Introduction to coursework 2: transactions and verification

Throughout the module, you will be working on an extended coursework. The
coursework is set out in four assignments:
(1) Cryptographic Hash Functions
(2) Transactions and Verification
(3) The Blockchain
(4) Adding new blocks: mining and the consensus mechanism

The first two assignments will be submitted together as coursework 1; the second two will be submitted as coursework 2.

Each of the coursework assignments involves two tasks: a programming task
and a reflective essay on a related topic. In recognition that your background
and interest will lead you to engage with the module in the most appropriate
way for you, we are allowing you to choose your assessment route. You can
choose, for each assignment, whether you want the ratio of
programming/writing marks for the assignment to be 70/30; 50/50; or 30/70.

If you complete all the programming tasks, you will have implemented a new
cryptocurrency and the blockchain that supports it. You will also compete to
mine the most coins. You can do this thing!

Programming assignment 2

This second assignment begins our implementation of Zimcoin: the gateway
to our millions.

In it you are asked to define a python class for transactions. Each transaction
will have quite a bit of associated data: sender, receiver, amount. You will
implement a constructor for and some verification functions. You will also
implement functions for creating transactions and you will test that everything
works.

There are two hash functions involved: SHA1 and SHA256. And Elliptic Curve
Signatures.

in short, it will bring in several of the things we have talked about. I am very
much hoping that thinking about the implementation will help cement the understanding of these concepts.

Extra marks are given for extending the notion of addresses

Writing assignment 2

Reflect on the transaction mechanisms across various blockchain networks, with a focus on Bitcoin as a benchmark. Consider the verification processes discussed in lectures and programming assignments and delve into how these procedures differ in alternative currencies. Compare and contrast the transaction and verification mechanisms of at least one additional currency with Bitcoin, analysing their levels of flexibility, privacy, and security. Pay special attention to how each currency prevents unauthorized money creation, particularly outside of Coinbase transactions.

Select one additional currency from the following list for a concise essay, or
explore two or three for a more in-depth analysis:

• Litecoin
• Stellar
• Tezos
• Ripple
• ERC-20 transactions in Ethereum

Refer to the lectures and materials provided by Antonopoulos’ book for insights into Bitcoin’s transaction model and verification process. Evaluate the similarities and disparities between Bitcoin and the chosen currency/currencies, assessing their respective transaction execution methods and security measures.