598 Mp4

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598 mp4

As you have seen in our class, I have been using short video presentations to describe certain computer activities and otherwise show well what is on my screen and to edit and improve the audio narration as well as publish the video to make it accessible on my youtube channel..

As a part of the lessons in this class, and to satisfy the presentation requirements for the class final assignment, you should download the Camtasia software Free Trial to a Windows or Mac machine to which you have access and use it. Here is the link: Once it is downloaded, you have 30 days of full functionality.

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Blockchains are decentralized digital trust engines and are a potential replacement to "digital platforms" that we encounter in today's world. Digital platform companies occupy 7 of the largest companies in the world based on market capitalization (eg: Apple, Google, Microsoft, Amazon, Alibaba, Tencent). Blockchains came into prominence through Bitcoin, a cryptocurrency, introduced in 2009. In the decade since its inception, blockchain designs have evolved significantly, although the corresponding evolution of applications (beyond cryptocurrencies) have not caught up yet. In this course, we study a full-stack design of blockchains: we view the blockchains as a whole integrated system involving networking, incentives, consensus, application layer support. The course is structured into four modules: in the first module (6 lectures) we study the Bitcoin design in detail. Although very secure and remarkably incentive compatible in the real world, Bitcoin has very poor performance in many ways: throughput, latency, energy, compute, storage and communication. In the second module (6 lectures) we study the various efforts to scale the performance of Bitcoin in all the different dimensions, while maintaining the incentive compatibility and security of Bitcoin. In the third module (6 lectures), we go beyond Bitcoin and cover alternate blockchain protocols that offer properties that are simply not present in Bitcoin. These include accountability, resistance to 51% mining attacks, transaction finality, and privacy. In the last module (7 lectures), we cover other topics about blockchain architectures and enconomics, we also do several design case studies on blockchain applications. In the spirit of Nakamoto (who implemented and tested the Bitcoin client before writing the white paper), this course will be implementation-heavy. We will use the Rust programming language for our assignments and projects. By the middle of the course, you will implement a Bitcoin client in Rust and test it out internally. In the final project you will implement features for scaling the Bitcoin client developed earlier. The homework assignments will help you in these implementation efforts by leading you along. Example: the first assignment is on getting you used to Rust and the second assignment lets you build and use basic crypto primitives (hash functions, Merkle trees, signatures) in Rust. In the project at the second part of the course you will select one of the scaling solutions we will discuss and implement on top of your Bitcoin client and verify the resulting improvement.

The basic technical prerequisites are a background in probability and algorithms. Decent amount of software programming background is essential. At Illinois, the prerequisites are met by: Probability (ECE 313), a strong programming course (eg: ECE 390), algorithms (CS 473) and networking (ECE/CS 438)

Blockchains are decentralized digital trust engines and are a potential replacement to "digital platforms" that we encounter in today's world. Digital platform companies occupy 7 of the largest companies in the world based on market capitalization (eg: Apple, Google, Microsoft, Amazon, Alibaba, Tencent). Blockchains came into prominence through Bitcoin, a cryptocurrency, introduced in 2009. In the decade since its inception, blockchain designs have evolved significantly, although the corresponding evolution of applications (beyond cryptocurrencies) have not caught up yet. In this course, we study a full-stack design of blockchains: we view the blockchains as a whole integrated system involving networking, incentives, consensus, application layer support. The course is structured into two parts: in the first part (5 weeks) we study the Bitcoin design in detail. Although very secure and remarkably incentive compatible in the real world, Bitcoin has very poor performance in many ways: throughput, latency, energy, compute, storage and communication. In the second part (8 weeks) we study the various efforts to scale the performance of Bitcoin in all the different dimensions, while maintaining the incentive compatibility and security of Bitcoin. In the spirit of Nakamoto (who implemented and tested the Bitcoin client before writing the white paper), this course will be implementation-heavy. We will use the Rust programming language for our assignments and projects. By the middle of the course, you will implement a Bitcoin client in Rust and test it out internally. In the final project you will implement features for scaling the Bitcoin client developed earlier. The homework assignments will help you in these implementation efforts by leading you along. Example: the first assignment is on getting you used to Rust and the second assignment lets you build and use basic crypto primitives (hash functions, Merkle trees, signatures) in Rust. In the project at the second part of the course you will select one of the scaling solutions we will discuss and implement on top of your Bitcoin client and verify the resulting improvement.

Lecture 1: Introduction: In this introductory lecture, we talk about Blockchains are, how they are a potentially disruptive force in the digital platform economy of today. We also cover some history of Bitcoin (the first blockchain) and set up the outline for a detailed study of Bitcoin in the next 6 lectures. [ Slides ]. [ Notes ]. [ Summary Video ]. Supplementary reading: Module 1 on "History: money, the cypherpunks, and Satoshi Nakamoto" by Haseeb Qureshi.

Lecture 2: Cryptography on a need to know basis: In this lecture, we study basic cryptographic primitives that underpin Bitcoin and all other blockchain designs. There are a few cryptographic techniques that we will look into later in the course, again on-a-need-to-know basis. Cryptography is not a prerequisite to this course, and we will use battle tested crypto libraries in all our implementations. This lecture covers cryptographic hash functions and its use in basic data structures: hash pointers and linked list (creating a block chain) and a hash accumulator known as a Merkle tree (for low complexity membership proofs). We also covers digital signatures and public key cryptography. Public keys serve as identities of users in a blockchain and we see two designs efforts of a cryptocurrency with basic features (ownership of a coin, transferring the ownership, verifying ownership efficiently). The resulting design involves a blockchain data structure to maintain the ledger of transactions, but involves a central authority to sign and order the blocks within a chain. This sets the stage for decentralizing the role of signing and ordering the blocks within a chain, which will be the focus of the next lecture where we study the Nakamoto longest chain rule. [ Slides ]. [ Notes ]. Reading: Chapters 1.1 - 1.5 of PUP book.

Lecture 3: Nakamoto Consensus: Bitcoin's Consensus Algorithm In this lecture we study the longest chain protocol of Nakamoto, and use it to construct the basic consensus mechanism of Bitcoin. We combine this selection rule with the basic cryptographic primitives from the lecture to complete Bitcoin's cryptocurrency design. We look at the role of Proof of Work (PoW) plays in the Bitcoin protocol. It provides resistance to denial of service attacks, spam generation/propagation, acts as a leader election mechanism, and also provides enables incentive mechanism designs. Further more, the computational hardness of the proof of work can be varied over time, all in a distributed manner. In an later lecture we will see formally why the longest chain rule allows consensus among honest parties as long as they control a majority of the mining power. [ Slides ]. [ Notes ]. Reading: Chapter 2 of PUP book. 041b061a72