Live support chatBlockchain and Cryptocurrency Fundamentals - Part 3: Transactions and Digital Signatures (Video On Demand)
Credit: 2 PDH
Subject Matter Expert: Dana DeMeo, P.E.
In Blockchain and Cryptocurrency Fundamentals - Part 2: Blockchain, POW, and Mining (Video On Demand), you'll learn ...
- Bitcoin transaction format and operation
- Unspent Transaction Output (UTXO) purpose and function
- Digital signature purpose and detailed mathematical operation
Overview
Preview a portion of the video before you purchase it.
Credit: 2 PDH
This is the third course in a series that explains the fundamentals of blockchain technology and cryptocurrency applications. Most of us have heard about blockchain, yet very few have invested the time to really understand what’s happening under the hood.
Engineers from all disciplines will satisfy their curiosity by learning how this amazing new technology actually works! The course is designed for a broad engineering audience beyond computer scientists and programmers. If you’re looking to earn PDHs about a refreshing, modern and different subject, this course is for you.
This course continues with a deep dive into Bitcoin’s blockchain operation. These learnings easily extend to most other blockchain technologies in the market. The majority of what we’ve covered so far is all about the ecosystem that allows for a distributed database. Now we will cover what information is contained with the data section of the Bitcoin’s block. This is where transactions are stored. Discussing transactions will also lead into digital signatures, ledger management and cryptocurrency wallets.
Account-based and transaction-based ledgers are explained with animated examples. This leads into a discussion about the requirements for a financial transaction and how Bitcoin and other cryptocurrencies wallets create transactions. The details about transaction inputs and outputs are described, along with the Unspent Transaction Output (UTXO) database. This leads to an explanation of the entire end-to-end process of paying someone, or getting paid by someone on a blockchain.
Coinbase transactions are next described in detail. These are special transactions created only by miners to mint new money and begin the transaction history in a block. The fees miners are paid are also discussed.
Digital signatures are used by nearly all blockchains to prove ownership of a transaction, which ultimately proves who owns what on a blockchain. Digital signatures rely upon complex mathematical cryptographic proofs that are described using mostly graphical animations for simplicity.
Building upon transactions and digital signatures, one of the most common Bitcoin transaction types is described: Pay-to-Public-Key-Hash (P2PKH).
When this course is completed, an engineer of any background will be ready to learn the technical details of what happens under the hood of blockchain systems and will be better prepared to become personally involved with cryptocurrencies.
Specific Knowledge or Skill Obtained
This course teaches the following specific knowledge and skills:
- Different types of financial ledger systems
- How wallets create transactions when making payments
- Coinbase transaction purpose, format and function
- Detailed understanding of Bitcoin’s Pay-to-Public-Key-Hash (P2PKH) format
Video on Demand
This course is a recorded version of a live lecture and will be streamed directly to your computer's media player. Our format is generally compatible with media players included with all computers and mobile devices. After watching the video presentation, you will return to your account to take the online quiz. While this is a recording of a live presentation, please note that this recording will not qualify as a "live" or "interactive" continuing education activity in those jurisdictions where it is required.
Certificate of Completion
You will be able to immediately print a certificate of completion after passing a multiple-choice quiz consisting of 10 questions. PDH credits are not awarded until the course is completed and quiz is passed.
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Preview a portion of the video before you purchase it.
Credit: 2 PDH
