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Blockchain - Uri Klarman (Stages (Outcome (Fork (When 2 blocks moved at…
Blockchain - Uri Klarman
Stages
Miners
Mining steps
Block
Nonce
Try different until value
Propagate to P2P
Outcome
Entire history is a blockchain
Longest blockchain is true
Attackers must revalidate consecutive blocks
Faster than everyone else combine
Data is immutable
Fork
When 2 blocks moved at the same time
Useful
Yes if
Interaction without trusted
Immutable data without trust
Visibility
Not if you trust
Banks
Servers
Problems
Scalability
Credit cards 5000/s
Vending machines 1000/s
Tonight chains 50000/s
Global micro payments 70000/s
Social media 200000/s
Small capacity
Increase block size N times?
At least N times longer
Block propagation via networks
Reduce timeframe
Censorship
Discrimination
Ban wallets
Requires everyone trust