The Bitcoin Network

An elegant application of operations research

This lecture will cover some of the motivations behind Bitcoin and decentralized networks and the problems Satoshi's design solves including incentive mechanisms with a focus on the Byzantine General's Problem and the proof of work consensus algorithm. We will then discuss technically how to implement Bitcoin's design and analyze how it operates. Q&A will follow and be used to help shape future curriculum.

Suggested Readings

• Bitcoin: A Peer-to-Peer Electronic Cash System
• The Byzantine Generals' Problem
• The Meaning of Decentralization

Optional Readings

• The Design Principle of Hash Function with Merkle-Damgard Construction
• Davies–Meyer Hash Function | SpringerLink
• ECDSA: Elliptic Curve Signatures - Practical Cryptography for Developers (nakov.com)
• Deflation: Making Sure "It" Doesn't Happen Here - Remarks by Governor Ben Bernanke
  

About the Speaker(s)

Michael Abbate '01
Co-Founder & Managing Partner, NovaWulf

Michael Abbate oversees NovaWulf's portfolio construction, technology, risk and trading operations. Prior to founding NovaWulf, Mr. Abbate spent 17 years at King Street Capital Management, in both NY and London, where he was a Partner. He sat on King Street's US Investment, Risk, and Brokerage Committees and was responsible for overseeing US trading operations. Abbate began his career at Morgan Stanley as part of the Global Technology Group, within investment banking, advising technology companies on both corporate finance and M&A. He holds a degree from Dartmouth in computer and engineering sciences with a minor in economics.

Nader Akhnoukh '99
Head of Technology, NovaWulf

Nader Akhnoukh oversees NovaWulf's technology, protocol, and hardware research. Prior to NovaWulf, Mr. Akhnoukh spent 20 years as a software entrepreneur and most recently designed, developed and implemented a decentralized Proof of Personhood Passport, a transportable identity aggregator that can be used throughout Web3. He co-founded and served as the CTO of Onward (assisted transportation service; acquired by Royal Ambulance), Kapost (a system to manage the operations of marketing teams; acquired by Upland Software), and Tamale Software (a research management system for the finance industry; acquired by Advent Software). Akhnoukh received a degree in philosophy and computer science from Dartmouth.

Contact

For more information, contact Holly Buker at holly.a.buker@dartmouth.edu.