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Introduction Prof. Tom Austin San Jos State University History of - - PowerPoint PPT Presentation

Sep 18, 2023 376 likes •703 views

CS 168: Blockchain and Cryptocurrencies Introduction Prof. Tom Austin San Jos State University History of currency 2000 BC Receipts represented grain stored in Sumerian temple granaries (representative money) 600-700 BC Coins

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CS 168: Blockchain and Cryptocurrencies

  • Prof. Tom Austin

San José State University

Introduction

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History of currency

  • 2000 BC – Receipts represented grain stored in

Sumerian temple granaries (representative money)

  • 600-700 BC – Coins developed in Anatolia,

Greece, India, and China (commodity money)

– Value of these coins tied to metal content

  • 900 AD – Jiaozi banknote developed in China

– fiat money– valuable because government says so

  • 1971 – U.S. breaks away from the gold standard
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  • Oct. 31, 2008
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Bitcoin Important Dates

  • March 2010 – User tried to auction 10k BTC for $50.

– No buyers.

  • May 22nd, 2010 – 2 pizzas bought for 10k BTC.
  • 2011 – matched price of a dollar
  • Dec 17, 2017 – $19,783.21
  • Dropped to about $6k and stabilized a little.
  • Current price: $11,956.80
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What is money?

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Money is:

  • A medium of exchange
  • A unit of account
  • A store of value
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Properties of Money

http://money.visualcapitalist.com/infographic-the-properties-of-money/

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So what is digital money?

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Previous Payment Schemes

  • Credit cards
  • PayPal
  • Other?

So what don't these give us?

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DigiCash

  • Blinded signatures

–anonymity

  • Central clearinghouse

–double-spending

  • Bankrupt in 1998
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Why did DigiCash fail?

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Bitcoin

  • No central authority
  • Relies on proof-of-work
  • Developed concept of the blockchain
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Problems with Bitcoin

  • Limited functionality
  • Slow
  • "Useless" computation
  • Mining pools
  • ASICs
  • Selfish mining attacks
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Alternate consensus modes

  • Useful proof-of-work
  • Non-outsourceable PoW puzzles
  • Proof-of-stake

– Coin age – Staked tokens

  • Proof-of-space
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Ethereum

  • Smart contracts for

building distributed applications (dApps).

  • "Gas" to pay for computation.
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Other protocols

  • Dfinity, Algorand, Thunderella

–High performance blockchains

  • Filecoin

–Blockchain-based storage system

  • Tezos

–Dynamically updateable blockchain

  • Others TBD
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So why take this course?

We will learn:

  • Different cryptocurrency protocols
  • Uses of the blockchain

We will go deep – the focus is to learn the fundamentals, maybe not the flavor of the day

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Administrative Details

  • Green sheet:

http://www.cs.sjsu.edu/~austin/cs168- fall20/Greensheet.html.

  • Homework submitted through Canvas:

https://sjsu.instructure.com/

  • Academic integrity policy:

http://info.sjsu.edu/static/catalog/integrity.html

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Schedule

  • The class schedule is available through Canvas
  • Late homework will not be accepted
  • It will change frequently
  • CHECK THE SCHEDULE BEFORE EVERY

CLASS

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Prerequisites

  • CS 166 or equivalent,

grade C- or better

  • Show me proof

–If you don't, I will drop you.

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Resources Other references TBD. Andreas M. Antonopoulos "Mastering Bitcoin", 2nd ed.

  • Arvind Narayanan, Joseph Bonneau,

Edward Felten, Andrew Miller, Steven Goldfeder, "Bitcoin and Cryptocurrency Technologies", (free, pre-pub version).

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Grading (COVID-19)

  • 40% -- Homework assignments

(individual work)

  • 40% -- Class project (team work)
  • 10% -- Labs
  • 10% -- Readings
  • No midterm or final
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Participation: Labs

  • No feedback given (usually)
  • I will look at them
  • If you have questions, ask me
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Homework

  • Done individually.
  • You may discuss the assignment

with others.

  • Do your own work!
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How to fail yourself and your friend

If two of you turn in similar assignments:

you both get a 0

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Project

  • Build your own blockchain-based

cryptocurrency

  • You may work with up to 3 people
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Office hours

  • MacQuarrie Hall room 216
  • Mondays, 1-2pm
  • Thursdays, 10-11am
  • Also by appointment
  • Rescheduled office hours

– Announced on Canvas – Also added to http://www.cs.sjsu.edu/~austin/cs166b- fall20/office-hours-updates.txt

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COVID-19 Changes

  • Problems will come up
  • We will adjust as we go
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Zoom dress code

  • Sweats, pajamas, etc. are OK.
  • Wear a shirt.
  • If you would get arrested in

public, it is not appropriate for Zoom.

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"Please forgive the long letter; I didn’t have time to write a short one."

  • -Blaise Pascal
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Two Kinds of Email

  • Emails with lots of detailed

information and subtle nuances.

  • Emails that people read.

Try to send the 2nd kind

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Before next class

  • Install Node.js from https://nodejs.org/en/
  • Read Section 1 of Okamoto and Ohta's

"Universal Electronic Cash". https://link.springer.com/content/pdf/10.1 007/3-540-46766-1_27.pdf