Blockchain is a distributed ledger technology that allows for the safe distribution of a ledger across multiple nodes. It works by having each transaction digitally signed and added in a "block" along with a proof of work. This prevents double spending and allows nodes to reach consensus on the transaction history without a centralized authority. Smart contracts enable decentralized applications to run transactions automatically according to the program. However, first generation blockchains face challenges around centralization, scalability, and smart contract quality. New solutions aim to address these through alternative consensus methods, off-chain transactions, and designed smart contract languages.
Bitcoin is the very first cryptocurrency and blockchain technology introduced to the world. Satoshi Nakamoto is behind the creation of Bitcoin technology. It’s currently one of the popular cryptocurrencies on the market.
Bitcoin uses blockchain technology to function and offer all of its features to the users. The working principle of Bitcoin depends heavily on the mining process. Bitcoin uses miners to process all of the transactions happening on the blockchain and give rewards based on that. The platform uses a consensus mechanism called Proof-of-Work to help miners verify and execute all the transactions.
Here, you will understand what this Bitcoin technology really offers, its basic characteristics, working principles, and advantages. We at 101 Blockchains are offering better resources to help you fully comprehend the topic.
The following course will help you understand the Bitcoin Technology->
Getting Started with Bitcoin Technology
https://academy.101blockchains.com/courses/getting-started-with-bitcoin-technology
Learn more about the certification courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Expert (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
This is an introduction to the exciting technology powering innovation in finance, contracting and many technology industries. This slideshow touches on the blockchain; what it is, its applications, it's disruptions and future cycle projections. The slideshow also touches on bitcoin as a popular application of blockchain technology.
Blockchain fundamentals based on bas w_v1.1.pptxHenk van Cann
The knowledge of Blockchain Fundamentals empowers you to decide for yourself what is a pointless blockchain application and what not. What is a safe crypto currency and what not. How to handle keys; the do's and don'ts. You need to thoroughly understand the innovative technology you use. Blockchain is currently in its infancy and is rough gemstone to many people; ready to be polished.
A blockchain is a decentralized, distributed and incorruptible digital ledger that is used to record transactions across many computers. This presentation covers distributed ledger technology (DLT) or blockchain technology terms, fundamentals, and architecture. Includes discussion of hash functions, merkle tree, digital signature, proof of work, nonce, cryptography, double spend and transactions.
Blockchain Interview Questions and Answers | Blockchain Technology | Blockcha...Edureka!
** Blockchain Training: https://www.edureka.co/blockchain-training **
This Edureka's Blockchain tutorial consists of the frequently asked Blockchain Interview Questions which will help you in the preparation of Blockchain Interviews. Below are the topics covered in this tutorial:
1. Blockchain Market Trends
2. General Blockchain Interview Questions
3. Advanced Blockchain Interview Questions
Here is the link to the Blockchain blog series: https://goo.gl/DPoAHR
You can also refer this playlist on Blockchain: https://goo.gl/V5iayd
This presentation Blockchain will help you understand what is block, how to add 2 blocks at the same time, forks, areas where Blockchain is used, future of Blockchain and at the end you will also see a use case on smart contract. A blockchain is a digitized, decentralized, public ledger of Bitcoin transactions. The technology verifies transactions and creates a “chain” of blocks of data including a timestamp that is linked to other blocks so one block can’t be changed. In simple words, Blockchain is a list of records (blocks) which stores data publicly and in chronological order and mining is the process of adding a block to the Blockchain. Now, let us get started and understand what is Blockchain and its features.
Below topics are explained in this Blockchain presentation:
1. The candidate Block
2. Byzantime fault tolerance
3. Adding 2 blocks at the same time
4. Forks
- Soft forks
- Hard forks
5. Other areas where Blockchain is used
6. The future of Blockchain
7. Blockchain jobs
8. Use case: Movie ratings smart contract
Simplilearn’s Blockchain Certification Training has been designed for developers who want to decipher the global craze surrounding Blockchain, Bitcoin and cryptocurrencies. You’ll learn the core structure and technical mechanisms of Bitcoin, Ethereum, Hyperledger and Multichain Blockchain platforms, use the latest tools to build Blockchain applications, set up your own private Blockchain, deploy smart contracts on Ethereum and gain practical experience with real-world projects.
Why learn Blockchain?
Blockchain technology is the brainchild of Satoshi Nakamoto, which enables digital information to be distributed. A network of computing nodes makes up the Blockchain. Durability, robustness, success rate, transparency, incorruptibility are some of the enticing characteristics of Blockchain. By design, Blockchain is a decentralized technology which is used by a global network of the computer to manage Bitcoin transactions easily. Many new business applications will result in the usage of Blockchain such as Crowdfunding, smart contracts, supply chain auditing, etc.
The Blockchain Certification Training Course is recommended for:
1. Developers
2. Technologists interested in learning Ethereum, Hyperledger and Blockchain
3. Technology architects wanting to expand their skills to Blockchain technology
4. Professionals curious to learn how Blockchain technology can change the way we do business
5. Entrepreneurs with technology background interested in realizing their business ideas on the Blockchain
Learn more at: https://www.simplilearn.com/
Bitcoin is the very first cryptocurrency and blockchain technology introduced to the world. Satoshi Nakamoto is behind the creation of Bitcoin technology. It’s currently one of the popular cryptocurrencies on the market.
Bitcoin uses blockchain technology to function and offer all of its features to the users. The working principle of Bitcoin depends heavily on the mining process. Bitcoin uses miners to process all of the transactions happening on the blockchain and give rewards based on that. The platform uses a consensus mechanism called Proof-of-Work to help miners verify and execute all the transactions.
Here, you will understand what this Bitcoin technology really offers, its basic characteristics, working principles, and advantages. We at 101 Blockchains are offering better resources to help you fully comprehend the topic.
The following course will help you understand the Bitcoin Technology->
Getting Started with Bitcoin Technology
https://academy.101blockchains.com/courses/getting-started-with-bitcoin-technology
Learn more about the certification courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Expert (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
This is an introduction to the exciting technology powering innovation in finance, contracting and many technology industries. This slideshow touches on the blockchain; what it is, its applications, it's disruptions and future cycle projections. The slideshow also touches on bitcoin as a popular application of blockchain technology.
Blockchain fundamentals based on bas w_v1.1.pptxHenk van Cann
The knowledge of Blockchain Fundamentals empowers you to decide for yourself what is a pointless blockchain application and what not. What is a safe crypto currency and what not. How to handle keys; the do's and don'ts. You need to thoroughly understand the innovative technology you use. Blockchain is currently in its infancy and is rough gemstone to many people; ready to be polished.
A blockchain is a decentralized, distributed and incorruptible digital ledger that is used to record transactions across many computers. This presentation covers distributed ledger technology (DLT) or blockchain technology terms, fundamentals, and architecture. Includes discussion of hash functions, merkle tree, digital signature, proof of work, nonce, cryptography, double spend and transactions.
Blockchain Interview Questions and Answers | Blockchain Technology | Blockcha...Edureka!
** Blockchain Training: https://www.edureka.co/blockchain-training **
This Edureka's Blockchain tutorial consists of the frequently asked Blockchain Interview Questions which will help you in the preparation of Blockchain Interviews. Below are the topics covered in this tutorial:
1. Blockchain Market Trends
2. General Blockchain Interview Questions
3. Advanced Blockchain Interview Questions
Here is the link to the Blockchain blog series: https://goo.gl/DPoAHR
You can also refer this playlist on Blockchain: https://goo.gl/V5iayd
This presentation Blockchain will help you understand what is block, how to add 2 blocks at the same time, forks, areas where Blockchain is used, future of Blockchain and at the end you will also see a use case on smart contract. A blockchain is a digitized, decentralized, public ledger of Bitcoin transactions. The technology verifies transactions and creates a “chain” of blocks of data including a timestamp that is linked to other blocks so one block can’t be changed. In simple words, Blockchain is a list of records (blocks) which stores data publicly and in chronological order and mining is the process of adding a block to the Blockchain. Now, let us get started and understand what is Blockchain and its features.
Below topics are explained in this Blockchain presentation:
1. The candidate Block
2. Byzantime fault tolerance
3. Adding 2 blocks at the same time
4. Forks
- Soft forks
- Hard forks
5. Other areas where Blockchain is used
6. The future of Blockchain
7. Blockchain jobs
8. Use case: Movie ratings smart contract
Simplilearn’s Blockchain Certification Training has been designed for developers who want to decipher the global craze surrounding Blockchain, Bitcoin and cryptocurrencies. You’ll learn the core structure and technical mechanisms of Bitcoin, Ethereum, Hyperledger and Multichain Blockchain platforms, use the latest tools to build Blockchain applications, set up your own private Blockchain, deploy smart contracts on Ethereum and gain practical experience with real-world projects.
Why learn Blockchain?
Blockchain technology is the brainchild of Satoshi Nakamoto, which enables digital information to be distributed. A network of computing nodes makes up the Blockchain. Durability, robustness, success rate, transparency, incorruptibility are some of the enticing characteristics of Blockchain. By design, Blockchain is a decentralized technology which is used by a global network of the computer to manage Bitcoin transactions easily. Many new business applications will result in the usage of Blockchain such as Crowdfunding, smart contracts, supply chain auditing, etc.
The Blockchain Certification Training Course is recommended for:
1. Developers
2. Technologists interested in learning Ethereum, Hyperledger and Blockchain
3. Technology architects wanting to expand their skills to Blockchain technology
4. Professionals curious to learn how Blockchain technology can change the way we do business
5. Entrepreneurs with technology background interested in realizing their business ideas on the Blockchain
Learn more at: https://www.simplilearn.com/
Blockchain Challenge, convegno promosso da The Blockchain Council con il contributo di: Associazione Italiana Sviluppo Marketing, Excellence Consulting, Reti.
How Blockchain Is Different From Cryptocurrency?Endive Software
Yes, there are some differences, but at the core Blockchain and Cryptocurrency are interconnected. Bitcoin (Cryptocurrency) is the first and most successful application of Blockchain. Initially, they were used interchangeably, but with advancement, some differences can be noticed.
CryptoCurrency is one of the hottest ways to make money right now!
You cannot escape hearing about Bitcoin and all the other CryptoCurrencies and how people are making tons of money buying, holding, and selling CryptoCurrency.
Would you like to join an exclusive group of people in the know of the hottest new market almost nobody knows? You can, with this Cryptocurrency Secrets eBook.
Blockchain And Cryptocurrency : How Blockchain And Cryptocurrency Relate To E...Blockchain Council
Blockchain Council is a renowned platform providing all the certification and Blockchain courses that will help you make an established career in this field.
Blockchain Explained | How Does A Blockchain Work | Blockchain Explained Simp...Simplilearn
This presentation on "Blockchain Explained" will help you understand what is Blockchain, what is Bitcoin, features of Blockchain which include public distributed ledger, hash encryption, proof of work, mining and will also talk about the fields that use Bitcoin. Bitcoin is a decentralized, digital currency. Bitcoins were created as an incentive for processing payments, in which users can offer their power of computing for verifying and recording payments that go into public ledgers. The blockchain of bitcoin enables verification of transactions anytime, anywhere. However, for Bitcoin to succeed, people should gain a deeper understanding of the ways in which Bitcoin works, without letting their preconceived notions distort the digital currency concept. This Blockchain tutorial is designed for such beginners to give them a deep knowledge on how Blockchain and Bitcoin works. Now, lets deep dive into this presentation to understand what Blockchain actually is.
Below topics are explained in this Blockchain tutorial:
1. What is Blockchain?
2. What is Bitcoin?
3. Features of Blockchain
- Public Distributed Ledger
- Hash Encryption
- Proof of Work
- Mining
4. Other fields that use Blockchain
Simplilearn’s Blockchain Certification Training has been designed for developers who want to decipher the global craze surrounding Blockchain, Bitcoin and cryptocurrencies. You’ll learn the core structure and technical mechanisms of Bitcoin, Ethereum, Hyperledger and Multichain Blockchain platforms, use the latest tools to build Blockchain applications, set up your own private Blockchain, deploy smart contracts on Ethereum and gain practical experience with real-world projects.
Why learn Blockchain?
Blockchain technology is the brainchild of Satoshi Nakamoto, which enables digital information to be distributed. A network of computing nodes makes up the Blockchain. Durability, robustness, success rate, transparency, incorruptibility are some of the enticing characteristics of Blockchain. By design, Blockchain is a decentralized technology which is used by a global network of the computer to manage Bitcoin transactions easily. Many new business applications will result in the usage of Blockchain such as Crowdfunding, smart contracts, supply chain auditing, Internet of Things(IoT), etc.
The Blockchain Certification Training Course is recommended for:
1. Developers
2. Technologists interested in learning Ethereum, Hyperledger and Blockchain
3. Technology architects wanting to expand their skills to Blockchain technology
4. Professionals curious to learn how Blockchain technology can change the way we do business
5. Entrepreneurs with technology background interested in realizing their business ideas on the Blockchain
Learn more at - https://www.simplilearn.com
A Quick Start To Blockchain by Seval CaprazSeval Çapraz
Blockchain is one of the most innovative discoveries of the past century.
The first cryptocurrency, Bitcoin, was proposed in 2008 by Satoshi Nakamoto with a white paper.
Today, blockchain technology doesn't need to be implemented. A word that once was foreign has now earned accolades from individuals across the globe. This technology is being talked about by every business and investor. Blockchain started its journey as an underlying Bitcoin exchange technology, and it has gained so much popularity over the years. Everyone speaks about Blockchain, from students to working professionals; but what makes Blockchain so attractive is that you need to know the concepts of Blockchain technology for this.
What is a Cryptocurrency?
What is the Blockchain?
Why the Blockchain now?
Lets Sum this Blockchain!
Why the “Blockchain” is next IT revolution you have not heard of..
Lets talk about Careers in the Blockchain!
5 Industries that Blockchain will Disrupt | Blockchain Technology | Blockchai...Simplilearn
Here are the 5 Industries that Blockchain will disrupt! Blockchain is a distributed ledger technology that underlies cryptocurrencies. It's a technology that holds a lot of promise for the future, and it is already disrupting many industries. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry. Now, let's deep dive into this video to understand the 5 industries that Blockchain will disrupt.
Below are the 5 industries that Blockchain will disrupt and are discussed in this presentation.
1. Banking
2. Cyber Security
3. Supply Chain Management
4. Healthcare
5. Governments
Simplilearn’s Blockchain Certification Training has been designed for developers who want to decipher the global craze surrounding Blockchain, Bitcoin and cryptocurrencies. You’ll learn the core structure and technical mechanisms of Bitcoin, Ethereum, Hyperledger and Multichain Blockchain platforms, use the latest tools to build Blockchain applications, set up your own private Blockchain, deploy smart contracts on Ethereum and gain practical experience with real-world projects.
Why learn Blockchain?
Blockchain technology is the brainchild of Satoshi Nakamoto, which enables digital information to be distributed. A network of computing nodes makes up the Blockchain. Durability, robustness, success rate, transparency, incorruptibility are some of the enticing characteristics of Blockchain. By design, Blockchain is a decentralized technology which is used by a global network of the computer to manage Bitcoin transactions easily. Many new business applications will result in the usage of Blockchain such as Crowdfunding, smart contracts, supply chain auditing, Internet of Things(IoT), etc.
This Blockchain Certification course offers a hands-on training covering relevant topics in cryptocurrency and the wider Blockchain space. From a technological standpoint, you will develop a strong grasp of core Blockchain platforms, understand what Bitcoin is and how it works, learn key vocabulary and concepts commonly used when discussing Blockchain and understand why engineers are motivated to create an app with Ethereum. Hands-on exercises and projects will give you practical experience in real-world Blockchain development scenarios.
After completing this course, you will be able to:
1. Apply Bitcoin and Blockchain concepts in business situations
2. Build compelling Blockchain applications using the Ethereum Blockchain
3. Design, test and deploy secure Smart Contracts
4. Use the latest version of Ethereum development tools (Web3 v1.0)
5. Develop Hyperledger Blockchain applications using Composer Framework
6. Model the Blockchain applications using Composer modeling language
Learn more at: https://www.simplilearn.com
Blockchain: An Introduction, by Ruben Merre NGRAVERuben Merre
Blockchain - An Introduction is an extensive intro to blockchain technology and cryptocurrencies. Ruben Merre, CEO of blockchain hardware wallet tech company Ngrave, uses this slide deck for University lectures, introducing university level college students to the basics and the inner workings of blockchain technology.
Blockchain is one of the trending technology that is catching up in the tech space. It solves multiple use cases where the data integrity should be high. In this ppt, the author has worked on explaining the concepts in a simple and elegant way
***** Blockchain Training : https://www.edureka.co/blockchain-training *****
This Edureka video on "Blockchain Explained" is to guide you through the fundamentals of the new revolutionary technology called Blockchain and its defining concepts. Below are the topics covered in this tutorial:
1. History of blockchain
2. What is Blockchain
3. Traditional Transaction vs Blockchain
4. How Blockchain Works
5. Benefits of Blockchain
6. Blockchain Transaction Demo
Here is the link to the Blockchain blog series: https://goo.gl/DPoAHR
You can also refer this playlist on Blockchain: https://goo.gl/V5iayd
Blockchain overview, use cases, implementations and challengesSébastien Tandel
Most know about Bitcoin, the well-known crypto-currency. Less know the details about the underlying and enabling technology, Blockchain.
Hopefully, this presentation provides enough insights to understand blockchain concepts and why it's perceived to potentially disrupt many market segments, from retail to governments, from finance to health care. At last, I hope to brush fairly the many challenges of this rather new technology.
A presentation explaining the concepts of Blockchain. It covers the introduction to blockchain, types of blockchain, process of adding blocks in bitcoin blockchain, hyperledger block structure, use cases of blockchain explained.
Blockchain Developer | How to Become a Blockchain Developer? | Blockchain Tra...Edureka!
( Blockchain Training: https://www.edureka.co/blockchain-training )
This Edureka Blockchain Training tutorial will give you a complete fundamental understanding on how to become a Blockchain Developer. This video helps you realize who a Blockchain Developer is, and how to become one yourself!
Edureka Blockchain Tutorial Playlist: https://www.youtube.com/playlist?list=PL9ooVrP1hQOFJblZm3OdcVV-H6Z8V7HP1
Cork Blockchain #1 - Introduction to Blockchain and Permissioned BlockchainsJohannes Ahlmann
Slides for Cork Blockchain meetup #1.
Johannes Ahlmann from claru.io presented on the basics of blockchain and permissioned blockchain in particular.
Find more information on http://corkblockchain.com
Blockchain Ecosystem and Cryptocurrency RegulationsAmir Rafati
A blockchain is a general digital ledger of transactions that are executed on the network, e.g. using Bitcoin to buy a cup of coffee is a transaction.
All users of the network, ‘Nodes’, have a copy of the transaction records and can access them freely, a role previously played by centralized institutions. Therefore, the blockchain network is ‘decentralized’.
Can we safely adapt the construction of permissionless blockchain to user dem...I MT
"Can we safely adapt the construction of permissionless blockchain to user demand ?" par Emmanuelle ANCEAUME (CNRS), lors de la journée Futur & Ruptures du 31 janvier 2019.
Blockchain Challenge, convegno promosso da The Blockchain Council con il contributo di: Associazione Italiana Sviluppo Marketing, Excellence Consulting, Reti.
How Blockchain Is Different From Cryptocurrency?Endive Software
Yes, there are some differences, but at the core Blockchain and Cryptocurrency are interconnected. Bitcoin (Cryptocurrency) is the first and most successful application of Blockchain. Initially, they were used interchangeably, but with advancement, some differences can be noticed.
CryptoCurrency is one of the hottest ways to make money right now!
You cannot escape hearing about Bitcoin and all the other CryptoCurrencies and how people are making tons of money buying, holding, and selling CryptoCurrency.
Would you like to join an exclusive group of people in the know of the hottest new market almost nobody knows? You can, with this Cryptocurrency Secrets eBook.
Blockchain And Cryptocurrency : How Blockchain And Cryptocurrency Relate To E...Blockchain Council
Blockchain Council is a renowned platform providing all the certification and Blockchain courses that will help you make an established career in this field.
Blockchain Explained | How Does A Blockchain Work | Blockchain Explained Simp...Simplilearn
This presentation on "Blockchain Explained" will help you understand what is Blockchain, what is Bitcoin, features of Blockchain which include public distributed ledger, hash encryption, proof of work, mining and will also talk about the fields that use Bitcoin. Bitcoin is a decentralized, digital currency. Bitcoins were created as an incentive for processing payments, in which users can offer their power of computing for verifying and recording payments that go into public ledgers. The blockchain of bitcoin enables verification of transactions anytime, anywhere. However, for Bitcoin to succeed, people should gain a deeper understanding of the ways in which Bitcoin works, without letting their preconceived notions distort the digital currency concept. This Blockchain tutorial is designed for such beginners to give them a deep knowledge on how Blockchain and Bitcoin works. Now, lets deep dive into this presentation to understand what Blockchain actually is.
Below topics are explained in this Blockchain tutorial:
1. What is Blockchain?
2. What is Bitcoin?
3. Features of Blockchain
- Public Distributed Ledger
- Hash Encryption
- Proof of Work
- Mining
4. Other fields that use Blockchain
Simplilearn’s Blockchain Certification Training has been designed for developers who want to decipher the global craze surrounding Blockchain, Bitcoin and cryptocurrencies. You’ll learn the core structure and technical mechanisms of Bitcoin, Ethereum, Hyperledger and Multichain Blockchain platforms, use the latest tools to build Blockchain applications, set up your own private Blockchain, deploy smart contracts on Ethereum and gain practical experience with real-world projects.
Why learn Blockchain?
Blockchain technology is the brainchild of Satoshi Nakamoto, which enables digital information to be distributed. A network of computing nodes makes up the Blockchain. Durability, robustness, success rate, transparency, incorruptibility are some of the enticing characteristics of Blockchain. By design, Blockchain is a decentralized technology which is used by a global network of the computer to manage Bitcoin transactions easily. Many new business applications will result in the usage of Blockchain such as Crowdfunding, smart contracts, supply chain auditing, Internet of Things(IoT), etc.
The Blockchain Certification Training Course is recommended for:
1. Developers
2. Technologists interested in learning Ethereum, Hyperledger and Blockchain
3. Technology architects wanting to expand their skills to Blockchain technology
4. Professionals curious to learn how Blockchain technology can change the way we do business
5. Entrepreneurs with technology background interested in realizing their business ideas on the Blockchain
Learn more at - https://www.simplilearn.com
A Quick Start To Blockchain by Seval CaprazSeval Çapraz
Blockchain is one of the most innovative discoveries of the past century.
The first cryptocurrency, Bitcoin, was proposed in 2008 by Satoshi Nakamoto with a white paper.
Today, blockchain technology doesn't need to be implemented. A word that once was foreign has now earned accolades from individuals across the globe. This technology is being talked about by every business and investor. Blockchain started its journey as an underlying Bitcoin exchange technology, and it has gained so much popularity over the years. Everyone speaks about Blockchain, from students to working professionals; but what makes Blockchain so attractive is that you need to know the concepts of Blockchain technology for this.
What is a Cryptocurrency?
What is the Blockchain?
Why the Blockchain now?
Lets Sum this Blockchain!
Why the “Blockchain” is next IT revolution you have not heard of..
Lets talk about Careers in the Blockchain!
5 Industries that Blockchain will Disrupt | Blockchain Technology | Blockchai...Simplilearn
Here are the 5 Industries that Blockchain will disrupt! Blockchain is a distributed ledger technology that underlies cryptocurrencies. It's a technology that holds a lot of promise for the future, and it is already disrupting many industries. The sooner an investor realizes this, the sooner they will see how exactly it might be applied to different industries, giving them a degree of clarity with can help them measure the potential of a project to disrupt a particular industry. Now, let's deep dive into this video to understand the 5 industries that Blockchain will disrupt.
Below are the 5 industries that Blockchain will disrupt and are discussed in this presentation.
1. Banking
2. Cyber Security
3. Supply Chain Management
4. Healthcare
5. Governments
Simplilearn’s Blockchain Certification Training has been designed for developers who want to decipher the global craze surrounding Blockchain, Bitcoin and cryptocurrencies. You’ll learn the core structure and technical mechanisms of Bitcoin, Ethereum, Hyperledger and Multichain Blockchain platforms, use the latest tools to build Blockchain applications, set up your own private Blockchain, deploy smart contracts on Ethereum and gain practical experience with real-world projects.
Why learn Blockchain?
Blockchain technology is the brainchild of Satoshi Nakamoto, which enables digital information to be distributed. A network of computing nodes makes up the Blockchain. Durability, robustness, success rate, transparency, incorruptibility are some of the enticing characteristics of Blockchain. By design, Blockchain is a decentralized technology which is used by a global network of the computer to manage Bitcoin transactions easily. Many new business applications will result in the usage of Blockchain such as Crowdfunding, smart contracts, supply chain auditing, Internet of Things(IoT), etc.
This Blockchain Certification course offers a hands-on training covering relevant topics in cryptocurrency and the wider Blockchain space. From a technological standpoint, you will develop a strong grasp of core Blockchain platforms, understand what Bitcoin is and how it works, learn key vocabulary and concepts commonly used when discussing Blockchain and understand why engineers are motivated to create an app with Ethereum. Hands-on exercises and projects will give you practical experience in real-world Blockchain development scenarios.
After completing this course, you will be able to:
1. Apply Bitcoin and Blockchain concepts in business situations
2. Build compelling Blockchain applications using the Ethereum Blockchain
3. Design, test and deploy secure Smart Contracts
4. Use the latest version of Ethereum development tools (Web3 v1.0)
5. Develop Hyperledger Blockchain applications using Composer Framework
6. Model the Blockchain applications using Composer modeling language
Learn more at: https://www.simplilearn.com
Blockchain: An Introduction, by Ruben Merre NGRAVERuben Merre
Blockchain - An Introduction is an extensive intro to blockchain technology and cryptocurrencies. Ruben Merre, CEO of blockchain hardware wallet tech company Ngrave, uses this slide deck for University lectures, introducing university level college students to the basics and the inner workings of blockchain technology.
Blockchain is one of the trending technology that is catching up in the tech space. It solves multiple use cases where the data integrity should be high. In this ppt, the author has worked on explaining the concepts in a simple and elegant way
***** Blockchain Training : https://www.edureka.co/blockchain-training *****
This Edureka video on "Blockchain Explained" is to guide you through the fundamentals of the new revolutionary technology called Blockchain and its defining concepts. Below are the topics covered in this tutorial:
1. History of blockchain
2. What is Blockchain
3. Traditional Transaction vs Blockchain
4. How Blockchain Works
5. Benefits of Blockchain
6. Blockchain Transaction Demo
Here is the link to the Blockchain blog series: https://goo.gl/DPoAHR
You can also refer this playlist on Blockchain: https://goo.gl/V5iayd
Blockchain overview, use cases, implementations and challengesSébastien Tandel
Most know about Bitcoin, the well-known crypto-currency. Less know the details about the underlying and enabling technology, Blockchain.
Hopefully, this presentation provides enough insights to understand blockchain concepts and why it's perceived to potentially disrupt many market segments, from retail to governments, from finance to health care. At last, I hope to brush fairly the many challenges of this rather new technology.
A presentation explaining the concepts of Blockchain. It covers the introduction to blockchain, types of blockchain, process of adding blocks in bitcoin blockchain, hyperledger block structure, use cases of blockchain explained.
Blockchain Developer | How to Become a Blockchain Developer? | Blockchain Tra...Edureka!
( Blockchain Training: https://www.edureka.co/blockchain-training )
This Edureka Blockchain Training tutorial will give you a complete fundamental understanding on how to become a Blockchain Developer. This video helps you realize who a Blockchain Developer is, and how to become one yourself!
Edureka Blockchain Tutorial Playlist: https://www.youtube.com/playlist?list=PL9ooVrP1hQOFJblZm3OdcVV-H6Z8V7HP1
Cork Blockchain #1 - Introduction to Blockchain and Permissioned BlockchainsJohannes Ahlmann
Slides for Cork Blockchain meetup #1.
Johannes Ahlmann from claru.io presented on the basics of blockchain and permissioned blockchain in particular.
Find more information on http://corkblockchain.com
Blockchain Ecosystem and Cryptocurrency RegulationsAmir Rafati
A blockchain is a general digital ledger of transactions that are executed on the network, e.g. using Bitcoin to buy a cup of coffee is a transaction.
All users of the network, ‘Nodes’, have a copy of the transaction records and can access them freely, a role previously played by centralized institutions. Therefore, the blockchain network is ‘decentralized’.
Can we safely adapt the construction of permissionless blockchain to user dem...I MT
"Can we safely adapt the construction of permissionless blockchain to user demand ?" par Emmanuelle ANCEAUME (CNRS), lors de la journée Futur & Ruptures du 31 janvier 2019.
Understanding Proof of Work (PoW) and Proof of Stake (PoS) AlgorithmsGautam Anand
We will focus on understanding "Proof of Stake (PoS)" Algorithm, how it different from "Proof of Work" algorithm, the performance benefits and security overview. We will also discuss the upcoming blockchain protocols that are planning to move to PoS.
Blockchain general presentation nov 2017 v engDavid Vangulick
These slides are used to introduce the concept of blockchain and how this technology can be used for peer to peer energy exchange linked with the wholesale energy market
Blockchain technology is currently taking over the world with its amazing features. This presentation covers all you need to know about the basics of blockchain technology with beautiful animations
Apart from Proof of Work there are many other Consensus Mechanisms being discussed. What are they and what are their pros and cons. (Proof of Stake, Proof of Elapsed Time, Proof of Authority, Proof of Burn, Proof of Authority, Byzantine Fault Tolerance, Proof of Importance)
Virtual or digital currencies, with Bitcoin chief amongst them, have been gaining momentum and investment over the last couple of years. Offering an almost costless means of making payments around the globe, virtual currencies have the potential to bring significant disruption to the banking industry. This potential is not lost on either Bitcoin startups or banks themselves. But how does Bitcoin actually work? A peer-to-peer network maintains the “blockchain”, an innovative cryptographic protocol which securely mediates payments between parties without mutual trust. This session will step through the structure of the blockchain, showing how it solves the “double spend” problem and allows decentralised processing of financial transactions. Whether Bitcoin will become the currency of the internet or it’s a bubble that is doomed to burst sooner or later, the blockchain itself will change the face of transactional banking and perhaps other industries along the way.
Presentation to the Sydney Financial Mathematics Workshop (11 March 2015)
http://www.qgroup.org.au/content/bitcoin-banking-and-blockchain
A brief introduction to Blockchain and the underlying technology of distributed computing, challenges and future scope.
Copyrights belong to the respective owners, intention is purely for informational/educational purpose
I would like to thank various blogs, technical tutorials, books, videos to help me understand the basics and collate this presentaion
An overview of blockchain and Distributed Ledger Technologies (DLT) including consensus, PoW, PoS, dBFT, DAG, smart contracts, Ethereum, Stellar, Ripple, Hashgraph Hedera, tokens, tokenomics, cryptocurrencies, ICO... taught during the ITU DLT seminar in Bangkok Thailand in September 2018
Blockchain: The New Technology of TrustMarco Segato
An introductory presentation of the technology that is said to change the world, the result of practical research and participation in the Permanent Observatory of the Polytechnic University of Milan.
Connecting The Block Cointelligence Academy by Dr Vince MingCointelligence
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Knowledge engineering: from people to machines and back
01 what is blockchain
1. What is Blockchain?
And how does it work?
Dr. Bastian Blankenburg, UTU Technologies Limited
Nairobi, September 2018
2. Outline
1. Blockchain: a Distributed Ledger Technology
2. Smart Contracts and Decentralised Applications
3. Challenges of 1st and 2nd Generation Blockchains — and some Solutions
4. UTU’s case
5. Conclusion
4. Blockchain: a Distributed Ledger Technology
Source: Blockchain technology. Legislative Council of the Hong Kong Special Administrative Region, 2015,
http://www.legco.gov.hk/research-publications/english/essentials-1516ise15-blockchain-technology.htm, original source given: Oliver Wyman (2015)
• Ledger: history of transactions.
• Examples: Bank account, land registry, Facebook, any classical database
Centralised ledger Distributed ledger
5. How to Safely Distribute a Ledger? (1)
Each node to add only valid transactions:
•digitally sign a hash of the previous transaction and the public key of the next owner.
•recipient can verify the signatures to verify the chain of ownership.
6. How to Safely Distribute a Ledger? (1)
Each node to add only valid transactions:
•digitally sign a hash of the previous transaction and the public key of the next owner.
•recipient can verify the signatures to verify the chain of ownership.
7. How to Safely Distribute a Ledger? (2)
Prevent double-spend:
•Every node needs to know of all transactions.
•Majority of nodes need to agree on single history of the order of transactions.
Solution: time-stamping:
1. Take hash of a set (“block”) of transactions + previous timestamp.
2. Timestamp the hash.
3. Publish the hash + timestamp widely.
8. How to Safely Distribute a Ledger? (2)
Prevent double-spend:
•Every node needs to know of all transactions.
•Majority of nodes need to agree on single history of the order of transactions.
Solution: time-stamping:
1. Take hash of a set (“block”) of transactions + previous timestamp.
2. Timestamp the hash.
3. Publish the hash + timestamp widely.
9. How to Safely Distribute a Ledger? (3)
Problem: No central server for time-stamping.
Solution: p2p time-stamping using Proof of Work:
1. Everybody can create blocks + hashes.
2. But: hashing is made difficult.
3. Broadcast blocks to all known nodes (recursively)
4. Consensus: the longest chain always wins.
10. How to Safely Distribute a Ledger? (3)
Problem: No central server for time-stamping.
Solution: p2p time-stamping using Proof of Work:
1. Everybody can create blocks + hashes.
2. But: hashing is made difficult.
3. Broadcast blocks to all known nodes (recursively)
4. Consensus: the longest chain always wins.
Sources: Bitcoin: A Peer-to-Peer Electronic Cash System. Nakamoto, 2008, https://bitcoin.org/bitcoin.pdf,
11. How to Safely Distribute a Ledger? (3)
Problem: No central server for time-stamping.
Solution: p2p time-stamping using Proof of Work:
1. Everybody can create blocks + hashes.
2. But: hashing is made difficult.
3. Broadcast blocks to all known nodes (recursively)
4. Consensus: the longest chain always wins.
Sources: Bitcoin: A Peer-to-Peer Electronic Cash System. Nakamoto, 2008, https://bitcoin.org/bitcoin.pdf,
13. What are Smart Contracts?
• A smart contract
• is a program that is run as transactions on the chain,
• can execute transactions as specified through its code,
• has to be “mined” to made available in the chain, which includes assigning it an address,
• provides functions which are invoked in transactions,
• has a proper on-chain address, i.e. can hold and transfer coins,
• is publicly verifiable (because on-chain), and
• typically costs a transaction fee to execute (“gas”).
• Smart contracts enable decentralised apps:
• transaction sequences they specify are guaranteed by the platform.
• apps can be for use by humans but also autonomous software agents (cf. multi-agent system).
14. Smart Contract Example
contract Purchase {
uint public value;
address public seller;
address public buyer;
enum State { Created, Locked, Inactive }
State public state;
// Ensure that `msg.value` is an even number. Division will truncate if it is an odd
// number. Check via multiplication that it wasn't an odd number.
constructor() public payable {
seller = msg.sender;
value = msg.value / 2;
require((2 * value) == msg.value, "Value has to be even.");
}
modifier inState(State _state) {
require(
state == _state,
"Invalid state."
);
_;
}
event PurchaseConfirmed();
/// Confirm the purchase as buyer. Transaction has to include `2 * value` ether.
/// The ether will be locked until confirmReceived is called.
function confirmPurchase()
public
inState(State.Created)
condition(msg.value == (2 * value))
payable
{
emit PurchaseConfirmed();
buyer = msg.sender;
state = State.Locked;
19. How to Double-Spend
10 BTC
Malicious miner:
Legitimate balance:
Buys some goods online for 5 BTC.
5 BTC
tx: 5 BTC
20. How to Double-Spend
10 BTC
Malicious miner:
Legitimate balance:
Buys some goods online for 5 BTC.
5 BTC
Cheated balance: 10 BTC
tx: 5 BTC
21. How to Double-Spend
10 BTC
Malicious miner:
Legitimate balance:
Buys some goods online for 5 BTC.
5 BTC
Cheated balance: 10 BTC
Cheated chain needs
to grow longest to be
accepted.
Needs at least 51%
“hash rate”.
tx: 5 BTC
22. Challenge 1: Centralisation and 51% Attacks
• Nakamoto’s original argument: unlikely that a miner (or coalition) reaches >= 51% hash rate.
• But:
• Bitmain almost there for Bitcoin.
• Recently a number of 51% attacks happened on smaller chains (e.g. Bitcoin Gold).
• Vitalik Buterin’s recipe for takeover: create a smart contract for a coordinated activity such that:
• Any miner can join by sending a very large deposit to the contract.
• Miners send shares of their partially completed blocks to the contract; the contract verifies this and
also that you are a miner with sufficient hash power.
• Before 60% of all miners join, one can leave at anytime.
• After 60% of all miners join, you will be bound to the contract until the 20 blocks have been added to
cheating chain.
23. Excursus: Game Theory
• A (mathematical) tool to analyse strategic interaction between rational decision-makers.
• Types:
• Non-cooperative (no agreements) vs Cooperative (binding agreements)
• Simultaneous vs. sequential
• Perfect vs. imperfect information (-> Bayesian games)
• Zero-sum or not
• Repeated or one-time only
• Solutions:
• Non-Cooperative: Nash equilibrium
• Cooperative: Core, Shapley Value, Kernel etc.
24. Example: Prisoner’s Dilemma
Source: The legacy of John Nash and his equilibrium theory. Stephen Woodcock, 2015, The
Conversation, https://phys.org/news/2015-05-legacy-john-nash-equilibrium-theory.html
28. The Case Against the 51% Attack
Game-theory:
• “Grim Trigger” game:
• Should an heir to the throne kill the current queen/king?
• Subjects get guarantee of stability from the kingdom.
• Once you killed the 1st king, there’s no reason to not also kill all subsequent kings!
• Once a chain was 51%-attacked, there’s no reason to not do it again for miners in general. However:
• This only holds if miners have vested interest in keeping the blockchain working in the long term, and
not completely destroy its ecosystem.
• Other chains for which miners don’t care so much can be exploited, then miners move on.
• The attacks on Bitcoin Gold and other small chains, but not Bitcoin or other big chains seem to
confirm this.
29. Additional Options for Better Decentralisation
• Alternative consensus methods:
• (Delegated) Proof of Stake — unproven
• Acyclic Graphs of transactions — proven (arguably) only for permissioned chains
• Alternative approach to Proof of Work:
• Limit by memory bandwidth, not computation — works iff ASIC development held off “long enough”.
30. Additional Options for Better Decentralisation
• Alternative consensus methods:
• (Delegated) Proof of Stake — unproven
• Acyclic Graphs of transactions — proven (arguably) only for permissioned chains
• Alternative approach to Proof of Work:
• Limit by memory bandwidth, not computation — works iff ASIC development held off “long enough”.
Cuckoo Cycle
31. Challenge 2: Scalability
• Proof of Work leads to low number of transactions / time.
• Alternative to using different consensus: reduce number of on-chain
transactions.
• Æternity State Channels:
• A sequence of transactions is done off-chain, then later written to the
chain in one aggregated transaction.
• Similar to Bitcoin’s Lightning Network, but supports smart contracts:
1. Set of nodes open a channel.
2. Nodes transact on the channel fee-free and limited only by “normal”
computation/network latency.
3. Nodes close the channel, transferring the resulting state back onto the
chain.
32. Challenge 3: Solid Smart Contracts
• Ethereum’s Solidity was designed in an ad-hoc fashion.
• Many bugs and quirks such as silent overflows.
• Æternity’s approach for Sophia:
• Solid, language-design experienced team (some of the original Erlang developers).
• Cleanly designed, functional language of the ML family, strongly typed and restricted mutable state.
• First-class blockchain types:
• Oracles (interfacing to off-chain services)
• Naming (AENS)
33. Challenge 3: Solid Smart Contracts
• Ethereum’s Solidity was designed in an ad-hoc fashion.
• Many bugs and quirks such as silent overflows.
• Æternity’s approach for Sophia:
• Solid, language-design experienced team (some of the original Erlang developers).
• Cleanly designed, functional language of the ML family, strongly typed and restricted mutable state.
• First-class blockchain types:
• Oracles (interfacing to off-chain services)
• Naming (AENS)
Easier to reason about programs and proof correctness.
34. • Many early d-apps are “from nerds, for nerds”.
• Most non-tech users
• care about ease of use, value-add.
• don’t care about the underlying tech.
• However they increasingly want systems to be secure, privacy-
preserving, transparent, reliable etc.
• Therefore blockchain / smart contract platforms should provide
SDKs for easy high quality d-app development.
• Æternity:
• SDKs for Javascript, Python, Go
• UI Components for Vue.js
• Example æpps
Challenge 4: UX/UI
35. Challenge 5: Preventing Hard Forks / Governance (1)
• Hard Fork:
• a group of users forks the source code + chain state to branch
off on their own.
• possible with any open source chain.
• to prevent it, the number of users willing to break off must be
sufficiently small.
• Æternity provides:
• delegated voting mechanism, weighted by the amount of Æ.
• technical tools to permit governance.
• frameworks for human interaction for effective discussion.
43. Conclusion
• DLTs enable decentralised, transparent, censorship-resistant transfer of money, other assets, and
implementation of apps.
• Blockchains are one way to implement DLTs.
• So far, only Proof of Work-based public chains have been proven to be secure — as long as no one obtains
51% of the hash rate.
• Other methods like Proof of Stake, Hashgraph etc. promise much higher scalability at the potential cost of
security.
• Scaling Proof of Work chains with tools such as Æternity’s State Channels might be considered a good
compromise.
• There are many other challenges when developing reliable and user friendly d-apps, that are tackled in different
ways by different projects. Æternity provides many useful tools to tackle these.
• When designing a d-app with it’s own token/trading/reward/otherwise economic ecosystem, its token
economics has to be analysed, for which game theory and related economic models are particularly useful.
Traditional ledgers:
centralised
clearing house needs to be trusted:
knows all transactions
full control — possible censorship
no one except auditors can review — need to trust the auditors as well
DLT:
Transparency: Ledger can be stored and verified by multiple parties
Some set: private/permissioned
Anyone: public
Censorship-resilience
“Trustless”
The assets here can be currencies, also called coins in blockchain terms, or other assets. In blockchain we call the representation of an asset a token. So a coin is a special case of token, implementing a currency.
Also note that users usually can create multiple accounts or nodes in a DLT. In blockchain terms accounts are also called wallets. Each wallet has a cryptographic address, and you can keep it anonymously. Actually there are ways to de-anonymise wallets by tracking transaction histories and other things, but discussing this is out of scope for this talk.
How to ensure that a distributed ledger is valid and consistent?
First: ensure each node can verify that a transaction is valid
From original bitcoin paper:
Sign transactions of an asset digitally using a public-private key cryptographic method.
Then recipient can verify a transaction.
So for a single asset, we get a transaction history like this.
Each node also needs to verify that a transferred asset has not been spent before:
Only possible if we know the complete transactions history, i.e.
1. know of all transactions and
2. their order.
To achieve this, we can use time-stamping.
This works by [list]
So we get a history of blocks and their hashes like this.
Remember we’re in a distributed system without any central server, so who’s doing the time-stamping?
Solution:
Everybody can create blocks and hashes.
Made difficult by requiring the hash to start with a given number of 0s
Difficulty degree.
Using a nonce in the block to create different hashes.
So now our block sequence looks like this.
But why are we introducing this artificial difficulty?
Everybody can work on blocks at the same time, so alternative valid new blocks might appear at roughly the same time. And due to network latency, these might arrive at any order at other nodes.
Because we need to broadcast the blocks to all known node, who then re-broadcast to their known nodes etc. If some nodes learn of different, but also valid new blocks than other nodes, they’re now working on diverging histories.
10 minutes is believed to be enough to get new blocks to most nodes around the world, so there’s less chance for large chunks of the network working on different histories at any one time.
But it might still happen, so how do we resolve this?
Consensus: if there is a conflict, the longest (most difficult) chain wins.
Eventually, the differing groups will learn of each other’s alternative chains. By setting the rule that the longest chain wins, and if the set of nodes commanding the majority of the mining power is honest and adheres to this rule, then their chain will always outpace other chains.
This is an example of a Solidity smart contract.
Looks like “normal” code.
Contract definitions look similar to class definition in e.g. Java.
But methods can have modifiers, (pre-)conditions
D-app: p2p apps utilising DLT for transactions;
Some definitions also require open source and dealing with tokens.
Components:
UI,
blockchain client/library/sdk,
Smart contract(s)
We see a lot of centralisation because of Asics
Let’s have a look at what an attacker has to do to double-spend.Initially, we have a node with 10 BTC balance.
Recall: double-spending is prevented by consenting to accept the longer chain.
Therefore: majority of the network’s computing power will create the longer and accepted chains.
So if the majority in terms of computing power is honest
But there’s another argument why miners would not do this, even if they control >51% hash rate, and this is a game-theoretic one.
Now what is game theory?
Here, we’re mostly interested in non-cooperative games and their solution.
In a non-cooperative game, everybody plays against everybody. Also, everybody is perfectly rational. That means that everybody is selfish and tries to maximise their own utility without considering anything else.
Nash then analysed what happens in such situations. If we know what our opponents’ rational decision in any situation would be, because we know they’re also rational, we can determine our best response in each situation. But our opponents know the same of us, so they’d come up with a similar strategy, which we have in turn to consider recursively, as will they, and so on.
If there’s a fix point of resulting strategies to these recursive considerations, it is called a Nash equilibrium.
Just a quick note on cooperative games. These are also relevant in the blockchain context, because smart contracts enable binding agreements. In fact, Buterin’s smart contract based attack scheme could be modelled as a cooperative games with two parties, called coalitions: the attackers and the defenders. However, if we assume that users already decided whether they want to take part in the attack or not, we can also view this as a non-cooperative game of two actors, where the actors are the coalitions.
Let’s look at the classic example of non-cooperative game theory: the prisoner’s dilemma.
What should player A choose?
- If B Talks, A should talk.- If B stays silent, A should also talk.
For B it’s the same in reverse:
- If A Talks, B should talk.- If A stays silent, B should also talk.
So according to Nash, Talk/Talk is the stable solution, but it’s not the best solution. Because each of them would get only 2 years if they both stayed silent.
Other examples: auction and voting protocols.
But how this kind of analysis help us with the 51% attack scenario or other blockchain economic situations?
The main argument against the 51% attack is indeed a game-theoretic one. It’s based on a classic game called “Grim Trigger”, where we have a kingdom and an heir to the throne. The question is, should the heir kill the queen or king?
If they did, this would break the social contract that the kingdom provides law, order and stability for its subjects. You might then get a revolution or some chaos as in Game of Thrones.
That means that once you killed the 1st king, all subsequent kings might then just as easily be killed. So the heir is probably going to get murdered themselves. So if they’re rational, they should therefore not kill the queen in the first place.
The reason for a powerful group of miners is similar: [bullet points]
But generally, when designing any kind of protocol for transferring some real value, token economics has to be sorted out. You can use game theory to analyse whether your users have the right incentives.
Note on Lightning Network: there are ways to do smart contracts on Bitcoin and Lightning Network, but they’re complicated. Discussing this is out of scope here.
In a representative democracy, as we’re living in, you get to vote your few representative every few years, and then they’re supposed to represent you in every aspect.
But in the digital age, more flexible delegation schemes are possible.
In Liquid Democracy, you can delegate any topic or subtopic to anyone, change your delegations at any time, and vote for yourself whenever you prefer. Delegated votes are treated just as original votes, meaning delegates can delegate further on, or not.
Ætertnity is currenty considering implementing a liquid democracy voting scheme.
In UTU, we allow clients of services such as taxi, auto mechanics, doctors and others to endorse service providers and stake an amount of tokens on them.
Clients can then call our recommendation service, which serves up trusted recommendations by friends or other relations. If they choose the provider who has been endorsed by the first client and also endorse them, the first client is then rewarded according to both their stakes and some other parameters.
This is how our reward function looks like in terms of the original endorser’s stake and some fixed values for the other parameters. For several reasons that are not important here we designed to give diminishing returns, so it approaches a maximum value. So with increasing stake, you get closer to this maximum but never actually reach it.
In a sybil attack, an attacker runs multiple nodes and acts as if they belonged to different people. Here, they could use this to e.g. stake 10 times 1 token instead of 1 time 10 tokens. So they would avoid the diminishing returns.
However there are other properties of our system that make this unprofitable in most cases. We can again use game theory to show this, but we don’t have enough time here to go into this.