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Decentralized Finance (DeFi) Opportunities and Risks
Cam Harvey
Cam Harvey
DeFi and the Future of Finance is a set of four courses that focus on decentralized finance. The final course is called DeFi Opportunities and Risks. It is essential that you complete the first three courses: I. DeFi Infrastructure; II. DeFi Primitives; and III. DeFi Deep Dive before beginning the fourth course. The course starts with the premise that an analysis of any new technology must clearly gauge the risks and challenges. Given that DeFi is only a few years old there are plenty of risks. The course begins with the most obvious risk: smart contract risk. Smart contracts are foundational for DeFi. The code of these contracts is public - opening a clear attack vector for hackers. That is, in traditional finance, hackers need to break into a system to get access to the code and data. In DeFi, everything is open source.There are many other risks studied including: Governance risk; Oracle risk; Scaling risk; Decentralized Exchange or DEX risk; Custodial risk; Environmental risk; and Regulatory risk.
Register for this course and see more details by visiting:
OpenCourser.com/course/tpgrhl/decentralized
What's inside
Syllabus
Smart Contract Risk
The first model explores both logic errors and economic exploits that characterize smart contract risk. We then focus on some specific exploits including the Yearn.finance exploit that utilized a massive flash loan.
Read more
Syllabus
Smart Contract Risk
The first model explores both logic errors and economic exploits that characterize smart contract risk. We then focus on some specific exploits including the Yearn.finance exploit that utilized a massive flash loan.
Read more
Governance, DNS, Oracle, DEX and Custodial Risk
The second model explores additional risks including governance attacks, DNS attacks, oracle vulnerabilities, and DEX risk. The module ends with an exploration of the different types of custodial arrangements and the risks that each approach creates.
Scaling Risk
Scaling risk is one of the biggest risks facing DeFi. Current capacity of the Ethereum blockchain is only about 15 transactions per second whereas the Visa network is 65,000. This module explores potential solutions to the scaling problem.
Regulatory and Environmental Risk
The final module explores the regulatory risk that the DeFi space faces from KYC/AML to the potential declaration that some DeFi tokens are securities. Central bank digital currencies are also explored. We then explore the environmental impact of Proof of Work consensus and the migration to the environmentally friendly Proof of Stake.
Winners and Losers
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Covers DeFi infrastructure, primitives, and deep dives, providing learners with extensive knowledge in these areas
Provides a comprehensive overview of risks associated with DeFi, including smart contract risks, governance risks, and regulatory risks
Taught by Cam Harvey, who is an expert in the field of decentralized finance
Appropriate for learners with some knowledge of DeFi or web3
Prerequisites must be completed before beginning the fourth course
Focuses on risks and challenges, which are essential considerations in the emerging field of DeFi
Save this course
Save Decentralized Finance (DeFi) Opportunities and Risks to your list so you can find it easily later:
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Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Decentralized Finance (DeFi) Opportunities and Risks with these
activities:
Review basic principles of finance
Show steps
Reviewing the fundamentals of finance will help to provide a foundation for understanding decentralized finance.
Browse courses on
Finance
Show steps
-
Read through your old notes or textbooks on finance.
-
Take practice quizzes or problems on financial concepts.
-
Watch online videos or tutorials on finance topics.
Follow tutorials on smart contract security
Show steps
Understanding smart contract security is critical for navigating the risks associated with DeFi.
Browse courses on
Smart Contracts
Show steps
-
Find online tutorials or courses on smart contract security.
-
Follow the tutorials and complete the exercises or quizzes.
-
Apply what you have learned to analyze real-world smart contracts.
Join a DeFi study group or discussion forum
Show steps
Engaging with others in a DeFi community will help you to learn from different perspectives and stay up-to-date on industry trends.
Browse courses on
Decentralized Finance
Show steps
-
Find online or local DeFi study groups or discussion forums.
-
Join the group and actively participate in discussions.
-
Share your knowledge and insights with others.
-
Attend online or offline meetups to network with other DeFi enthusiasts.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Practice solving DeFi challenges
Show steps
Solving DeFi challenges will help you to develop practical skills and identify potential pitfalls.
Browse courses on
Decentralized Finance
Show steps
-
Find online platforms or communities that offer DeFi challenges.
-
Select challenges that are aligned with your skill level and interests.
-
Work through the challenges and debug your solutions.
-
Discuss your solutions with others in the community.
Volunteer for a DeFi project or organization
Show steps
Volunteering for a DeFi project will provide you with hands-on experience and practical insights.
Browse courses on
Decentralized Finance
Show steps
-
Find DeFi projects or organizations that offer volunteer opportunities.
-
Apply for a volunteer position and provide your skills and interests.
-
Contribute to the project or organization in a meaningful way.
-
Network with other DeFi professionals and learn from their experiences.
Write a blog post or article on a DeFi topic
Show steps
Writing about DeFi will help you to deepen your understanding and communicate your knowledge to others.
Browse courses on
Decentralized Finance
Show steps
-
Choose a specific DeFi topic that you are interested in.
-
Research the topic thoroughly and gather relevant information.
-
Structure your article or blog post logically and make it easy to follow.
-
Publish your article or blog post and share it with others.
Mentor others interested in DeFi
Show steps
Mentoring others will help you to solidify your understanding of DeFi and contribute to the growth of the community.
Browse courses on
Decentralized Finance
Show steps
-
Identify mentees who are interested in learning about DeFi.
-
Share your knowledge and experience with your mentees.
-
Provide guidance and support to your mentees as they explore the DeFi ecosystem.
-
Encourage your mentees to network with other DeFi professionals.
Review basic principles of finance
Show steps
Reviewing the fundamentals of finance will help to provide a foundation for understanding decentralized finance.
Browse courses on
Finance
Show steps
Show steps
Show steps
- Read through your old notes or textbooks on finance.
- Take practice quizzes or problems on financial concepts.
- Watch online videos or tutorials on finance topics.
Follow tutorials on smart contract security
Show steps
Understanding smart contract security is critical for navigating the risks associated with DeFi.
Browse courses on
Smart Contracts
Show steps
Show steps
Show steps
- Find online tutorials or courses on smart contract security.
- Follow the tutorials and complete the exercises or quizzes.
- Apply what you have learned to analyze real-world smart contracts.
Join a DeFi study group or discussion forum
Show steps
Engaging with others in a DeFi community will help you to learn from different perspectives and stay up-to-date on industry trends.
Browse courses on
Decentralized Finance
Show steps
Show steps
Show steps
- Find online or local DeFi study groups or discussion forums.
- Join the group and actively participate in discussions.
- Share your knowledge and insights with others.
- Attend online or offline meetups to network with other DeFi enthusiasts.
Four other activities
Expand to see all activities and additional details
Show all seven activities
Practice solving DeFi challenges
Show steps
Solving DeFi challenges will help you to develop practical skills and identify potential pitfalls.
Browse courses on
Decentralized Finance
Show steps
Show steps
Show steps
- Find online platforms or communities that offer DeFi challenges.
- Select challenges that are aligned with your skill level and interests.
- Work through the challenges and debug your solutions.
- Discuss your solutions with others in the community.
Volunteer for a DeFi project or organization
Show steps
Volunteering for a DeFi project will provide you with hands-on experience and practical insights.
Browse courses on
Decentralized Finance
Show steps
Show steps
Show steps
- Find DeFi projects or organizations that offer volunteer opportunities.
- Apply for a volunteer position and provide your skills and interests.
- Contribute to the project or organization in a meaningful way.
- Network with other DeFi professionals and learn from their experiences.
Write a blog post or article on a DeFi topic
Show steps
Writing about DeFi will help you to deepen your understanding and communicate your knowledge to others.
Browse courses on
Decentralized Finance
Show steps
Show steps
Show steps
- Choose a specific DeFi topic that you are interested in.
- Research the topic thoroughly and gather relevant information.
- Structure your article or blog post logically and make it easy to follow.
- Publish your article or blog post and share it with others.
Mentor others interested in DeFi
Show steps
Mentoring others will help you to solidify your understanding of DeFi and contribute to the growth of the community.
Browse courses on
Decentralized Finance
Show steps
Show steps
Show steps
- Identify mentees who are interested in learning about DeFi.
- Share your knowledge and experience with your mentees.
- Provide guidance and support to your mentees as they explore the DeFi ecosystem.
- Encourage your mentees to network with other DeFi professionals.
Career center
Learners who complete Decentralized Finance (DeFi) Opportunities and Risks will develop knowledge and skills
that may be useful to these careers:
Blockchain Developer
Blockchain Developer
Blockchain Developers create and maintain blockchain systems and applications. This course is an excellent introduction to the risks and challenges involved in decentralized finance, which is at the core of the blockchain industry.
Investment Banker
Investment Banker
Investment Bankers help companies raise capital and advise them on financial transactions. This course may be helpful for Investment Bankers who want to learn more about the risks and challenges of investing in decentralized finance.
Financial Analyst
Financial Analyst
Financial Analysts provide investment advice to clients based on research and analysis of financial data. This course may be helpful for Financial Analysts who want to expand their knowledge of decentralized finance and its potential risks.
Compliance Analyst
Compliance Analyst
Compliance Analysts ensure that companies comply with laws and regulations. This course may be helpful for Compliance Analysts who want to learn more about the regulatory risks associated with decentralized finance.
Quantitative Analyst
Quantitative Analyst
Quantitative Analysts use mathematical and statistical models to analyze financial data. This course may be helpful for Quantitative Analysts who want to learn more about the risks and challenges of investing in decentralized finance.
Risk Manager
Risk Manager
Risk Managers identify, assess, and manage risks that could affect a company's financial performance. This course may be helpful for Risk Managers who want to learn more about the risks associated with decentralized finance.
FinTech Analyst
FinTech Analyst
Fintech Analysts analyze the financial technology industry and advise clients on investment opportunities. This course may be helpful for Fintech Analysts who want to learn more about the risks and challenges of decentralized finance.
Blockchain Architect
Blockchain Architect
Blockchain Architects design and implement blockchain systems and applications. This course may be helpful for Blockchain Architects who want to learn more about the risks and challenges of decentralized finance.
Cryptocurrency Trader
Cryptocurrency Trader
Cryptocurrency Traders buy and sell cryptocurrencies for profit. This course may be helpful for Cryptocurrency Traders who want to learn more about the risks and challenges of investing in decentralized finance.
Financial Modeling Analyst
Financial Modeling Analyst
Financial Modeling Analysts build financial models to analyze and forecast financial performance. This course may be helpful for Financial Modeling Analysts who want to learn more about the risks and challenges of decentralized finance.
Business Analyst
Business Analyst
Business Analysts identify and analyze business needs and develop solutions. This course may be helpful for Business Analysts who want to learn more about the risks and challenges of decentralized finance.
Software Engineer
Software Engineer
Software Engineers design, develop, and maintain software systems. This course may be helpful for Software Engineers who want to learn more about the risks and challenges of decentralized finance.
Product Manager
Product Manager
Product Managers develop and manage products for companies. This course may be helpful for Product Managers who want to learn more about the risks and challenges of decentralized finance and how it can be applied to their products.
Economist
Economist
Economists study the production, distribution, and consumption of goods and services. This course may be helpful for Economists who want to learn more about the risks and challenges of decentralized finance.
Data Scientist
Data Scientist
Data Scientists analyze data to identify trends and patterns. This course may be helpful for Data Scientists who want to learn more about the risks and challenges of decentralized finance.
For more career information including salaries, visit:
OpenCourser.com/course/tpgrhl/decentralized
Reading list
We've selected nine books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Decentralized Finance (DeFi) Opportunities and Risks.
Save
Aims to introduce fundamental concepts surrounding the Ethereum platform, and how to build smart contracts and dApps using it. It provides a comprehensive exploration into the Ethereum ecosystem, which would be useful given the foundational nature of Ethereum within the DeFi ecosystem.
The Age of Cryptocurrency provides a comprehensive overview of the history, development, and impact of cryptocurrency on the global economic order, offering valuable context to understand the influence of DeFi within the larger cryptocurrency ecosystem.
Save
Presents a comprehensive overview of Bitcoin's underlying technology and serves as a technical reference guide for the Bitcoin protocol, providing fundamental knowledge that can be applied to understanding DeFi.
Collection of the writings of Satoshi Nakamoto, the creator of Bitcoin. It is an essential read for anyone who wants to understand the origins and philosophy of blockchain technology.
Discusses the broader technological, economic, and societal implications of the Fourth Industrial Revolution, providing context for the role of DeFi within the larger landscape of emerging technologies and their impact on society.
Provides a broad overview of blockchain technology and its potential applications. It good resource for understanding the big picture of DeFi and how it fits into the larger context of blockchain technology.
Provides a conceptual overview of Bitcoin and decentralized finance, explaining how the design of Bitcoin relates to monetary systems.
Provides a comprehensive overview of cryptocurrencies, including a discussion of DeFi. It good resource for understanding the investment potential of DeFi.
Cryptocurrency Investing for Dummies provides a beginner-friendly introduction to the world of cryptocurrency investing, explaining key concepts and strategies, which would be valuable for those new to the cryptocurrency and DeFi ecosystem.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/tpgrhl/decentralized
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Effort
4 weeks of study, 2-3 hours/week
Level
Intermediate
Via
Coursera
Institution
Duke University
Instructor
Cam Harvey
Language
English
Transcripts
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آذربایجان دیلی
This course belongs to a
collection
called
Decentralized Finance (DeFi): The Future of Finance. It's comprised of four courses:
- Decentralized Finance (DeFi) Deep Dive
- Decentralized Finance (DeFi) Infrastructure
- Decentralized Finance (DeFi) Primitives
- Decentralized Finance (DeFi) Opportunities and Risks (viewing)
Good to know
Covers DeFi infrastructure, primitives, and deep dives, providing learners with extensive knowledge in these areas
Provides a comprehensive overview of risks associated with DeFi, including smart contract risks, governance risks, and regulatory risks
Taught by Cam Harvey, who is an expert in the field of decentralized finance
Appropriate for learners with some knowledge of DeFi or web3
Prerequisites must be completed before beginning the fourth course
Focuses on risks and challenges, which are essential considerations in the emerging field of DeFi
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