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Blockchain and Cryptocurrency: What You Need to Know (originally recorded in 2019) 1. Use a blockchain for the right applications. A blockchain is a good tool when there is a need for: public verifiability of all transactions, and centralized data management is unacceptable (no single party is trusted to provide persistence and liveness) 2. Data is not "on" the blockchain. Blockchain is most often used to authenticate data: data on the blockchain is a short hash of actual data. Given document, anyone can verify authenticity by looking for the correct hash. 3. Scaling the blockchain. Low transaction rate on main blockchains. Example: At CryptoKitties launch, Transaction rate exceed Ethereum throughput To follow along with course syllabus, visit: https://bit.ly/crypto-syllabus We now offer a brand-new course on Cryptocurrencies and Blockchain Technologies by Dan Boneh. To learn more, visit: https://stanford.io/3mjnxMO For more information about Stanford's Advanced Cybersecurity and Blockchain professional and graduate programs visit: https://stanford.io/39658jV Dan Boneh Professor of Computer Science and Electrical Engineering, Stanford University Joseph A. Grundfest W. A. Franke Professor of Law and Business, Stanford University Senior Faculty, Rock Center for Corporate Governance
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