Go Behind the Scenes of Alyra’s Blockchain Training (Part 3)

Two weeks ago we published a new article on Alyra’s Blockchain formation process. As promised, in the following lines I will give you a summary of the concepts covered in the last two weeks.

Alyra speaks

Alyra’s speeches play an essential role in my training entitled “Conduct an innovative project”. They allow students to meet industry professionals and discuss interesting topics. But more than that, they allow you to absorb the realities of practicing professions in the blockchain value chain.

CAD creator

Alyra’s fifth week speech was an opportunity to discuss with Serge Petroff, DAO Maker’s DeFi consultant.

After giving us a brief overview of his academic background and the reasons that led him to the cryptocurrency industry, Serge spoke to us at length about the activities of DAO Maker. DAO Maker is in fact a launchpad, one of the oldest on the market. Created in 2018, this fundraising platform offers early exposure to certain projects that are deemed relevant and allows you to invest in them even before they are listed on the stock exchange.

More concretely, users wishing to invest in projects must stake DAO tokens on the platform. The users most likely to be chosen as the first investors in a project are obviously those who have wagered the most tokens.

Finally, Serge gave us some advice. Above all, he invited us to show pragmatism and perseverance if we are to thrive in the industry.

NFT, non-fungible token
Non-fungible token

A speech by Alyra focusing on NFTs

As part of the week six speech, Alyra welcomed Félicie le Dragon. She is NFT and Metaverse marketing consultant for her NFT Madam consultancy agency and co-founder of NFT Factory. The Paris-based company specializes in NFT education and the development of projects related to their dissemination. The expert firmly believes that only education and research in this field will allow it to be energized in the future. Furthermore, he indicates that the real actors of tomorrow in this field will be those who will position themselves there today.

“The ecosystem of tomorrow will be created by those who make it their own”hammered.

Felicie the Dragon is a “crypto-enthusiastic” NFT and metaverse version. In particular, he drew learners’ attention to the arrival of big brands in the metaverse, to signify the potential it brings, before urging us to get interested.

Additionally, the expert has provided three important tips for people interested in blockchain. According to her, you need to impose your idea. “If you have an idea, it is because you are in step with the times and are responding to a need. But for an idea to be successful, it is necessary to have arguments to defend it “she explained.

He therefore advised to be persistent and flexible, as there is no branch in new technologies that is more scalable than the blockchain. Perseverance and flexibility above all require constant learning to avoid being overwhelmed by the rapid evolution of the sector.

Finally, he said it is important to focus on the essential, because there are too many opportunities to be seized in the blockchain. To sum up, you need to focus on what really interests you, with the risk of spreading too much.

A look at the last two weeks of class

In our latest article on Alyra’s formation, we discussed, on the one hand, why blockchains emerged. On the other hand, we talked about the spirit and attribute of the blockchain, with a nod to the flagship cryptocurrency, bitcoin (BTC). This time it was about discovering the architecture and functioning of a blockchain, the anatomy of a block and the Ethereum blockchain. In particular, we have studied the reasons that make it the blockchain n. 1 for decentralized applications (DApps).

Architecture and operation of a blockchain

This module essentially aims to enlighten students on the technical functioning of a blockchain. You should know that at this level the issues of mining, its importance, but also the operation of a mining farm have been widely discussed. The course allowed us to learn more about the economic model of this business, as well as the technical details (hash rate, energy challenges, yields) and the issues it faces. To illustrate this development, we have, among other things, studied a world map of mining, produced by the University of Cambridge. The module also made it possible to identify opportunities in this segment.

Blockchain architecture
The architecture of a blockchain

Anatomy of a block

We also learned that blocks are at the heart of blockchain technology. The blocks, which are linked together to form the blockchain, optimize the transaction validation process. They follow precise rules specific to each ecosystem, known as “consensus”. It is a key notion for understanding the blockchain. Consensus makes it possible, among other things, to resist attacks, to make the network fair and equitable for the various stakeholders, to guarantee the irrevocability of transactions and the promotion of an incentive and cooperative economic regime.

At this level, we have discussed the specificities of the notion of blocking in two parts. These are the block header and the Merkle root, two elements that allow for optimal reading of blockchain data. The former is used to identify a particular block on an entire blockchain. The second is a structure that groups all transactions to identify in the most detailed way all the information contained within each transaction.

Ethereum, the application-oriented blockchain

After studying bitcoin in the previous modules, an entire module gives us the opportunity to learn about Ethereum and ether, the second largest cryptocurrency in the ecosystem by market capitalization. This dive into the heart of Ethereum can be considered the practical part of everything we’ve seen above, but with a few exceptions.

It should be noted that due to its panoply of offerings and its technical flexibility, Ethereum naturally attracts developers (Dapps), decentralized autonomous organizations (DAOs), decentralized financial companies (DeFi) and NFT markets. Today it is one of the ecosystems that most attracts the various stakeholders in the blockchain value chain. These assets are the reason why Ethereum is increasingly regarded as the blockchain with the greatest potential. Some believe it may be more important than Bitcoin in the future.

Ethereum, the application-oriented blockchain
The application-oriented blockchain

Alyra’s Live Experts

Alyra’s talks aren’t the only opportunities we have to interact with cryptosphere experts, there are also Live Experts. I haven’t mentioned them in my previous posts. But fortunately, it’s never too late to do well.

If Alyra’s talks take place on Mondays, Live Experts, meanwhile, are held on Thursdays. It is to the expert Fanis Michalakis who has returned the task of animating those of the last two weeks. Fanis is a blockchain developer, he knows what’s under the hood. He explained at length the history, and also the “prehistory”, of Bitcoin, how it actually works and the reasons why it is better to use your own node. The expert also presented us with the classic path of a bitcoin transaction, from its construction to the propagation of the block.

To conclude

After 6 weeks, my impressions haven’t changed. If you have followed me since the beginning of this journey, you probably know my point of view on training ” Lead an innovative project », From Alyra, the training course for future blockchain consultants. If, on the other hand, this article is the first of the series you are reading, do not hesitate to read my first and my second text. You will discover the behind the scenes of the first 4 weeks of class and my feelings about wealth, but also about the amount of work that this training represents.

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Luc Jose Adjinacou avatar
Luc José Adjinacou

Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.

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