Blockchain Fundamentals

This lecture covers the financial applications of blockchains and distributed ledgers, exploring topics such as the definition of blockchain, its history, proof of work, Ethereum, decentralized finance, smart contracts, tokens, and programming smart contracts. It delves into the assessment methods, including coding assignments, group essays, and group presentations. The lecture also discusses the necessity to abandon central authority in the monetary system, the challenges of double spending in distributed networks, and the properties of digital signatures and cryptographic hash functions. Additionally, it explains the origins of blockchain technology, the Bitcoin consensus algorithm, the decision path for using a blockchain, and the crucial aspects of security, decentralization, and scalability in blockchain technology.