But how does bitcoin actually work? Cryptocurrency - Part 1 of 2

The video tutorial explains Bitcoin as a digital currency without central authority, introducing the concept of cryptocurrencies. It covers the basics of digital ledgers, digital signatures, and the role of cryptography in ensuring secure transactions. The tutorial further delves into the mechanics of blockchain technology, emphasizing the proof of work system that underpins Bitcoin and other cryptocurrencies. It highlights the decentralized nature of these systems and the computational efforts required to maintain them.

What are the implications of the block reward system in Bitcoin mining?

How does the Bitcoin protocol handle the issue of double spending?

Discuss the challenges faced by Bitcoin in terms of transaction speed and fees.

What are some potential future developments in the cryptocurrency space based on current trends?