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Lecture

Demystifying Bitcoin

In course

CS-451: Distributed algorithms

Computing is nowadays distributed over several machines, in a local IP-like network, a cloud or a P2P network. Failures are common and computations need to proceed despite partial failures of machines or communication links. This course will study the fo ...

Description

This lecture covers the history of Bitcoin, from its creation in response to the 2008 financial crisis to its current value and trading practices. It explains the role of users, participants, engineers, and scientists in the Bitcoin ecosystem, detailing concepts such as wallets, transaction validation, mining incentives, smart contracts, consensus algorithms, and the challenges of implementing asynchronous payment systems. The lecture also delves into the technical aspects of hashing, state machine replication, message passing, and the consensus number of objects in distributed systems.

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Instructor

Rachid Guerraoui

Rachid Guerraoui has been affiliated with Ecole des Mines of Paris, the Commissariat à l'Energie Atomique of Saclay, Hewlett Packard Laboratories and the Massachusetts Institute of Technology. He has worked in a variety of aspects of distributed computing, including distributed algorithms and distributed programming languages. He is most well known for his work on (e-)Transactions, epidemic information dissemination and indulgent algorithms. He co-authored a book on Transactional Systems (Hermes) and a book on reliable distributed programming (Springer). He was appointed program chair of ECOOP 1999, ACM Middleware 2001, IEEE SRDS 2002, DISC 2004 and ACM PODC 2010. His publications are available at http://lpdwww.epfl.ch/rachid/papers/generalPublis.html

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