Blockchain Networks Token Design and Management
A blockchain is a special kind of distributed database.
A distributed works well when all entities trust each other and do not want to keep duplicate records of the same data. Blockchain however, comes into play when the entities cannot trust each other, that is, there is no single entity in control and we need a magical database that is: distributed and decentralized.
Blocks contain transactional data and they can be thought of as a page of a ledger. Each block also contains a timestamp and a hashed link to a previous block, creating a chain of blocks. By design, blockchains are resistant to modification of data; once a new entry has been recorded, the data in that block cannot be altered retroactively.
Moreover, older blocks cannot be altered without breaking the chain to every block that is recorded afterward. If an attacker would attempt to modify a block, he would have to change all blocks that happened afterward to the most recent block. This attack is very difficult to achieve.
Blockchain technology has enabled a new software paradigm for managing digital ownership in shaky trust environments.
Blockchain Benefits to Organizations
Digital assets are not a new thing, but cryptographic tokens on the blockchain have lower issuance and management costs involved. They can be easily issued and securely traded on a blockchain, without an intermediary or escrow service. Whereas state-of-the-art digital assets are controlled by centralized entities, they can now be issued with a few lines of code, and managed by a public and verifiable infrastructure like a blockchain.
Tokens can provide more transparency along marketplaces than with existing financial systems. This could significantly reduce fraud or corruption along the supply chain of goods, services and financial transactions.
Tokens also have the potential of reducing transaction costs of developing, managing, and trading of cryptographic assets along distributed ledgers, than managing assets along state-of-the-art systems. This could lower barriers to create efficient marketplaces for products and services that are not currently tokenized, like art or real estate.
The effects are increased liquidity, lower costs of price discovery, and less fragmented markets for such products and services. This may result in completely new use cases, business models, and asset types that were not economically feasible before, and potentially enable completely new value creation models.
Blockchain Networks Token Design and Management Course by Tonex
Blockchain Networks Token Design and Management is a 2-day training program covering advanced blockchain management.
Blockchain Networks Token Design and Management training course is aligned with NISTIR 8301 that covers Blockchain Networks: Token Design and Management Overview. This course provides a high-level technical overview and conceptual framework of token designs and management methods. The course is design and built around NIST five views: the token view, wallet view, transaction view, user interface view, and protocol view.
Learn how o lower the barriers to study, prototype, and integrate token-related standards and protocols by helping readers understand the building blocks involved both on-chain and off-chain.
Blockchain technology is a distributed and decentralised ledger system and it can record transactions between multiple parties (B2B or B2C).
Blockchain technology was designed to be transparent and it does not offers privacy or confidentiality for the transactions made through it. It will describe the integrity of the transactions, not its privacy or confidentiality.
Blockchain technology uses tokens to conduct transactions, exchange verifiable data, and achieve coordination across organizations and on the web. Blockchain has enabled a new software paradigm for managing digital ownership in partial- or zero-trust environments.
B2C or B2B users can independently control token custody in digital wallets through public-key cryptography and interact with one another in a peer-to-peer manner.
Learn about Blockchain networks and the rational on how it provides secure transaction reconciliation, linkage, and storage in consolidated, integrity-protected distributed ledgers forming mutually operated record-keeping execution environments.
Who Should Attend
This course is designed for engineers, software design engineers, programmers, analysts, managers, and employees with little or no blockchain experience. The course is also useful for those who have experience with blockchain but have never had any formal training on the standard.
What You Will Learn
- Token definitions and management data models and protocols
- Security and recovery mechanisms for self-hosted, externally hosted, and hybrid account custody models
- Transactions off-chain with deferred on-chain settlement
- Deposit contracts with built-in, self-enforceable conditions to exchange tokens without intermediaries
- Transaction submission rules to fit in with different deployment scenarios
- Privacy-enhancing techniques to protect user confidentiality
- Software design patterns and infrastructure tools
- How to integrate tools with blockchain networks, wallets, and external resources in user interfaces.
Course Modules/Agenda
Introduction To Blockchain
- Background and History
- Blockchain Categorization
- Blockchain Limitations and Misconceptions
- Permissionless and Permissioned
Blockchain Components
- Cryptographic Hash Functions
- Cryptographic Nonce
- Transactions
- Asymmetric-Key Cryptography
- Addresses and Address Derivation
- Private Key Storage
- Ledgers
- Blocks
- Chaining Blocks
- Proof of Work Consensus Model
- Proof of Stake Consensus Model
- Round Robin Consensus Model
- Proof of Authority/Proof of Identity Consensus Model
- Proof of Elapsed Time Consensus Model
- Ledger Conflicts and Resolutions
- Forking
- Soft Forks vs. Hard Forks
- Cryptographic Changes and Forks
- Smart Contracts
- Cybersecurity
- Inadequate Block Publishing Rewards
- Public Key Infrastructure and Identity
Overview of Blockchain Tokens
- Token Categorization
- Blockchain-Based Tokens
- Token Data Models
- Protocol Management
- Account-Level Operations
- Self-Contained Tokens
Wallet and Key Management
- Self-Hosted Wallets
- Custodial Wallets
- Account Origination and Recovery
- Smart Contract Vaults
Transaction Management
- Transaction Validation
- Off-Chain Scaling
- Token Exchange
- Blockchain Bridging
- Transaction Submission
- Meta Transactions
- Smart Contract-Based Access Control
- Blockchain Node Permissioning
- Transaction Viewability
- Monitoring and Analysis Tools
- Privacy-Enhancing Techniques
- Off-Chain Privacy
Infrastructure Management
- Blockchain Networks Integration
- Base Layer
- Second Layer
- Application-Interface Layer
- Wallet Integration
- User Account Data Integration
- External Data Feeds Integration
- Architectural Considerations
Deployment Scenarios and Use Cases
- Decentralizing Protocol Governance
- Tokenizing Money and Financial Products
- Stablecoins
- Lending and Borrowing
- Fundraising and Derivatives
- Tokenizing Uniquely Identifiable Things and Supply Chains
- Towards Privacy-Preserving Verifiable Data Exchange
Blockchain Networks Token Design and Management