Cryptocurrency - Bitcoin- Is it ready for Prime Time?
Cryptocurrency is a prominent topic these days, especially Bitcoin which has reached a value of $100,000. This talk uses sources such as the original white paper, IEEE Spectrum and Computer Society's Computing Edge to explain how the currency system works.
BitCoin was proposed in 2008 and (based on a white paper), launched in 2009. It was worthless initially, but is now priced at $100,000 per coin. It can be incremented into 1/100,000,000 parts, each called a “Satoshi”. The white paper proposes that security is ultimately achieved by the hosting agency having a more powerful and faster computer than anyone else. However, other security measures are a cryptographic system that would be difficult to overcome, and personnel who check each transaction for legitimacy. In spite of the seemingly impossible task of “hacking” the system, accounts have been stolen or lost several times. The purpose of this talk is not to advocate use of this system of commerce, but to recognize that at some point the US Government will be involved. This should eventually lead to a secure system for commerce. Some interesting features of the technology include the analogy of mining for gold, and the increasing difficulty of “finding” coins.
Similar "coins" will also be discussed.
Date and Time
Location
Hosts
Registration
- Date: 06 Jan 2025
- Time: 07:00 PM to 08:30 PM
- All times are (UTC-05:00) Eastern Time (US & Canada)
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- Starts 21 December 2024 12:00 AM
- Ends 06 January 2025 12:00 AM
- All times are (UTC-05:00) Eastern Time (US & Canada)
- No Admission Charge
Speakers
Doug
Cryptocurrency
Cryptocurrency is a prominent topic these days, especially Bitcoin which has reached a value of $100,000. This talk uses sources such as the original white paper, IEEE Spectrum and Computer Society's Computing Edge to explain how the currency system works.
Biography:
Talk to be given by Douglas Tipton, , recently appointed chair of the Computer Chapter of Delaware Bay Section. Douglas earned BSME, MSEE, and PhD EE degrees from Vanderbilt University in 1967. He served in the US Army Ordinance Corps at Ft. Monmouth, NJ for two years the Surveillance Lab . He was then employed by DuPont at their Experimental Station to apply technology to industrial problems. He served as chair for the Delaware Bay Section for about 10 years.
Email:
Address:Wilmington, Delaware, United States, 19808
Cryptocurrency - Bitcoin- Is it ready for Prime Time?