Bitcoin Q&A: The Value of Proof-of-Work Video

Can a blockchain exist without miners, proof-of-work, or blocks? What are the implications for security, trustlessness, and decentralisation? Not all distributed ledgers are blockchains. What is the influence of alternative energy generation on mining in proof-of-work cryptocurrencies? Should we use alternative algorithms that generate "useful work" in addition to mining cryptocurrencies? The hard promises that Bitcoin provides are valuable and useful in themselves. What is the difference between proof-of-work and proof-of-stake?

Note: These sessions were recorded live using Google Hangouts. The audio and video may be slightly out of sync at some points.

Chapters
0:00 How does a free blockchain work?
1:36 Are blocks really an advantage in the blockchain? Do blocks formed in the blockchain need to exist? If every single transaction was validated by itself, wouldn't that solve the block size problem? Wouldn't it be faster to validate each transaction? Is it possible to create cryptocurrency without blocks?
4:32 Can the cost of energy be minimized by green energy? What if the mining economy throughout the world was mining with green energy?
8:10 I was wondering if there are any workable solutions for diverting that computing power for bonus value creation, tackling other problems that require a lot of computing power
12:21 Can you explain the most important differences between proof-of-work and proof-of-stake?

These questions are from the MOOC sessions 7.2 and 8.2, covering the Byzantine Generals' Problem, which took place on February 26th 2017 and September 15th 2017 respectively. Andreas is a teaching fellow with the University of Nicosia. The first course in their Master of Science in Digital Currency degree, DFIN-511: Introduction to Digital Currencies, is offered for free as an open enrollment MOOC course to anyone interested in learning about the fundamental principles.

If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

RELATED:
Immutability and Proof-of-Work: The Planetary Scale Digital Monument - https://youtu.be/rsLrJp6cLf4
Consensus Algorithms, Blockchain Technology, and Bitcoin - https://youtu.be/fw3WkySh_Ho
Advanced Bitcoin Scripting Part 1: Transactions and Multisig - https://youtu.be/8FeAXjkmDcQ
Advanced Bitcoin Scripting Part 2: SegWit, Consensus, and Trustware - https://youtu.be/pQbeBduVQ4I
What is Consensus: Rules without Rulers - https://youtu.be/2tqo7PX5Pyc
Forkology: A Study of Forks for Newbies - https://youtu.be/rpeceXY1QBM
Bitcoin: Where the Laws of Mathematics Prevail - https://youtu.be/HaJ1hvon0E0
The rules of Bitcoin (part 1) - https://youtu.be/VnQu4uylfOs
The rules of Bitcoin (part 2) - https://youtu.be/vtIp0GP4w1E
Decentralized power, leaderless governance - https://youtu.be/E5VbDlQTPzU
Proof-of-Work (PoW), Proof-of-Stake (PoS), Delegated Proof-of-Stake (DPoS) - https://youtu.be/3W_3AQrQEOM
Does the Lightning Network have proof-of-stake elements? - https://youtu.be/GOYP4O4yetQ
Directed acyclic graphs (DAGs) and IOTA - https://youtu.be/lfgMnbb5JeM
Intrinsic vs. extrinsic assets - https://youtu.be/KDtfFNZy9xg
Scaling, trust, and trade-offs - https://youtu.be/vCxmHwqyJWU
Why running a node is important - https://youtu.be/oX0Yrv-6jVs
Running nodes and payment channels - https://youtu.be/ndcfBfE_yoY
What happens during a fork? - https://youtu.be/XBk8hBJ1xVo
SegWit adoption - https://youtu.be/KCsTVTRk6I4
Energy consumption - https://youtu.be/2T0OUIW89II
Solar energy and mining in space - https://youtu.be/cusakcpa8AM

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

Subscribe to the channel to learn more about Bitcoin & open blockchains!

Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
Join the aantonop Channel: https://aantonop.io/joinaantonopyt

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