The document discusses Bitcoin and blockchain technology. It explains that blockchain is a constantly growing ledger that records all transactions in a secure, chronological and immutable manner. Bitcoin uses blockchain to allow digital assets to be securely bought, sold, and transferred over the internet without a third party. The blockchain underlies Bitcoin and keeps a decentralized record of all transactions across the Bitcoin network, making the records secure and less prone to fraud. Miners on the Bitcoin network process and confirm transactions by solving complex cryptography problems and are rewarded with Bitcoin.

1. BitCoin and BlockChain
Fundamentals
Prashant Gautam

2. Background
• In real world we are dealing with internet fraud, malware , hacks of
banks , ISPs
• How can you trust the quality and integrity of information you are
getting ?
• Answer
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3. BlockChain
• Constantly growing ledger that keeps a permanent records of all the
transaction that have taken place in a secure chronological &
immutable way.
• Ledger Files !
• Secure Advanced cryptography !
• Chronological One after another !
• Immutable Ledger never be changed !
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4. Bitcoins
• Digital Assets that can be bought, sold or transferred between
parties securely over the internet
• Because of this, Bitcoin can be store values , much like buying gold,
silver and investments.
• Like Rs, $, Euro, we can buy things and exchange electronically.
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5. Important Dates in BitCoin History
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6. How Bitcoin Works ?
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7. Contd…
• Can we send money same like file attached with email ?
Absolutely Not ?
Why ??
• Because whenever we do a transfer of value between two parties,
we need to ensure that a real transfer has taken place !!!
• Double Spend Problem !!
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8. Contd…
• So 3rd Party like bank is established to overcome Double Spend
Problems !!
• Then , How is it that we can send bitcoins to someone else over the
internet without 3rd party ??
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9. Answer is Bitcoin and BlockChain
• Global Network of 1000s computers called BitCoin Network.
• And Special type of decentralized ledger technology called Block
chain.
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10. Contd…
• BlockChain Underlies BitCoin.
• BlockChain keeps decentralized records of all transactions on Bitcoin
Network
• Information are secured by cryptography and data are stored &
verified across entire networks.
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11. Decentralized
• No single Point of failure !!
• So records in blockChain  Secure , Less Prone to Fraud, Tampering
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12. BitCoin Miners
• Group of people involved in Bitcoin Network Miners
• Roles Process and Confirm Transactions
 Solve advance maths problems and resolve Cryptography
• They Use Powerful computers
• They are rewarded Bitcoins for solving advance cryptography
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13. How bitcoin blockchain is Built ?
• A new Block are added every 10min as new transactions take place.
• Miners add it to the parent Chain.
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14. Components of BitCoin
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15. Gaming Theory
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16. Common Misconception
• Anonymous  Pseudo-anonymous
• BitCoin is used to launder money
• Better Database  Permanent/Immutable
• BlockChain is BitCoin  Bitcoin is application of blockchain
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17. BitCoin Value
• Most Common Question
• how to determine the price or value of a bitcoin?
• Simply , Determined by the Free Market
• May Fluctuates depending on demand
• How Much People Willing to pay like Gold, Silver and Stock.
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18. Real Example
• Pizza First Purchase  May 22nd, 2010
• 2 Pizzas  10,000 BTC  $25 USD
( i.e. 4 BTC = $0.01 USD)
Today 
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19. Getting started with BitCoin
• Learn About Bitcoin
• Choose Wallet
• Get an address
• Same like email address
• Good to have multiple address per single transaction
• Open Wallet
• Private and Public Key
• Get Bit Coin
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20. Contd…
• Spending BitCoins
• Over 160,000 business use bit coin at this moment
• Microsoft , Dell , Take payment as bit coin
• Gonna be universal Payment around the world in near Future !!
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21. Sending and receiving BitCoins
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26. BitCoin to Fait Coins
• Use Cryptocurrency Exchange
• coinbase.com , kraken.com, gemini.com, bistamp.com
• BitCoin Debit Card
• Sell them to someone else
• Local Trading sites
• Localbitcoins.com
• Sell Them at BTM
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27. Demonstration
• https://bitcoin.org/
• https://blockexplorer.com
• https://anders.com/blockchain/blockchain.html
• https://www.blockchain.com/charts
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28. Thank your for Your Patience !!!
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