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Blockchain 101

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Blockchain 101

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At its core, a blockchain is a method of storing and transferring information. It can be considered a kind of database, albeit one that differs from traditional databases. Information on a blockchain is stored in a continuous chain of blocks with each block containing essential information (for example, transactions) and the cryptographic hash of the previous block. To change the information in any block, you have to make changes to all subsequent blocks.

A blockchain is also a distributed database, which means it isn’t stored on any single computer. Instead, many identical copies of it are stored on a network of different computers called nodes. The content of the blocks is verified by the consensus of all nodes in the network. This makes it very difficult to alter any information already included in the blocks, and this difficulty increases with the number of nodes in the network.

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SKU: BC-4345 Category:

Description

What is Bitcoin

  • Updated Bitcoin history
  • More user stories and updates
  • More examples of bitcoin uses and clients
  • Updated guide on how to get, use, spend bitcoin

 

Bitcoin Core

  • Improved and updated examples and code
  • Configuration options and examples
  • Running a bitcoin node
  • Updated libraries

 

Keys and Addresses

  • Many small improvements
  • Improved and new diagrams

 

Wallet

  • BIP39 Mnemonic Code Words
  • BIP39 Passphrases and use-cases
  • Using public extended keys on an e-commerce
  • Improved and new diagrams

 

Transactions

  • Transaction Structure
  • More detail on inputs and outputs
  • Transaction serialization/deserialization
  • Transaction Fees

 

Advanced Transactions

  • Time Locks
  • UTXO/Script level absolute
  • Input level relative
  • Median Time Past
  • Timelock defense against fee sniping

The Bitcoin Network

  • Relay networks
  • SPV node improvements
  • Bloom filters and SPV
  • SPV nodes and privacy
  • Encrypted and Authenticated

 

The Blockchain

  • Merkle trees and SPV
  • Test blockchains
  • Testnet
  • Using testnet
  • Segnet
  • Regtest

 

Mining and Consensus

  • Hard forks, soft forks and signaling
  • Diverging hard forks
  • Soft forks for feature upgrades
  • Signaling soft forks with block version

 

Blockchain Applications

  • Blockchain application
  • Building blocks of the trust platform
  • Constructing blockchain applications
  • Colored Coins
  • Counterparty
  • Payment channels
  • Video streaming example
  • Timelock payment channels
  • Asymmetric revocable commitments
  • Hash Time Locked Contracts
  • Lightning Network
  • Routed payment channels
  • Transport and Onion routing
 
 
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Additional information

Course Duration

3 Day

Lab Count

18 Labs

Location

Remotely

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