SlideShare a Scribd company logo
The better the question. The better the answer.
The better the world works.
Prepared By TENGKU HAZLEEN BINTI TENGKU HAZNI As Part
Submission Of EY Badge – Blockchain (Bronze)
BITCOIN BASICS 101
Agenda
1. WHAT IS BITCOIN?
2. HOW BITCOIN WORKS?
3. WHO CREATED BITCOIN?
4. WHAT IS BLOCKCHAIN TECHNOLOGY?
5. USES OF BLOCKCHAIN
6. BLOCKCHAIN BENEFITS
7. REFERENCES
27 April 2020 BitCoin Basics 101Page 2
1. WHAT IS BITCOIN?
27 April 2020 BitCoin Basics 101Page 3
• BitCoin is the first real implementation of Blockchains technology
that have the following attributes:
• Peer-to-peer network that maintains a public decentralized ledger of digital
math-based assets/currency
• The supply of bitcoins is fixed at 21 millions and each bitcoin can be divided into
a hundred million pieces
• The ownership is not interchangeable without instructions from current owner
that have been cryptographically authenticated (digital signatures)
• Though the results look similar to other systems, the way that Bitcoin works is
profoundly different:
▪ Distributed processing
▪ Synchronize records
▪ Smart information
• These attributes have make the Bitcoin network as the financial
network, or the “Internet of Money”
2. HOW BITCOIN WORKS?
27 April 2020 BitCoin Basics 101Page 4
1) Distributed processing
• Every node in the network
checks the work of other
notes
• Confirming transactions
involves solving a small math
problem with random
numbers. Multiple parties
work on this simultaneously
• Transaction are confirmed by
a kind of digital majority vote
• The result is that collusion to
approve fraudulent
transactions is difficult
2. HOW BITCOIN WORKS?
27 April 2020 BitCoin Basics 101Page 5
2) Synchronized records
• Every participant in the
network keeps a copy of all
the transactions
• Transactions are secured by
encryption to prevent
tampering
• Change your transaction
history, and your hash
numbers will be out of sync
with all others, exposing
tampering
2. HOW BITCOIN WORKS?
27 April 2020 BitCoin Basics 101Page 6
3) Smart Information
• Transactions can be sent with
rules attached – small
programs that govern and
how money is delivered
3. WHO CREATED BITCOIN?
27 April 2020 BitCoin Basics 101Page 7
October 31,
2008
2009-2010January3,
2009
April 23,
2011
► Satoshi Nakamoto
publishes white
paper titled Bitcoin:
A Peer-to-Peer
Electronic Cash
System via the
“The Cryptography
Mailing List”.
► Satoshi
releases
Bitcoin source
code and
software client
to the world
► Satoshi updates
the source code
and writes
hundreds of
posts totaling
80,000 words
(length of a
novel)
► Satoshi vanishes
from the Internet
after emailing a
developer saying
he had “moved
onto other
things”.
CLUES
• Satoshi Nakamoto is believed to be a pseudonym for the individual or group of individuals responsible for Bitcoin.
No record of a programmer by this name exists prior to Bitcoin
• His P2P Foundation account details say he is a 38-year old male living in Japan.
• In Japanese:
• Satoshi means “clear-thinking” or “wise”
• Naka means “inside” or “relationship”
• Moto means “the origin” or “the foundation
• If an individual, he is a world class programmer with deep knowledge of C++, economics, cryptography and peer-
to-peer networking.
4. WHAT IS BLOCKCHAIN TECHNOLOGY?
27 April 2020 BitCoin Basics 101Page 8
• The open-source software upon which Bitcoin runs (A technology
protocol layer like TCP/IP)
• A distributed database and decentralized
public ledger of all transactions
• Literally blocks (batches of transactions) in a chain, a sequential
ledger of transactions
4. WHAT IS BLOCKCHAIN TECHNOLOGY?
27 April 2020 BitCoin Basics 101Page 9
• String multiple blocks together and you get a BlockChain
• Applications areas:
• Finance and economics: payments, asset exchange
• Exchange of all assets (physical and intangible)
• Recording of events
• Medical records
• Identity Management
• Transaction processing
• Documenting provenance
• Financial Transactions
• Marketplace
• Smart Contracts
• Digital Products Marketing
• Property Records
• Voting
• Cloud Storage
5. USES OF BLOCKCHAIN
27 April 2020 BitCoin Basics 101Page 10
Resilient and reliable
6. BLOCKCHAIN BENEFITS
27 April 2020 BitCoin Basics 101Page 11
Secure
Using the resources already thereEfficient
Open source, transparentOpen
Designed for commerceCommercial
REFERENCES
27 April 2020 BitCoin Basics 101Page 12
• https://www.slideshare.net/gokulalex/blockchain-essentials-for-
business-leaders-value-propositions-and-advantage-
layers?qid=de3efc1d-f6f9-4a04-8a2b-
aed474d9a25b&v=&b=&from_search=4
• https://www.slideshare.net/lablogga/blockchain-the-information-
technology-of-the-future
• https://www.slideshare.net/pbrody/block-chain-101-what-it-is-why-it-
matters
• https://www.slideshare.net/winklevosscap/the-internet-of-money/4-
WHO_CREATED_BITCOIN_Satoshi_Nakamoto
• https://www.slideshare.net/MuhammadMoinurRahman/introduction-
to-blockchain-232323645?qid=de3efc1d-f6f9-4a04-8a2b-
aed474d9a25b&v=&b=&from_search=2
Thank You
27 April 2020 Presentation titlePage 13
EY | Assurance | Tax | Transactions | Advisory
About EY
Replace this text with boilerplate copy, found on The
Branding Zone, in the Signature, boilerplate and descriptor
section. Lorem ipsum dolor sit amet, consectetuer adipiscing
elit, sed diam nonummy nibh euismod tincidunt ut laoreet
dolore magna aliquam erat volutpat. Ut wisi ad minim
veniam, quis nostrud exercitation ullam corper suscipit
lobortis nisl ut aliquip ex ea duncai consequat.
[Optional sector or service line descriptor]
© 20XX EYGM Limited.
All Rights Reserved.
EYG00001-162Gbl (replace with your SCORE number)
[Optional file reference number]
ED MMYY
[Optional environmental statement]
Legal copy lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam
nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat.
ey.com

More Related Content

What's hot

Blockchain and Bitcoin
Blockchain and BitcoinBlockchain and Bitcoin
Blockchain and Bitcoin
Vamshi TG
 
Bitcoin - the Basics
Bitcoin - the BasicsBitcoin - the Basics
Bitcoin - the Basics
Vesa Linja-aho
 
Bitcoin Introduction - customer presentation APR 2017
Bitcoin Introduction - customer presentation  APR 2017Bitcoin Introduction - customer presentation  APR 2017
Bitcoin Introduction - customer presentation APR 2017
Oron Barber
 
Bitcoin & Blockchain Basics
Bitcoin & Blockchain BasicsBitcoin & Blockchain Basics
Bitcoin & Blockchain Basics
Crowdsourcing Week
 
Practical Working Use Cases Of The Blockchain
Practical Working Use Cases Of The BlockchainPractical Working Use Cases Of The Blockchain
Practical Working Use Cases Of The Blockchain
Ina O' Murchu
 
NUS-ISS Learning Day 2018- An introduction to blockchain and a demo on corda ...
NUS-ISS Learning Day 2018- An introduction to blockchain and a demo on corda ...NUS-ISS Learning Day 2018- An introduction to blockchain and a demo on corda ...
NUS-ISS Learning Day 2018- An introduction to blockchain and a demo on corda ...
NUS-ISS
 
Withum cryptocurrency 101
Withum   cryptocurrency 101Withum   cryptocurrency 101
Withum cryptocurrency 101
Withum
 
BITCOIN TECHNOLOGY AND ITS USES
BITCOIN TECHNOLOGY AND ITS USESBITCOIN TECHNOLOGY AND ITS USES
BITCOIN TECHNOLOGY AND ITS USES
Rishikese MR
 
blockchain technology
blockchain technologyblockchain technology
blockchain technology
SumitNegi55
 
Bitcoin and Blockchain Technology: An Introduction
Bitcoin and Blockchain Technology: An IntroductionBitcoin and Blockchain Technology: An Introduction
Bitcoin and Blockchain Technology: An Introduction
Ferdinando Maria Ametrano
 
basics to blockchain
basics to blockchainbasics to blockchain
basics to blockchain
Misskomalchaudhari
 
information about Bitcoin
information about Bitcoininformation about Bitcoin
information about Bitcoin
Anup Rai
 
Bitcoin Final Year Seminar (PPT)
Bitcoin Final Year Seminar (PPT)Bitcoin Final Year Seminar (PPT)
Bitcoin Final Year Seminar (PPT)
Shantanu Singh
 
Manish tripathi-e-commerce-bit coin-5feb2017
Manish tripathi-e-commerce-bit coin-5feb2017Manish tripathi-e-commerce-bit coin-5feb2017
Manish tripathi-e-commerce-bit coin-5feb2017
A P
 
ppt on Blockchain Technology
ppt on Blockchain Technologyppt on Blockchain Technology
ppt on Blockchain Technology
Ansh Budania
 
Bitcoin
BitcoinBitcoin
Bitcoin: A Peer-to-Peer Electronic Cash System
Bitcoin: A Peer-to-Peer Electronic Cash SystemBitcoin: A Peer-to-Peer Electronic Cash System
Bitcoin: A Peer-to-Peer Electronic Cash System
Paras Jain
 
BIT COIN ,MINING & ATM
BIT COIN ,MINING & ATMBIT COIN ,MINING & ATM
BIT COIN ,MINING & ATM
Sumbal Jahan
 
BITCOIN: CMGB 6102 Management Information System
BITCOIN: CMGB 6102 Management Information SystemBITCOIN: CMGB 6102 Management Information System
BITCOIN: CMGB 6102 Management Information System
Suraya Natrah Malek
 
Introduction of Bitcoin
Introduction of BitcoinIntroduction of Bitcoin
Introduction of Bitcoin
bansarirajani
 

What's hot (20)

Blockchain and Bitcoin
Blockchain and BitcoinBlockchain and Bitcoin
Blockchain and Bitcoin
 
Bitcoin - the Basics
Bitcoin - the BasicsBitcoin - the Basics
Bitcoin - the Basics
 
Bitcoin Introduction - customer presentation APR 2017
Bitcoin Introduction - customer presentation  APR 2017Bitcoin Introduction - customer presentation  APR 2017
Bitcoin Introduction - customer presentation APR 2017
 
Bitcoin & Blockchain Basics
Bitcoin & Blockchain BasicsBitcoin & Blockchain Basics
Bitcoin & Blockchain Basics
 
Practical Working Use Cases Of The Blockchain
Practical Working Use Cases Of The BlockchainPractical Working Use Cases Of The Blockchain
Practical Working Use Cases Of The Blockchain
 
NUS-ISS Learning Day 2018- An introduction to blockchain and a demo on corda ...
NUS-ISS Learning Day 2018- An introduction to blockchain and a demo on corda ...NUS-ISS Learning Day 2018- An introduction to blockchain and a demo on corda ...
NUS-ISS Learning Day 2018- An introduction to blockchain and a demo on corda ...
 
Withum cryptocurrency 101
Withum   cryptocurrency 101Withum   cryptocurrency 101
Withum cryptocurrency 101
 
BITCOIN TECHNOLOGY AND ITS USES
BITCOIN TECHNOLOGY AND ITS USESBITCOIN TECHNOLOGY AND ITS USES
BITCOIN TECHNOLOGY AND ITS USES
 
blockchain technology
blockchain technologyblockchain technology
blockchain technology
 
Bitcoin and Blockchain Technology: An Introduction
Bitcoin and Blockchain Technology: An IntroductionBitcoin and Blockchain Technology: An Introduction
Bitcoin and Blockchain Technology: An Introduction
 
basics to blockchain
basics to blockchainbasics to blockchain
basics to blockchain
 
information about Bitcoin
information about Bitcoininformation about Bitcoin
information about Bitcoin
 
Bitcoin Final Year Seminar (PPT)
Bitcoin Final Year Seminar (PPT)Bitcoin Final Year Seminar (PPT)
Bitcoin Final Year Seminar (PPT)
 
Manish tripathi-e-commerce-bit coin-5feb2017
Manish tripathi-e-commerce-bit coin-5feb2017Manish tripathi-e-commerce-bit coin-5feb2017
Manish tripathi-e-commerce-bit coin-5feb2017
 
ppt on Blockchain Technology
ppt on Blockchain Technologyppt on Blockchain Technology
ppt on Blockchain Technology
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
Bitcoin: A Peer-to-Peer Electronic Cash System
Bitcoin: A Peer-to-Peer Electronic Cash SystemBitcoin: A Peer-to-Peer Electronic Cash System
Bitcoin: A Peer-to-Peer Electronic Cash System
 
BIT COIN ,MINING & ATM
BIT COIN ,MINING & ATMBIT COIN ,MINING & ATM
BIT COIN ,MINING & ATM
 
BITCOIN: CMGB 6102 Management Information System
BITCOIN: CMGB 6102 Management Information SystemBITCOIN: CMGB 6102 Management Information System
BITCOIN: CMGB 6102 Management Information System
 
Introduction of Bitcoin
Introduction of BitcoinIntroduction of Bitcoin
Introduction of Bitcoin
 

Similar to Bit coin basics 101

Minning of Bitcoin Technology
Minning of Bitcoin TechnologyMinning of Bitcoin Technology
Minning of Bitcoin Technology
EECJOURNAL
 
Introduction of biticoin whitepaper
Introduction of biticoin whitepaperIntroduction of biticoin whitepaper
Introduction of biticoin whitepaper
Randy CIC
 
Bitcoin:Global Digital Currency
Bitcoin:Global Digital CurrencyBitcoin:Global Digital Currency
Bitcoin:Global Digital Currency
Surbhi Jain
 
IMPACT OF BITCOIN ON 21st CENTURY.docx
IMPACT OF BITCOIN ON 21st CENTURY.docxIMPACT OF BITCOIN ON 21st CENTURY.docx
IMPACT OF BITCOIN ON 21st CENTURY.docx
MuskanRath1
 
A primer on Bitcoin Technology
A primer on Bitcoin TechnologyA primer on Bitcoin Technology
A primer on Bitcoin Technology
Sebin Benjamin
 
Paradigm shift: from the bitcoin Blockchain to Networked Computing
Paradigm shift: from the bitcoin Blockchain to Networked ComputingParadigm shift: from the bitcoin Blockchain to Networked Computing
Paradigm shift: from the bitcoin Blockchain to Networked Computing
kumar641
 
Report on Bitcoin- The cryptocurrency (November 2017)
Report on Bitcoin- The cryptocurrency (November 2017)Report on Bitcoin- The cryptocurrency (November 2017)
Report on Bitcoin- The cryptocurrency (November 2017)
AJSH & Co LLP
 
Bitcoin
BitcoinBitcoin
Bitcoin
ajshdelhi01
 
Blockchain as a new cyber strategy for your business
Blockchain as a new cyber strategy for your businessBlockchain as a new cyber strategy for your business
Blockchain as a new cyber strategy for your business
David Joao Vieira Carvalho
 
Bitcoin
BitcoinBitcoin
Spartan Blockchain - Women in Blockchain Workshop Presentation
Spartan Blockchain - Women in Blockchain Workshop PresentationSpartan Blockchain - Women in Blockchain Workshop Presentation
Spartan Blockchain - Women in Blockchain Workshop Presentation
Andrew Marquardt
 
Bitcoin
BitcoinBitcoin
Bitcoin & Blockchain
Bitcoin & Blockchain Bitcoin & Blockchain
Bitcoin & Blockchain
Len Mei
 
BLOCK CHAIN UNIT 1.pptx
BLOCK CHAIN UNIT 1.pptxBLOCK CHAIN UNIT 1.pptx
BLOCK CHAIN UNIT 1.pptx
HariniS634942
 
How can you tell the difference between bitcoin and blockchain
How can you tell the difference between bitcoin and blockchainHow can you tell the difference between bitcoin and blockchain
How can you tell the difference between bitcoin and blockchain
OliviaJune1
 
Meetup #15 - 2023-08-10
Meetup #15 - 2023-08-10Meetup #15 - 2023-08-10
Meetup #15 - 2023-08-10
RoundRockBitcoiners
 
Seminarreportonbitcoinapp02
Seminarreportonbitcoinapp02Seminarreportonbitcoinapp02
Seminarreportonbitcoinapp02
Mayuresh Singh
 
How does the division of Bitcoins work_.pptx
How does the division of Bitcoins work_.pptxHow does the division of Bitcoins work_.pptx
How does the division of Bitcoins work_.pptx
BlockchainX
 
Blockchain & Cryptocurrencies Intro - July 2017
Blockchain & Cryptocurrencies Intro - July 2017Blockchain & Cryptocurrencies Intro - July 2017
Blockchain & Cryptocurrencies Intro - July 2017
🔗Audrey Chaing
 

Similar to Bit coin basics 101 (20)

Minning of Bitcoin Technology
Minning of Bitcoin TechnologyMinning of Bitcoin Technology
Minning of Bitcoin Technology
 
Introduction of biticoin whitepaper
Introduction of biticoin whitepaperIntroduction of biticoin whitepaper
Introduction of biticoin whitepaper
 
Bitcoin:Global Digital Currency
Bitcoin:Global Digital CurrencyBitcoin:Global Digital Currency
Bitcoin:Global Digital Currency
 
IMPACT OF BITCOIN ON 21st CENTURY.docx
IMPACT OF BITCOIN ON 21st CENTURY.docxIMPACT OF BITCOIN ON 21st CENTURY.docx
IMPACT OF BITCOIN ON 21st CENTURY.docx
 
A primer on Bitcoin Technology
A primer on Bitcoin TechnologyA primer on Bitcoin Technology
A primer on Bitcoin Technology
 
Paradigm shift: from the bitcoin Blockchain to Networked Computing
Paradigm shift: from the bitcoin Blockchain to Networked ComputingParadigm shift: from the bitcoin Blockchain to Networked Computing
Paradigm shift: from the bitcoin Blockchain to Networked Computing
 
Report on Bitcoin- The cryptocurrency (November 2017)
Report on Bitcoin- The cryptocurrency (November 2017)Report on Bitcoin- The cryptocurrency (November 2017)
Report on Bitcoin- The cryptocurrency (November 2017)
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
Blockchain as a new cyber strategy for your business
Blockchain as a new cyber strategy for your businessBlockchain as a new cyber strategy for your business
Blockchain as a new cyber strategy for your business
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
Spartan Blockchain - Women in Blockchain Workshop Presentation
Spartan Blockchain - Women in Blockchain Workshop PresentationSpartan Blockchain - Women in Blockchain Workshop Presentation
Spartan Blockchain - Women in Blockchain Workshop Presentation
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
Bitcoin & Blockchain
Bitcoin & Blockchain Bitcoin & Blockchain
Bitcoin & Blockchain
 
BLOCK CHAIN UNIT 1.pptx
BLOCK CHAIN UNIT 1.pptxBLOCK CHAIN UNIT 1.pptx
BLOCK CHAIN UNIT 1.pptx
 
How can you tell the difference between bitcoin and blockchain
How can you tell the difference between bitcoin and blockchainHow can you tell the difference between bitcoin and blockchain
How can you tell the difference between bitcoin and blockchain
 
Meetup #15 - 2023-08-10
Meetup #15 - 2023-08-10Meetup #15 - 2023-08-10
Meetup #15 - 2023-08-10
 
Seminarreportonbitcoinapp02
Seminarreportonbitcoinapp02Seminarreportonbitcoinapp02
Seminarreportonbitcoinapp02
 
How does the division of Bitcoins work_.pptx
How does the division of Bitcoins work_.pptxHow does the division of Bitcoins work_.pptx
How does the division of Bitcoins work_.pptx
 
White Paper
White PaperWhite Paper
White Paper
 
Blockchain & Cryptocurrencies Intro - July 2017
Blockchain & Cryptocurrencies Intro - July 2017Blockchain & Cryptocurrencies Intro - July 2017
Blockchain & Cryptocurrencies Intro - July 2017
 

Recently uploaded

Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
Jeffrey Haguewood
 
How world-class product teams are winning in the AI era by CEO and Founder, P...
How world-class product teams are winning in the AI era by CEO and Founder, P...How world-class product teams are winning in the AI era by CEO and Founder, P...
How world-class product teams are winning in the AI era by CEO and Founder, P...
Product School
 
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
Product School
 
Leading Change strategies and insights for effective change management pdf 1.pdf
Leading Change strategies and insights for effective change management pdf 1.pdfLeading Change strategies and insights for effective change management pdf 1.pdf
Leading Change strategies and insights for effective change management pdf 1.pdf
OnBoard
 
Securing your Kubernetes cluster_ a step-by-step guide to success !
Securing your Kubernetes cluster_ a step-by-step guide to success !Securing your Kubernetes cluster_ a step-by-step guide to success !
Securing your Kubernetes cluster_ a step-by-step guide to success !
KatiaHIMEUR1
 
To Graph or Not to Graph Knowledge Graph Architectures and LLMs
To Graph or Not to Graph Knowledge Graph Architectures and LLMsTo Graph or Not to Graph Knowledge Graph Architectures and LLMs
To Graph or Not to Graph Knowledge Graph Architectures and LLMs
Paul Groth
 
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...
DanBrown980551
 
Essentials of Automations: Optimizing FME Workflows with Parameters
Essentials of Automations: Optimizing FME Workflows with ParametersEssentials of Automations: Optimizing FME Workflows with Parameters
Essentials of Automations: Optimizing FME Workflows with Parameters
Safe Software
 
Epistemic Interaction - tuning interfaces to provide information for AI support
Epistemic Interaction - tuning interfaces to provide information for AI supportEpistemic Interaction - tuning interfaces to provide information for AI support
Epistemic Interaction - tuning interfaces to provide information for AI support
Alan Dix
 
The Art of the Pitch: WordPress Relationships and Sales
The Art of the Pitch: WordPress Relationships and SalesThe Art of the Pitch: WordPress Relationships and Sales
The Art of the Pitch: WordPress Relationships and Sales
Laura Byrne
 
DevOps and Testing slides at DASA Connect
DevOps and Testing slides at DASA ConnectDevOps and Testing slides at DASA Connect
DevOps and Testing slides at DASA Connect
Kari Kakkonen
 
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024
Tobias Schneck
 
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...
UiPathCommunity
 
From Siloed Products to Connected Ecosystem: Building a Sustainable and Scala...
From Siloed Products to Connected Ecosystem: Building a Sustainable and Scala...From Siloed Products to Connected Ecosystem: Building a Sustainable and Scala...
From Siloed Products to Connected Ecosystem: Building a Sustainable and Scala...
Product School
 
When stars align: studies in data quality, knowledge graphs, and machine lear...
When stars align: studies in data quality, knowledge graphs, and machine lear...When stars align: studies in data quality, knowledge graphs, and machine lear...
When stars align: studies in data quality, knowledge graphs, and machine lear...
Elena Simperl
 
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
Ramesh Iyer
 
Accelerate your Kubernetes clusters with Varnish Caching
Accelerate your Kubernetes clusters with Varnish CachingAccelerate your Kubernetes clusters with Varnish Caching
Accelerate your Kubernetes clusters with Varnish Caching
Thijs Feryn
 
Designing Great Products: The Power of Design and Leadership by Chief Designe...
Designing Great Products: The Power of Design and Leadership by Chief Designe...Designing Great Products: The Power of Design and Leadership by Chief Designe...
Designing Great Products: The Power of Design and Leadership by Chief Designe...
Product School
 
The Future of Platform Engineering
The Future of Platform EngineeringThe Future of Platform Engineering
The Future of Platform Engineering
Jemma Hussein Allen
 
FIDO Alliance Osaka Seminar: Overview.pdf
FIDO Alliance Osaka Seminar: Overview.pdfFIDO Alliance Osaka Seminar: Overview.pdf
FIDO Alliance Osaka Seminar: Overview.pdf
FIDO Alliance
 

Recently uploaded (20)

Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...
 
How world-class product teams are winning in the AI era by CEO and Founder, P...
How world-class product teams are winning in the AI era by CEO and Founder, P...How world-class product teams are winning in the AI era by CEO and Founder, P...
How world-class product teams are winning in the AI era by CEO and Founder, P...
 
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
De-mystifying Zero to One: Design Informed Techniques for Greenfield Innovati...
 
Leading Change strategies and insights for effective change management pdf 1.pdf
Leading Change strategies and insights for effective change management pdf 1.pdfLeading Change strategies and insights for effective change management pdf 1.pdf
Leading Change strategies and insights for effective change management pdf 1.pdf
 
Securing your Kubernetes cluster_ a step-by-step guide to success !
Securing your Kubernetes cluster_ a step-by-step guide to success !Securing your Kubernetes cluster_ a step-by-step guide to success !
Securing your Kubernetes cluster_ a step-by-step guide to success !
 
To Graph or Not to Graph Knowledge Graph Architectures and LLMs
To Graph or Not to Graph Knowledge Graph Architectures and LLMsTo Graph or Not to Graph Knowledge Graph Architectures and LLMs
To Graph or Not to Graph Knowledge Graph Architectures and LLMs
 
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...
 
Essentials of Automations: Optimizing FME Workflows with Parameters
Essentials of Automations: Optimizing FME Workflows with ParametersEssentials of Automations: Optimizing FME Workflows with Parameters
Essentials of Automations: Optimizing FME Workflows with Parameters
 
Epistemic Interaction - tuning interfaces to provide information for AI support
Epistemic Interaction - tuning interfaces to provide information for AI supportEpistemic Interaction - tuning interfaces to provide information for AI support
Epistemic Interaction - tuning interfaces to provide information for AI support
 
The Art of the Pitch: WordPress Relationships and Sales
The Art of the Pitch: WordPress Relationships and SalesThe Art of the Pitch: WordPress Relationships and Sales
The Art of the Pitch: WordPress Relationships and Sales
 
DevOps and Testing slides at DASA Connect
DevOps and Testing slides at DASA ConnectDevOps and Testing slides at DASA Connect
DevOps and Testing slides at DASA Connect
 
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024
 
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...
 
From Siloed Products to Connected Ecosystem: Building a Sustainable and Scala...
From Siloed Products to Connected Ecosystem: Building a Sustainable and Scala...From Siloed Products to Connected Ecosystem: Building a Sustainable and Scala...
From Siloed Products to Connected Ecosystem: Building a Sustainable and Scala...
 
When stars align: studies in data quality, knowledge graphs, and machine lear...
When stars align: studies in data quality, knowledge graphs, and machine lear...When stars align: studies in data quality, knowledge graphs, and machine lear...
When stars align: studies in data quality, knowledge graphs, and machine lear...
 
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...
 
Accelerate your Kubernetes clusters with Varnish Caching
Accelerate your Kubernetes clusters with Varnish CachingAccelerate your Kubernetes clusters with Varnish Caching
Accelerate your Kubernetes clusters with Varnish Caching
 
Designing Great Products: The Power of Design and Leadership by Chief Designe...
Designing Great Products: The Power of Design and Leadership by Chief Designe...Designing Great Products: The Power of Design and Leadership by Chief Designe...
Designing Great Products: The Power of Design and Leadership by Chief Designe...
 
The Future of Platform Engineering
The Future of Platform EngineeringThe Future of Platform Engineering
The Future of Platform Engineering
 
FIDO Alliance Osaka Seminar: Overview.pdf
FIDO Alliance Osaka Seminar: Overview.pdfFIDO Alliance Osaka Seminar: Overview.pdf
FIDO Alliance Osaka Seminar: Overview.pdf
 

Bit coin basics 101

  • 1. The better the question. The better the answer. The better the world works. Prepared By TENGKU HAZLEEN BINTI TENGKU HAZNI As Part Submission Of EY Badge – Blockchain (Bronze) BITCOIN BASICS 101
  • 2. Agenda 1. WHAT IS BITCOIN? 2. HOW BITCOIN WORKS? 3. WHO CREATED BITCOIN? 4. WHAT IS BLOCKCHAIN TECHNOLOGY? 5. USES OF BLOCKCHAIN 6. BLOCKCHAIN BENEFITS 7. REFERENCES 27 April 2020 BitCoin Basics 101Page 2
  • 3. 1. WHAT IS BITCOIN? 27 April 2020 BitCoin Basics 101Page 3 • BitCoin is the first real implementation of Blockchains technology that have the following attributes: • Peer-to-peer network that maintains a public decentralized ledger of digital math-based assets/currency • The supply of bitcoins is fixed at 21 millions and each bitcoin can be divided into a hundred million pieces • The ownership is not interchangeable without instructions from current owner that have been cryptographically authenticated (digital signatures) • Though the results look similar to other systems, the way that Bitcoin works is profoundly different: ▪ Distributed processing ▪ Synchronize records ▪ Smart information • These attributes have make the Bitcoin network as the financial network, or the “Internet of Money”
  • 4. 2. HOW BITCOIN WORKS? 27 April 2020 BitCoin Basics 101Page 4 1) Distributed processing • Every node in the network checks the work of other notes • Confirming transactions involves solving a small math problem with random numbers. Multiple parties work on this simultaneously • Transaction are confirmed by a kind of digital majority vote • The result is that collusion to approve fraudulent transactions is difficult
  • 5. 2. HOW BITCOIN WORKS? 27 April 2020 BitCoin Basics 101Page 5 2) Synchronized records • Every participant in the network keeps a copy of all the transactions • Transactions are secured by encryption to prevent tampering • Change your transaction history, and your hash numbers will be out of sync with all others, exposing tampering
  • 6. 2. HOW BITCOIN WORKS? 27 April 2020 BitCoin Basics 101Page 6 3) Smart Information • Transactions can be sent with rules attached – small programs that govern and how money is delivered
  • 7. 3. WHO CREATED BITCOIN? 27 April 2020 BitCoin Basics 101Page 7 October 31, 2008 2009-2010January3, 2009 April 23, 2011 ► Satoshi Nakamoto publishes white paper titled Bitcoin: A Peer-to-Peer Electronic Cash System via the “The Cryptography Mailing List”. ► Satoshi releases Bitcoin source code and software client to the world ► Satoshi updates the source code and writes hundreds of posts totaling 80,000 words (length of a novel) ► Satoshi vanishes from the Internet after emailing a developer saying he had “moved onto other things”. CLUES • Satoshi Nakamoto is believed to be a pseudonym for the individual or group of individuals responsible for Bitcoin. No record of a programmer by this name exists prior to Bitcoin • His P2P Foundation account details say he is a 38-year old male living in Japan. • In Japanese: • Satoshi means “clear-thinking” or “wise” • Naka means “inside” or “relationship” • Moto means “the origin” or “the foundation • If an individual, he is a world class programmer with deep knowledge of C++, economics, cryptography and peer- to-peer networking.
  • 8. 4. WHAT IS BLOCKCHAIN TECHNOLOGY? 27 April 2020 BitCoin Basics 101Page 8 • The open-source software upon which Bitcoin runs (A technology protocol layer like TCP/IP) • A distributed database and decentralized public ledger of all transactions • Literally blocks (batches of transactions) in a chain, a sequential ledger of transactions
  • 9. 4. WHAT IS BLOCKCHAIN TECHNOLOGY? 27 April 2020 BitCoin Basics 101Page 9 • String multiple blocks together and you get a BlockChain • Applications areas: • Finance and economics: payments, asset exchange • Exchange of all assets (physical and intangible)
  • 10. • Recording of events • Medical records • Identity Management • Transaction processing • Documenting provenance • Financial Transactions • Marketplace • Smart Contracts • Digital Products Marketing • Property Records • Voting • Cloud Storage 5. USES OF BLOCKCHAIN 27 April 2020 BitCoin Basics 101Page 10
  • 11. Resilient and reliable 6. BLOCKCHAIN BENEFITS 27 April 2020 BitCoin Basics 101Page 11 Secure Using the resources already thereEfficient Open source, transparentOpen Designed for commerceCommercial
  • 12. REFERENCES 27 April 2020 BitCoin Basics 101Page 12 • https://www.slideshare.net/gokulalex/blockchain-essentials-for- business-leaders-value-propositions-and-advantage- layers?qid=de3efc1d-f6f9-4a04-8a2b- aed474d9a25b&v=&b=&from_search=4 • https://www.slideshare.net/lablogga/blockchain-the-information- technology-of-the-future • https://www.slideshare.net/pbrody/block-chain-101-what-it-is-why-it- matters • https://www.slideshare.net/winklevosscap/the-internet-of-money/4- WHO_CREATED_BITCOIN_Satoshi_Nakamoto • https://www.slideshare.net/MuhammadMoinurRahman/introduction- to-blockchain-232323645?qid=de3efc1d-f6f9-4a04-8a2b- aed474d9a25b&v=&b=&from_search=2
  • 13. Thank You 27 April 2020 Presentation titlePage 13
  • 14. EY | Assurance | Tax | Transactions | Advisory About EY Replace this text with boilerplate copy, found on The Branding Zone, in the Signature, boilerplate and descriptor section. Lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. Ut wisi ad minim veniam, quis nostrud exercitation ullam corper suscipit lobortis nisl ut aliquip ex ea duncai consequat. [Optional sector or service line descriptor] © 20XX EYGM Limited. All Rights Reserved. EYG00001-162Gbl (replace with your SCORE number) [Optional file reference number] ED MMYY [Optional environmental statement] Legal copy lorem ipsum dolor sit amet, consectetuer adipiscing elit, sed diam nonummy nibh euismod tincidunt ut laoreet dolore magna aliquam erat volutpat. ey.com