Blockchain Technology: Elements, Nodes, and Smart Contracts

This lecture covers the fundamental elements of blockchain technology, including the concept of state, nodes, and users' interactions. It explores the decentralization aspects in blockchains, such as governance, user access, and permissioned vs. unpermissioned systems. The lecture also delves into the role of users, transaction verification, creation of blocks, and consensus mechanisms. Additionally, it discusses the content of transactions, assets, tokens, and smart contracts, providing examples of their applications. The importance of nodes in blockchain networks, their participation rights, proof of work mechanisms, and consensus for maintaining the global state are also explained.