Understanding Blockchain Technology: The Costs and Benefits of Decentralization

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Blockchain technology holds immense promise for a variety of industries, including financial services, real estate, supply chain management, health care, academia and more. From smart contracts to blockchain-encrypted academic credentials, these use cases are vast and far-reaching. To make sense of this revolution, you need to understand what a blockchain is and what it is capable of doing. In this course, we'll consider the technical limitations of blockchain and some supplementary technologies that are in development to support the execution of smart contracts on the  blockchain, and consider the costs of using a blockchain and a framework for calculating the costs and benefits for working with blockchain.

What you will learn:

  • Explain the difference between a public and a permissioned ledger and recall the major innovators who are building each
  • Describe strategies for enhancing the privacy options on a blockchain
  • Describe decentralized storage schemes and why they are necessary
  • Describe strategies for reducing the energy costs of running a blockchain

This course is part of the following course program:

Introduction to Blockchain Technology

Courses included in this program:

Who should attend: Electrical engineer, Design engineer, Systems engineer, Product engineer, Computer engineer, software, Lead engineer, Project engineer, QA/quality engineer, DevOps engineer, AI/ML engineer, Data engineer, Security engineer

Morgen Peck Photo
Morgen Peck
Morgen Peck is a freelance technology journalist with 7 years experience covering Bitcoin and the blockchain technologies for IEEE Spectrum Magazine, Wired, Scientific American, American Banker and others. She served as contributing editor for an October 2017 special issue of IEEE Spectrum Magazine about blockchain technology. Morgen received her MA in neuroscience from Columbia University and a Masters in Science Writing from NYU’s Science Health and Environmental Reporting Program.

Publication Year: 2018

ISBN: 978-1-5386-0039-9

Understanding Blockchain Technology: The Costs and Benefits of Decentralization
  • Course Provider: Educational Activities
  • Course Number: EDP522
  • Duration (Hours): 1
  • Credits: 0.1 CEU/ 1 PDH