1 of 177

Section 3.1

Decentralized Consensus

and Blockchains

Learn the fundamentals of decentralized consensus and the blockchain data structure

2 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

3 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

4 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

5 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Decentralized

Consensus!

6 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

7 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

8 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

9 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

10 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

11 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

12 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

13 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

14 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

$100

15 of 177

Decentralized Consensus

0x171

$100

16 of 177

Decentralized Consensus

0x171

2

$100

17 of 177

Decentralized Consensus

0x171

2

$100

18 of 177

Decentralized Consensus

0x171

2

$100

19 of 177

Decentralized Consensus

0x171

2

$100

20 of 177

Decentralized Consensus

0x171

21 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

22 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

23 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

24 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

25 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

26 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

27 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

28 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

29 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Transaction Pool

30 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Transaction Pool

31 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

32 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

33 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

34 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

35 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

36 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

37 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

38 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Transaction Pool

39 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Transaction Pool

40 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

41 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

42 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

43 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

44 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

45 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

46 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

47 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

48 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Transaction Pool

49 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Transaction Pool

50 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

51 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

52 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

53 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Transaction Pool

Transaction Pool

Transaction Pool

Transaction Pool

54 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

55 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

56 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

57 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

58 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

59 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

Transaction Pool

60 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

Transaction Pool

61 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

Transaction Pool

62 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

Transaction Pool

0

$100

63 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

Transaction Pool

0

$100

64 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

Transaction Pool

0

$100

0

65 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

Transaction Pool

0

$100

0

66 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

Transaction Pool

0

$100

0

67 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

Transaction Pool

0

$100

0

68 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

Transaction Pool

0

$100

0

69 of 177

0x2a2

0xbc1

0x6e2

0x171

Decentralized Consensus

0x6e2

Transaction Pool

70 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

71 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

72 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

73 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

74 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

75 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

76 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

77 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0

78 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

79 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

80 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

81 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

82 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0

83 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

84 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

85 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

86 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0

87 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

88 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

89 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

90 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

91 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

92 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

93 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

94 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

95 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

Transaction Pool

96 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

Transaction Pool

97 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

Transaction Pool

0

$100

0

0

$100

98 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

Transaction Pool

0

$100

0

0

$100

99 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

Transaction Pool

0

$100

0

0

$100

1

100 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

Transaction Pool

0

$100

0

0

$100

1

101 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

Transaction Pool

0

$100

0

0

$100

1

102 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

Transaction Pool

0

$100

0

0

$100

1

103 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

Transaction Pool

0

$100

0

0

$100

1

104 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

0x2a2

Transaction Pool

105 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

106 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

107 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

108 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

109 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

110 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

111 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

1

112 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

113 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

114 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

115 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

116 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

117 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

118 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

1

119 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

120 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

121 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

122 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

123 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

124 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

125 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

126 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

1

127 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

128 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

129 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

130 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

131 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

132 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

133 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

134 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

135 of 177

0x171

0

$100

0

0

$100

1

136 of 177

0x171

0

$100

0

0

$100

1

137 of 177

0x171

Transaction Pool

0

$100

0

0

$100

1

138 of 177

0x171

Transaction Pool

0

$100

0

0

$100

1

139 of 177

0x171

Transaction Pool

0

$100

0

0

$100

1

0

$100

140 of 177

0x171

Transaction Pool

0

$100

0

0

$100

1

0

$100

0

$100

141 of 177

0x171

Transaction Pool

0

$100

0

0

$100

1

0

$100

0

$100

2

142 of 177

0x171

Transaction Pool

0

$100

0

0

$100

1

0

$100

0

$100

2

143 of 177

0x171

Transaction Pool

0

$100

0

0

$100

1

0

$100

0

$100

2

144 of 177

0x171

Transaction Pool

0

$100

0

0

$100

1

0

$100

0

$100

2

145 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

146 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

147 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

148 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

149 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

150 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

151 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

2

152 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

153 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

154 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

155 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

156 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

2

157 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

158 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

159 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

160 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

161 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

162 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

163 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

2

164 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

165 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

166 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

167 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

168 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

169 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Is this system:

​

170 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Is this system:

  1. Censorship resistant?

171 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Is this system:

  • Censorship resistant?
  • Reversion resistant?

172 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Is this system:

  • Censorship resistant?
  • Reversion resistant?
  • Scalable?

173 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

Is this system:

  • Censorship resistant?
  • Reversion resistant?
  • Scalable?

174 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

175 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

1 spin/ 10 min

176 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

1 spin/ 10 min = 1 tx/10 min

177 of 177

Decentralized Consensus

0x2a2

0xbc1

0x6e2

0x171

1 spin/ 10 min = 1 tx/10 min