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Lecture 2 — How Bitcoin Achieves Decentralization

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Second lecture of the Bitcoin and cryptocurrency technologies online course. Course website: https://piazza.com/princeton/spring2015/btctech/home

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In this lecture (click the time to jump to the section):
* Centralization vs. decentralization 1:12
* Distributed consensus 4:45
* Consensus without identity: the block chain 17:46
* Incentives and proof of work 35:43
* Putting it all together 55:39