Fundamentals of Blockchain Technology

Question 1

Smart Contracts

Answer 1

• Nick Szabo, a legal scholar and cryptographer in 1994 realised that Decentralised Ledgers could be used for smart contracts
• Automatically executes when specific conditions are met

Question 2

Consensus Mechanisms

Answer 2

Proof of work
Proof of stake
Delegated Proof of stake
Proof of Importance
Practical Byzantine Fault Tolerance
Delegated Byzantine Fault Tolerance