Blockchains/Meeting Notes 2017-04-10

Blockchains

Date

Monday, 10 April 2017

Event Announcement

https://www.meetup.com/NetSquared-Kitchener-Waterloo/events/237778947/

Location

Communitech Jelly Bean Room 1st Floor, 151 Charles Street West, Kitchener, Ontario Map

What's a blockchain? Is this all about math? How do I make Bitcoin payments? How can I receive Bitcoin donations on my Website? Are there other blockchain currencies? What services exist for blockchain currency exchange? Is blockchain technology good for more than just Bitcoin? What blockchain tools exist for Non-Profit organizations?

Marc and Bob ask the questions, and special guest Kris Stinson will be on hand to provide the answers!

See you at the meeting!

--Marc and Bob.

• Blockchains/Meeting Notes 2017-04-10

• Today we're joined by guest Kris Stinson (@StinsonKris on Twitter)
• Lots of media attention, "blockchain this, blockchain that", they're trying to sell you a database
  • Microsoft, IBM, governments (even Canada: Cancoin)
• Banks are threatened, unregulated currency (scary!)
• Japan has approved Bitcoin as a currency (legal tender)
• Legal (tax) ramifications: Capital Gains.

Video

• We watch a video with Andreas Antonopolis: Foremost educator on Bitcoin
  • Blockchain for Beginners - YouTube

Types of blockchain currency

• CryptoCurrency Market Capitalizations
• Augur - a "betting" site; deals with contracts
• Based on Ethereum
• DAO - Decentralized Autonomous Organization
  • eg. Ethereum
  • A decision by this DAO split Ethereum into Ethereum and Ethereum Classic
  • Now there are miners working on both branches of the blockchain
  • "The mining network" determines whether a fork of the blockchain can happen

How does the blockchain determine "truth"?

• • The longest chain wins
• "Rolling back the chain"
  • database
  • miners

Quantum computers?

• • Will change the game!

• Winkelvoss brothers
  • Own over 50% of bitcoin?
  • This is a problem, they can determine the validity of transactions

Wallets

• Wallets are Public/Private Key encryption containers

• How to get a Bitcoin Donation buttton on our Non-Profit Organization website?
  • Just need to publish your wallet's Public Key, no "button" required
  • But Shifty Button | ShapeShift | The fastest way to swap cryptocurrencies. No account required
    • This will generate a button for multiple currencies;
    • Just copy 'n' paste your public wallet address

Other blockchain technologies

• • Don't trust The Cloud?
  • Authentication
  • Filesystems

90 minutes was far too short to cover all aspects of Blockchain Technology; we'll invite Kris Stinson back someday.