Fundamentals of Bitcoin and Cryptocurrency
Most cryptocurrencies – including Bitcoin — use blockchain technology to record transactions.
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.
A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger. The decentralized database managed by multiple participants is known as Distributed Ledger Technology (DLT).
There have been attempts to create cryptocurrencies in the past. But many have failed due to trust issues. Bitcoin was designed to solve this problem by using a specific type of database — a blockchain.
Bitcoin is actually software. It’s a purely digital phenomenon, a set of protocols and processes. Bitcoin is the most successful of hundreds of attempts to create virtual money through the use of cryptography, the science of making and breaking codes.
Bitcoin has inspired hundreds of imitators, but it remains the largest cryptocurrency by market capitalization, a distinction it has held throughout its decade-plus history.
More than 2,300 US businesses accept bitcoin, according to one estimate from late 2020, and that doesn’t include bitcoin ATMs. An increasing number of companies worldwide are using bitcoin and other digital assets for a host of investment, operational, and transactional purposes.
The use of cryptocurrency for conducting business presents a host of opportunities and challenges. As with any frontier, there are both unknown dangers and strong incentives.
That’s why companies venturing to use cryptocurrency in their businesses should have two things: a clear understanding of why they are undertaking that action and a list of the many questions they should consider.
Tonex can help.
Fundamentals of Bitcoin and Cryptocurrency Course by Tonex
Fundamentals of Bitcoin and Cryptocurrency, a 2-day interactive course, covers the fundamentals of Bitcoin, Cryptocurrency, Blockchain technology and more.
Blockchain is the technology behind the cryptocurrency. Bitcoin is the name of the best-known cryptocurrency. The blockchain technology was invented for Bitcoin, a cryptocurrency as a medium of exchange like US dollar. Bitcoin is in digital form and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds.
A blockchain is a decentralized ledger of all transactions across a peer-to-peer network. Using blockchain technology, participants can confirm transactions without a need for a central clearing authority. Applications can include financial applications, fund transfers, settling trades, voting, and many other issues.
Bitcoin was created by Satoshi Nakamoto. Bitcoin is digital currency that allows for secure peer-to-peer transactions on the internet using decentralized concepts. Bitcoin transactions are tracked on the blockchain similar to a bank’s ledger. Bitcoin blockchain is distributed across the entire network and there are only 21 million bitcoin.
Who Should Attend
Fundamentals of Bitcoin and Cryptocurrency course is designed for engineers, managers, and employees with little or no BItcoin, cryptocurrency or blockchain experience. The course is also useful for those who have experience with cryptocurrency or blockchain but have never had any formal training on Bitcoin.
What You Will Learn
- An overview of Blockchain
- A summary of Blockchain tools and applications
- Overview of cryptocurrency
- How to implement cryptocurrency
- An overview of Bitcoin and its ecosystem
Fundamentals of Blockchain, Cryptocurrency and Bitcoin
- What is Blockchain technology?
- Blockchain’s benefits
- How Blockchain works
- Blockchain building blocks
- How financial services can create trust in blockchain
- What is Cryptocurrency?
- Introduction to Crypto and Cryptocurrencies
- Hash Functions
- Digital Signature
- Smart Contracts
- Digital Currencies
- How secure is Bitcoin?
- How does Bitcoin (BTC) work?
- What makes Bitcoin different?
- Bitcoin as digital money
Overview of Bitcoin Building Blocks
- Bitcoin Basics
- Difference between Bitcoin and Blockchain
- How to use Bitcoin
- How to get Bitcoin
- Bitcoin mining
- How to buy Bitcoin
- The principles behind Bitcoin
- How Bitcoin works
- Bitcoins and Blocks
- Bitcoin Economy
- Bitcoin Exchanges
- Mining Hardware
- Mining Pools
- Security and Centralization
- Bitcoin Open-Source Software
- Bitcoin Decentralized Network
- Bitcoin Addresses and Keys
- Bitcoin and Decentralization
- Bitcoin protocol
- Transactions, script, blocks
- Peer-to-peer network
- Storing Bitcoins
- Hot and Cold Storage
- Splitting and Sharing Keys
- Online Wallets
- Payment Service and Transactions
Other Blockchain Applications
- Business and functional requirements
- Enterprise Blockchain Overview
- Enterprise Blockchain for Grid Modernization
- Enterprise Blockchain for Supply Chain
- Enterprise Blockchain for Internet of Things
- Enterprise Blockchain for Healthcare
- Enterprise Blockchain for the Internet of Things
Fundamentals of Bitcoin and Cryptocurrency