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Blockchain (1).pptx

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This document discusses blockchain technology, including what blockchain is, how it works, types of blockchain networks, applications of blockchain, advantages and disadvantages. Blockchain is a distributed digital ledger that records transactions in blocks that are linked using cryptography. It allows for transactions to be recorded and distributed without a central authority. Consensus algorithms like proof of work are used to validate transactions and add new blocks to the blockchain. Blockchain has applications in financial transactions, asset tracking, data storage and decentralized applications. Its advantages include transparency, security and cost reduction. However, it also faces challenges related to speed and implementation costs.

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Blockchain Meet P Barasara CSD 2nd Year 1210213050100
• What is Blockchain? • How Does Blockchain Work? • Applications of Blockchain • Advantages • Disadvantages • Conclusion Points Of Discussion • Types of Network
Blockchain (1).pptx
Why Do We Need Blockchain When We Have Centralized Network For Transaction?
• Transaction Can Be Failed Due To • Technical Issues • Account Hacked • Transfer Limits Problems with centralized authority • Highly dependent on the network connectivity if network of center fails, whole system fails. • Transparency
Do We Need Blockchain? • For a transaction without any centralized authority. • To allow digital information to be recorded and distributed, but not edited.
• Blockchain is a distributed, and public digital ledger that is used to record transactions across many computers so that any involved record cannot be altered without the alteration of all subsequent blocks. • It is also a secure and immutable way of storing data that is resistant to manipulation and fraud, making it an ideal technology for financial transactions, asset tracking, and data storage. What is Blockchain?
Types Of Blockchain • Public • Private • Hybrid • Consortium .
Blockchain (1).pptx
Does Blockchain Work? • Blockchain works by creating a digital ledger of transactions that are grouped together in blocks. Each block is linked to the previous block in the chain, creating a chain of blocks. This chain is secured using cryptographic principles, making it virtually impossible to alter or remove any of the blocks. • The data stored in the blocks is cryptographically secured and immutable, meaning that it cannot be changed or manipulated. This makes blockchain technology a secure and reliable way of storing and transferring data.
About Block chain • User has 2 keys • private • public • Private key is only known to user. • public key is known to everyone in system. • Bitcoins use SHA256 algotithm • Ethereum use ETHASH algotithm
About Block chain
A consensus algorithm is a procedure through which all the peers of the Blockchain network reach a common agreement about the present state of the distributed ledger. How Transaction Is Approved?
Bitcoin Mining • Bitcoin mining is the process by which Bitcoin transactions are validated digitally on the Bitcoin network and added to the blockchain ledger. • And validators of this transactions are refered as miners. • And miners rewarded with bitcoin for their work
Types of consensus algorithm • Proof Of work • Proof Of Stack • Proof Of Burn • Proof Of Elapsed Time
Proof of Work • Proof of work (PoW) is a form of adding new blocks of transactions to a cryptocurrency's blockchain. The work, in this case, is generating a hash that matches the target hash for the current block.
System For PoW
System For PoW
System For PoW
Blockchain (1).pptx
Proof of Stack
• instead of investing in expensive hardware equipment, validators ‘burn’ coins by sending them to an address from where they are irretrievable. By committing the coins to an unreachable address, validators earn the privilege to mine on the system based on a random selection process. Thus, burning coins here means that validators have a long-term commitment in exchange for their short- term loss. The more coins they burn, the better their chances of being selected to mine the next block. Proof Of Burn
Proof Of Burn
Proof Of Elapsed Time • It is widely used in permissioned Blockchain networks .In this algorithm, every validator on the network gets a fair chance to create their own block. All the nodes do so by waiting for a random amount of time, adding proof of their wait in the block. • Person with having least waiting time will win and can add block to the blockchain.
General Idea Of Profit From Mining
Blockchain (1).pptx
• financial transactions • asset tracking • data storage • It can also be used to create decentralized applications,which are applications that are not controlled by any single entity. • Blockchain technology is also being used to create digital currencies, such as Bitcoin, which are decentralized and secure. This makes them ideal for financial transactions and asset tracking. Applications of blockchain
Advantages of Blockchain • Transparenc y • Censorship • Traceability • Can be use for Voting Fund raising Supply Chain Management Asset Ownership Internal Voting
Disadvantages of Blockchain • Speed and performance • High implementation cost • Low TPS
• In conclusion, blockchain technology offers a number of advantages, including immutability, transparency, cost reduction, increased efficiency, and improved security. These advantages make it a secure and reliable way to store and transfer data, and can help businesses save time and money. • Blockchain technology is still in its early stages, but it has the potential to revolutionize the way businesses operate. As the technology continues to evolve, it is likely that more businesses will adopt it and take advantage of its many benefits. Conclusion
• Coinbase Institutional. • Ethereum. • Kaleido. • Azure Blockchain Workbench. • IBM Blockchain Platform. • Platform 6. • Corda. • Hyperledger Top Blockchain Platforms
Blockchain (1).pptx
Blockchain (1).pptx

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Blockchain (1).pptx

  • 1. Blockchain Meet P Barasara CSD 2nd Year 1210213050100
  • 2. • What is Blockchain? • How Does Blockchain Work? • Applications of Blockchain • Advantages • Disadvantages • Conclusion Points Of Discussion • Types of Network
  • 4. Why Do We Need Blockchain When We Have Centralized Network For Transaction?
  • 5. • Transaction Can Be Failed Due To • Technical Issues • Account Hacked • Transfer Limits Problems with centralized authority • Highly dependent on the network connectivity if network of center fails, whole system fails. • Transparency
  • 6. Do We Need Blockchain? • For a transaction without any centralized authority. • To allow digital information to be recorded and distributed, but not edited.
  • 7. • Blockchain is a distributed, and public digital ledger that is used to record transactions across many computers so that any involved record cannot be altered without the alteration of all subsequent blocks. • It is also a secure and immutable way of storing data that is resistant to manipulation and fraud, making it an ideal technology for financial transactions, asset tracking, and data storage. What is Blockchain?
  • 8. Types Of Blockchain • Public • Private • Hybrid • Consortium .
  • 10. Does Blockchain Work? • Blockchain works by creating a digital ledger of transactions that are grouped together in blocks. Each block is linked to the previous block in the chain, creating a chain of blocks. This chain is secured using cryptographic principles, making it virtually impossible to alter or remove any of the blocks. • The data stored in the blocks is cryptographically secured and immutable, meaning that it cannot be changed or manipulated. This makes blockchain technology a secure and reliable way of storing and transferring data.
  • 11. About Block chain • User has 2 keys • private • public • Private key is only known to user. • public key is known to everyone in system. • Bitcoins use SHA256 algotithm • Ethereum use ETHASH algotithm
  • 13. A consensus algorithm is a procedure through which all the peers of the Blockchain network reach a common agreement about the present state of the distributed ledger. How Transaction Is Approved?
  • 14. Bitcoin Mining • Bitcoin mining is the process by which Bitcoin transactions are validated digitally on the Bitcoin network and added to the blockchain ledger. • And validators of this transactions are refered as miners. • And miners rewarded with bitcoin for their work
  • 15. Types of consensus algorithm • Proof Of work • Proof Of Stack • Proof Of Burn • Proof Of Elapsed Time
  • 16. Proof of Work • Proof of work (PoW) is a form of adding new blocks of transactions to a cryptocurrency's blockchain. The work, in this case, is generating a hash that matches the target hash for the current block.
  • 22. • instead of investing in expensive hardware equipment, validators ‘burn’ coins by sending them to an address from where they are irretrievable. By committing the coins to an unreachable address, validators earn the privilege to mine on the system based on a random selection process. Thus, burning coins here means that validators have a long-term commitment in exchange for their short- term loss. The more coins they burn, the better their chances of being selected to mine the next block. Proof Of Burn
  • 24. Proof Of Elapsed Time • It is widely used in permissioned Blockchain networks .In this algorithm, every validator on the network gets a fair chance to create their own block. All the nodes do so by waiting for a random amount of time, adding proof of their wait in the block. • Person with having least waiting time will win and can add block to the blockchain.
  • 25. General Idea Of Profit From Mining
  • 27. • financial transactions • asset tracking • data storage • It can also be used to create decentralized applications,which are applications that are not controlled by any single entity. • Blockchain technology is also being used to create digital currencies, such as Bitcoin, which are decentralized and secure. This makes them ideal for financial transactions and asset tracking. Applications of blockchain
  • 28. Advantages of Blockchain • Transparenc y • Censorship • Traceability • Can be use for Voting Fund raising Supply Chain Management Asset Ownership Internal Voting
  • 29. Disadvantages of Blockchain • Speed and performance • High implementation cost • Low TPS
  • 30. • In conclusion, blockchain technology offers a number of advantages, including immutability, transparency, cost reduction, increased efficiency, and improved security. These advantages make it a secure and reliable way to store and transfer data, and can help businesses save time and money. • Blockchain technology is still in its early stages, but it has the potential to revolutionize the way businesses operate. As the technology continues to evolve, it is likely that more businesses will adopt it and take advantage of its many benefits. Conclusion
  • 31. • Coinbase Institutional. • Ethereum. • Kaleido. • Azure Blockchain Workbench. • IBM Blockchain Platform. • Platform 6. • Corda. • Hyperledger Top Blockchain Platforms