Blockchain Scalability and its Foundations in Distributed Systems

Go to Course: https://www.coursera.org/learn/blockchain-scalability

Introduction

### Course Review: Blockchain Scalability and its Foundations in Distributed Systems #### Overview As blockchain technology continues to evolve, the need for scalable solutions has become increasingly paramount. Acknowledging this demand, the course "Blockchain Scalability and its Foundations in Distributed Systems" on Coursera provides a comprehensive examination of how to bolster blockchain systems for efficiency and security at scale. This course is especially relevant for anyone interested in understanding the intricate dynamics of blockchain technology and its potential to disrupt various industries. ### Course Content The course is structured into five key segments, each building on foundational concepts to ultimately address the pressing challenge of scalability in blockchain systems. 1. **Consensus in Blockchain**: This initial module delves into the core principles of blockchain and its connection to distributed computing. A significant focus is placed on the concept of consensus, which is critical for preventing double-spending—a major vulnerability in blockchain technology. This section sets a solid groundwork for understanding the intricacies of secure blockchain operations. 2. **Blockchain Fundamentals**: Building upon the first week, this segment articulates how traditional blockchains manage consensus and the various challenges they face. Participants will explore the typical failures and delays that can obstruct consensus, stressing the importance of resilience in blockchain implementations. 3. **Consensus Fundamentals**: In this module, learners will investigate strategies to resolve consensus issues, especially in environments where failures might occur. The discussions will cover both crash failures and arbitrary behaviors in processes, fostering a more profound comprehension of achieving consensus under various network conditions. 4. **Making Blockchains Secure**: Addressing security is paramount in blockchain technology. This segment highlights how network delays can pose threats to blockchain integrity, showcasing historical instances of network attacks that resulted in stolen digital assets. This awareness is vital for future blockchain designers aiming to create secure systems. 5. **Making Blockchains Scale**: The concluding module focuses on constructing scalable blockchain algorithms that maintain security. It integrates learnings from previous weeks to outline what characteristics are necessary for a blockchain algorithm to thrive in a real-world setting. This includes removing bottlenecks and ensuring that the consensus mechanism is robust against unforeseen communication delays. ### Learning Benefits By enrolling in this course, participants can expect to: - Gain a nuanced understanding of security vulnerabilities inherent in blockchains. - Develop skills to critically assess and improve blockchain designs for scalability. - Acquire practical knowledge that can be translated into real-world applications and innovations. ### Recommendation I highly recommend enrollment in "Blockchain Scalability and its Foundations in Distributed Systems" for anyone keen on delving into the world of blockchain technology, especially those aiming to specialize in its implementation at scale. Whether you are a seasoned developer, a tech enthusiast, or a business professional looking to harness blockchain for your organization's needs, this course provides invaluable insights. Furthermore, the structured syllabus and expert-led sessions ensure that complex concepts are broken down into digestible segments, making it accessible for learners at various levels. With the growing relevance of blockchain across industries—from finance to supply chain management—this course proves to be an essential asset in navigating and contributing to the future of technology. In conclusion, not only will this course equip you with foundational knowledge about blockchain and distributed systems, but it will also empower you with the skills necessary to address one of the industry's most pressing challenges—scalability. Get ready to dive deep into this exciting field!

Syllabus

Consensus in blockchain

This week, we will start our exploration of the blockchain and its relation to distributed computing. In particular, we will learn the basics on blockchain abstraction and the importance of consensus between machines in order to mitigate the risks of having an attacker spend the same asset twice - an undesirable situation called 'double-spending'.

This week we will learn how classic blockchains try to solve consensus. We will look at the failures and delays blockchain systems must consider, and how these events may prevent machines from reaching consensus.

This week, we will investigate how to solve the consensus problem. To do this, we will first investigate how to solve consensus when failures cannot occur in the network. Later on, we will learn how to solve consensus when processes may fail, first through crash failures and then when processes can behave arbitrarily.

This week, we will investigate how delays in the network can impact the security of the blockchain. We will illustrate this using network attacks that allow hackers to steal digital assets in the past and that every blockchain designer should be aware of.

This week, we will explore how to design a scalable and secure blockchain algorithm. What makes a blockchain algorithm scalable and secure? To be secure, we need a consensus algorithm that works over the Internet and is not affected by unexpected communication delays. To be scalable, we need to get rid of the bottlenecks.