Blockchain
summary
Blockchain is an append-only transaction log that uses Merkle-tree inclusion proofs to make altering history computationally infeasible, and it supports two consensus models: Nakamoto: <50% of total compute (proof-of-work) and BFT: <1/3 faulty nodes. Practical proposals include deterministic key derivation for selective regulator read access, zero-knowledge proofs for privacy, payment/net channels to avoid constant global consensus, and validation rules that can span transactions, blocks and external oracles. Work focuses on using these primitives for financial settlement systems and shared ledgers; prototypes and integrations with Hyperledger ideas are underway.
AI-written summary · about
chapters (12)
- 0:00Intro
- 0:51Blockchain
- 1:32Database Structure
- 2:18Blockchain Structure
- 3:27Compact Proof
- 7:40Practical Solution
- 8:16Zero Knowledge
- 9:38deterministic key generation
- 11:44netting channels
- 12:37validation rules
- 14:13inventions
- 15:06settlement
related talks
02h 44mBlockchain consensus mechanisms
42mBeyond Blockchain: Convergent Consensus
24mState of Blockchain
47mCant we just agree
33mByzantine generals: How the blockchain solves the distributed consensus...
01h 02mBlockchain is Cyberpunk
54mDistributed Trust: Is “Blockchain” the answer?
29mBitcoin, Blockchain - What's the Buzz?