SlideShare a Scribd company logo
1 of 34
National level Webinar
(21st – 24th June 2020)
PG & Research Department of Computer Applications organized
IoT – Applications and Machine Learning
O R G A N I Z I N G S E C R E T A R Y
D R . R . G U N A V A T H I ,
H E A D & A S S O C I A T E P R O F E S S O R ,
P G & R E S E A R C H D E P A R T M E N T O F C O M P U T E R A P P L I C A T I O N S
BLOCKCHAIN OVERVIEW
PRESENTED BY
M.VIVEK ANAND M.E.
ASSISTANT PROFESSOR
GALGOTIAS UNIVERSITY
MOB:7289996736
Mail:vivek395@gmail.com
AGENDA
Current banking system
Issues in trusted third party
Blockchain and its properties
Cryptocurrencies
Cryptographic basic involved in blockchain
Blockchain working
Types of blockchain
Application of blockchain
Benefits and unknown
Banking System
Transaction in a bank such as person A sends an amount to person B
bank checks whether person A has balance > transaction amount
Balance>transaction amount
Yes Balance=balance-transaction amount
No transaction Invalid
bank
Trusted third party
We can see the bank transaction details online or in a monthly statement
All the transactions are stored in a bank ledger, bank is maintaining all the transaction in a ledger
what will happen if the bank goes for a invalid transaction
you did not authenticate the transaction
your balance was not sufficient but transaction was done
Question: whether bank ledger is a tamper proof?
Answer: No
BANK FRAUDS
You never wrote a check but it was used for someone to pay
You signed a check for x amount but the amount field was modified
What will happen
If someone got your password
Redirected OTP to another sim
bank employee done something for a fraud transaction
if your monthly statement not balanced
How do we argue to the bank?
Whether bank maintaining 100% of integrity?
Is the bank transparent to us?
Third party issues
Supply chain is a process from manufacturing to delivery of goods
If we find a defect in any goods we cant able to find where that occurs.
Each and every person in various levels of supplychain management will blame each other
How do we find a truth?
What will happen if the land registering authority tampering the data of a land registration that
was done by you, but changed to someone?
How do you manage if the election commission or any person in election commission registering
your vote by someone?
Is all these thing transparent to us?
BLOCKCHAIN
Blockchain is decentralized, distributed, peer to peer, transparent network
Properties of Blockchain
Log of data maintained with digital signature
Immutable
Cryptographically secure
BITCOINS
Bitcoin is a cryptocurrency created in 2009. Marketplaces called “bitcoin exchanges” allow
people to buy or sell bitcoins using different currencies.
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi
Nakamoto.
Transactions are made with no middle men – meaning, no banks!
Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox
games.
The price of bitcoin skyrocketed into the thousands in 2017.
Buying bitcoins
Buy on an Exchange
Many marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different
currencies. Coinbase is a leading exchange, along with Bitstamp and Bitfinex. But security can be a
concern: bitcoins worth tens of millions of dollars were stolen from Bitfinex when it was hacked in
2016.
Transfers
People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending
cash digitally.
Mining
People compete to “mine” bitcoins using computers to solve complex math puzzles. This is how
bitcoins are created. Currently, a winner is rewarded with 12.5 bitcoins roughly every 10 minutes.
Bitcoin wallet
Bitcoin wallet
Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer.
The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for
goods or save their money.
The anonymity of bitcoin
Though each bitcoin transaction is recorded in a public log, names of buyers and sellers are
never revealed – only their wallet IDs.
While that keeps bitcoin users’ transactions private, it also lets them buy or sell anything
without easily tracing it back to them.
That’s why it has become the currency of choice for people online buying drugs or other illicit
activities.
Why bitcoin?
Bitcoins can be used to buy merchandise anonymously.
In addition, international payments are easy and cheap because bitcoins are not tied to any
country or subject to regulation.
Small businesses may like them because there are no credit card fees.
Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
CRYPTOCURRENCIES
SYMMETRIC CRYPTOGRAPHY
ASYMETRIC CRYPOGRAPHY
BLOCKCHAIN WORKING
HASHING
HASH PROPERTIES
Blockchain with hash
MERKLE TREE
BLOCKS
GENESUS BLOCK
Consensus
Types of blockchain
Public Blockchain Private Blockchain
Anyone can join without permission Need permission with proof
Everyone can run the node Everyone can’t run the node
Everyone can have access to audit, review Can’t audit blockchain
All are eligible to make transactions Can’t Make transactions
The process is slow due to more
transactions
The transactions are fast and easy
Can download the code and run on local
devices
Can’t download the code
POW vs POS
Application of Blockchain
Payment processing and money transfers
Monitor supply chains
Digital voting
Real estate, land, and auto title transfers
Food safety
Medical recordkeeping
Weapons tracking
Managing Internet of Things networks
SUPPLYCHAIN
Benefits and unknown
THANK YOU
PRESENTED BY
M.VIVEK ANAND
ASSISTANT PROFESSOR
GALGOTIAS UNIVERSITY
MOB:7289996736
Mail:vivek395@gmail.com

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Blockchain overview

  • 1. National level Webinar (21st – 24th June 2020) PG & Research Department of Computer Applications organized IoT – Applications and Machine Learning O R G A N I Z I N G S E C R E T A R Y D R . R . G U N A V A T H I , H E A D & A S S O C I A T E P R O F E S S O R , P G & R E S E A R C H D E P A R T M E N T O F C O M P U T E R A P P L I C A T I O N S
  • 2. BLOCKCHAIN OVERVIEW PRESENTED BY M.VIVEK ANAND M.E. ASSISTANT PROFESSOR GALGOTIAS UNIVERSITY MOB:7289996736 Mail:vivek395@gmail.com
  • 3. AGENDA Current banking system Issues in trusted third party Blockchain and its properties Cryptocurrencies Cryptographic basic involved in blockchain Blockchain working Types of blockchain Application of blockchain Benefits and unknown
  • 4. Banking System Transaction in a bank such as person A sends an amount to person B bank checks whether person A has balance > transaction amount Balance>transaction amount Yes Balance=balance-transaction amount No transaction Invalid bank
  • 5. Trusted third party We can see the bank transaction details online or in a monthly statement All the transactions are stored in a bank ledger, bank is maintaining all the transaction in a ledger what will happen if the bank goes for a invalid transaction you did not authenticate the transaction your balance was not sufficient but transaction was done Question: whether bank ledger is a tamper proof? Answer: No
  • 6. BANK FRAUDS You never wrote a check but it was used for someone to pay You signed a check for x amount but the amount field was modified What will happen If someone got your password Redirected OTP to another sim bank employee done something for a fraud transaction if your monthly statement not balanced How do we argue to the bank? Whether bank maintaining 100% of integrity? Is the bank transparent to us?
  • 7. Third party issues Supply chain is a process from manufacturing to delivery of goods If we find a defect in any goods we cant able to find where that occurs. Each and every person in various levels of supplychain management will blame each other How do we find a truth? What will happen if the land registering authority tampering the data of a land registration that was done by you, but changed to someone? How do you manage if the election commission or any person in election commission registering your vote by someone? Is all these thing transparent to us?
  • 8. BLOCKCHAIN Blockchain is decentralized, distributed, peer to peer, transparent network
  • 9. Properties of Blockchain Log of data maintained with digital signature Immutable Cryptographically secure
  • 10. BITCOINS Bitcoin is a cryptocurrency created in 2009. Marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox games. The price of bitcoin skyrocketed into the thousands in 2017.
  • 11.
  • 12. Buying bitcoins Buy on an Exchange Many marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Coinbase is a leading exchange, along with Bitstamp and Bitfinex. But security can be a concern: bitcoins worth tens of millions of dollars were stolen from Bitfinex when it was hacked in 2016. Transfers People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending cash digitally. Mining People compete to “mine” bitcoins using computers to solve complex math puzzles. This is how bitcoins are created. Currently, a winner is rewarded with 12.5 bitcoins roughly every 10 minutes.
  • 13. Bitcoin wallet Bitcoin wallet Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money.
  • 14. The anonymity of bitcoin Though each bitcoin transaction is recorded in a public log, names of buyers and sellers are never revealed – only their wallet IDs. While that keeps bitcoin users’ transactions private, it also lets them buy or sell anything without easily tracing it back to them. That’s why it has become the currency of choice for people online buying drugs or other illicit activities.
  • 15. Why bitcoin? Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
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  • 28. Types of blockchain Public Blockchain Private Blockchain Anyone can join without permission Need permission with proof Everyone can run the node Everyone can’t run the node Everyone can have access to audit, review Can’t audit blockchain All are eligible to make transactions Can’t Make transactions The process is slow due to more transactions The transactions are fast and easy Can download the code and run on local devices Can’t download the code
  • 30. Application of Blockchain Payment processing and money transfers Monitor supply chains Digital voting Real estate, land, and auto title transfers Food safety Medical recordkeeping Weapons tracking Managing Internet of Things networks
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  • 34. THANK YOU PRESENTED BY M.VIVEK ANAND ASSISTANT PROFESSOR GALGOTIAS UNIVERSITY MOB:7289996736 Mail:vivek395@gmail.com