@@ther6989 Yes but for the vast majority of people - ignorance really is a choice. Dude more people have phones than access to a toilet for crying out loud XD it's insane.
@@wacythepro8972 I agree to a certain degree. I think not everybody should feel him/he self compelled to study something just because "hey it's on the internet" but we live in the era of free information and if we can use it to our goal we just have to search for it, and we can study.
I wouldn't suggest that. The philosophical underpinnings and the pre-bitcoin ideas i.e. chaumian ecash are important to appreciate the material presented henceforth.
Mudabbir Bajwa While I do agree with you that it is important to have that knowledge, I think almost all people who watch this course have it, also the way this lady is presenting it is unnecessarily stretched and over talked this is why I thought it is better if other people save almost half hour of their time rather than listen to what they already know.
I love how they emphasize the importance of history in explaining how we got here. During my studies, I had the opportunity to check out some revolutionary war currencies that began circulating right before we announced our independence from the British empire. Very important stuff.
The first half had me feeling great like I can understand all this. Then the second half kicked my ass. Lol. Had to slow it down and start googling to wrap my head around it. Awesome course! It really opens your eyes to just how revolutionary block chain and cryptocurrencies can be.
At least she's better at explaining the basics to newbies. I find that trying to listen to any of the current(post 2017)" insiders", there's a giant wall of jargon to overcome.
@@Lazyeyewitness have you practiced using bitcoin or cryptocurrencies? Are they being backed by most western nations , currently? Are pple really locking in on cryptotransactions? I ask coz I want to know
@@tosin_davidson To answer your questions: Yes, no, and I don't know, respectively. It seems that adoption continues, and the network keeps growing if you look at the number of nodes, for example.
About Chaumian e-cash, at 22:47, Professor says: "It's all in the paper that was assigned reading for this class, so make sure that you take a look at it" Where can I find the mentioned papers?. @Sunny 47 also asked this question 3 months ago.
The character 8 that you see in the hash looks like a decimal 8, but it's an 8 in hexadecimal. When you convert 8 from HEX to binary, you end up with 00001000. You ignore the first 4 0's and end up with 1000.
Hey - how does this course compare to Gary Gensler's course also at MIT. I'm midway through that - it's great. From what I can tell, this one is sligthly more technical but not necessarily a whole lot more.
Exactly what you said. It emphasizes on permissionless cryptocurrencies. Genslers course focused on blockchain usecases (both permissioned and permissionless systems) and money. This is course is narrow as Gensler's course had a more wider scope.
Money does have value because of supply and demand. It's utility as money, including that people think it has value and will be accepted as money where they try and use it, is what creates demand, but the value of money is create by supply and demand. You can't think money has more value and make it more valuable, it's value can't be dictated, as the value is set relative to the goods and services it's exchanged for. Dictating the value for money just changes the relative value of other goods and services. Since money is the intermediary exchange between other goods and services, and the real value of those goods and services is subjective and the price is set by the market of supply and demand, the exchange rate between goods and money is only relevant if the value of the money is changing too drastically (as in hyper inflation).
I have an idea how to use the lampart signature to sign multiple times without compromising any security. When you want to sign your first message you also generate a new private and public key (those hash blocks) and you append a commitment of your new public key in the message you sign. That way the recipient of that signed message knows what public key will you use to sign the second message. And just rinse and repeat for ever.
they are definitely related. consider the case from property2 where hash(x')=y=hash(x). This does also break porperty3 --collision-- but the inverse is not true. That is to say, breaking property3 does not necessarily break property2. in a situation where hash(x)=y=hash(z) you only need to find ANY x and z such that they both equal Y. However, the case from property2 states that x is *given* and as such, x' needs to be specific to x, for perhaps many many different values of x. Breaking property2 is a HUGE security vulnerability because it allows for MITM attacks against ANY input x where hashing is used as validation. However, breaking property3, is, while bad, not universally catastrophic if there are relatively few cases of x,z pairs. in this video, it appears that the MIT instructor glosses over on property2 on purpose because property3 is a sort of half step that is easier to achieve for a potential attacker and is still bad enough to warrant attention for security reasons. I know this is 2 years after your comment and you've probably already understood the nuance by now, but i hope it helps others in the future to understand the subtle difference between the two.
Thanks for the content MIT! The SHA256 hash of "I think it won't snow Wednesday! d79fe819" at 47:23 is wrong by the way. It is 4d632b89b71872c91173ea62fc8e9ca61b7773af18f0f59e351f6f5ad34785df. In Linux/Debian, it will require --> echo -n "I think it won't snow Wednesday! d79fe819" | sha256sum
Basically, "echo -n" imparts a different meaning to the string as compared to "echo", which completely alters the binary value associated with the string. For e.g. If you add an extra line break, you will get a different value of the same string. And here option "-n" implies no newline at the end of this particular string and " " does have some value (binary value) in any encoding (Unicode, ASCII). And every Hash Function works on binary if the binary value of string got altered you will get a different hash for sure!! So, the value displayed in the lecture is perfectly right......
@@its_singh_nikhil OP is correct, option -n is more appropriate for hashing the value of the string because the string properly does not contain a newline, the newline is an artifact of echo's default behavior where it adds additional data. Sucks that there's not a clean way to hash things without relying on echo and a pipe, eh?
Because there's no introduction with a background story of genesis block (and the message Satoshi left there), in 1st lesson you say "bank the unbanked", - which is kind of misunderstanding of what cryptocurrency really is for.
will a Quantum computer will be able to find these hashes much faster which could kill blockchain?? is 2^256 that big for a Quantum computer like Google just developed?
@@YouGotOptions2 By the time we approach quantum supremacy, bitcoin will have changed hashing algoritmh to something that a quantum machine can't do so well
No, that’s not possible at the moment. Neither with the ECDSA / RSA-2048 algorithm nor with the SHA-256 algorithm, and according to research, that would happen until 2036.
You need to go to MIT and give them 30K a year ... THAT'S ALL ...good luck.. Sarcasm aside, dude you can learn to code and do blockchain by buying a couple books.
@@mitocw In the assignment section it is mentioned that there is already some amount of driver code provided for that problem but I could not find any.
Well, the secret numbers are being generated randomly and I guess we would have functions that make collisions probabalistically impossible. That said however, there is nothing stopping the bank from maintaining a list of secret numbers already used right?
OCW does not offer any degree, credit, or certification. For MIT online courses with certificates of completion, visit: MITx Online/MITx on edX: openlearning.mit.edu/courses-programs/mitx-courses MITx MicroMasters: openlearning.mit.edu/courses-programs/micromasters-programs MIT xPRO: openlearning.mit.edu/courses-programs/mit-xpro MIT Bootcamps: bootcamps.mit.edu/ MIT Management / Sloan Executive Education: exec.mit.edu/s/ For questions about these programs, please contact them directly.
There is no textbook for this course. There are readings listed in the lecture notes. See the course materials on MIT OpenCourseWare at : ocw.mit.edu/MAS-S62S18. Best wishes on your studies!
The US dollar is still backed by metals: lead, uranium and plutonium. The difference being that they give those metals to your country if you don't do what they want.
There are no textbooks for this course but there are lecture notes and some extra readings listed. See the materials on MIT OpenCourseWare at: ocw.mit.edu/courses/mas-s62-cryptocurrency-engineering-and-design-spring-2018/pages/lecture-notes/. Best wishes on your studies!
I would debate even calling it a 'currency'. Take BTC for example: - If you lose power (like New York yesterday or Puerto Rico for months) you are screwed! However, transactions in paper currency in both scenarios was still viable. - The wild price fluctuations make it unsuitable as a currency. A currency that's worth $20,000 one day and $3,000 days later is unsuitable, business can't function this way. - No government recognizes it as a currency. Governments see it as a commodity to which you have to pay capital gains tax on. Big banks will thwart any effort to undermine their control. - No one other than criminals in the Dark Web are using it as a currency. For example, you can't go down to your local mall and purchase anything with it, see a movie, purchase gas, etc.
I found the lamport signature part a bit confusing. Here is an explanation that one might find useful, ua-cam.com/video/be3DJEaOYfg/v-deo.html I didnt realize that you give away a part of the private key in the signature. You then hash this signature to map it to the public key which was mapped to the private key.
I think that probability and game theory and guessing needs to be integrated into this curriculum because It doesn't account for human decision and human decision is decided by how likely they think they are going to win. So thats probability and game theory.
43:49 So you broke the IOTA hash function, thank you, I lost money in that, you are an #$%@... I'm kidding ,just not about the losing money part, although they seem to have recovered recently, but I can't find the IOTA I used to have, they have a great concept, but struggling with the technical part, so I actually blame them, always use public encryption, it was meant to happen, I didn't know better back then.
We live in an age where ignorance is a choice. A mobile phone with a data connection is letting me view open source MIT classes. We are so lucky.
It's not that simple. There are so many other variables that you're not considering such as Mental Health.
and the information is useless
you are so right. thank you thank you thank you thank you
@@ther6989 Yes but for the vast majority of people - ignorance really is a choice. Dude more people have phones than access to a toilet for crying out loud XD it's insane.
@@wacythepro8972 I agree to a certain degree. I think not everybody should feel him/he self compelled to study something just because "hey it's on the internet" but we live in the era of free information and if we can use it to our goal we just have to search for it, and we can study.
I recomend that you start watching here: 27:36
Thanks for saving 20 mins
Totally. Shame they merged both into one video.
Thanks man.
I wouldn't suggest that. The philosophical underpinnings and the pre-bitcoin ideas i.e. chaumian ecash are important to appreciate the material presented henceforth.
Mudabbir Bajwa While I do agree with you that it is important to have that knowledge, I think almost all people who watch this course have it, also the way this lady is presenting it is unnecessarily stretched and over talked this is why I thought it is better if other people save almost half hour of their time rather than listen to what they already know.
I love how they emphasize the importance of history in explaining how we got here. During my studies, I had the opportunity to check out some revolutionary war currencies that began circulating right before we announced our independence from the British empire. Very important stuff.
The first half had me feeling great like I can understand all this. Then the second half kicked my ass. Lol. Had to slow it down and start googling to wrap my head around it. Awesome course! It really opens your eyes to just how revolutionary block chain and cryptocurrencies can be.
same 😅
Lamport Signatures kinda messed my head!
@@geekyprogrammer4831 same, do know now, the process?
FR. I'm gonna have to watch this video again several times to finally get what he's saying
I'm with you. Same here..😅
Thanks MIT for sharing courses with us
Great introduction!
Thanks MIT for sharing knowledge
Finally, crypto goes to mainstream high education
At least she's better at explaining the basics to newbies. I find that trying to listen to any of the current(post 2017)" insiders", there's a giant wall of jargon to overcome.
@@Lazyeyewitness have you practiced using bitcoin or cryptocurrencies? Are they being backed by most western nations , currently?
Are pple really locking in on cryptotransactions?
I ask coz I want to know
@@tosin_davidson To answer your questions: Yes, no, and I don't know, respectively.
It seems that adoption continues, and the network keeps growing if you look at the number of nodes, for example.
Thank you
MIT is the stratosphere of intellectual value.
✨👍✨
41:51 break RSA Means factorizing, Breaking SHA
Very interesting course! In the second part of the video professor who looks like Elon Musk explained quite fast but with good examples!
@@josephvanname3377 lmao 🤣
About Chaumian e-cash, at 22:47, Professor says: "It's all in the paper that was assigned reading for this class, so make sure that you take a look at it" Where can I find the mentioned papers?.
@Sunny 47 also asked this question 3 months ago.
I believe it was www.chaum.com/publications/Chaum-blind-signatures.PDF
@@gjenkin huge
thx
Dud did you know where can we found it
Thank you, MIT!
Neha is really smart.
Thanks for this amazing quality content
"So the first bit here is a one, because it's an 8"-. 01:00:32 Can anyone explain how he gets to that conclution?
The character 8 that you see in the hash looks like a decimal 8, but it's an 8 in hexadecimal. When you convert 8 from HEX to binary, you end up with 00001000. You ignore the first 4 0's and end up with 1000.
Hey - how does this course compare to Gary Gensler's course also at MIT. I'm midway through that - it's great. From what I can tell, this one is sligthly more technical but not necessarily a whole lot more.
Exactly what you said. It emphasizes on permissionless cryptocurrencies. Genslers course focused on blockchain usecases (both permissioned and permissionless systems) and money. This is course is narrow as Gensler's course had a more wider scope.
18:47 बbank maintain balances,
Can someone please link the paper that she mentions at 22:47 ? I couldn't find it on the OCW website either. Would really appreciate it.
I also want to know.
Money does have value because of supply and demand.
It's utility as money, including that people think it has value and will be accepted as money where they try and use it, is what creates demand, but the value of money is create by supply and demand.
You can't think money has more value and make it more valuable, it's value can't be dictated, as the value is set relative to the goods and services it's exchanged for. Dictating the value for money just changes the relative value of other goods and services. Since money is the intermediary exchange between other goods and services, and the real value of those goods and services is subjective and the price is set by the market of supply and demand, the exchange rate between goods and money is only relevant if the value of the money is changing too drastically (as in hyper inflation).
I agree
Thanks MIT, i love you.
Thank you . We are very lucky this is open source
My thought: Dollar was supported by gold which is a type of valuable object, but now it is "I owe You" without any valuable object to support it.
not to mention that government could just add more money to the system and completely devalue everything you have instantaneously.
I have an idea how to use the lampart signature to sign multiple times without compromising any security. When you want to sign your first message you also generate a new private and public key (those hash blocks) and you append a commitment of your new public key in the message you sign. That way the recipient of that signed message knows what public key will you use to sign the second message. And just rinse and repeat for ever.
22:08 david chauman
34:56. Property 2 and 3 can't coexist. If there exists an X prime(property 2) then property 3 is not being validated.
they are definitely related. consider the case from property2 where hash(x')=y=hash(x). This does also break porperty3 --collision-- but the inverse is not true. That is to say, breaking property3 does not necessarily break property2.
in a situation where hash(x)=y=hash(z) you only need to find ANY x and z such that they both equal Y. However, the case from property2 states that x is *given* and as such, x' needs to be specific to x, for perhaps many many different values of x. Breaking property2 is a HUGE security vulnerability because it allows for MITM attacks against ANY input x where hashing is used as validation. However, breaking property3, is, while bad, not universally catastrophic if there are relatively few cases of x,z pairs. in this video, it appears that the MIT instructor glosses over on property2 on purpose because property3 is a sort of half step that is easier to achieve for a potential attacker and is still bad enough to warrant attention for security reasons.
I know this is 2 years after your comment and you've probably already understood the nuance by now, but i hope it helps others in the future to understand the subtle difference between the two.
The hash message at 1:00:26 is wrong, it should be `hi` not `Hi`.
Glad I found this .
Thanks for the content MIT! The SHA256 hash of "I think it won't snow Wednesday! d79fe819" at 47:23 is wrong by the way. It is 4d632b89b71872c91173ea62fc8e9ca61b7773af18f0f59e351f6f5ad34785df. In Linux/Debian, it will require --> echo -n "I think it won't snow Wednesday! d79fe819" | sha256sum
Basically, "echo -n" imparts a different meaning to the string as compared to "echo", which completely alters the binary value associated with the string. For e.g. If you add an extra line break, you will get a different value of the same string. And here option "-n" implies no newline at the end of this particular string and "
" does have some value (binary value) in any encoding (Unicode, ASCII). And every Hash Function works on binary if the binary value of string got altered you will get a different hash for sure!! So, the value displayed in the lecture is perfectly right......
@@its_singh_nikhil OP is correct, option -n is more appropriate for hashing the value of the string because the string properly does not contain a newline, the newline is an artifact of echo's default behavior where it adds additional data.
Sucks that there's not a clean way to hash things without relying on echo and a pipe, eh?
Because there's no introduction with a background story of genesis block (and the message Satoshi left there), in 1st lesson you say "bank the unbanked", - which is kind of misunderstanding of what cryptocurrency really is for.
will a Quantum computer will be able to find these hashes much faster which could kill blockchain?? is 2^256 that big for a Quantum computer like Google just developed?
This may be a lil bit out of my leauge but I would argue perhaps quantum hash would likely become a thing.
@@YouGotOptions2 By the time we approach quantum supremacy, bitcoin will have changed hashing algoritmh to something that a quantum machine can't do so well
No, that’s not possible at the moment. Neither with the ECDSA / RSA-2048 algorithm nor with the SHA-256 algorithm, and according to research, that would happen until 2036.
Great lecture! Where can I download code for the problem set?
You need to go to MIT and give them 30K a year ... THAT'S ALL ...good luck..
Sarcasm aside, dude you can learn to code and do blockchain by buying a couple books.
The materials that we have for the course are on MIT OpenCourseWare at: ocw.mit.edu/MAS-S62S18. Best wishes on your studies!
@@mitocw In the assignment section it is mentioned that there is already some amount of driver code provided for that problem but I could not find any.
What are the prerequisites for this course....
How does the bank confirms if anyone has already requested the same secret number when cash was requested by Alice with a 'blind' ?
Well, the secret numbers are being generated randomly and I guess we would have functions that make collisions probabalistically impossible. That said however, there is nothing stopping the bank from maintaining a list of secret numbers already used right?
is it lesson for first year students?
First year grad students with programming experience? (It's a graduate level course.)
Great classes! Is it possible to get a certificate for taking this course?
OCW does not offer any degree, credit, or certification. For MIT online courses with certificates of completion, visit:
MITx Online/MITx on edX: openlearning.mit.edu/courses-programs/mitx-courses
MITx MicroMasters: openlearning.mit.edu/courses-programs/micromasters-programs
MIT xPRO: openlearning.mit.edu/courses-programs/mit-xpro
MIT Bootcamps: bootcamps.mit.edu/
MIT Management / Sloan Executive Education: exec.mit.edu/s/
For questions about these programs, please contact them directly.
58:11 2 kb?
34:33 Isn't that basically the definition of a unique solution in number theory?
Is there an accompanying textbook for this course?
There is no textbook for this course. There are readings listed in the lecture notes. See the course materials on MIT OpenCourseWare at : ocw.mit.edu/MAS-S62S18. Best wishes on your studies!
The US dollar is still backed by metals: lead, uranium and plutonium. The difference being that they give those metals to your country if you don't do what they want.
what's ICO?
Ico is a initial coin offering hope that helps.
P = 0x-P Q8 98.
58:14 16kb altogether
Elon's cousin teaching Bitcoin, sweet!
0:27
01:08 disappeared from the world?😮
Anytime I observe someone speaking about motivation, I always reach out and say hello. How long have you been constructing videos?
MIT就是比很多中国的大学做的好！ Open Course Open Source
MIT是比很多美国大学做的好 哈哈
can anyone recommend textbooks for me to read?
There are no textbooks for this course but there are lecture notes and some extra readings listed. See the materials on MIT OpenCourseWare at: ocw.mit.edu/courses/mas-s62-cryptocurrency-engineering-and-design-spring-2018/pages/lecture-notes/. Best wishes on your studies!
watching in 2022...
first 27 minutes are amazing and breeze and then suddenly it seems like I have entered into matrix where I don't know what's happening.
I don’t agree with tokens only have value because we think they are valuable. A tokens use case applied through technology gives it value.
ADA 🚀
pity, that few most interesting (technically) lessons are excluded from this playlist...
Which are they?
5:37
She is brilliant and beautiful
21:21
The guy in the second half looks like Elon Musk's son
i agree ..or a youngrer brother of Ellon even the speech pattern..lol
We do not know who the person is? Does he/she/it really disappeared?
I would debate even calling it a 'currency'. Take BTC for example:
- If you lose power (like New York yesterday or Puerto Rico for months) you are screwed! However, transactions in paper currency in both scenarios was still viable.
- The wild price fluctuations make it unsuitable as a currency. A currency that's worth $20,000 one day and $3,000 days later is unsuitable, business can't function this way.
- No government recognizes it as a currency. Governments see it as a commodity to which you have to pay capital gains tax on. Big banks will thwart any effort to undermine their control.
- No one other than criminals in the Dark Web are using it as a currency. For example, you can't go down to your local mall and purchase anything with it, see a movie, purchase gas, etc.
you can delete your comment its doesnt make sense no more , Thnx :)
@@nassmili8044 My comment is just as relevant today. Look at BTC price fluctuation over the past month. Ridiculous.
@@SoCalFreelance Try thinkng about BTC as a currency itself and not try to value it in $ amount. (i.e. gallon of milk for 1 btc)
@@ddfsefa That's a nice thought experiment, but that's not how it's being used. BTC is completely tied to currencies and exchanges.
CREATED BY AN AGENT 😏😴💤💤💤🚶🚶🚶💯
Nice t-shirt.. assert(0)
And you paid $66k to learn this whereas it’s totally free on internet
What about #silver? It's money. Real money.
6:41 she shows silver coins here
Tadge sounds like shroud.
🎉🎉🎉🎉🎉🎉
He sounds like shroud lol 30:00
If you already know a fair deal about implementing crypto this talk may bore you.
FYI, there are other videos in the series which focus on witnesses and other more useful concepts, not yet watched but worth knowing about
I found the lamport signature part a bit confusing. Here is an explanation that one might find useful,
ua-cam.com/video/be3DJEaOYfg/v-deo.html
I didnt realize that you give away a part of the private key in the signature. You then hash this signature to map it to the public key which was mapped to the private key.
I think that probability and game theory and guessing needs to be integrated into this curriculum because It doesn't account for human decision and human decision is decided by how likely they think they are going to win. So thats probability and game theory.
ua-cam.com/play/PLbRMhDVUMngfxxyVLh2t2gKDUfsOdGn56.html
ua-cam.com/play/PLrKK422S1aMma8lDA2JJjEUpC2ycuApuC.html
43:49 So you broke the IOTA hash function, thank you, I lost money in that, you are an #$%@... I'm kidding ,just not about the losing money part, although they seem to have recovered recently, but I can't find the IOTA I used to have, they have a great concept, but struggling with the technical part, so I actually blame them, always use public encryption, it was meant to happen, I didn't know better back then.
Second lecturer isn’t the best at explaining things
cool
40:07 felt kinda awkward for this guy)
This isn't new technology and this is nothing new about it
hey Elon
Simplistic view of money. Not impressed with this lecture. Simplistic accounting. Ugh, cant listen to it no longer.
The silky plaster lamentably grab because cemetery preliminarily tumble apud a fearful fearless tyvek. cloistered, gamy face
he tries his best, but doing a poor job at explaining properly
I'm sorry but that lady cannot teach.
I felt the guy at 1:00:00 cannot teach properly
@@geekyprogrammer4831 Do know what he taught?
Coz after 1:00:00 I just gave up.
MIT opencourseware, you guys are amazing!
12:48
1:12