2. WHAT IS
BLOCKCHAIN?
•A blockchain is a data structure, which is a growing list of
data blocks.
•The data blocks are linked together, such that old blocks
cannot be removed or altered.
3. INTO THE
PAST
BLOCK CHAIN NETWORK WAS INTRODUCED IN
2008 BY A MAN NAMED Satoshi Nakamoto.
HE IMPLIMENTED THE BLOCKCHAIN
TECHNOLOGY IN DECENTRALISED
DIGITAL CURRENCY WHICH
TODAY AS HELPED MAKE MANY
DECENTRALISED
APPS AKA DAOS.
5. CUTTING THE
MIDDLEMAN
Blockchain technology makes middlemen (so-called trusted
third parties) obsolete in many applications. Bitcoin can
serve as an example here. Bitcoins are not routed via a
central instance, e.g. a bank, but can be transferred directly
between the parties.
6. KEY FEATURES OF THE
TECHNOLOGY
•A public blockchain has some characteristic features:
•Write-only, immutable, transparent data storage.
•Decentralized, no need for intermediaries.
•Consistent state across all participants.
•Resistant against malicious participants.
•Open to everyone.
7. CHALLENGES FACED
THE TECHNOLOGY AT THE MOMENT FACES A LOT
OF CHALLENGES, DUE THE DIFFERENT VIEWS AT
THE GOVERNENCE LEVEL, AS THEY SUSPECT
ILLEGAL TRANSECTIONS AND TAX EVASION.