Blockchains & Ethereum: Mining & Smart Contracts in Ethereum

Blockchain    |    Beginner
  • 10 videos | 1h 14m 3s
  • Includes Assessment
  • Earns a Badge
Rating 4.5 of 36 users Rating 4.5 of 36 users (36)
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.

WHAT YOU WILL LEARN

  • 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

IN THIS COURSE

  • 2m 42s
  • 4m 23s
    Upon completion of this video, you will be able to describe the role of miners in picking up initiated transactions, ordering and verifying them. FREE ACCESS
  • Locked
    3.  Consensus by Proof of Work
    10m 1s
    Learn how to outline the proof of work algorithm and the work which miners need to do to claim mining rewards. FREE ACCESS
  • Locked
    4.  Finding the Proof of Work Nonce
    9m 28s
    After completing this video, you will be able to recognize the difficulty in finding the proof of work nonce and why it can only be found by trial and error. FREE ACCESS
  • Locked
    5.  Claiming the Mining Rewards
    5m 35s
    After completing this video, you will be able to recall when a miner can claim mining rewards and how the other nodes in the Ethereum network validate its claim. FREE ACCESS
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    6.  Beyond Proof of Work
    6m 38s
    In this video, you will identify the flaws in the proof of work algorithm and how the proof of stake algorithm can address them. FREE ACCESS
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    7.  Smart Contracts
    6m 55s
    After completing this video, you will be able to describe the need for smart contracts to eliminate the need for a trusted third party in many transactions. FREE ACCESS
  • Locked
    8.  The Solidity Programming Language
    9m 39s
    After completing this video, you will be able to list the features of the Solidity programming language. FREE ACCESS
  • Locked
    9.  Gas - the Measure of Complexity of Transactions
    9m 43s
    In this video, find out how to outline the concept of gas in Ethereum and the role of the gas price and gas limit fields in a transaction. FREE ACCESS
  • Locked
    10.  Exercise: Mining and Smart Contracts
    8m 59s
    Upon completion of this video, you will be able to recall the steps involved in the proof of work algorithm and identify the flaws in this technique. You will also be able to identify the functions of smart contracts. FREE ACCESS

EARN A DIGITAL BADGE WHEN YOU COMPLETE THIS COURSE

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