Blockchain and Cryptocurrencies, ICS 429
This page is
https://www2.hawaii.edu/~esb/2026spring.ics429/
This page is subject to change without notice -- please reload
it in your browser if an item that might affect you may have changed.
In particular, the schedule is likely to evolve in response to class
interest and external events.
The lectures for this class are in Holmes 243 every Tuesday and
Thursday 4:30-5:45pm.
Office hours for the instructor are Mon+Wed 9:30-10am and Tue+Thu
3:30-4pm in POST 305F.
Edo Biagioni can be reached at 808-956-3891, esb@hawaii.edu, and
https://www2.hawaii.edu/~esb/
The recommended textbook for the course is
"Mastering Blockchain", 4th edition (Released March 2023), by Imran
Bashir, ISBN: 9781803241067, published by Packt
Publishing and also available through the usual channels.
Due to the continuing evolution of the field, the 4th edition (2023)
is required.
The class will also study the freely available
Bitcoin whitepaper,
and
Ethereum whitepaper.
Schedule
This schedule is subject to change. If there is any topic you wish
to see that is not in this tentative schedule, please discuss it with
the instructor as soon as convenient.
- Tue, Jan 13. Course introductions, course summary.
Ideas in the the bitcoin whitepaper.
Presentation
- introductions
- course overview
- the bitcoin whitepaper
- 51% attacks
Links:
Assignment (due Thu Jan 15): read the bitcoin whitepaper.
- Thu, Jan 15. The bitcoin whitepaper, continued.
Bitcoin block explorers.
Presentation
- reminders: transactions, blocks, and the blockchain
- the bitcoin P2P network
- block explorers
- mining incentives
- bitcoin privacy
- the 51% attack
- forks
Assignment (due Tue Jan 20): write a paragraph about what you
have learned from reading the Bitcoin whitepaper.
- Tue, Jan 20. Cryptography used in Bitcoin. Read Chapters 3 and
4 of the textbook.
Presentation
- secure hashes, SHA-256, and SHA-3
- Merkle trees
- symmetric cryptography
- HMAC authentication
- public-key cryptography: RSA, elliptic curves
Assignment (due Tuesday Jan 27): explore at least two bitcoin
block/blockchain explorers. Report (a) which explorers you tried, and (b)
details (including the hash) of at least two interesting transactions,
explaining why you found them interesting. Or, as an alternative,
turn in your own from-scratch implementation of any one of the SHA-2 or
SHA-3 hashes.
Links:
- Thu, Jan 22. Crytpography used in Cryptocurrencies.
Presentation
- securely storing passwords
- Diffie-Hellman key exchange
- zero-knowledge proofs
- more about encryption
- Tue, Jan 27. Blockchain Programming. Read pages 1-25 of the
Ethereum whitepaper.
Presentation
- bitcoin script
- smart contracts
- DAO
Assignment (due Tuesday Feb 3): write a paragraph about what you
have learned from reading the Ethereum whitepaper.
Links:
- Thu, Jan 29. Ethereum EVM.
Presentation
- Ethereum accounts and messages
- Ethereum gas
- Turing-complete EVM
- derived coins
- high-level languages for EVM programming
- smart contracts
- oracles
Links:
- Tue, Feb 3. Midterm review.
Presentation
- bitcoin
- cryptography
- ethereum
- smart contracts
- Thu, Feb 5. Midterm 1, including material from all the lectures,
the bitcoin and ethereum whitepapers, the assignments, and chapters 3
and 4 of the textbook.
- Tue, Feb 10. Distributed Autonomous Organizations, DAOs,
and Initial Coin Offerings, ICOs.
Presentation
- reminder: smart contracts
- oracles
- the first DAO
- the DAO hack
- governance tokens
- Initial Coin Offerings, ICOs
Assignment (due Thursday Feb 19): Read the links below, and provide your one-paragraph summary of the first link. Also, set up a non-custodial cryptocurrency wallet on a device that you control, and report (a) the wallet, (b) the cryptocurrencies it can store, (c) the type of device you used, (d) how you know it is non-custodial, and (e) how safe you feel holding in this wallet crypto of value.
Links:
-
Code example for re-entrancy attack.
-
Buterin's soft fork.
-
SEC summary of the DAO and the DAO hack.
-
The ethics of the hard fork (scroll down to "Responses to the Hard Fork").
- Thu, Feb 12. Evolution of Bitcoin and Ethereum.
Presentation
- the DAO hack
- governance tokens
- Initial Coin Offerings, ICOs
- evolution: BIPs and EIPs
- the Merge
(and changes since then)
- proof of stake
Links:
- Tue, Feb 17. EVM and network node programming.
Guest Lecture by Christian Moore.
Presentation
- programming the network nodes (RPC+JSON)
- historical: Serpent
- Solidity
- Vyper
Links:
- Thu, Feb 19. EVM programming: Solidity and Vyper. Smart Contracts.
Guest Lecture by Christian Moore.
Presentation
- Solidity
- Vyper
- Example Smart Contracts
Links:
Assignment (due Thursday Feb 26): install a solidity IDE (If you have
access to the optional textbook, see p. 318, which introduces the Remix
IDE), and compile and run a smart contract. You may create the smart
contract yourself, or use one you have found -- if the latter, include
a reference to the source. Turn in (a) comments about your experience
of running the smart contract, (b) the smart contract source code itself,
and (c) the reference if any from which you got the smart contract
- Tue, Feb 24. Practical limitations of blockchains, layer 2 networks,
Bitcoin Lightning.
Presentation
- EIPs
- the Ethereum Merge, and changes since then
- proof of stake
- obvious solutions and drawbacks
- layer-2 networks
- Bitcoin Lightning
Links:
- Thu, Feb 26. More Layer 2 solutions. Tokens and NFTs.
Presentation
- Bitcoin Lightning, continued
- Ethereum ERC-20 tokens
- Ethereum ERC-721 Non-Fungible Tokens (NFTs)
- Tue, Mar 3. Midterm review.
Presentation
- material from the previous midterm
- smart contracts
- oracles
- EVM communication
- proof-of-work vs. proof-of-stake (PoW, PoS)
- Ethereum programming
- Solidity
- blockchain scaling, layer 2, LN, rollups
- Thu, Mar 5. Midterm 2.
Assignment (due Thursday Mar 12): read at least one of (1) the Bitcoin
Lightning whitepaper, (2) Ethereum rollups, including Zero-knowledge
and Optimistic rollups (3 links under February 24th).
Then write a paragraph summarizing (1) either section 3.3.4 and Figure 9
(you will have to read and understand everything up to 3.3.4 to make
sense of 3.3.4), or if you prefer the process described in Figure 12
or Figure 14, or Section 8 of the lightning paper, or (2) the
centralization risks of ZK rollups and ways for users to reclaim their
funds if needed. Please make it clear what your paragraph is summarizing.
Your entire paragraph must be in your own words.
If you have access to the textbook, you are also encouraged to read
Chapter 17 in the textbook.
- Tue, Mar 10. Fungible and non-fungible coin reminders. Stablecoins
Chapter 15 of the textbook.
Presentation
- reminder: ERC-20 basic tokens, ERC-721 non-fungible tokens (NFTs)
- stablecoins
Links:
- Thu, Mar 12. Decentralized Finance.
Class was not held due to low attendance, possibly due to the storm.
Assignment (due Wednesday Mar 25th):
alone or in groups of 2-5, create a smart contract that is more
interesting and/or useful than the one on the Feb 19-26 assignment.
Summarize your results in 1-3 powerpoint slides that you will present
in class on Tuesday Mar 31st.
The slide should include why the code is interesting.
I plan to publish on the web page a collection of all the slides, so
please do not include your names or other identifying information.
Send the slides (and code if you're willing to share it with the TA and
me) and team information by email (i.e. not on Lamakū)
to me and the TA, cc'ing all your team members. Only 1 email per
team please.
- Mar 16-20, Spring recess (no classes)
- Tue, Mar 24. Automated Market Makers (AMM) and decentralized Finance.
Presentation
- automated market makers
- decentralized finance
Links:
- Thu, Mar 26. Prince Kūhiō day holiday.
- Tue, Mar 31.
Student presentations and discussions.
Assignment (due Tuesday Apr 7): Alone or in groups of 2-5, email to
me and the TA a project proposal: a description of a blockchain- or
cryptocurrency-related project you plan to do for the rest of the
semester. Only email one description per group, and be sure to cc all
your group members. If you have no ideas for a project, email us that
you don't have a specific project in mind, and include some idea of what
you are interested in doing, and we will try and find something for you
to do, perhaps in a group with others.
- Thu, Apr 2.
Class rescheduled for Apr 7th due to low attendance and
the preferences of the few who were in attendance
- Tue, Apr 7. Finishing student presentations from March 31.
Blockchain Privacy. If you have the textbook, I suggest you read
Chapter 18.
Presentation
- ideal and actual privacy
- anonymity on the Internet
- anonymous use of crypto
Links:
- Thu, Apr 9. Midterm review.
Presentation
- ERC-20 tokens
- NFTs
- stablecoins
- DeFi
- blockchain privacy
- programming in solidity
- Tue, Apr 14. Midterm 3.
- Thu, Apr 16. Blockchain Security. Textbook Chapter 19.
- Thu, Apr 16. What is money? and, Is Crypto Money?
- Tue, Apr 21.
- Thu, Apr 23.
- Tue, Apr 28.
- Thu, Apr 30. Blockchains and Cryptocurrencies in the Future
- Tue, May 5. Student presentations
(for projects that include a presentation).
- Tue, May 12, 6:30pm, final
projects are due.
Grading
This grading scheme is tentative, and may change during the semester.
This course has occasional homework assignments and projects.
Each of these is done individually by default, but if interested in doing
a particular project as a group, please contact the instructor.
- Assignments and projects: 50%.
- Three midterms, for a total of 30%.
- Final project, 20%.
To accomodate the potential for emergencies affecting academic performance,
- the lowest 2 weeks' worth of assignment grades will be dropped
- the lowest midterm exam grade will be dropped
- the first draft of the final project must be turned in two weeks
before the due date.
- if the instructor has to take time off reason, the
students must study the corresponding material on their own.
The instructor expects to be at a conference Feb 16-19, and
will try to arrange guest lecturers.
This is intended for use with illnes or other emergencies. It need not
be justified, but will also not be extended in any way, so students
should not take advantage of it unless actually needed or until the
end of the semester, whichever comes first.
Exams may be taken early, if requested at least one week before the scheduled time. Under no circumstances may an exam be taken late.
Grading will use the standard cutoffs of
97% (A+), 93% (A), 90% (A-), 87% (B+), 83% (B), 80% (B-), 77% (C+),
73% (C), 70% (C-), 67% (D+), 63% (D), 60% (D-).
Course Information, Policies and Resources
Information that the University Administration wants you to know,
not specific to this course
Attendance policy
Students who are enrolled in this course, but never attend, will be flagged
by the course instructor for non-participation before the last day to
add/drop (for 100% tuition refund) deadline. Flagged students will be
administratively dropped by the Office of the Registrar. Any changes
to a student’s enrollment status may affect financial aid eligibility
and can result in the return of some of all of federal student financial
aid. (specify for your course; may also be covered under Grading section)
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KOKUA Program (Office for Students with Disabilities) at 956-7511,
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to meet your access needs based on disability documentation. Kokua’s
services are confidential and offered free of charge.
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Cheating, plagiarism, or other forms of academic dishonesty are not permitted within this course and are prohibited within the System-wide Student Conduct Code (EP 7.208). Examples include: fabrication, falsification, cheating, plagiarism, and use of improper materials. Any incident of suspected academic dishonesty will be reported to the Office of Student Conduct for review and possible adjudication. Additionally, the instructor may take action in regards to the grade for the deliverable or course as they see fit.
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