SlideShare a Scribd company logo
What we do
Hackathons Accelerators Educate
Invest
Talent AMAs
Our university community
We partner with student clubs and societies at over 75 universities
across six continents.
You will
have heard
of bitcoin
A short recent history
ICO Boom
Defi Summer
Covid boom
De-ambiguating bitcoin
How do
banks
work?
Money is
like a
spreadsheet
A blockchain
is like a
spreadsheet
A spreadsheet
which anyone can
participate in
A spreadsheet with an
incentive layer
This incentive is usually
a token
E.g. Concordium’s
token is the GTU
Let’s think
about blockchain
as a computer
Nodes
Can be thousands
Consensus
Mechanism
Memory
“Blocks”
Processor
“virtual machine”
Architecture of blockchain computers
Concordium uses the
Nakamoto Consensus,
but with proof of stake
Nodes
Can be thousands
Consensus
Mechanism
Memory
“Blocks”
Processor
“virtual machine”
Nodes
Each nodes runs all or part of the code required to make
the system function
Nodes are incentivized to behave honestly, but a
well-designed consensus mechanism enforces the
correct operation of the blockchain computer even if a
significant number of nodes misbehave
Consensus
Mechanism
The rounds of voting are
broken into “blocks” which
are then chained together,
hence the term
“blockchain.”
A well-designed consensus
mechanism gives
mathematically provable
guarantees about
trustworthiness of the
computer as a whole.
Consensus
Consensus mechanism aggregates the “votes” from nodes to determine the
correct operation of the blockchain computer.
The system provides trust guarantees to
anyone using it (since nothing can be
computed without widespread agreement
of the nodes i.e. the consensus mechanism).
A virtual computer that runs on top of a network
of physical computers that provides strong,
auditable, game-theoretic guarantees that the
code it runs will continue to operate as designed.
Technical overview
Layer 3
Client and User Interface
Layer 2
Smart Contracts
Layer 1.5
Compute
Layer 1.0
Consensus
Layer 0
Hardware Networking
Smart
contracts
Changing
business
models
Ethereum
Concordium’s
Smart contracts
Strengths Weaknesses
Early
PCs
Smaller, cheaper
Slow, expensive, user
experience
Early
smartphones
Portables, GPS, camera,
cellular connectivity
Performance, price, inputs
(keyboard)
Early
blockchains
Provable trust guarantees Scalability, user experience
Like all early computers, blockchain
computers have strengths and weaknesses
General purpose
Dec minicomputer
www
iPhone
Apple watch
Ethereum
BENEFIT:
Unlocks third-party developer
creatively
Application specific
Wang word processor
AOL
Blackberry
Fitbit
Bitcoin
BENEFIT:
Optimize full-stack for
specific application
Computers can be general purpose or
application specific
Data
Finance
Identity
Ownership
KILLER APPS
PCs
Word processing, spreadsheet, desktop publishing
Took advantage of price/size to become ubiquitous
Smartphones
Ride hailing, photo sharing
Took advantage of GPS, camera, connectivity, portability
Blockchains
Trust enables new digital primitives:
Digital money, digital goods, smart contracts, DAOs
Killer apps took advantage of strengths:
Weaknesses diminished over time
Visualising a blockchain
Understanding
power
Next event:
Tues 16th Feb
Extra reading
Our online community
all in one place, 24/7.
A place for hackers, academics, students and
enthusiasts to come together.
https://www.encode.club/
anthony@encode.club

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Intro to blockchain - Concordium