Chapter
Understanding Blockchain Consensus Mechanisms
30:15 - 41:44 (11:28)
The consensus mechanism in blockchain is designed to ensure that all copies of the database are in sync with each other. The mechanism is like a voting system in which every block created is voted on by multiple nodes to determine the true state of the database.
Clips
The goal of a distributed system is to wire together a large number of computers to appear as a single computer to the outside world, even if a large portion of them break.
30:15 - 36:18 (06:02)
Summary
The goal of a distributed system is to wire together a large number of computers to appear as a single computer to the outside world, even if a large portion of them break. Leslie analyzes different cases of messaging and explains that a decentralized computer network consists of 15 specific computers.
ChapterUnderstanding Blockchain Consensus Mechanisms
Episode#80 – Vitalik Buterin: Ethereum, Cryptocurrency, and the Future of Money
PodcastLex Fridman Podcast
The blockchain is a decentralized system that is created when "blocks" are added to a public ledger.
36:18 - 41:44 (05:26)
Summary
The blockchain is a decentralized system that is created when "blocks" are added to a public ledger. These blocks are created and verified through cryptography and once added, they become a permanent and unalterable record of all transactions between parties.