Lecture

Limitations of Bitcoin and Increasing TPS

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CS-438: Decentralized systems engineering

A decentralized system is one that works when no single party is in charge or fully trusted. This course teaches decentralized systems principles while guiding students through the engineering of their own decentralized system featuring messaging, file sha ...

Description

This lecture covers the limitations of Bitcoin, such as high energy costs, low throughput, and inefficient smart contracts. It also discusses increasing the throughput with concepts like Bitcoin-NG and Algorand, focusing on reducing energy consumption and improving transaction processing speed.

Instructors (2)

Pierluca Borsò

Expertise Teaching & PhD Courses Decentralized systems engineering CS-438 A decentralized system is one that works when no single party is in charge or fully trusted. This course teaches decentralized systems principles while guiding students through the engineering of their own decentralized system featuring messaging, file sharing, encryption, and blockchain concepts.

Bryan Alexander Ford

Links DEDIS lab home pagePersonal home page Curriculum vitae https://bford.info/cv.pdf Teaching & PhD PhD Students Shailesh Mishra Past EPFL PhD Students Eleftherios Kokoris Kogias, Kirill Nikitin, Cristina Basescu, Enis Ceyhun Alp, Simone Colombo, Pasindu Nivanthaka Tennage, Louis-Henri Manuel Jakob Merino Past EPFL PhD Students as codirector David Froelicher, Ludovic Barman, Georgia Fragkouli Courses Decentralized systems engineering CS-438 A decentralized system is one that works when n

Official source

Ontological neighbourhood

Computer engineering

Computer security: Blockchain

Related concepts (31)

Cardano (blockchain platform)

Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA. Cardano's development began in 2015, led by Ethereum co-founder Charles Hoskinson. The project is overseen and supervised by the Cardano Foundation based in Zug, Switzerland. When launched in 2017, it was the largest cryptocurrency to use a proof-of-stake blockchain, which is seen as a greener alternative to proof-of-work protocols.

Cryptocurrency

A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities.

Proof of work

Proof of work (PoW) is a form of cryptographic proof in which one party (the prover) proves to others (the verifiers) that a certain amount of a specific computational effort has been expended. Verifiers can subsequently confirm this expenditure with minimal effort on their part. The concept was invented by Moni Naor and Cynthia Dwork in 1993 as a way to deter denial-of-service attacks and other service abuses such as spam on a network by requiring some work from a service requester, usually meaning processing time by a computer.

Cryptocurrency wallet

A cryptocurrency wallet is a device, physical medium, program or a service which stores the public and/or private keys for cryptocurrency transactions. In addition to this basic function of storing the keys, a cryptocurrency wallet more often offers the functionality of encrypting and/or signing information. Signing can for example result in executing a smart contract, a cryptocurrency transaction (see "bitcoin transaction" image), identification or legally signing a 'document' (see "application form" image).

Cryptocurrency and crime

Cryptocurrency and crime describes notable examples of cybercrime related to theft (or the otherwise illegal acquisition) of cryptocurrencies and some of the methods or security vulnerabilities commonly exploited. Cryptojacking is a form of cybercrime specific to cryptocurrencies that has been used on websites to hijack a victim's resources and use them for hashing and mining cryptocurrencies. According to blockchain analysis company Chainalysis, .

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