TECH5300 Bitcoin This subject evaluates the three layers of Bitcoin, base layer 1 of the Bitcoin Network, layer 2 of the Lightning Network (LN), and layer 3 of the Decentralised Applications (DApps). Students will evaluate base layer 1 of the Bitcoin Network, which provides the security layer, by guaranteeing immutability of the Bitcoin timechain or blockchain, using the Secure Hashing Algorithm 256 bits (SHA-256) cryptographic hash function to implement the Proof-of-Work (PoW) consensus mechanism and the difficulty hash adjustment. Students will evaluate the LN and design bidirectional payment channels using multisignature smart contracts, on layer 2 of the LN, which provides the scalability layer, built on top of base layer 1 of the Bitcoin Network. Students will evaluate existing DApps in the industry and design DApps that are peer-to-peer (P2P), decentralised, trustless, censorship-resistant, surveillance-resistant, and encrypted, which provides the accessibility layer, built on top of layer 2 of the LN. Students can therefore expect to learn about the design, application, and evaluation of Bitcoin across various industries. Students with an entrepreneurial mindset will appreciate the ideas in the DApps layer 3 of Bitcoin to design evolutionary and disruptive innovations across various industries, and how to play a leading and influential role within various industries on the structure, design, strategy, and implementation plan of Bitcoin.