Virtual Currencies: A Case Study of Bitcoin
Learn more about Bitcoin and how it is used as an electronic payment system, with this free finance course.Publisher: Khan Academy
CertificationView course modules
Bitcoin is a type of digital currency that can be used in electronic payment systems. This course will teach you how to install the Bitcoin client on your computer to make Bitcoin payments. You will study MD5 and SHA 256 which are used as cryptographic hash functions. You will also learn the important functions of cryptographic hash functions which include computational efficiency, collision resistance, information privacy, and random generation of output.
A Digital Signature Standard (DSS) is a collection of procedures and standards developed by the U.S. National Security Agency used to generate a digital signature to authenticate electronic documents. This course will discuss the RSA and DSS digital signatures. You will study the keys generated when creating a digital signature, which includes the signing key and verification key. You will learn that the verification key is kept public and the signing key is kept private.
Bitcoin is a decentralized system, meaning no single institution controls the network. This currency model has been increasing in popularity and notoriety for some time, and is unlikely to disappear any time soon. By the end of this course, you will have a much stronger understanding of what Bitcoin is, how it can be used, and what its potential future may hold. This is powerful knowledge in the modern economy, so check out the course today and start learning something really useful.
Introduction to Bitcoin
Introduction to Bitcoin - Learning Outcomes
Bitcoin - What is it?
Bitcoin - Overview
Cryptographic Hash Function
Proof of Work
Transaction Block Chains
The Money Supply
The Security of Transaction Block Chains
Introduction to Bitcoin - Lesson Summary
After studying this course, you will be able to:
- Describe how Bitcoin is used as an electronic payment system
- Outline the function of cryptographic hash functions
- Examine how digital signatures and proof of work ensure security
- Discuss the importance of transaction block chains and how they are created
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