Blockchain Fundamentals Assessment Task
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Assignment Details:
- Words: 1500
Task 1
Unit 1 Assignment – Blockchain Fundamentals
Personal Reflection Question
We have all heard of large-scale data-related crimes, such as data breaches, cyberattacks, and even lawful data exploitation for political and economic goals. As a result, governments, corporates, directors, and administrators are continuously looking for technology solutions that enable B2B information exchange to function with lower risk, more privacy, more security, and better reputational results than exist today.
- Your organization is also researching using blockchain technology in its economic and procedural processes#1. However, not everyone in the environment is convinced.
You are requested to describe how blockchain technology functions and has the potential to greatly improve business transactions in your organization. You are requested to design your own block diagrams and flowcharts to present its main characteristics and explain how it is better in terms of security and privacy from the traditional or current system.
#1: Working Professionals are recommended to answer the above question concurrent to their current role, the process they are involved in, or the department they handle or respond to in their organization. However, they are also free to answer the way they are comfortable.
#1: Enthusiastic learners are free to explore their interested domain to answer the above questions.
Task 2
Unit 2 Assignment – Blockchain Fundamentals
Personal Reflection Question
Congratulation! After presenting the benefits of blockchain technology in your organization (Unit 1 Assessment), the management has now appointed you as a senior research associate to design, develop, and implement blockchain. Your presentation made everyone overwhelmed and excited to learn more about it. The management is expecting an initial draft from you that would cover the following:
- Propose a Network Architecture of Blockchain suitable for your organisation.
- Elements of blockchain required.
- Define appropriate Node type with security.
- Blockchain Transaction Life Cycle.
- Setting up wallet, account address and accounting methods.
Note: Learners are advised to consider the same economical or procedural process, they have presented in Unit-1 Assessment.
Task 3
Unit 3 Assignment – Blockchain Fundamentals
Personal Reflection Question – Descriptive Question
After successfully submitting the draft (Unit-2 Assessment), the management team would like to interact with you to discuss their confusion on node and concern over consensus mechanism. Before you attend this meet, you are requested to be prepared with the following questions:
- Recommend which type of node would be suitable for the organisation and why?
- Recommend which consensus mechanism would be suitable for the organisation and why?
- Discuss the process to validate every step in the transactions.
Note: Learners are advised to consider the same economical or procedural process, they have presented in Unit-1 & Unit-2 Assessment.
Task 4
GMU – Master of Business Administration – Blockchain Management – Unit4
Personal Reflection Question
The learner needs to perform an exploratory study of smart contracts to have a broader understanding of all contracts that are currently deployed in Ethereum. A minimum of three points need to be taken into consideration, however, the learner can explore more.
- How frequently the contracts are used (activity level)?
- What do they do (category)?
- How complex they are?
Note: Reference material for Unit-4 Assessment.
https://www.eecs.yorku.ca/~zmjiang/publications/emse2020_oliva.pdf
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