Blockchain, Bitcoin, Ethereum

Global consensus... or on the path to Skynet? 😈


8 April 2016

Madarasi Hargita



PΓ©ter SzilΓ‘gyi

Ethereum Core Developer

These are the slides of my talk from the 10th Computer Science (student) Meetup held on the Hargita Mountains. It used Vinay Gupta: Programmable Blockchains in Context as the inspirational material. This slide deck is a translation of the original Hungarian version.

Act I – 1970 IBM

Birth of modern computing

The world of big iron

Gigantic corporations paid exorbitant amounts to store their most valuable data.

Birth of a distorted reality... whaaat? πŸ˜•

Forcing reality into spreadsheets

Half a century's painful legacy...

Act II – 1990 Tim Berners-Lee

Birth of the web – The network is the computer ~Sun Microsystems

Organic formation of computer networks

Invention of the Internet of Things

Where worlds collide πŸ’₯

database vs. network

Databases working together

Our machines? Expensive paper simulators...

Let's connect the databases! (uhm, no...)

Link'em up and they'll just workβ„’

Unusable long-term instability

Let's centralize our collaborations! (oh my...)

Orchestration by a trusted third party

Delegating our social-, professional and financial interactions. But infrastructure too!

Protocols, protocols, protocols...

Collaboration above personal interests

Stagnation for 3 decades! Skype, Slack, WhatsApp?

Act III – 2008 Blockchain

Bitcoin – 7 billion dollar "accident" – Central Bank of the Internet

Academic experiment for global consensus

Why financial application? Understandable, acceptable

Soul of Bitcoin – Blockchain technology

Initial
shared state
Transaction
broadcasts
Sorting
aggregating
Block
propagation
Validation, new
shared state
To infinity... and beyond!

Block time stability – Gold mining!? αƒš(ΰ² _ΰ²  αƒš)

Wizard ⇔ Node | Potion ⇔ Transaction | Chest ⇔ Block | Mining ⇔ Hashing | Gold decoration ⇔ 00..0 hash prefix | Uniqueness ⇔ Adds previous hash

From a gamer's perspective πŸ˜‹

Need a solution to prevent multiple chests from emerging...

Bitcoin clones, colored coins

Bitcoin became an enormous success

Billion dollar question: Could they be merged into a single network?

2015 Ethereum – Turing complete network

Ethereum – network is the database – network is the computer

Worlds first and only global computer

But what can it actually do?! πŸ˜…

Example – Crowdfunding

Gathering funds from complete strangers

Tiny programmed contract (this one β‡’)

Limitations and current development – Web 3.0

Global throughput not high enough (20-25 tps)

Too expensive for massive data storage

No real time interaction (15s latency)

Thank you

Ethereum Core Developer

Use the left and right arrow keys or click the left and right edges of the page to navigate between slides.
(Press 'H' or navigate to hide this message.)