1 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

2 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

3 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

4 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

5 of 164

0x2a2

0xbc1

0x6e2

0x171

Time to double spend

Blockchains

6 of 164

0xbc1

Blockchains

7 of 164

0xbc1

Blockchains

8 of 164

0xbc1

Blockchains

9 of 164

0xbc1

Blockchains

10 of 164

0xbc1

Blockchains

11 of 164

0xbc1

Blockchains

12 of 164

0xbc1

Blockchains

13 of 164

0xbc1

Blockchains

14 of 164

0xbc1

Blockchains

15 of 164

0xbc1

Blockchains

16 of 164

0xbc1

Blockchains

17 of 164

0xbc1

Blockchains

18 of 164

0xbc1

Blockchains

19 of 164

0xbc1

Blockchains

20 of 164

0xbc1

Blockchains

21 of 164

0xbc1

Blockchains

22 of 164

0xbc1

Blockchains

23 of 164

0xbc1

Blockchains

24 of 164

0xbc1

Blockchains

25 of 164

0xbc1

Blockchains

26 of 164

0xbc1

Blockchains

27 of 164

0xbc1

Blockchains

28 of 164

0xbc1

Blockchains

29 of 164

0xbc1

Blockchains

30 of 164

0xbc1

Blockchains

31 of 164

0xbc1

Blockchains

32 of 164

0xbc1

Blockchains

33 of 164

0xbc1

Blockchains

34 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

35 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

36 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

37 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

38 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

39 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

40 of 164

0x171

Blockchains

41 of 164

0x171

Blockchains

42 of 164

0x171

Blockchains

43 of 164

0x171

Blockchains

44 of 164

hash( +

) =

​

0x171

Blockchains

45 of 164

hash( +

) =

​

0x171

Blockchains

46 of 164

hash( +

0x1551d4ab40437f2376c8468da4f3bddf77f2ae

) =

​

​

0x171

Blockchains

47 of 164

hash( +

0x1551d4ab40437f2376c8468da4f3bddf77f2ae

) =

​

0x9ce30aa6b3725280688c9cf55251e92bdd642e

​

0x171

Blockchains

48 of 164

hash( +

0x1551d4ab40437f2376c8468da4f3bddf77f2ae

) =

​

0x9ce30aa6b3725280688c9cf55251e92bdd642e

​

0x171

Blockchains

49 of 164

hash( +

0x1551d4ab40437f2376c8468da4f3bddf77f2ae

) =

​

0x9ce30aa6b3725280688c9cf55251e92bdd642e

​

0x171

Blockchains

50 of 164

hash( +

0x1551d4ab40437f2376c8468da4f3bddf77f2ae

) =

​

0x9ce30aa6b3725280688c9cf55251e92bdd642e

​

didn’t sign this!

0x171

Blockchains

51 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

52 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

53 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

54 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

55 of 164

0x2a2

0xbc1

0x6e2

0x171

Double Spend Foiled!

Blockchains

56 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

57 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

58 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

59 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

60 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

61 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

62 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

63 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

64 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

65 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

66 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

67 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

68 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

69 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

70 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

71 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

72 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

73 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

74 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

75 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

76 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

77 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

78 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

79 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

80 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

81 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

82 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

83 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

84 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

85 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

86 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

87 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

88 of 164

0x2a2

0xbc1

0x6e2

0x171

Double Spend Foiled!

Blockchains

89 of 164

0x2a2

0xbc1

0x6e2

0x171

Blockchains

90 of 164

Double Spend Attack

91 of 164

Double Spend Attack

92 of 164

Double Spend Attack

93 of 164

Double Spend Attack

94 of 164

Double Spend Attack

95 of 164

Double Spend Attack

96 of 164

Double Spend Attack

97 of 164

Double Spend Attack

98 of 164

Double Spend Attack

99 of 164

Double Spend Attack

100 of 164

Double Spend Attack

101 of 164

Double Spend Attack

102 of 164

Double Spend Attack

103 of 164

Double Spend Attack

104 of 164

Double Spend Attack

105 of 164

Double Spend Attack

106 of 164

Double Spend Attack

107 of 164

Double Spend Attack

108 of 164

Double Spend Attack

109 of 164

Double Spend Attack

110 of 164

Double Spend Attack

111 of 164

Double Spend Attack

112 of 164

Double Spend Attack

113 of 164

Double Spend Attack

114 of 164

Double Spend Attack

115 of 164

Double Spend Attack

116 of 164

Double Spend Attack

117 of 164

Double Spend Attack

118 of 164

Double Spend Attack

119 of 164

Double Spend Attack

120 of 164

Double Spend Attack

121 of 164

Double Spend Attack

122 of 164

Double Spend Attack

123 of 164

Double Spend Attack

124 of 164

Double Spend Attack

125 of 164

Double Spend Attack

126 of 164

Double Spend Attack

127 of 164

Double Spend Attack

128 of 164

Double Spend Attack

129 of 164

Double Spend Attack

130 of 164

Double Spend Attack

131 of 164

Double Spend Attack

132 of 164

Double Spend Attack

133 of 164

Double Spend Attack

134 of 164

Double Spend Attack

135 of 164

Double Spend Attack

136 of 164

Double Spend Attack

137 of 164

Double Spend Attack

138 of 164

Double Spend Attack

139 of 164

Double Spend Attack

140 of 164

Double Spend Attack

141 of 164

Double Spend Attack

142 of 164

Double Spend Attack

143 of 164

Double Spend Attack

144 of 164

Double Spend Attack

145 of 164

Double Spend Attack

8 confirmations!

146 of 164

Double Spend Attack

Chance of catching up:

​

147 of 164

Double Spend Attack

Chance of catching up:

<5%

148 of 164

Double Spend Attack

Chance of catching up:

<5%

Probabilistic

Finality

149 of 164

Double Spend Attack

Yay Chain of Blocks!!!

150 of 164

Double Spend Attack

err...

151 of 164

Double Spend Attack

Yay Chain of Blocks!!!

152 of 164

Double Spend Attack

Yay Chain of Blocks!!!

153 of 164

Double Spend Attack

Yay Chain of Blocks!!!

Yay Blockchain!

154 of 164

Conclusion

155 of 164

Conclusion

156 of 164

Conclusion

157 of 164

Proof of Work!

Conclusion

158 of 164

Conclusion

159 of 164

Conclusion

160 of 164

Conclusion

161 of 164

Conclusion

162 of 164

Incentives for honest behavior!

Conclusion

163 of 164

Incentives for honest behavior!

Penalties for bad behavior!

Conclusion

164 of 164

Conclusion