Explore the potential of blockchain technology beyond cryptocurrency in this 33-minute Stanford University lecture. Delve into the fundamentals of blockchain and its applications in real-world scenarios, starting with an examination of internet payments and their suitability for blockchain implementation. Gain insights into the unique advantages offered by blockchain systems, including the ability to handle multiple tokens and the concept of blockchain forks. Analyze the challenges faced by digital asset issuers, particularly in relation to mining and fork protection. Discover the Stellar blockchain platform, which allows multiple issuers to operate on a single ledger using counterparty-based consensus. Examine the Internet hypothesis and its relevance to blockchain technology. Learn about Federated Byzantine Agreement (FBA) and its role in achieving consensus among closed groups. Investigate the Stellar Consensus Protocol (SCP) and its high-level implementation within the Stellar Network. Compare and contrast this approach with other blockchain solutions to gain a comprehensive understanding of the technology's potential in various industries and applications.
Overview
Syllabus
Introduction.
Internet payments.
Is this a job for blockchain?.
What blockchain really gives us.
Multiple tokens on a blockchain.
Blockchain forks.
Mining is scary for digital asset issuers.
Must protect asset issuers from forks.
Stellar: many issuers, one ledger.
Counterparty-based consensus.
The Internet hypothesis.
Federated Byzantine Agreement (FBA) Based on Byzantine agreement-consensus among closed group.
Tiered quorum slice example.
The Stellar Consensus Protocol [SCP].
SCP: High-level view.
The Stellar Network.
Comparison to other approaches.
Taught by
Stanford Online
