{"id":90,"date":"2022-10-22T23:31:19","date_gmt":"2022-10-23T06:31:19","guid":{"rendered":"https:\/\/onlineacademiccommunity.uvic.ca\/bitcoin\/?page_id=90"},"modified":"2022-11-07T23:53:49","modified_gmt":"2022-11-08T07:53:49","slug":"how-does-bitcoin-work","status":"publish","type":"page","link":"https:\/\/onlineacademiccommunity.uvic.ca\/bitcoin\/how-does-bitcoin-work\/","title":{"rendered":"04. How Does Bitcoin Work?"},"content":{"rendered":"<p>Here are some fantastic videos to learn how Bitcoin actually works. These videos explain how computation, cryptography and blockchain are used in the Bitcoin network. The combination of these technologies have been protecting Bitcoin from hackers and maintaining its integrity for the last fourteen years.<\/p>\n<p><strong>CuriousInventor. (July, 2013). <em>How Bitcoin Works Under the Hood.<\/em> [22:25]<br \/>\n<\/strong>Back in 2013, <a href=\"https:\/\/www.statista.com\/statistics\/647523\/worldwide-bitcoin-blockchain-size\/\">Bitcoin blockchain size<\/a> was about 10 GB. Now in 2022, it has grown to over 400 GB.<\/p>\n<p><iframe loading=\"lazy\" title=\"How Bitcoin Works Under the Hood\" width=\"840\" height=\"473\" src=\"https:\/\/www.youtube.com\/embed\/Lx9zgZCMqXE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p><strong>3Blue1Brown. (July, 2017). <em>But how does bitcoin actually work? <\/em>[25:15]<\/strong><\/p>\n<p><iframe loading=\"lazy\" title=\"But how does bitcoin actually work?\" width=\"840\" height=\"473\" src=\"https:\/\/www.youtube.com\/embed\/bBC-nXj3Ng4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p><strong>99Bitcoins. (July, 2016). <em>What is Bitcoin Mining? (In Plain English).<\/em>\u00a0 [<span class=\"ytp-time-duration\">16:00]<br \/>\n<\/span><\/strong><span class=\"ytp-time-duration\">Mining technologies and machines have been advanced a lot in the past years. Please do your own research if you are interested in Bitcoin mining. Ethereum has been switched from Proof of Work to Proof of Stake (called Merge) in September, 2022, so you cannot mine it any more.\u00a0<\/span><strong><span class=\"ytp-time-duration\"><br \/>\n<\/span><\/strong><\/p>\n<p><iframe loading=\"lazy\" title=\"What is Bitcoin Mining? (In Plain English)\" width=\"840\" height=\"473\" src=\"https:\/\/www.youtube.com\/embed\/BODyqM-V71E?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p><strong>Bitcoin = Money + Time + Energy + Information by <a href=\"https:\/\/twitter.com\/dergigi\">@dergigi<\/a> (August, 2022) [25:23]<br \/>\n<\/strong>The original website: <a href=\"https:\/\/dergigi.com\/pow\/\">https:\/\/dergigi.com\/pow\/<\/a> *&#8221;shitcoin&#8221; means altcoins or all other cryptocurrencies.<\/p>\n<p><iframe loading=\"lazy\" title=\"Bitcoin = Money + Time + Energy + Information by @dergigi\" width=\"840\" height=\"473\" src=\"https:\/\/www.youtube.com\/embed\/DLsIcIoLSsI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here are some fantastic videos to learn how Bitcoin actually works. These videos explain how computation, cryptography and blockchain are used in the Bitcoin network. The combination of these technologies &hellip; <a href=\"https:\/\/onlineacademiccommunity.uvic.ca\/bitcoin\/how-does-bitcoin-work\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;04. How Does Bitcoin Work?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":9324,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-90","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/onlineacademiccommunity.uvic.ca\/bitcoin\/wp-json\/wp\/v2\/pages\/90","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/onlineacademiccommunity.uvic.ca\/bitcoin\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/onlineacademiccommunity.uvic.ca\/bitcoin\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/onlineacademiccommunity.uvic.ca\/bitcoin\/wp-json\/wp\/v2\/users\/9324"}],"replies":[{"embeddable":true,"href":"https:\/\/onlineacademiccommunity.uvic.ca\/bitcoin\/wp-json\/wp\/v2\/comments?post=90"}],"version-history":[{"count":21,"href":"https:\/\/onlineacademiccommunity.uvic.ca\/bitcoin\/wp-json\/wp\/v2\/pages\/90\/revisions"}],"predecessor-version":[{"id":544,"href":"https:\/\/onlineacademiccommunity.uvic.ca\/bitcoin\/wp-json\/wp\/v2\/pages\/90\/revisions\/544"}],"wp:attachment":[{"href":"https:\/\/onlineacademiccommunity.uvic.ca\/bitcoin\/wp-json\/wp\/v2\/media?parent=90"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}