Course details

Blockchains & Ethereum: Mining and Smart Contracts in Ethereum

Blockchains & Ethereum: Mining and Smart Contracts in Ethereum


Overview/Description
Expected Duration
Lesson Objectives
Course Number
Expertise Level



Overview/Description

Just how do data miners pick up initiated transactions, order them, and verify them using Blockchain? Learn more about the work data miners do—and the very competitive races they run against each other—in this 8-video course, which begins by outlining the useful proof-of-work algorithm in Ethereum—as well as its hidden flaws. The course explains in detail how miners go about competing for and claiming mining rewards. As you progress, you will gain significant insights into the complex trial-and-error tasks facing miners and learn how hidden flaws in the process can then be addressed by the proof-of-stake algorithm. Learn to appreciate the functions and worth of smart contracts that eliminate the need for a trusted third party in many transactions. Finally, familiarize yourself with the important features of Solidity programing language, and begin to understand the important roles played by gas price and gas fields in any Ethereum transaction.



Expected Duration (hours)
1.2

Lesson Objectives

Blockchains & Ethereum: Mining and Smart Contracts in Ethereum

  • Course Overview
  • describe the role of miners in picking up initiated transactions and then ordering and verifying them
  • outline the proof of work algorithm and the work which miners need to do to claim mining rewards
  • recognize the difficulty in finding the proof of work nonce and why it can only be found by trial and error
  • recall when a miner can claim mining rewards and how the other nodes in the Ethereum network will validate its claim
  • identify the flaws in the proof of work algorithm and how the proof of stake algorithm can address them
  • describe the need for smart contracts to eliminate the need for a trusted third party in many transactions
  • list the features of the Solidity programming language
  • outline the concept of gas in Ethereum and the role of the gas price and gas limit fields in a transaction
  • recall the steps involved in the proof of work algorithm and the flaws in this technique and identify the functions of smart contracts
  • Course Number:
    it_bcinbedj_03_enus

    Expertise Level
    Beginner