2-day training on Tezos blockchain

Theory of blockchain - 1/2 day

Applications - 1/2 day

1 - Consensus algorithms in distributed databases and blockchains

Understand synchronisation algorithms in distributed databases (Paxos, Raft) and how blockchain consensus algorithms (Nakamoto, Emmy+) differ from distributed databases.

2 - Virtual machines and smart contract languages

Blockchains include a virtual machine to execute user programs (smart contracts) on their database. The virtual machine has to ensure the security of the system and be programmed from higher level languages. Various designs of VMs exist, the Tezos VM (Michelson) being characterized that it was designed with security in mind.

3 - Formal verification

Bugs in smart contracts have already caused the loss of millions of dollars. Formal verification techniques allow proving mathematically some properties of the smart-contracts, this avoiding costly bugs. Typical formal verification tools used in Tezos include languages with complex type systems (F*, Coq), SMTs / model checking (Why3, Cubicle) and Abstract interpretation.

4 - Cryptography and zero-knowledge proofs

Anonymity is a desirable property for transactions but it is hard to achieve in a public blockchain. Zero-knowledge proofs allow the encryption of transactions in a way that is compatible with the accounting requirements of the blockchain but at the same time doesn’t provide any information to unauthorized third parties.

5 - Governance

Updating a distributed software requires solving a coordination problem. Tezos solves this problem with voting and automated upgrades.

1 - Banking systems

Blockchain technology brings many innovations to the banking system : portability of bank accounts across banks, programmability of transactions, automation of contractual agreements and easy access to tools like escrows.

2 - Real estate

Blockchains allow managing real estate property titles online : sales, exchanges, voting, and fundraising (STO). We will review the typical needs of real estate companies and some existing solutions on Tezos.

3 - Stock exchanges

Blockchains allow managing shares online : sales, exchanges, and fundraising. Because stock markets are a highly regulated space, it is also necessary to ensure all regulatory requirements are properly enforced. Smart-contracts are an essential ingredient in the legal compliance of blockchain-based financial products. We will review the typical problems that arise and how they are solved in Tezos.

4 - Traceability and digital asset management

Blockchains allow creating digital twins of real life objects. These digital twins can keep a trusted an unfalsifiable trace of all actions performed on these objects like repairs or exchanges. Digital twins are used to trace product lifecycles and avoid counterfeits.

5 - Digital payment

Blockchains can also be used to implement digital payment means, with all the benefits that smart contracts provide, from contractualisation to automation.