Bitcoin Transactions with Daniel Van Flymen

Bitcoin is an immutable, append-only blockchain ledger that reaches consensus through proof-of-work. The contents of the ledger are financial transactions–people sending and receiving Bitcoin currency to each other.

Since Bitcoin, there have been other cryptocurrencies that have similar properties–like Ethereum and the IPFS/Filecoin system. Similar to Bitcoin, they use a decentralized, proof of work based system with a currency reward system–but the ledger being maintained is not purely financial. A currency is a necessary component to maintaining the blockchain’s validity.

Over the next month, we will be exploring a variety of blockchain-based technologies. Some interviews will be high-level conversations that assume only a familiarity with cryptocurrencies. Some of them will be deeply technical, and assume a strong understanding of Bitcoin and Ethereum. And some episodes, like today’s episode, will be aimed at the developer who is in the process of “going down the rabbit hole.”

If you are finding yourself reading about Bitcoin and Ethereum a few hours every day, but you are still struggling to grasp the basics, this episode is for you. It is meant to be a complement to other introductory resources, such as “Mastering Bitcoin,” by Andreas Antonopoulos.

Cryptocurrency systems are revolutionary–they will unlock completely new applications in the very near future. It’s If you are trying to understand these decentralized currencies and applications, the best place to start is with Bitcoin. That’s why I was happy to have Daniel Van Flymen back on the show.

Daniel was previously on for one of our most popular episodes–”Blockchain Building,” in which he talked about how useful it can be to build a blockchain based system for practice. Today, Daniel discusses the basics of Bitcoin transactions. What happens when you send money? How are transactions represented on the blockchain? How do full nodes and light clients interact with each other?

These are difficult topics to discuss purely over audio, so this episode is best listened to as a companion resource for someone who is studying cryptocurrencies.

If you are looking for an internship, apply to the Software Engineering Daily internship, at softwaredaily.com/jobs. And if you are looking to recruit engineers, you can post jobs for your company there as well–it’s completely free to post jobs and to apply. We are hoping to find interns to contribute to the Software Daily open source project–and if you want to see what we are building, go to SoftwareDaily.com or check out our apps in the  iOS or Android app store. They have all 650 of our episodes, with recommendations, related links, discussions and more.

Transcript

Transcript provided by We Edit Podcasts. Software Engineering Daily listeners can go to weeditpodcasts.com/sed to get 20% off the first two months of audio editing and transcription services. Thanks to We Edit Podcasts for partnering with SE Daily. Please click here to view this show’s transcript.

Sponsors


LiveRamp is one of the fastest growing companies in data connectivity in the Bay Area, and they are looking for senior level talent to join their team. LiveRamp helps the world’s largest brands activate their data to improve customer interactions on any channel or device. The infrastructure is at a tremendous scale: a 500-billion node identity graph generated from over a thousand data sources, running an 85PB hadoop cluster; and application servers that process over 20 billion HTTP requests per day. The LiveRamp team thrives on mind-bending technical challenges. LiveRamp members value entrepreneurship, humility, and constant personal growth. If this sounds like a fit for you, check out softwareengineeringdaily.com/liveramp.



Built by engineers for engineers, Datadog is a platform that’s specifically designed to provide full stack observability for modern applications. Datadog helps dev and ops teams easily across all their servers, containers, apps and services to monitor performance and make data-driven decisions. Datadog integrates seamlessly to gather metrics and events for more than 200 technologies, including AWS, Chef, Docker and Redis. With built-in dashboards, algorithmic alerts and end-to-end request tracing, Datadog helps teams monitor every layer of their stack in one place. Don’t take our word for it. Start a free trial today and Datadog will send you a free t-shirt. Visit softwareengineeringdaily.com/datadog to get started.


Do you think blockchain technology is only used for cryptocurrency? Think again. ConsenSys develops tools and infrastructure to enable a decentralized future built on Ethereum, the most advanced blockchain development platform. ConsenSys has hundreds of web3 developers that are building decentralized applications, focusing on world-changing ideas like creating a system for self-sovereign identity, managing supply chains, developing a more efficient electricity provider and much more. Listeners, why continue to build the internet of today when you can build the internet of the future on the blockchain? ConsenSys is actively hiring talented software developers to help build the decentralized web. Learn more about Consensys projects and open source jobs at consensys.net/sedaily.


Your enterprise produces lots of data, but you aren’t capturing as much as you would like. You aren’t storing it in the right place, and you don’t have the proper tools to run complex queries against your data. MapR is a converged data platform that runs across any cloud. MapR provides storage, analytics, and machine learning engines. Use the MapR operational database and event streams to capture your data. Use the MapR analytics and machine learning engines to analyze your data, in batch or interactively–across any cloud, on premise, or at the edge. MapR’s technology is trusted by major industries like Audi, which uses MapR for its connected vehicles. MapR also powers Aadhar, the world’s largest biometric system. To learn more about how MapR can solve problems for your enterprise, go to softwareengineeringdaily.com/mapr to find whitepapers, videos, and ebooks. Whether you are an oil company like Anadarko, a major FinTech provider like Kabbage, or a business in any other vertical, MapR can leverage the high volumes of data produced within your company. Go to softwareengineeringdaily.com/mapr and find out how MapR can help your business take full advantage of its data.