Database and distributed computing foundations of blockchains

Abstract

The uprise of Bitcoin and other peer-to-peer cryptocurrencies has opened many interesting and challenging problems in cryptography, distributed systems, and databases. The main underlying data structure is blockchain, a scalable fully replicated structure that is shared among all participants and guarantees a consistent view of all user transactions by all participants in the system. In this tutorial, we discuss the basic protocols used in blockchain, and elaborate on its main advantages and limitations. To overcome these limitations, we provide the necessary distributed systems background in managing large scale fully replicated ledgers, using Byzantine Agreement protocols to solve the consensus problem. Finally, we expound on some of the most recent proposals to design scalable and efficient blockchains in both permissionless and permissioned settings. The focus of the tutorial is on the distributed systems and database aspects of the recent innovations in blockchains.