Do you REALLY own Bitcoin? – Essential Crypto Mechanics and DeFi for Coding Professionals

This talk serves as an engineering-oriented introduction to important Web3 technologies such as Decentralized Autonomous Organizations (DAOs), blockchains, cryptocurrencies, smart contracts, and virtual machines for Decentralized Finance (DeFi). The primary focus will be on public permissionless blockchains, crypto mechanics, and smart contracts enabled by blockchain-based virtual machines. Consensus algorithms, random number generators, public-key cryptology, and use of cryptographic hash functions will be presented. A Bitcoin v2 deep dive will be presented as well as a description of Ethereum’s recent transition from a “proof-of-work” to a “proof-of-stake” blockchain. The goal of this talk is to provide coding professionals with a deeper understanding of these technologies than that provided by the media’s overly simplistic and often inaccurate blockchain/crypto and DeFi explanations. Speaker(s): Michael, Agenda: This talk serves as an engineering-oriented introduction to important Web3 technologies such as Decentralized Autonomous Organizations (DAOs), blockchains, cryptocurrencies, smart contracts, and virtual machines for Decentralized Finance (DeFi). Regulation and governance challenges resulting from these advances will also be discussed. The dominant focus will be on public permissionless blockchains, crypto mechanics, and smart contracts enabled by blockchain-based virtual machines. Consensus algorithms, random number generators, public-key cryptology, and use of cryptographic hash functions will be presented – as well as a deeper analysis of the “proof-of-work” and “proof-of-stake” consensus techniques employed by most cryptocurrencies. Smart contracts – essential to DeFi – will be illustrated via code. The Environmental, Social, and Governance (ESG) impact of mining/minting crypto will be addressed as well as the implications of crypto creation/destruction policies of dominant cryptocurrencies. Central Bank Digital Currencies (CBDCs) are also discussed. The goal of this talk is to provide coding professionals with a deeper understanding of these technologies than that provided by the media’s overly simplistic and often inaccurate blockchain/crypto and DeFi explanations. Attendees of this talk will understand Bitcoin technology better than those media professionals! Room: L125, Bldg: Lind Hall (NEW LOCATION), University of Minnesota, 207 Church Street SE, Minneapolis, Minnesota, United States, 55455, Virtual: https://events.vtools.ieee.org/m/380973