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Blockchain: Exploring the Fundamentals and Promising Potential

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Presented at InnoTech San Antonio 2018. All rights reserved.

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Blockchain: Exploring the Fundamentals and Promising Potential

  1. 1. Blockchain Exploring the Fundamentals and Promising Potential Kurt Kelley 4/11/2018
  2. 2. Agenda Definition Elements Benefits History
  3. 3. Definition A blockchain is an immutable distributed ledger that contains cryptographically hashed blocks of data stored in chronological order and used to record transactions between parties
  4. 4. • Satoshi Nakamoto • 2008 White Paper • P2P digital currency transactions • Vitalik Buterin • 2015 Launch • Distributed Computing • Smart Contract OS • Linux Foundation • 2017 Launch • 5 Frameworks • Enterprise Focus History Bitcoin – v1.0 Ethereum – v2.0 Hyperledger – v3.0
  5. 5. • Replication at every node • Data stored is immutable • Chronological by hashes Elements Cryptography Smart Contracts Consensus Distributed Ledger • Nodes validate transactions • Custom methods to fit need • Trustless framework • SHA256 • Public and Private Keys • Elliptic Curve (ECC) • Embedded in ledger • Process with conditions • Reduce redundancy
  6. 6. Data Hash Previous Hash Proof of Work Block ID Timestamp Data Hash Previous Hash Proof of Work Block ID Timestamp Block Anatomy
  7. 7. 01 02 04 03 05 06 07 08 Verify Transactions Group Valid Transactions Into Candidate Block Insert Hash From Most Recent Block Solve The Proof-Of-Work Attach Candidate Block To Local Blockchain Propagate Solution To The Network Await Solution Verification By Other Nodes Get Reward Start Again Mining Demystified
  8. 8. Benefit - Elements Element Benefit Cryptography Secure Distributed Ledger Resilient Consensus Robust Smart Contracts Automation
  9. 9. Benefit - Features Feature Benefit Identity Trust Provenance Accountability Transparency Innovation Immutable Finality
  10. 10. Kurt Kelley kurt@exceleratedtc.com 214-425-1062 Twitter @kurtkelley LinkedIn www.linkedin.com/in/kurtkelleydfw Thank You

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