Blockchain is a distributed ledger that records transactions in blocks of data that are linked using cryptography. It allows transactions to be recorded and verified without a central authority. Blockchain has the potential to reduce costs, speed up transactions, increase transparency and decentralize control. It can be used for applications like payments, voting, supply chain tracking, cloud storage and smart contracts. While it started with Bitcoin, blockchain technology is now being explored for many other uses across industries.

1. Block Chain

2. What is Blockchain?
• Blockchain ≠ Bitcoin
• Blockchain is the technology behind the bitcoin.
• Bitcoin is the digital token and blockchain is the ledger that
keeps the rrecord of who owns the digital tokens.
• You can’t have bitcoin without blockchain, but you can have
blockchain without bitcoin.
• A blockchain has the technical, business and legal
definitions.

3. DEFINITION OF BLOCKCHAIN
• Technically, The blockchain is a back-end database that
maintains a disturbed Ledger that can be inspected openly.
• Business-wise, The blockchain is an exchange network for
moving transactions, value, assets between peers, without
the assistance of intermediaries.
• Legally speaking, The blockchains validates transactions,
replacing previously trusted entities.

4. Blockchain:

5. Blockchain continues…
People use the term blockchain technology to mean the differet
things, and it can be confusing. Sometimes they are talking
about the The Bitcoin Blockchain, Sometimes it’s The
Ethereum Blockchain. Most of the time though they are
talking about distributed ledgers, i.e A list of transactions that is
replicated across a number of computers, rather than being
stored on a central server.

6. How a blockchain works?

7. Elements of Blockchain
• Nodes
• Miners
• Ledger (Block/Blockchain)
• Proof of work
• Network Consensus
• Difficulty level
• Double spending problem

8. Working:
• A blockchain is a type of diary or spreadsheet
containing information about transactions.
• Each transaction generates a hash.
• A hash is a string of numbers and letters.
• Transactions are entered in an order in which they are
occurred. Order is very important.
• The hash depends not only on transaction but the
previous transaction’s hash.
• Even a small change in transaction creates a
completely new hash.

9. • The nodes check to make sure a transaction has not
been changed by inspecting the hash.
• Each block refers to a previous block and together
make the blockchain.
• A blockchain is effective as it is spread over many
computers, each of which have a copy of
blockchain.
• These computers are called nodes.
• The blockchain updates itself every 10 minutes.

10. Types of Blockchain
A blockchain has two types:
• Private Blockchain
• Public Blockchain
• Private Blockchain:
The private blockchains are:
• Faster
• Always Managed Upkeep
• Have private membership
• Are trusted
• And are Legal

11. • Public Blockchain:
The public blockchains are:
• Are slower
• Has Public Ownership
• Are open and transparent
• Are Trust-Free
•And are Allegal

13. Why Blockchain is Important?
Blockchain is so important because it opens a new world of
possibilities, with numerous applications and a high
disruption potential.
Have a look at this chart:
As you can see there are multiple applications for this
technology across very different sectors.

14. Uses of Blockchain
• BitPesa:
It is a digital foreign exchange and payment platform for
frontier markets.
• Storj
It is a cryptocurrency and a digital payment system.
• Riot Bloackchain:
It is a type of Blockchain.

15. Uses Continues…
• Golem
Golem is a global, open source, decentralized supercomputer that anyone can
access.
• Open Bazaar
It is one of the first marketplace that accepts cryptocurrency for transactions.
• Chronicled
Its collest features allow for better supply chain control.

16. Advantages of Blockchain
• Transparency:
Users or developers have the oppurtunity to modify it as they fit. This makes
blockchain a particulary safe technology.
• Reduced Transaction Costs:
Blockchain allows peer to peer and business to business transactions to be
completed without the need for the third party. It means they can actually reduce
costs to the business or user over time.

17. • Faster Transaction Settlements:
Blockchain technology is working 24 hours a day, 7 days a week,
meaning blockchain based transactions process more quickly.
• Decentralization:
Blockchain actually allows individual transactions to have their
own proof of validity and tge authority to enforce those
constraints.
• User Controlled Networks:
Rather than having third party run the show, users and
developers are the one who get to call the shots.

18. Applications of Blockchain
✅ Smart Contracts:
This project is a decentralized platform that runs smart contracts:
applications that runs exactly as programmed without any possibilty of
downtime, fraud or third-party ownership.
✅ Cloud Storage:
Simply using access hard drive space, users could store the traditional
cloud 300 times over.

19. ✅ Paying Employees:
Payments Made via bitcoins can save both money and time
for emploers and employees.
✅ Electronic Voting:
Delegated proof of stake (DPOS), is a fastest, most efficient,
most decentralized, And most flexible consensus model
available.
✅Supply-Chain communication:
Most if the thing we buy aren’t made by a single entity, but
by a chain of suppliers who sell their components.

20. Conclusion Of Blockchain
• Blockchain is a shared replicated ledger.
• IBM sports an open-standards, open source, open governace blockchain.
• Blockchain can open up business networks by taking out costs,
improving efficiencies and increase accessibilty.
• Blockchain addresses an exciting and topical set of business challenges,
which cross every industry.