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Session 3 introduction blockchain by franco 22 januari

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AGENDA
 The Trust Paradigm Shift
 Evolution of Blockchain & Smart Contracts
 Blockchain What is it & How it works
 Cla...

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About Me

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The Trust Paradigm Shift

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Introduction to Blockchain
Introduction to Blockchain
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Session 3 introduction blockchain by franco 22 januari

  1. 1. AGENDA  The Trust Paradigm Shift  Evolution of Blockchain & Smart Contracts  Blockchain What is it & How it works  Classification of Blockchains  Smart Contract What is it & How it works  Use cases --------------------ADDENDUM--------------------  Consensus & Hash pointers Introduction to Blockchain & Smart Contracts Franco De Vita 22 January 2021
  2. 2. About Me
  3. 3. The Trust Paradigm Shift
  4. 4. Evolution of Blockchain & Smart Contracts 1994 2009 2012 2013 2014 2015 2016 2017 2018 2019 2020 rise testing maturity mass adoption Nick Szabo Bitcoin Satoshi Nakamoto Bitcoin basic smart contract proof of concept early adopters law & regulations applications of new services in various sectors 1991 Cryptographically secured chain of blocks 1998 Bit Gold Decentralized digital currency Permissioned Blockchains
  5. 5. Blockchain What is it A transparent and distributed append-only repository, implemented as a P2P network Note: some blockchains are not transparent,on a permissioned blockchain data is shared on a need to know basis Fault tolerant
  6. 6. Blockchain What is it Properties:  Linked list of blocks  Each block contains a set of transactions  Each block is timestamped  List of blocks is shared across nodes  Immutable
  7. 7. Blockchain How it works Each transaction is digital signed Each transaction is validated by a selected group of nodes and grouped together in a temporary block. A node is selected (in accordance with the used consensus protocol) to forge the next block on the chain. The next block is broadcasted and arithmetically linked to the chain of each node as a permanent and immutable record of transactions. SIGNATURE VALIDATION DISTRIBUTION 3
  8. 8. Classification of Blockchains Bitcoin Ethereum Altcoins .... Hyperledger MultiChain BigchainDB ... Permissioned Permissionless Open Access Consensus (Proof-of-Work) Closed Ecosysteem Multiple types Consensus
  9. 9. Permissionless vs. Permissioned Scalability Performance Decentralized Trust Supervision Resistant Transparency
  10. 10. Smart Contract What is it Software procedures that execute the terms of a set of rules, which are agreed upon by the involved parties. The code of a smart contract is stored on a blockchain, therefore it is immutable. The code is executed on multiple nodes. As a result of which, smart contract needs to be:  Deterministic  Terminable  Isolated
  11. 11. Micro insurance contract Micro { function Micro() { // initialisation @ deployment // constant fee= € x,- // ... } function confirmInsurance() { // initiated by user // confirmation conditions agreed // payment has been made // registration } function confirmDelay() { // initiated by backend // Schiphol // confirmation delay > 2 hours // payment of agreed fee } }
  12. 12. Smart Contract How it works contract Micro { … } Micro.confirmInsurance() Micro.confirmDelay() Deployment Initiated by user (browser) Initiated by backend Schiphol t0 t1 t2
  13. 13. 1. Create 2. Deployment 3. Execution Coding (Defining conditions between parties) Smart Contract is stored in a block & execution of the initialisation function An event (condition) triggers a specific function of the Smart Contract Execution ends when all conditions, as agreed in step 1, are met or the smart Contract is aborted Central authority and third parties compliancy and reporting Smart Contract Lifecycle
  14. 14. Fraud: editing use-by dates and mixing older poultry with fresher birds
  15. 15. © 2019-2020 ∙ wallet79 ∙ all rights reserved wallet79 ∙ using my talents Supply Blockchain Ecosystem
  16. 16. © 2019-2020 ∙ wallet79 ∙ all rights reserved wallet79 ∙ using my talents
  17. 17. © 2019-2020 ∙ wallet79 ∙ all rights reserved wallet79 ∙ using my talents Self-Sovereign Identity
  18. 18. © 2019-2020 ∙ wallet79 ∙ all rights reserved wallet79 ∙ using my talents Sovrin ∙ Hyperledger INDY Public/Permissioned
  19. 19. © 2019-2020 ∙ wallet79 ∙ all rights reserved wallet79 ∙ using my talents Order-ID Order-ID ORDER & PAYMENT ADDRESS PERMISSION …. Request PERMISSION Order-ID Anonymous online purchase
  20. 20. © 2019-2020 ∙ wallet79 ∙ all rights reserved wallet79 ∙ using my talents MY DATA ACCESS TYPE 1: One-time 2: Contract duration 3: Re-call 4: Expiration Date Data request (PUBLIC KEY) - Name - Zip - Address Nr. - Gender Select ACCESS TYPE Blockchain Transaction - Encrypt Message (Requester PUBLIC KEY) o Approved DATA o ACCESS TYPE - Send to Requester Retrieve data - Decrypt (PRIVATE KEY) - Process Data 1 2 3 5 Select DATA to share SEND 4 Public Registers X Franco De Vita Havenstraat 26 1271 AE Male Anonymous online purchase
  21. 21. © 2019-2020 ∙ wallet79 ∙ all rights reserved wallet79 ∙ using my talents Thank You!
  22. 22. © 2019-2020 ∙ wallet79 ∙ all rights reserved wallet79 ∙ using my talents Franco De Vita ∙ franco@vita.nl ∙ +31 6 5467 3500 Consensus & Hash Pointer
  23. 23. one way cryptographic hash function One way cryptographic hash function input hash() 9014b4cd68f8bce3f2d15e8c8727cbeb22444d5d62e8f9a45dd0b8dd174ef788 302fd87968d492ee0d53c71ddb21eaad86740e2382cbaef230bac879b19fd16c digest | hash Possible inputs Possible outputs Hash function
  24. 24. merkle root … … … … merkle root previous block hash hash() Block hash … … … … 0000000000000000Df9d1cff51866350a17ea4005507773e55b7918623b53350 0000000000000000Df9d1cff51866350a17ea4005507773e55b7918623b53350 Pointer to previous block
  25. 25. Pointer to previous transaction CA -> B Pay CoinA to pkB SignatureA Hash pointer PrevTrans A
  26. 26. What is consensus Agreement on the state of the ledger When is a transaction valid? Which transactions have taken place? When did a transaction take place? When is a block (set of transactions) valid? 3
  27. 27. When is a transaction valid? CA -> B CA -> X Pay CoinA to pkB SignatureA Hash pointer Pay CoinA to pkX SignatureA Hash pointer PrevTran sA Double- spend attempt
  28. 28. Which transactions have taken place? CA -> B CA -> X 1 2 3 Nr. of confirmations Double- spend attempt
  29. 29. When did a transaction take place? coinbase transaction merkle root timestamp nonce nBits | target threshold previous block hash version
  30. 30. coinbase transaction 9d10aa52ee949386ca9385695f04ede270dda20810decd1bc9b048aaab314 coinbase transaction merkle root previous block hash hash() Block hash 0000000000000000Df9d1cff51866350a17ea4005507773e55b7918623b53350 When is a block valid? timestamp nonce version nBits | target threshold 0000000000000000Df9d1cff51866350a17ea4005507773e55b7918623b53350 24d95a54 fe9f0864 02000000 30c31b18

Editor's Notes

  • Two Sisters Food Group
  • Consensus is a process whereby the peers synchronise the data on the blockchain

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