Class 3

Decentralized P2P Networking and Gossip Protocols

Yes, [we won'tfind a solution to political problems in cryptography] but we can win a major battle in the arms race and gain a new territory of freedom for several years.
Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.
- Satoshi Nakamoto

The decentralized nature of Bitcoin means that no one single entity has control over all the processing.

Bitcoin processing is distributed amongst the Bitcoin miners.

No one central bank that can stop a transaction. Since each miner performs the same processing on the same data and since they are distributed, the Bitcoin network is by nature resilient to attacks.

For example, in the diagram below we see that an attacker only needs to target the one, central node to take down the entire network. The decentralized model is better, but the most robust network design is distributed:

In this class, we'll study the designs of several peer to peer networks and implement our own using a gossip protocol.

When your registration has been confirmed, you will receive a zip file containing the course outline (AGENDA) with reference links and PDFs organized by class.

Copyright: Cryptocurrencies Developers Class. Do not copy without permission.