Blockchain & Bitcoin Masterclass

An in-depth look at blockchain fundamentals using Bitcoin as the primary example

What you'll learn

Why the blockchain is important

Blockchain operation and terminology with a focus on Bitcoin

Basic understanding of money, fiat currency, ledgers and transactions

Mining algorithms, how mining pools & rigs operate, and how they earn money

Requirements

Some familiarity with basic computing concepts

Description

Section 1: Introduction, Ecosystem & HashBasic understanding of money, fiat currency, ledgers and transactionsDetailed understanding of hash functions, their applications and benefitsExposure to blockchain operation and terminology with a focus on BitcoinIntroduction to popular terms involved with blockchain and cryptocurrency applicationsBrief history of the internet’s technology evolutions, and why blockchain is advancing todayLearning the numerous potential applications for blockchain along with risks & benefitsSection 2: Blockchain, Proof of Work & MiningDetailed understanding Bitcoin’s block data structure and purpose (can be expanded to most blockchains)Learning why the blockchain is immutable and tamper-proof via block hashesUnderstanding the purpose and function of Merkle roots and how they are used in the blockchainExposure to technical blockchain terminology with a focus on BitcoinSolutions to the trust-less consensus and double-spend problems using Nakamoto ConsensusThe validation rules used by Bitcoin to ensure a stable and secure networkConsensus forks and how Bitcoin deals with network conflicts globallyMining algorithms and how mining pools and rigs operate on the inside, and how they earn moneyTrade-offs between various types of mining hardwareSection 3: Transactions & Digital SignaturesDifferent types of financial ledger systemsBitcoin transaction format & operationUnspent Transaction Output (UTXO) purpose & functionHow wallets create transactions when making paymentsCoinbase transaction purpose, format and functionDigital signature purpose & detailed mathematical operationDetailed understanding of Bitcoin’s Pay-to-Public-Key-Hash (P2PKH) formatSection 4: Wallets, Exchanges, Fees & Block RewardsPurpose and function of a cryptocurrency walletDifferent types of wallets, including hot, cold and SPVThe most common standards that dictate all the modern wallets used todayPrivate and public key generationPurpose and function of a cryptocurrency centralized exchangeMerkle proofs and their benefitsBloom filters and how they add some security to the wallet operationBlock rewards & feesMempool creation and managementFee volatility and network risksTechniques that could exploit a fee-dominant network, such as undercutting, selfish mining and petty complianceSection 5: Bitcoin Core, Blockchain Explorer & ForksBitcoin core software functionality and operationOperation of the major transaction types (P2PKH, P2MS, P2SH)Navigating cryptocurrency blockchain explorersHard and soft fork, their causes and impactsSection 6: Bitcoin AdvancementsTransaction malleability – what does it mean, why it’s bad, and how to fix itSegregated Witness – what does it mean and how was this innovative technique implemented in BitcoinBech32 Bitcoin addresses – how they are calculated and why they are importantThe concept of layer 2 solutions built on-top of layer 1 blockchains, the meaning of “on-chain” vs “off-chain”, along with the reasons and benefits for implementing a layer 2Payment channel fundamentals including funding, commitment, revocation, punishment and settlement transactionsLightning Network protocols including Onion Routing and Hash Time Locked Contracts (HTLCs)How Bitcoin’s Pay-to-Script-Hash transaction types enable the layer 2 and Lightning, via smart contract code

Overview

Section 1: Introduction, Ecosystem & Hash

Lecture 1 Introduction

Lecture 2 Blockchain Ecosystem & Hash Functions

Section 2: Blockchain, Proof of Work & Mining

Lecture 3 Fundamentals of the Blockchain

Lecture 4 Mining

Section 3: Transactions & Digital Signatures

Lecture 5 Transactions

Lecture 6 Digital Signatures

Section 4: Wallets, Exchanges, Fees & Block Rewards

Lecture 7 Wallets & Exchanges

Lecture 8 Block Fees & Rewards

Section 5: Bitcoin Core, Blockchain Explorer & Forks

Lecture 9 Bitcoin Core & Navigating a Blockchain Explorer

Lecture 10 Blockchain Forks

Section 6: Bitcoin Advancements

Lecture 11 Segregated Witness

Lecture 12 Lightning Networks

Anybody who wants to learn how blockchains and cryptocurrencies operate at a deeper technical level,Any Blockchain, Bitcoin or cryptocurrency enthusiast