Mathematics of bitcoins

Jan Hladký

Institute of Mathematics, Czech Academy of Sciences, andTU Dresden

Supported by the Alexander von Humboldt Foundation.

Bitcoins: summary

I digital payment system and currencyI 2008, Satoshi NakamotoI decentralizedI 1 ≈ 155 000 KčI currently 16 000 000 ≈ 2 480 billion Kč

(ca 200% of the annual state budget of the Czech Republic)I fluktuations: 04/12/2013: 1 ≈ 25 000 Kč,

07/12/2013: 1 ≈ 15 000 KčI advantages: anonymity

out of sight of state authoritiessmall(ish) transaction fees

Transactions

Transactions

Transactions

Digital signature

Digital signature

Digital signature

The ledger

The ledger

I The task of the accountant is to check that each transactionwas used once.

I An accountant (for one task) can be anyone who solves amath puzzle.

I The puzzle is difficult but the solution is simple to check.I Competing accountants review solutions (motivated by

remuneration for accounting).

Sudoku

Sudoku

Poznámky

I obrázky z flickr.com (licence creative commons 2.0).kohout: chris.murphy, Wild chickenpytel brambor: bartb_pt, Potatos

I celá prezentace nahttp://users.math.cas.cz/∼hladky/index_personal.html