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How the Bitcoin protocol actually works

Bitcoin Reddit

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The post is from 2013 but the major principles are intact, if you find mistakes let me know below.

"The aim in this post is to explain the major ideas behind the Bitcoin protocol in a clear, easily comprehensible way. We’ll start from first principles, build up to a broad theoretical understanding of how the protocol works, and then dig down into the nitty-gritty, examining the raw data in a Bitcoin transaction.

To understand the post, you need to be comfortable with public key cryptography, and with the closely related idea of digital signatures. I’ll also assume you’re familiar with cryptographic hashing. None of this is especially difficult. The basic ideas can be taught in freshman university mathematics or computer science classes. The ideas are beautiful, so if you’re not familiar with them, I recommend taking a few hours to get familiar. "

Source:

https://michaelnielsen.org/ddi/how-the-bitcoin-protocol-actually-works/

https://www.youtube.com/watch?v=K_euhRou98Y

submitted by /u/cascading_disruption
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