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

Discover the process of mining and the proof-of-work consensus algorithm in Ethereum, and explore smart contracts and the Solidity programming language which can be used to define them.



Expected Duration (hours)
1.2

Lesson Objectives

Blockchains & Ethereum: Mining and Smart Contracts in Ethereum

  • 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