Blockchain 101
summary
Explains blockchain as a distributed ledger replacing bank trust, demonstrates sealing a block with a paper live demo and a proof-of-work puzzle that costs real computation to solve (demo run cost ~£200–£300), shows blocks are immutable once closed, notes Bitcoin has a 21 million cap with ~16.7M issued and scheduled halving, describes miner economics, and warns about centralization from mining pools 30–35% and how a 51% attack is theoretically possible but extremely costly.
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chapters (9)
- 0:00Introduction
- 2:34What is blockchain
- 5:50Distributed ledgers vs banks
- 7:16Live demo: transaction
- 12:21Proof of work and mining
- 16:35Security and 51% attacks
- 19:03Bitcoin supply and halving
- 21:01Mining pools profitability
- 22:57Q&A
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