Since Bitcoin’s launch in early 2009, the industrial and academic interest in Blockchain and other cryptocurrencies have grown rapidly. Blockchains have been applied in many areas outside of finance such as healthcare, commerce and judiciary already. This technology promotes the creation of a decentralized environment where transactions and data are not under the control of any third-party organization. Blockchain is a fundamentally new technology that could revolutionize the future of transaction-based exchanges.  Extensive research is being done in order to implement this technology various sectors. Blockchain technology comes with an edge of inbuilt auditability, trust and transfer of value which also makes it irresistible. 
This work explores an agent based Blockchain-based Education System through mathematical modeling and simulation tools. The model is constructed to explore how Blockchain technology can be used to verify credit score of students, identify the occurrence and prevention of potential attacks.  Along with technical characteristics of Bitcoin and Blockchain; cost, time and behavioural considerations of the system are also made. This is followed by analysing of the number of transactions, size of blockchain, network efficiency, cost analysis of the system along with the network efficiency. The proposed model, based on the blockchain technology shifts the education grading and credit rewarding system from the analog and physical world into a globally efficient, transparent and universal version. The work contributes a foundation for advancing current understanding of blockchain systems, and to further the development of simulation models of blockchains.