BLOCKCHAIN TECHNOLOGY By Animes matia(BCA final sem).pptx
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This document summarizes a seminar presentation on blockchain technology. It defines blockchain as a growing list of records called blocks that are linked using cryptography across a peer-to-peer network. Each block contains an index, timestamp, hash of the previous block, data, and nonce. There are three main types of blockchains: public, private, and federated. The document discusses how blockchain works, why it is secure, applications, advantages like fraud prevention and instant transactions, disadvantages like volatility and problems for non-tech savvy users, and concludes that blockchain has brought revolutionary changes in decentralized systems.
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Running head BLOCKCHAIN TECHNOLOGY BEYOND CRYPTOCURRENCY1B.docx
Running head: BLOCKCHAIN TECHNOLOGY: BEYOND CRYPTOCURRENCY
1
BLOCKCHAIN TECHNOLOGY: BEYOND CRYPTOCURRENCY
7
Block-chain Technology: Beyond Crypto-currency
Christophe Bassono
University of Nebraska Omaha
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Block-chain Technology: Beyond the Crypto-currency
Contents
Contents
2
Abstract
3
Introduction
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Fundamentals of Block-chain Technology
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Application of Block-chain Beyond Crypto-currency
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Future of Block-chain
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Conclusion
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Abstract
Block-chain is relatively new; therefore, a representative research sample is presented that spans over the last couple of years from the earlier literature addressing the field. The different usage types of Block-chain, as well as the digital ledger methods, applications, challenges privacy, and security issues, are examined. The technology constitutes two distinct components including block and transaction. Block refers to the collection of data, transaction recording, as well as other related details such as the creation of timestamp, correct sequence, et cetera. Blockchain which is the digital technology fundamental for crypto-currency has managed to bring forth a novel revolution through the provision of a mechanism that can be used for peer-to-peer transactions (P2P). The blockchain is a globally accepted ledger that is capable of achieving numerous new applications beyond transaction verification. Bitcoin that is progressively gaining awareness around the world is a vital example of Blockchain in practice. The block-chain technology is still at the stage of building up and is expected to be full-blown in the next few years. Introduction
The predominant goal of this proposal is to outline the literature on the functionality of Block-chain and other techniques of the digital ledger in several different spheres of influence beyond its use to crypto-currency and to come up with an appropriate conclusion. The technology of block-chain is relatively new; therefore, a representative research sample is presented that spans over the last couple of years from the earlier literature addressing the field. The different usage types of Block-chain, as well as the digital ledger methods, applications, challenges privacy, and security issues, are examined. However, the main focus of this proposal is to determine the most auspicious for future application of Block-chain beyond crypto-currency.
Block-chain is the technology that facilitates the system of Bitcoin crypto-currency, which is also regarded to be important in the formation of the backbone that guarantees privacy and security of several applications in different areas such as the eco-system of the Internet of Things. The block-chain technology has also been successfully applied in the industrial and the educational sectors (Pilkington, 2016). A Proof-of-Work, which is a mathematical challenge, guarantees the security of the chain-block by maintaining the transactions of the digital le.
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Block-chain Technology: Beyond Crypto-currency
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- 3. CONTENTS What is Blockchain Technology ? What is a block ? Content of a block . Types How it works ? Why block chain technology is more secure ? Applications Advantages Disadvantages conclusion
- 4. WHAT IS BLOCKCHAIN TECHNOLOGY ? A Block Chain is an open , distributed ledger which is a growing list of records called blocks that’re linked using cryptography across a peer-to-peer network .
- 6. WHAT IS BLOCK ? WHAT ARE ITS CONTENTS ? Block chain starts with a block called “Genesis Block” stores the following information in it : INDEX : Position of the block in the block chain . Time Stamp : The time when that particular block was created. Hash : Numeric value that uniquely identifies data . Previous Hash : Hash value of the previous block . Data : Data stored on a node . Nonce : It is a number used to find a valid hash .
- 9. HOW IT WORKS ?
- 10. WHY BLOCK CHAIN IS MORE SECURE ?
- 11. APPLICATIONS
- 12. ADVANTAGES Zero percentage of fraud No government interference Instant transaction Improved financial efficiency
- 13. DISADVANTAGES Extremely volatile Crime Problem for not tech savvy
- 14. CONCLUSION Block chain has brought a revolutionary change in decentralized management system . It is disrupting the traditional boundaries of values .since it is not well known , not a mature thing yet , everyone is trying to see what can be done with it .
- 15. REFERENCE • https://www.redbytes.in • https://www.google.com • http://www.youtube.com
- 16. THANK YOU