In a nutshell: MultiChain (Epicenter Bitcoin interview – Nov 2015)

In a nutshell: MultiChain (Epicenter Bitcoin interview – Nov 2015)

I enjoyed listening to episode 107 of the podcast “Epicenter Bitcoin” where Gideon Greenspan, CEO and Founder of Coin Sciences was interviewed about MultiChain. Gideon also writes a great blog. Here are my notes on parts of the podcast that I found particularly interesting. Misunderstandings and paraphrasing errors are mine.

Note: The term ‘miner’ is used frequently in the podcast but I try to refer to them here as block-makers or block-adders.

This gets fairly technical; if this is hard to follow, it may be helpful to read my introductions to blockchains, bitcoin, digital tokens, and smart contracts first.

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A gentle introduction to bitcoin mining

A gentle introduction to bitcoin mining

Recently over dinner, I was asked to explain bitcoin mining, and I struggled as it is entangled with a number of other concepts.  Here’s my attempt at breaking it down into bite-sized pieces.

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Inside Bitcoin’s blockchain

I’m often asked what’s in a blockchain, so I put this infographic together as an aide memoire using bitcoin’s blockchain as the example.

Although other blockchains will have differences, the overall structures should be similar.

bitcoin_blockchain_infographicInfographic designed by fractalphia.com

This is also available in French produced by BitConseil.

Print a poster

Click here for a higher resolution version that is a great size and shape to print out on A3 and stick on your wall as a quick reference!

A gentle introduction to bitcoin

This article is a gentle introduction to bitcoin and assumes minimal technical knowledge.

Shorter companion pieces to this are:

In the popular media, you will often read comments like “Bitcoins are stored in a digital wallet”, or “You can send money using blockchain technology”.  These comments can be misleading and can confuse.  By the end of this you should understand enough to participate in a dinnertime conversation about bitcoin, and not be mystified by the topic.

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