blockchain technology ppt.ppsxn

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Contents
 The history of bitcoin
 Bitcoin vs Blockchain
 What is a blockchain technology
 Bitcoin ecosystem
 Cutting the middleman
 Building Consensus
 Creating witnesses
 Key features
 Challenges

The history of Bitcoin
2008
Idea was published
under the pseudonym
Satoshi Nakamoto
2009
Start of the Bitcoin
Network
2010
Fist cryptocurrency
stock exchange is
launched
2011
One Bitcoin equals
one USD

The history of Bitcoin
2013
1 Bitcoin equals
100 USD
2014
Microsoft accepts
Bitcoin
2017
1 Bitcoin equals
10,000 USD

Bitcoin ≠ blockchain
Is an application of
blockchain technology
Is the underlying datastructure,
which can be used for many
things, including
cryptocurrencies

What is A Blockchain?
A blockchain is a growing list of data blocks that are linked together.
Data
Reference
Data
Reference
Data
Reference

Bitcoin ecosystem
A public network in which anyone,
including a malicious participant, can
participate without restriction.
Even though it is not organized by a
central authority, it works!

Bitcoin ecosystem
Increased
Bitcoin Value
More Security
More
Participants

Cutting the middleman
E.g. direct transfer of
Bitcoins

Building Consensus
After a finite time, all
participants agree on a
single state.
E.g. on who owns how
many Bitcoin.

CREATING WITNESSES
If something is published on
a public blockchain, all
participants become
witnesses.
This is used, for example, by
OriginStamp to create a
secure timestamp for
documents.

Key Features
Write-only, immutable,
transparent data storage
Decentralized, no need for
intermediaries
Consistent state across all
participants
Resistant against malicious
participants
Open to everyone

challenges
Energy consumption
Scalability
Money laundering
Personal responsibility

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