about blockchain

1. Blockchain
Meet P Barasara
CSD 2nd Year
1210213050100

2. • What is Blockchain?
• How Does Blockchain Work?
• Applications of Blockchain
• Advantages
• Disadvantages
• Conclusion
Points Of Discussion
• Types of Network

4. Why Do We Need Blockchain When We
Have Centralized Network For
Transaction?

5. • Transaction Can Be Failed Due To
• Technical Issues
• Account Hacked
• Transfer Limits
Problems with centralized authority
• Highly dependent on the network
connectivity if network of center fails,
whole system fails.
• Transparency

6. Do We Need Blockchain?
• For a transaction without any
centralized authority.
• To allow digital information to be
recorded and distributed, but
not edited.

7. • Blockchain is a distributed, and public digital ledger
that is used to record transactions across many
computers so that any involved record cannot be
altered without the alteration of all subsequent blocks.
• It is also a secure and immutable way of storing data
that is resistant to manipulation and fraud, making it
an ideal technology for financial transactions, asset
tracking, and data storage.
What is Blockchain?

8. Types Of Blockchain
• Public
• Private
• Hybrid
• Consortium
.

10. Does Blockchain Work?
• Blockchain works by creating a digital ledger of transactions that
are grouped together in blocks. Each block is linked to the
previous block in the chain, creating a chain of blocks. This chain
is secured using cryptographic principles, making it virtually
impossible to alter or remove any of the blocks.
• The data stored in the blocks is cryptographically secured and
immutable, meaning that it cannot be changed or manipulated.
This makes blockchain technology a secure and reliable way of
storing and transferring data.

11. About Block chain
• User has 2 keys
• private
• public
• Private key is only known to user.
• public key is known to everyone in
system.
• Bitcoins use SHA256 algotithm
• Ethereum use ETHASH algotithm

12. About Block
chain

13. A consensus algorithm is a procedure through which all the peers of the Blockchain
network reach a common agreement about the present state of the distributed ledger.
How Transaction Is
Approved?

14. Bitcoin
Mining
• Bitcoin mining is the process by which
Bitcoin transactions are validated digitally
on the Bitcoin network and added to the
blockchain ledger.
• And validators of this transactions are
refered as miners.
• And miners rewarded with bitcoin for their
work

15. Types of consensus
algorithm
• Proof Of work
• Proof Of Stack
• Proof Of Burn
• Proof Of Elapsed Time

16. Proof of
Work
• Proof of work (PoW) is a
form of adding new blocks of
transactions to a
cryptocurrency's blockchain.
The work, in this case, is
generating a hash that
matches the target hash for
the current block.

17. System For PoW

18. System For PoW

19. System For PoW

21. Proof of Stack

22. • instead of investing in expensive hardware equipment, validators
‘burn’ coins by sending them to an address from where they are
irretrievable. By committing the coins to an unreachable address,
validators earn the privilege to mine on the system based on a
random selection process. Thus, burning coins here means that
validators have a long-term commitment in exchange for their short-
term loss. The more coins they burn, the better their chances of
being selected to mine the next block.
Proof Of Burn

23. Proof Of Burn

24. Proof Of Elapsed
Time
• It is widely used in permissioned Blockchain
networks .In this algorithm, every validator on the
network gets a fair chance to create their own block.
All the nodes do so by waiting for a random amount
of time, adding proof of their wait in the block.
• Person with having least waiting time will win and
can add block to the blockchain.

25. General Idea Of Profit From
Mining

27. • financial transactions
• asset tracking
• data storage
• It can also be used to create decentralized
applications,which are applications that are not
controlled by any single entity.
• Blockchain technology is also being used to create
digital currencies, such as Bitcoin, which are
decentralized and secure. This makes them ideal
for financial transactions and asset tracking.
Applications of
blockchain

28. Advantages of
Blockchain
• Transparenc
y
• Censorship
• Traceability
• Can be use for
Voting
Fund raising
Supply Chain
Management
Asset Ownership
Internal Voting

29. Disadvantages of Blockchain
• Speed and performance
• High implementation cost
• Low
TPS

30. • In conclusion, blockchain technology offers a number of advantages,
including immutability, transparency, cost reduction, increased
efficiency, and improved security. These advantages make it a secure
and reliable way to store and transfer data, and can help businesses
save time and money.
• Blockchain technology is still in its early stages, but it has the potential
to revolutionize the way businesses operate. As the technology
continues to evolve, it is likely that more businesses will adopt it and
take advantage of its many benefits.
Conclusion

31. • Coinbase Institutional.
• Ethereum.
• Kaleido.
• Azure Blockchain Workbench.
• IBM Blockchain Platform.
• Platform 6.
• Corda.
• Hyperledger
Top Blockchain Platforms