Understanding Blockchain Technology: The Bitcoin Case Study
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. This course focuses on Bitcoin as a case study of how blockchain technology works, and provides a brief history of the creation of Bitcoin. It also defines basic blockchain-related features and concepts, and reviews the way features behave in an economic environment and how they balance the incentives of the participants.
What you will learn:
- Describe the unique features of Bitcoin
- Identify the participants in the Bitcoin network and define the role of each participant in creating, validating, and securing new Bitcoin transactions
- Explain how ownership is stored and verified on the Bitcoin blockchain
- Explain how transactions are validated in Bitcoin
- Explain the steps in Bitcoin’s proof of work mining algorithm
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 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.
Production Year: 2018