- Understand the Basics of Blockchain and DLT • DLT refers to a system where transaction data is shared across multiple locations or nodes, unlike a centralized ledger. Blockchain is a type of DLT, but there are other types as well.
• What to Learn: Learn what makes DLT different from centralized systems, the basic components like nodes, consensus mechanisms, and how transactions are verified across a network.
• Resources:
• Blockchain Basics: A Non-Technical Introduction in 25 Steps (Book)
• What is Blockchain? (IBM article)
• DLT vs Blockchain (Comparison) - Study How Different DLT Systems Work • Blockchain is the most well-known form, but you’ll also want to explore other forms like Hashgraph, DAG (Directed Acyclic Graph), or Corda.
• What to Learn: Understand the differences between permissioned and permissionless DLT systems, pros and cons of various consensus models (Proof of Work, Proof of Stake, Byzantine Fault Tolerance).
• Resources:
• Hashgraph vs Blockchain (Hedera Hashgraph resource)
• What is Directed Acyclic Graph (DAG)? (IOTA resource)
• Corda Documentation (R3’s Corda) - Learn About Consensus Mechanisms • Consensus is critical in DLT because it allows multiple nodes to agree on the state of the ledger.
• What to Learn: Explore various consensus mechanisms like Proof of Work (PoW), Proof of Stake (PoS), Byzantine Fault Tolerance (BFT), Practical Byzantine Fault Tolerance (PBFT), and Delegated Proof of Stake (DPoS).
• Resources:
• Consensus Mechanisms Explained (CoinDesk)
• Mastering Blockchain by Imran Bashir (Book)
• Blockchain Consensus Explained (Binance Academy) - Take Specialized Courses • Formal learning can help you dive deeper into DLT concepts.
• What to Learn: Sign up for courses on DLT, blockchain, or crypto.
• Resources:
• Blockchain Specialization by University at Buffalo (Coursera)
• DLT & Blockchain Course by Blockchain Council
• Introduction to Blockchain and DLT (edX) - Hands-On Practice with DLT Platforms • Once you’ve grasped the theoretical knowledge, practice working on a DLT platform.
• What to Learn: Learn how to create smart contracts, work with different DLT frameworks like Hyperledger, Ethereum, or Corda.
• Resources:
• Ethereum Developer Resources
• Hyperledger Foundation
• Building Smart Contracts on Corda - Explore Use Cases and Applications • DLT is applied in multiple industries like finance, supply chain, healthcare, and government. Study how it’s used in real-world scenarios.
• What to Learn: Understand use cases like cross-border payments, tokenization, supply chain management, and identity verification.
• Resources:
• Blockchain for Business: What’s Next? (MIT Course)
• Blockchain Applications (PWC article) - Stay Up-to-Date on DLT News and Developments • DLT is an evolving field, so it’s essential to keep up with the latest news and innovations.
• Resources:
• CoinDesk (Crypto and blockchain news)
• DLT News (Ledger Insights)
By following these steps and exploring different resources, you’ll build a strong foundation in Distributed Ledger Technology.