Blockchain Decoded
Understanding blockchain technology, cryptocurrencies, and their impact on the future of finance
10 EPISODES
Introduction to Blockchain Technology (Short Intro)
A brief overview of blockchain technology: what it is, why it matters, and its transformative potential. Set expectations for the course and highlight the importance of understanding its historical development.
The Origins of Blockchain: Cryptography and Digital Cash
Explore the foundational concepts of cryptography, public/private keys, and hash functions. Trace the journey from early attempts at digital cash (e.g., DigiCash, Hashcash) to Bitcoin’s creation in 2008. Introduce Satoshi Nakamoto and the Bitcoin whitepaper as the origin of modern blockchain.
How Blockchain Works: The Ledger and Consensus
Explain what a blockchain is: a decentralized ledger of transactions. Introduce key terms: blocks, chains, nodes, and consensus mechanisms. Highlight Bitcoin’s Proof of Work (PoW) as the first consensus algorithm.
Ethereum and the Rise of Smart Contracts
Transition to Ethereum, the second-generation blockchain, and its introduction of smart contracts. Explain how smart contracts expanded blockchain’s use cases beyond digital currency. Discuss the role of Vitalik Buterin in shaping Ethereum’s vision.
Blockchain’s Key Features: Decentralization, Transparency, and Security
Dive deeper into the technical pillars that make blockchain unique: decentralization, immutability, and trustlessness. Explain the role of distributed nodes and cryptographic security.
Evolution of Consensus Mechanisms
Explore the evolution of consensus algorithms from PoW to Proof of Stake (PoS) and other variations like Delegated Proof of Stake (DPoS) and Practical Byzantine Fault Tolerance (PBFT). Discuss Ethereum’s transition to PoS (Ethereum 2.0) as a pivotal moment.
Scalability and Layer 2 Solutions
Address the scalability challenges of blockchains (e.g., Bitcoin and Ethereum). Introduce Layer 2 solutions like Lightning Network, rollups, and sidechains as ways to improve transaction speed and cost.
Decentralized Finance (DeFi)
Explain how DeFi emerged as a significant application of blockchain. Discuss decentralized exchanges, lending protocols, and stablecoins. Highlight the advantages and risks of the DeFi ecosystem.
Non-Fungible Tokens (NFTs) and Digital Ownership
Explore the rise of NFTs and how they enable digital ownership of assets. Discuss real-world applications of NFTs in art, gaming, and beyond. Reflect on the cultural and economic impact of NFTs.
Limitations, Challenges, and Criticisms of Blockchain
Examine common criticisms: energy consumption, scalability issues, regulatory concerns, and centralization risks. Discuss potential solutions and ongoing developments to address these challenges.