3. Blockchain Basics & Cryptography
Вставка
- Опубліковано 22 січ 2020
- MIT 15.S12 Blockchain and Money, Fall 2018
Instructor: Prof. Gary Gensler
View the complete course: ocw.mit.edu/15-S12F18
UA-cam Playlist: • MIT 15.S12 Blockchain ...
In this lecture, Prof. Gensler, explains the basics of blockchain and covers Bitcoin design features, hash functions, blocker headers, Merkle trees, among other related topics.
License: Creative Commons BY-NC-SA
More information at ocw.mit.edu/terms
More courses at ocw.mit.edu
Congrats to everyone who's made it this far! It's interesting how the view count dips so fast the further into the series you get! If you consider the number of people that then do the corresponding readings, I'm sure it's even lower. Still, the knowledge is there for those of us willing to put in the time and effort! Blessings to all!
Incredible opportunity and it sure is fascinating to watch that ledger! Readings are great. Are you doing assignments too?
Congratulations to you too. Its downhill from this point onwards as you pointed out. But the topic and the way he's explaining this, I am certain I'll get through all 23 of them, coming out as someone with probably a very different perspective than whatever I might have now on blockchain and cryptocurrencies.
I think the count dips in every successful series, because he interrupts the flow of the lecture by encouraging student participation every other minute and that is very annoying to the internet viewer.
I've been working on this course sporadically for a year, so I know what you're saying. Sometimes it's difficult with other obligations. hold fast everyone.
Where do you see the readings? I only see the book recommendations on the course site. Thank you.
blew my mind, MY GOODNESSS, never have i ever had such a good lectures, i'm here binge watching blockchain lectures, never thought learning could this much fun and easy.
OMG doing the same.....just started watching this one!!
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@@deborahbonner9271 a(€] €e@aa@
This lecturer is now the chairman of the SEC. I think it is a great appointment and it will give confidence to the markets for investment in the blockchain industry
CONFIRMED
BTC ETF approval looks good!
Watch him endorse true bitcoin, which isn’t btc btw.
Damn future is looking bright
I hate when people can’t see blockchains the future🤯
This guy understands this stuff so well that he is able to break it down and make it easy to understand. He is astoundingly intelligent.
AND He's the new chairman of SEC!! thanks to biden. He's gonna bring balance to tha crypto markets!!!
@@xrpkidotec520 thanks for that info. Was wondering about that.
I was just going to write the same thing! He’s really gifted. This is so interesting!
Totally agree! Let’s hope he does a good job.
I completely agree. I believe he is going to pave the way for mass adoption.
thank you MIT and Prof Gensler for this free lecture series! didnt think think I'd rather watch a college lecture than Netflix but now I know I do.
haha totally agree, better than Netflix series
It is a privilege to be able to listen to Gary Gensler for free like this. Don't forget that these.lectures were presented before he was chosen to head the SEC.
Positive feedback to MIT open courses as a whole & Gary Gensler's class in particular.
Thank you MIT for making this and your previous technical courses available. While I am typically a passive listener of educational content, professor Gensler and the student engagement in this course is really terrific. I feel obligated to provide the following feedback.
For what is worth, here's my critique of the course so far. The first two classes had great tidbits about the history of money and finance...but I really enjoyed watching this 3rd lecture tackle the abstract concept of how (cryptography) algorithms could provide technical safeguards in the potential presence of an adversarial actor. Felt like the Prof was still looking for a more perfect/tangible analogy of a HASH value.
Also (as with the previous lectures) I enjoyed the technical tidbits about how big a blockchain header is relative to the size of the blockchain. This lecture seemed to demonstrate the caliber of students at MIT in addition to the impressive professors.
I am from Jamaica, can believe I am listening to a semester of lecture from MIT... Bless be God.. Thanks MIT
I never thought I would ever be watching an MIT lecture and basically already understand all of it.
Just goes to show how much of learning and advancing oneself is really just about showing up and committing. Good on you! It’s a nice feeling!
I’m astonished by the quality of this lectures and it’s free! Thank you so much I really appreciate this MIT
These slides are exceptionally good. Great learning curve and the professor makes learning blockchain very exciting. I would highly recommend anyone who wants to do anything with crypto to watch this course.
This is the best way I have found to learn about this new tech. Doing the readings, the assigments and everything and the questions from the people there are really good too. Thanks for sharing it MIT.
this lecture had been told to me to learn by my university as blockchain is my self paced course .It was really good lecture even though i was lacking on so many points in lecture i found it very interesting to eatch and not drop on some point i dont get.so i think he is one of the best teachers i had ever been taught ..hats off sir
Gary Gensler earned a whole new level of respect from me , this damn guy is a genuis
Its crazy how whenever I watch crypto vids I get funneled back to this playlist .I mean it makes since now that the guy is the head of the SEC I guess.Good job algorithm!
A PRAISE FROM A 20 YEAR OLD BLOCKCHAIN LOVER (YES ME💓😃) :- Dear professor gensler , your COMPUTATIONAL power is really great. You are a genius, we love how you are defining this brutal technology in an interactive and fun way, I swear I'll attend all the classes and I'm also preparing notes and trying to do the homework you offer. THIS CONTENT WORTH MILLIONS OF DOLLARS. GREAT . WE ALL ASPIRANTS ARE BLESSED
Idk it's nice to know that knowledge is free. And that the majority of people watching this have probably understood the ins, outs and the importance of btc and how money and society work in relation for a while. Any ways thank you MIT for the lectures!
This isn’t knowledge, this is a con artists interpretation of “crYptO”
@@bits_for_bytes The concept of decentralization is what is truly at the heart of the advent of blockchain technology. It is much more than only crypto currency. It levels the playing field and pulls the rug out from profiteers, i. e. bankers for one, whom thrive from a privileged position of the middleman enabling one and all to equally participate whether rich or poor.
I am on the 3rd , lecture ... its great learning ...thanks MIT
and yt. MIT is the content, UA-cam the platform. and you a consumer, a byproduct. lol
Thank you very very much for this series, I’m learning a lot. Those who want to dig deeper on RSA, hash functions, elliptic curve cryptography, and random-number generation can probably benefit from a specialized book on the subject.
This really is incredible, never thought I'd be so intrigued learning about block chain!
Que gran curso! Me encanta, motiva y aprendo un montón, la calidad de la información y como esta organizada es perfecta. Saludos desde Argentina 🇦🇷
Truly a hidden gem of UA-cam, thank you for the amazing content 👏👏
i feel much more motivated to dig deeper into blockchain after watching this lecture. best speaker for blockchain that i have encountered
The information I learned from these 3 classes are very informative and fascinating. I appreciate everyone who made this far.
Thank you MIT for these amazing classes! 💐❤️
Investing in bitcoin now is the best 💯✔️
You are ALL pitiful. Not a single critical comment, not ONE.
Wanna buy a bridge?
@@kennethkeen1234 Why be so negative?
What a strategy!...and now, Gary's the US-SEC Chairman!
I watched this Video last year, and i was really proud too see that he ist being honored
This is so interesting series of videos, that when I watching it during Im making my stocks analysis and is time to relax and play Diablo III I have a big problem to switch this video off and play game. Proffesor Gensler, you are great, and also the audience!
I make all the people that work in my office watch this MIT blockchain course. Then I give them a test. It helps to make sure when we have tech support problems I know all my people can at least think problems out in a group
Not a fan of cronies, but it is amazing that this guy is still learning complex new stuff in his 60s, most people in their late 20s give up on learning new stuff.
It took me 4 hours to get through this. Thanks for the free content
It’s an hour and fifteen minute lecture...
@@imatardable - notes and memory
1.5x speed boi
@@imatardable Not if you are having to absorb/learn new material, obviously.
Captain rewind
Leaving my mark here at this mile marker. Thanks MIT and Professor Gensler. Peers, If you’ve made it this far, keep going!
Thank you MIT & prof. Gary Gensler.
all this for free. lord what at time to be alive. just wished this series was recommended to me when it came out! but nonetheless very thankful
Thank you I really appreciate the content. I am from Africa and to get this for free is heart warming.
What a amazing method of teaching - No brainer why he is the SEC chairman
this is a wild video, like outside of the informative nature of it. seeing Gensler talking about needlessly printing money a whole year before the pandemic, and noting one of the creators of Algorand over 6 months before it launched. shows have far we have come in only 3 years
This class is so entertaining I’m awestruck
Cryptographic hashing is not only a way to take a lot of information and put it in fixed form, but
The key thing is the hash functions tie the blocks together cause hash functions can point to previous info 1:13:11
What a great academic, so lucid presentation!
I’m going to MIT for FREE! This is Awesome!❤️❤️❤️❤️❤️
these classes are amazing. thank you for posting them!
Last September 2020 I bought 3 bitcoin at $9,000 when my friends told me I'm stupid for buying so high. Best decision ever.. 😂😂😂
And continue to HODL through-out the volatility. This is normal and what gives you exponential gains.
Are you still holding it after bitcoin fell down from 65k to 30k last week?
@@TheBitcoinRevolution Hahaah margincalled... :P
@@predatel_rodini pppppp
@@predatel_rodini ofc. Why should trade the best asset in the world vs crap paper money.
thank you MIT for sharing this amazing course for free!
I love these videos. Thank You MIT
Thanks MIT for sharing knowledge with the world!
A nonce isn't a random number that is used once, it's just a number that is used once. In fact with EVM based chains the nonces of your transactions have to be in exact numerical order with no gaps or your transaction will never confirm. I you successfully send a transaction with nonce 1 and then try to send another with nonce 3 the second transaction will not be considered for confirmation until a transaction with nonce 2 is submitted.
that base 2 to base 10 conversion trick/estimation at 35:55 was pretty genius and smart btw...for anyone who didnt catch that. shows hes pretty quick on his feet and knows quite a few math tricks
Gem of a course. Good stuff prof..
Congratulations on your new position Mr Gensler
Head of SEC?
He is fake.
@@kennethkeen1234 who?
Absolutely well done and definitely keep it up!!! 👍👍👍👍👍
This is a very helpful and clear class. Thanks.
Awesome show !
That one was a brain buster for me. I fully understood about 60-65% of it at depth, and its ok.
Wow, this lecture series is amazing, thank you.
how does Gary retain all this knowledge ? unbelievable
Excellent and easy to grasp concepts. Need one update maybe, at 1:00:20 Bitcoin will use soon Schnorr signature instead of elliptic curve signatures
Blockchain is the evolution not only of economy but also for social life and sciences
1 of biggest fans
Get educated.
I’ve just spent an hour down the rabbit hole of blockchain like he said I would be in lecture 2 😂
It’s a series a great one at that, you can go to the next lecture, in the link of the playlist underneath the video
Ha... ignorance is bliss, maybe the blue pill would have been more palatable
Thank you MIT courseware
Well done child. Go back to mommy.
@@kennethkeen1234 Thanks peerce
Damn we sittin here watching this for free not having to go in a debt with a student loan, while everyone in that room had to pay thousands just to hear this. Lmao
@Jesse Carmona I make 6 figures without a degree net worth in high 6 figures
@Jesse Carmona just proving you wrong. If you live with that mind set you will stay poor forever. You took the negative from my post then the positive outlook. That’s a poor mindset
Facts! And still just a hundred views yeez
Ha thinking the same thing. The only person thats not gonna have to pay their debt is the bimbo that couldn't read. Shes gonna marry someone thats gonna pay it for her 😆😜
well said lol
thankyou for this video. I want to ask about technical presentation. How to switch between slide and presenter? is there an operator to operation this? thank you
The difficulty rating varies based on how much hash power is available to mine. The nonce value varies to accommodate increased or decreased hash power available to mine the next block. By adding or reducing the zeros in the nonce, the time to hash the next block precisely lands in 10 minute intervals, regardless of how much hash power is added or reduced.
Are all 4 year halving cycles precise enough to predict the next halving?
If so when is that event going to happen?
@@Brian-tc7ii The halving happens at specific block heights, about every 4 years. The fourth Bitcoin halving is going to happen in 2024 after 840,000 blocks will be mined, and the reward per block will be 3.125 BTC instead of the current 6.25.
@@mezzmarr1209 Thank you. I question because if blocks are mined precisely every 10min, we should precisely determine the day and time of halving.
What am I missing?
Great engaging teacher!
Could anybody tell which books were used in this course?
Русскоязычные хомяки отмечаемся под этим комментом. Спасибо mit за уникальную возможность смотреть это из любой точки мира
One of the most valuable resources available on the internet about blockchain. Can anyone tell me which is the demo is he talking about?
Thanks for the content!
I’m confused if Larry is still there for the lecture or not
So is Gary !
I started watching just to find out if Larry was in the lecture again.
I love this guy!!
Prof. Gary made a mistake with Base58's functionality, which is not designed to compress data, but to make binary data trasmitted over network easily and more visual friendly. The cons of Base58 is it makes data size bigger, not smaller.
Does the word knots also transfer to the speed of a boat? Mph or kph are accurate but speed of a boat it surely Less accurate ?
Mr Gensler provided very detailed explanation about bitcoin and its cryptography.. could he be Satoshi Nakamoto or the part of the group??
This is gold ❤️
This is a great lecture but I am confused by which order everything occurs. In order to mine the next block, don't the transactions from the current block have to be completed as indicated by the merkle root hash? Wouldn't that make for a lot of wasted time that miners could be mining? How can you be continuously guessing nonces if the transaction list is not fully determined?
it takes the longest verified chain of transactions
What is the video that Prof. Gensler referrred to multiple times in this video? I only understood about half of today's class and was wondering if that would help.
Great content. Thank you!
i'm honestly just marveled that i made it to class 3 of an MIT course...
This is a course specifically designed to be open to anyone in the MIT community. It’s from the business school. An engineering or computer science course in the same topic would be a lot more difficult. I’m happy they make courses like this that the public can follow along with. I learned a lot from this course.
It’s not an engineering course, my dude.
I stumbled on this last Night.. What an amazing insight..
New sec chair shipe 🤲💎
Your mathematics is top tier babyyy
Bravo! This is so great!!
Me like big man. Me big amerrycan. You is cool. 😂😱
The question at 49:45, the lecturer misunderstood/mis-answered (or was it me?)
I think the point being made by the student is that:
Assume some random set of transactions (and other bits) that produce a collusion with an existing hash in the blockchain.
The probability that all of those transactions are also simultaneously valid is very low, and therefore the block would be rejected in many cases - thus reducing the number of possible collisions.
Or put another way, it's not sufficient to find a set of transactions (and nonce etc) that produce the same hash, those transactions must also be completely valid for the starting ledger state.
I couldn’t believe my eyes when I see this course being taught by GG! Oh how the times have changed….
Now he has SBF's mess to deal with
I knew about it when it was released, but I didn't have the balls to study it. Better late than never I guess.
You ain’t kidding! We need a SEC reboot, employees who will help USA innovation thrive while also protecting investors. Would be nice if the SEC could be employed by an actual election.
Anyone know where I can get the readings/literature for this course?
if you go to the course link in the description everything is on there. MIT OpenWare is incredible
ocw.mit.edu/courses/sloan-school-of-management/15-s12-blockchain-and-money-fall-2018/readings/
What is the video that professor keeps referencing ?
The time stamp is not what causes the difficulty adjustment its based on the last 2016 blocks
The guy is a con artist, he probably hasn’t even looked at the source code himself, or made a contribution.
But he’s a shill like the rest, so he’ll be in charge of it.
The nonce value determines the difficulty.
Can we get the demo as well?
that first dude lol who read the book 5 years ago this is an inspiration if you realize hes at that class now , the implications haha
Watching this in April 2024 16 days before the halving. BTC is is valued around $67,800
I heard that the last Bitcoin Will not be mined before 2120…. Gerry saying 2040!
Which one is correct?
Wow, this course is addictive.
Where can I find the Bosworth blockchain demo?
Prof/Chairman Gensler refers to the demo app constructed by Andreas Bosworth. A link is presented in the introduction that links to a website that is now “owned” by someone other than Bosworth.
Please point me to the actual demo app, not the video. Thanks
Thanks MIT, MIT has made me think that I am now MIT, not at MIT...
Does anyone know where one can get the study questions and reading lists?
The course materials are available on MIT OpenCourseWare at: ocw.mit.edu/15-S12F18. Best wishes on your studies!
does the entire block get rejected, if 1 of the 1000 transactions is fraudulent?
The UTXO was a crucial piece he left out when trying to explain the public key impersonation question. Can anyone confirm this?
I'm watching this when BTC is valued $56K
There is no way bitcoin can continue to rise
@@mikemerlin4020 Bitcoin will be way over 100k In the future
@@mikemerlin4020 see
@@mikemerlin4020 the only way this is true is if AGAIN central power manipulates another asset
@@mikemerlin4020 It will!
Lovely, thanks
Does anyone here has the link of the video they refer to at 50:50?
28:32 interesting analogy Gary
I disagree with it honestly
@@marksalvioli693 that guy is a wolf in sheep’s clothing, a con.
diffie hellman did pretty good privacy for email before bit coin think of the trap door hash function example add 2 primes even if u have the total u cannot recover the primes one is the public key one is the private key u need both to have validation. basically it is the one way trapdoor.