Bitcoin Protocol Explained – Timestamp Server / Global Ledger

Bitcoin Protocol Paper Playlist: http://www.youtube.com/watch?v=UieiMU-ImvI&list=PLQVvvaa0QuDcq2QME4pfeh0cE71mkb_qz&feature=share

All Bitcoin Videos Playlist: http://www.youtube.com/watch?v=UieiMU-ImvI&feature=share&list=PLQVvvaa0QuDebbCxrDPCux6SzC1RET4mF

In this short video, the Bitcoin timestamp server / global ledger is discussed. As usual, however, we present ourselves with an ending challenge which is to be covered in the, you guessed it, next video!

The idea of the global ledger / timestamp server is so that everyone can share a log of all transactions that have occurred, and so that every node (computer) is aware of the the status of the network.

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