Pt 1: 10 Facts to Make You Sound Like You Know About Blockchain

There are a lot of people out there who are what we call Bit-curious...they like the sound of bitcoin and blockchain, heck they are probably following the news everyday but they're not too sure about the technical details. 

 

If you're one of those people then rather than sit nodding along to the technical chat, why not pop along to one of our Bitcoin, Blockchain and Beyond courses? They're for people who are interested in bitcoin and blockchain but have no technical background and just want to start with the foundations and to understand the ecosystem. 

We're running a special-edition course (which is CPD-Accredited, by the way) during London Tech Week. But if you can't make that one, then don't worry we've got more coming up. Learn about blockchain here

In the meantime, check out our top 10 facts to help you talk about bitcoin, blockchain and beyond! Look out for part 2 when we explain them, a little more!

 

1. Blockchain assets are not stored in your digital wallet

2. Blockchain may enable trust between participants who may not trust each other thanks to network consensus

3. The three most common consensus mechanism are: proof of work, proof of stake, practical byzantine fault tolerant (PBFT)

4. A blockchain is weakest when it first come online

5. Proof of work Blockchains are vulnerable to 51% attacks

6. Proof of stake Blockchains are vulnerable to "nothing at stake" attacks

7. PBFT Blockchains are vulnerable to "cartel attacks"

8. The only blockchain that has been tried and tested thoroughly is Bitcoin’s

9. Smart Contracts are not really smart and neither are they contracts

10. A DAO is a collection of smart contracts working with each others

Want to be able to know even more cool blockchain stuff? Check-out our Bitcoin, Blockchain and Beyond.