4. Blockchain Basics & Consensus

MIT 15.S12 Blockchain and Money, Fall 2018
Instructor: Prof. Gary Gensler
View the complete course: https://ocw.mit.edu/15-S12F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn

This lecture covers blockchain consensus protocols. Because of the decentralized nature of blockchain technology, it is crucial that consensus protocols are used to require that the nodes on the network agree on the same state of a blockchain.

License: Creative Commons BY-NC-SA
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About the Author: David Picklesimer


  1. To any young kids watching this who think they aren't smart enough to go to MIT, this class shows you probably can if you want to, this is like every high school class where 10% do the reading and answer questions and the rest are thinking about their social lives and half asleep. And that 10% aren't necessarily geniuses either.

  2. Had a fun time following this one. Did less rewinds than the previous lecture. Got it done faster understood 90% at depth. Woo!

  3. Voting in a democracy is a Byzantine General’s problem. Blockchain offers a method to gain more accurate voting results and come to a 50.00001% consensus more quickly. In the extreme, proof-of-work by every participant also makes the voting process more secure.

  4. Since he is touching the topic of bizantine fault tolerance protocols and its determinism, he should make a parallelism with Ouroboros from Cardano to understand why it matters since its more resilient than BFT and its moderm adaptations..

  5. This was somewhat painful to watch, though grateful for MIT sharing (Im an MIT alum on Edx) but asking generally uninformed students who are merely learning so many questions, while they are not mic'd up to boot, makes a very frustrating experience in a recorded mass shared lecture. Would have far preferred all questions at the end and the course materials presented. Just an opinion, still grateful for MIT to share material.

  6. Time (VDF:Verifiable Delay Function)was the missing piece for the proof of space (hard drives) concept. Therefore creating the more efficient more random blockchain in chia while still using the Nakamoto consensus.

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