Bitcoin Q&A: Nonces, mining, and quantum computing

Bitcoin Q&A: Nonces, mining, and quantum computing



Who generates the nonce? What makes it random? How is nonce-guessing important to the competitive process of mining? What happens if the hashing algorithm (SHA-256) was compromised? Is quantum computing a threat?

More on nonces and the mining process: https://github.com/bitcoinbook/bitcoinbook/blob/8ae3c056fb257111bda8883d9d204e8476f9870c/ch09.asciidoc

These questions are from the MOOC 7.2 and 9.2, which took place on February 26th 2017 and February 23rd 2018 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:
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
Software distribution security – https://youtu.be/_V0vqy046YM
What is mining? – https://youtu.be/t4p4iMqmxbQ
The mining process – https://youtu.be/L4Xtau0YMJw
Miners, pools, and consensus – https://youtu.be/JHz7LM4ncLw
Cryptographic primitives – https://youtu.be/RIckQ6RBt5E
The rules of Bitcoin (part 1) – https://youtu.be/VnQu4uylfOs
The rules of Bitcoin (part 2) – https://youtu.be/vtIp0GP4w1E
Rules versus rulers – https://youtu.be/9EEluhC9SxE
The value of proof-of-work – https://youtu.be/ZDGliHwstM8
Migrating to post-quantum cryptography – https://youtu.be/dkXKpMku5QY
Could a state-sponsored 51% attack work? – https://youtu.be/KUd8ZGgm6Qo
Honest nodes and consensus – https://youtu.be/KAhY2ymI-tg
Spam transactions and Child Pays For Parent (CPFP) – https://youtu.be/t3c0E4fkSNs
Is Bitcoin a democracy? – https://youtu.be/TC3Hq76UT5g
Decentralized power, leaderless governance – https://youtu.be/E5VbDlQTPzU
Scaling, trust, and trade-offs – https://youtu.be/vCxmHwqyJWU
What is the role of nodes? – https://youtu.be/fNk7nYxTOyQ
Why running a node is important – https://youtu.be/oX0Yrv-6jVs
Lightning, full nodes, and miners – https://youtu.be/dlJG4OHdJzs
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
Spam transactions and Child Pays For Parent (CPFP) – https://youtu.be/t3c0E4fkSNs
Energy consumption – https://youtu.be/2T0OUIW89II
Solar energy and mining in space – https://youtu.be/cusakcpa8AM
Bitmain and ASICBoost allegations – https://youtu.be/t6jJDD2Aj8k

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: β€œMastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; β€œThe 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/)