Blockchain technology is revolutionizing how data is stored and shared in networks throughout the world today. Although normally associated with the growing use of cryptocurrency, blockchain technology Portland is seeing increased use in many other industries as well. Online educational platforms are beginning to grasp the full potential of this technology in enhancing the whole process of earning degrees and completing courses of study.
What is Blockchain Technology?
In its most basic sense, blockchain technology is a database comprised of blocks of information that are connected consecutively upon creation in a transaction. Blocks are made up of transaction information, participants in the transaction, and information to distinguish them from other blocks of information in the “chain” of blocks (Reiff, 2020). When a transaction is performed, a network of computers must review and approve the transaction before it can go through (Reiff, 2020). This Decentralized App Development approach stands in stark contrast to most businesses that have an administrator or department that reviews and approves transactions. All blocks contain a hash, a unique digital code that identifies it, as well as the hash of the previous block it is connected to in a chain (Reiff, 2020). If a certain block in a chain is tampered with, the hash will change, thus changing the information in all successive blocks. The use of hashes plus the decentralized approval approach makes hacking a blockchain system almost impossible.
Blockchain Technology and Online Education Systems
While Online Education Systems has never been more popular, its overall success remains very checkered. The rate of completion for most online courses remains embarrassingly low, and most online platforms only offer effective beginner-level courses (Garbade, 2018). Students that want to pursue more advanced courses in a specific field generally must take classes in-person at a college or university. Blockchain technology has the potential to greatly impact the success of online study by offering 3 different advantages to traditional online study.
Tokens and Cryptocurrency
Whether students like to admit it or not, motivation is often a major factor in completing a course of study, especially for online education. Sometimes, a good grade is simply not enough motivation to complete or even start a course. Because of its widespread use in cryptocurrency, blockchain offers the possibility of awarding tokens to students for completing a course (Garbade, 2018). These tokens could be exchanged for cash and would give students the double benefit of earning money and furthering their education while increasing the traffic of online educational sites that use blockchain as well.
Incentives to Educators
There is a dearth of quality teachers in many online education platforms, Online Education Systems and blockchain could remedy this problem by offering financial benefits to teachers who decide to use blockchain-supported online educational platforms (Garbade, 2018). Teachers that attract large amounts of students and provide high-quality educational materials could be awarded additional tokens.
Security
The hash system utilized by blockchain Portland greatly enhances the security of online applications, ensuring that the financial information of students and teachers remain protected. Also, the connected blockchain approach makes creating fake degrees or certifications very difficult, a useful tool in the increasing fraudulent educational marketplace (Garbade, 2018).
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