We provide the basic knowledge of blockchain and Ethereum for the students onboarding UETH. We first use interesting and easy-to-understand stories to introduce the basics of blockchain technology to the students, and conduct a quiz and check if the students understand the technology by using our comprehension validation system which is combined with the Feynman Technique. We also conduct a profile KYC for the students during the process, which would be important for creating Student ID for each student. After completing the onboarding process, students are informed that their progress is tracked and they gain accolades for completing courses and milestones. We will use our comprehension validation system to check their answers, and if they understand the concepts, they will go to the next step for further learning; if not, they are encouraged to learn the specific knowledge again. The student onboarding process is to build the orientation of the students, prepare and equip them for further learning of the advanced courses, familiarize students with the main architecture and functions of the website, and lay the foundation for UETH to achieve its goals.
The word cryptography has Greek origins: “Kryptos” meaning hidden and “Graphein” meaning “to write”. Encryption started by playing an important role in military applications and is now the most practical way to protect electronically stored, processed, or transmitted data. The technology of cryptography is also the foundation on which blockchain is built. Blockchains make use of two types of cryptographic algorithms, asymmetric-key algorithms and hash functions. Zero-Knowledge Proofs are also utilized in public blockchain networks to achieve privacy. The School of Cryptography will help you grasp the application of cryptography in the blockchain industry as well as the latest innovations in the field. These concepts are essential for a deep understanding of the core of blockchain and Ethereum.
Ethereum currently has an annual inflation rate of ~3.77% while providing ~$40m in daily security payments. More than $6 Billion in ETH have been burned, and the issuance of ETH is expected to be further reduced by 90% after the merge to the beacon Proof of Stake algorithm. These numbers are part of what we call blockchain economics. The combination of blockchain technology and economics provides unprecedented security guarantees. Economic incentives are necessary to encourage miners or stakers to guard blockchains against malicious attacks and are also important to incentivize positive governance of blockchain-based protocols. The School of CryptoEconimics provides a comprehensive and systematic understanding of economics in the blockchain industry and how it is best utilized in the development of protocols.
Since the first computer programming language was created by IBM in the 1950s, programming languages have become essential to technological innovations, and the blockchain industry is no exception. Ethereum, the world’s most popular smart contract platform, provides developer-friendly languages to write smart contracts and build applications. One of the benefits of the Ethereum network and community is that you’re able to utilize many different programming languages with more being added each year. The School of Development Language will help you learn smart contract languages, like solidity, and show some of the best practices for Web3 application development. Become proficient in understanding what programming languages are used for and how they affect smart contract development.
Launched in 2015, Ethereum is the world’s first and most popular smart contract platform. As of 2022, there have been more than 519,000 token contracts created on Ethereum. It has the largest developer community in the blockchain industry, and some of the biggest companies in the world like Microsoft, HSBC, and Barclays are building on Ethereum. Now Ethereum is nearing a highly-anticipated upgrade, also known as “The Merge.” This will enable the current Ethereum Mainnet to “merge” with the beacon chain proof-of-stake system. The School of Ethereum Protocol will cover everything from Ethereum standards, known as EIPs, to the latest Ethereum developments, from smart contracts to Ethereum-based tokens.
Security and Audit
The adoption of blockchain and cryptocurrency has been accompanied by significant financial based attacks, theft and fraud. In 2021, the targeted attacks on Decentralized Finance platforms reached $1.3 billion, a 2500% increase from 2020, and the majority of these DeFi platforms exploited were unaudited. Security is an area that crypto users and developers have to take seriously. The School of Security and Audit will cover common types of attacks and fraudulent means in which the blockchain and crypto industry have been attacked. This school also covers some of the best practices related to smart contract security, and the analysis of attack events.
Ethereum currently has a total annualized power consumption approximately equal to that of Finland, but its energy consumption is expected to decrease by ~99.95% after “The Merge" to a new consensus algorithm. The impact of consensus algorithms on blockchain technology cannot be understated. To put it simply, Blockchain is in essence a distributed database shared among nodes in a network. The consensus algorithm is a procedure in which all nodes of the network reach a common acceptance or consensus about the real-time state of this database. The School of Consensus Algorithms covers all you need to know about blockchain consensus algorithms, including the transition to the Proof-of-Stake consensus method in Ethereum.
To have a deep understanding of the blockchain and crypto industry, one must understand how data is stored and utilized. This course provides sources and in-depth analysis on data in the Ethereum Network from the industry’s leading organizations. These resources will give you a fundamental understanding of data in the blockchain and the current state of research on the subject.
The concept of a smart contract was initially published by Nick Szabo – a cryptographer and legal scholar - in 1994. A smart contract is in essence a self-executing program with a defined ruleset. Ethereum is the original smart contract platform and hosts more web3 decentralized applications than any other blockchain. The School of Smart Contracts will cover all you need to know about smart contracts, including how to build, test, and deploy secure smart contracts on Ethereum and the best practices for smart contract development.
The Blockchain Trilemma is a fundamental thought experiment in blockchain. The trilemma covers three major issues that conflict with each other: Decentralization, Security, and Scalability. Bitcoin can process only 7 transactions per second, and Ethereum currently can only handle around 15 transactions per second. In contrast, Visa is now capable of handling more than 24,000. In order to increase its transaction speed and throughput without sacrificing decentralization or security, Ethereum is implementing various scaling solutions. These solutions include sharding and rollup technology. According to Vitalilk Buterin, co-founder of Ethereum, “rollups” offer a ~100x increase in throughput and “sharding” offers a ~64x increase, so rollups on top of sharding offer a ~6400x increase in throughput. The School of Scaling covers the concepts and innovations in Ethereum scalability, as well as guides to using these scalability solutions.
Decentralized applications, or “dApps” have become a game changer in the blockchain space over the past few years. As of the first quarter of 2022, there are about 2.4 million daily active users of dApps. To put it simply, a dApp is an application built on a decentralized network that combines a smart contract and a frontend user interface. DApps can be applied to almost any industry, such as finance, gaming, social media, medical, governance, and even file storage. The Ethereum network hosts thousands of these types of dApps with the number of applications growing every day. The School of Decentralized Applications provides a comprehensive understanding of dApps and covers the most popular applications in the field.
Blockchain technology has become one of the most disruptive forces of technology in years. Right now, ~90% of all U.S. and European financial institutions have started exploring the technology. The number of registered blockchain wallets in the 2nd quarter of 2021 has ballooned to over 70 million. It is estimated that the global blockchain technology market will accumulate approximately $20 billion in revenue by 2024. The School of Blockchain will help you learn the basic concepts of blockchain technology and cryptocurrency.