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5. Blockchain Basics & Transactions, UTXO and Script Code



MIT 15.S12 Blockchain and Money, Fall 2018
Instructor: Prof. Gary Gensler
View the complete course: https://ocw.mit.edu/15-S12F18
YouTube Playlist: https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn

This session covers design featues of blockchain, like hash functions, append-only timestamped logs, and proof-of-work. The professor also covers unspent transcation output (UTXO).

License: Creative Commons BY-NC-SA
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Giới thiệuThúy Navi

Thúy Navi 26 tuổi đam mê du lịch, công nghệ,đang sống và làm việc tại Hà Nội. Founder,Blogger tại Website: http://www.internetviettelnhatrang.com/

48 Bình luận

  1. One would surmise that during the conversion from text to hash the 'mechanism' of conversion makes the hash useless. My understanding is the conversion is similar to compiling a program. If you have the 'mechanism' of the compiler, you automatically know the character of the machine language coming out on the other end.

  2. 1:02:00 The whole consensus mechanism reminds me of notary offices. Nodes are working like a network of notary offices notarizing copies of documents and getting a fee (bitcoin and later what?) for the work done. Then they are collectively bookkeeping the record of the all notarized documents (transactions and balances?) to date. They are in a sense vouching that the transaction indeek took place.

    Who is then managing the balance in each wallet/private address? The bitcoin script itself? It should be referring to the block number where a certain account/wallet has last been updated for balance to read the (most recent) balance from the record, not necessarily always but whenever a new transaction is going to take place.

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