Time and Memory Relate?", Rui Pereira, Marco Couto, Francisco Ribeiro, Rui Rua, Jácome Cunha, João Paulo Fernandes, and João Saraiva. In Proceedings of the 10th International Conference on Software Language Engineering (SLE '17) https://github.com/greensoftwarelab/Energy-Languages#energy-efficiency-in-programming-languages