4Blockchain and Money - Blockchain Basics & Consensus
0 view 0 purchase
Course
Economic
Institution
This course is for students wishing to explore blockchain technology’s potential use—by entrepreneurs and incumbents—to change the world of money and finance. The course begins with a review of Bitcoin and an understanding of the commercial, technical, and public policy fundamentals of blockc...
,Class 4 (9/18): Study Questions
• What is the Byzantine Generals problem? How does proof-of-work and
mining in Bitcoin address it? More generally how does blockchain
technology address it?
• What other consensus protocols are there? What are some of the
tradeoffs of alternative consensus algorithms – proof-of-work, proof-of-
stake, etc.?
• How do economic incentives work within blockchain technology to
maintain decentralized ledgers and avoid double spending? What are th
incentives of consensus protocols and mining? (Moved from 9/20)
2
,Class 4 (9/18): Readings
• ‘Geneva Report’ Chapter 1 (pages 1 – 7); Casey, Crane, Gensler, Johnson, and Na
• Consensus through Proof of Work
• Bitcoin Mining
• Native Currency
• Network
• Other Consensus Protocols
• Conclusions
4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller tandhiwahyono. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.60. You're not tied to anything after your purchase.