An Introduction to Blockchain with Mark Russinovich

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Description

Blockchain is an interesting technology that I wish I understood better. I reached out to Mark in order to get a better handle on the technology and why it might be useful in a business setting. In this video Mark explains the basic building blocks of blockchain. The discussion included transactions, blocks, and hashes and how these fundamentals could be used to create a distributed ledger. Would love your thoughts!

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The Discussion

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    kcdiaz

    Not a troll question. From the explanation on the video, which one came out first? Transactions or a Block?

  • User profile image
    faysl

    Good one . Well presented, I like the way Seth asks questions and Mark kept it simple. 

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    mbcalvin

    Great video. I would like to see more about Smart Contracts and how assets can be transferred using them (what kinds of assets can be transferred, i.e.) and also more understanding of gas with Ethereum (is it just another cryptocurrency?). Definitely a great start though.

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    Padhu

    Good. Informative. Solves the puzzle.

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    mchrist152

    It was good in general. But I would like to hear more about proof of stake as compared to proof of work. The blockchain described in this video, and the one used for bitcoin, is secured by proof of work which involves solving an arbitrary puzzle that serves no real purpose. Isn't there a better way? Isn't it a big waste of resources for a bunch of hardware to try and solve this puzzle? And as the stakes get higher and higher, because the mining hardware is getting more and more sophisticated and expensive, security is getting lower and lower because mining is being concentrated in fewer and fewer hands. It seems obvious that proof of stake is the future. What am I missing here?

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    karstenj

    @mbcalvin: I agree, it was a little confusing as presented. Ethereum is a cryptocurrency that can be used like any other cryptocurrency: traded, held in a wallet, exchanged for fiat or other crypto.

    But it also can be used as gas to pay for running the operations of a smart contract. 

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    MrSmith

    Great intro, love the algorthimes behind "the chain". It's not all about the digital currencies, to be even "smarter" one might track alot more in the blockchain. When you trade something someone might be interested in the chain and especially the delivery source. With the clouds you can store alot more, but you might be interested in the chain also when it's out of the traditional systems some decades or centuries from now.

     https://www.wired.com/2017/05/curious-plan-save-environment-blockchain/
     https://www.hyperledger.org/projects/sawtooth/seafood-case-study

     https://youtu.be/SV0KXBxSoio

    Just love the Coco frm and also the Intel SGX approche: faster processing and even smarter storeing and handling private keys.

     https://youtu.be/8s6JMmGJ-dY
     https://software.intel.com/en-us/sgx

    Even in the wood trading industry it's far more intelligent to upgrade the paper certificates ...

    https://www.pefc.org

    https://www.fsc.org

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    slkrck

    Nice way to talk about math, without talking about math.

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    Maricel Medina

    Nice video. Quick question: who and how is the first transaction validated?

  • User profile image
    andy korn

    part two?

  • User profile image
    sethjuarez
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    mehdi_mousa​vi

    I always wanted to know about this block-chain concept and this video helped me to learn it in half an hour. Great job, guys. Thank you.

  • User profile image
    Mark Russinovich

    Glad to hear it, and thanks for the feedback, @mehdi_mousavi. 

  • User profile image
    Shawn

    Hi All.

    Great video explaining blockchain, but I still find myself a little 'dazed and confused'.

    I cannot understand how you can transact in BitCoin if the transaction is not 'verified' until an arbitrary number of blockchains containing subsequent transactions has been built up to qualify the chances of the transaction being 'over-ridden' as virtually zero (but not zero).

    Also, the point whereby you move from a 'finders fee' model for compensating miners for offering their computing power to a transaction-based compensation model seems a bit vague. How (and when) is this determined and who (or what) determines the value of either the compensation or transaction?

    Can anyone suggest any further reading?

    Kind regards,
    Shawn

  • User profile image
    Ryan

    @Shawn

    Check out Mastering Bitcoin, by Andreas M. Antonopoulos

    A bit technical in parts, but great high level descriptions on a variety of topics within Bitcoin's protocol. It dives into what's going on under the hood, with programming examples that demonstrate how the protocol is architecturally designed to operate (I don't know how to program and still found it well worth the read).

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