Block Chain Technology
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1.Introduction:- principal theories of block chain architectures used today were first outlined and defined in the original bit coin white paper written and published by Satoshi Nakamoto in 2008. 2.What is a Block chain ? A block chain is a digitized, decentralized, public ledger of all transactions The block chain is immutable — information remains in the same state for as long as the network exists. 3.Types of Block chain *Public *Private *Hybrid
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This document discusses blockchain technology and its applications. It begins by defining blockchain as a shared ledger that records transactions in blocks linked through cryptography. It then discusses how blockchain can provide security, transparency and immutability for both public and private records. The document also examines challenges around data growth, potential solutions using blockchain, and security issues and attacks against blockchain systems. It provides examples of blockchain applications in government services, healthcare, manufacturing and more. Finally, it summarizes that blockchain introduces a new way to securely exchange digital assets and transactions in a decentralized manner.
blockchain technology
The document provides a gentle introduction to blockchain technology through a summary of key concepts:
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- Blockchains use cryptography and digital signatures to prove identity and enforce read/write access rights for participants.
- The document discusses public vs private blockchains and how the necessary technologies differ depending on whether participants are known/vetted.
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A blockchain is, in the simplest of terms, a time-stamped series of immutable records of data that is managed by a cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) is secured and bound to each other using cryptographic principles (i.e. chain).
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Blockchain is a decentralized database that maintains a continuously growing list of records called blocks. Each block contains transaction data and a link to the previous block. The first block is special as it has no preceding block. Blocks are linked through cryptography, forming a chain. Miners process transactions by solving complex math problems to find new blocks and receive rewards. The first application was Bitcoin, solving the double spending problem without a central authority. Other applications include Ethereum, Litecoin, Ripple, and SolarCoin. Key variables that impact the blockchain include block size, header size, and transaction size.
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This will be used as part of your Personal Professional Portfolio once graded.
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Block Chain Technology
- 1. PRESENTED BY: A. VAMSI KRISHNA
- 3. Introduction: principal theories of block chain architectures used today were first outlined and defined in the original bit coin white paper written and published by Satoshi Nakamoto in 2008.
- 4. What is a Block chain ? A block chain is a digitized, decentralized, public ledger of all transactions The block chain is immutable — information remains in the same state for as long as the network exists.
- 5. Types of Block chain *Public: *Private: *Hybrid:
- 8. DECENTRALIZED SYSTEM: “A decentralized system is one which requires multiple parties to make their own independent decisions”. DESTRIBUTIVE LEDGER: Distributed ledger technology refers to fast-evolving recording and sharing data across multiple data stores(or ledgers). SHA-256: SHA-256 is a cryptographic hash algorithm. a cryptographic hash is a kind of “signature” for a text or a data file. CONSENSUS: The node which are used for the block chain that group of nodes are called as consesus
- 9. Crypto currency transantions Health care services IOT Registration department Applications
- 10. Speeding up transactions Real-time processing and settlement of transactions. Reducing transaction fees and complexity Reducing data entry duplication and reconciliation. Increasing resilience Due to the distributed nature of block chain, there is no single point of failure. Benefits of Blockchain:
- 12. CONCLUSION: Block chain technology could be quite complementary in a possibility space for the future world that includes both centralized and decentralized models.