• Blockchain basics

    • Concept of maintaining a shared, public, immutable ledger

    • Bitcoin: blocks, chain, consensus, transactions

    • Smart contracts: Bitcoin pay-to-script, Ethereum

  • Decentralized Finance

    • Exchanges

      • Precedent: centralized/trusted exchanges

      • Automated Market Makers, e.g., Uniswap

        • Constant product formula

        • Pricing function

        • Infinite liquidity

    • Oracles

      • Review: the need for oracles, centralized oracles

      • Decentralized oracles: e.g., ChainLink

  • DAOs

    • Goal: fully on-chain organizations

      • Purposes: many in principle

        • DAO example: community investment

      • On-chain funding

        • Often: anyone can join, contribute

      • On-chain governance

        • Proposals, voting (see E-voting next week)

      • Issue: software bugs (see DAO)

      • Issue: centralization of control, takeovers

      • Issue: controlled evolution: upgrades?

    • next time: explain better how The DAO actually worked

      • E.g., how users put funding in, propose, vote, etc.


Last modified: Thursday, 27 October 2022, 16:12