Algebraic Theory Behind Bitcoin’s Blockchain

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Algebraic Theory Behind Bitcoin’s Blockchain

Alberto Ruiz, Dylan Cruz
Monday, June 04, 2018: 10 a.m.; Room A277 (Faculty of Natural Sciences)

Abstract

In order for successful decentralization of a cryptocurrency we need a way to secure a public record of transactions between users, called a \textit{blockchain}. We present the benefits of keeping a blockchain and discuss the encryption methods to keep it secure. This includes, the hashing methods, the algebraic theory behind the encryption and the networking details behind it. After a careful study of the material the reader should have a high level understanding of how various blockchain components fit together and gain a deeper grasp of the algebraic theory behind the implementation.

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