Blockchain technology presentation

1. A
Seminar
On
Block chain Technology
BBDNITM(054)
By:-
1. Kailash Chandra

2. Outline
 What is a Blockchain ?
 Blockchain Cryptocurrency.
 History of Bitcoin
 Bitcoin Vs Blockchain
 Bitcoin Ecosystem and its Working
Cutting the Middleman
Building Consensus
Creating Witnesses
Key Features
Application’s of Block-chain
Challenges
References

3. What is a Blockchain?
 A block chain is a data structure, which is a growing list of
data blocks.
 A blockchain is a growing list of data blocks that are linked
together.
 The data blocks are linked together, such that old blocks
cannot be removed or altered.
Data
Reference
Data
Reference
Data
Reference

4. Block-chain Crypto-currency

5. The History of Bitcoin
2008
Idea was published
under the
pseudonym Satoshi
Nakamoto
2009
Start of the Bitcoin
Network
2010
Fist cryptocurrency
stock exchange is
launched
2011
One Bitcoin equals
one USD
2013
1 Bi tcoin equals
100 USD
2014
Microsoft accepts
Bit coin
2017
1 Bit coin equals
10,000 USD

6. Bitcoin ≠ Block-chain
Is an application of
blockchain technology
Bitcoin is a way to
digitally transfer ownership
without a middleman.
Is the underlying data structure,
which can be used for many things,
including cryptocurrencies
The blockchain is a database that
records ownership through time.

7. Bitcoin Ecosystem
 A public network in which anyone,
including a malicious participant, can
participate without restriction.
 Even though it is not organized by a
central authority, it works!
 The Bitcoin ecosystem is self-stabilizing.
The more participants the system has,
the more difficult manipulations become

8. Working of Bitcoin Ecosystem
Increased
Bitcoin Value
More Security
More
Participants

9. Cutting the Middleman
E.g. direct transfer of Bitcoins

10. Building Consensus
 After a finite time, all
participants agree on a
single state.
 E.g. on who owns
how many Bitcoin.

11. Creating Witnesses
 If something is published on a
public blockchain, all
participants become witnesses.
 This is used, for example, by
OriginStamp to create a secure
timestamp for documents.

12. Key Features
 Write-only, immutable,
transparent data storage
 Decentralized, no
need for intermediaries
 Consistent state
across all participants
 Resistant against
malicious participants
 Open to everyone

13. Application’s of Block-chain

14. Challenges
 Energy consumption
 Scalability
 Money laundering
 Personal responsibility

15. References
 Alabi, K. (2017). Digital block-chain networks appear to be following
Metcalfe's Law. Electro. Commerce Res. Appli. 24, 23–29. doi:
10.1016/j.elerap.2017.06.003
 https://scholar.google.com
 http://www.blockchain-ieee.org