Blockchain Technology.pptx

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Blockchain technology

BLOCKCHAIN TECHNOLOGY

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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1. BLOCKCHAIN TECHNOLOGY

2. 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

3. THE HISTORY OF BITCOIN 2013 1 Bitcoin equals 100 USD 2014 Microsoft accepts Bitcoin 2017 1 Bitcoin equals 10,000 USD

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

5. WHAT IS A BLOCKCHAIN? A blockchain is a growing list of data blocks that are linked together. Data Reference Data Reference Data Reference

6. 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!

7. BITCOIN ECOSYSTEM Increased Bitcoin Value More Security More Participants

8. CUTTING THE MIDDLEMAN E.g. direct transfer of Bitcoins

9. BUILDING CONSENSUS After a finite time, all participants agree on a single state. E.g. on who owns how many Bitcoin.

10. 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.

11. 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

12. CHALLENGES Energy consumption Scalability Money laundering Personal responsibility