2. ROADMAP:-
▶ INTRODUCTION
▶ OVERVIEW OF BLOCKCHAIN
▶ PRIVATE KEY CRYPTOGRAPHY
▶ PEER TO PEER NETWORK
▶ BLOCKCHAIN PROGRAM
▶ BLOCKCHAIN TRANSACTION
▶ TYPES OF BLOCKCHAIN
▶ BLOCKCHAIN USE CASES
▶ WHAT IS BITCOIN
▶ ISSUES WITH CURRENT BANKING SYSTEM
▶ HOW BITCOIN SOLVES IT
3. INTRODUCTION:-
Block chain can be called the spine of the entire crypto-currency system.
Block chain technology not only helps with the users perform transactions
using crypto-currencies but also ensures the security and anonymity of the users
involved.
It is a continuously growing list of records called blocks, which are linked and
secured using cryptographic techniques.
A Block chain can serve as “an open and distributed ledger, that can record
transactions between two parties in a verifiable and permanent way.” This ledger
that is shared among everyone in the network is public for all to view. This brings
in transparency and trust into the system.
4. OVERVIEW OF BLOCKCHAIN
▶ Blockchain is the technology used in bitcoin. It is a public distributed holding
encrypted ledgers.
▶ A block is the ‘current part of a blockchain which records some or all of the
recent transection, and once completed goes into the blockchain as
permanent database. Each time a block gets completed, a new block is
generated.
5. ▶Blockchain uses Private key cryptography
to secure identities and hash functions
to make the blockchain immutable.
▶ P2P machines on the network help in
maintaining the consistency of the
distributed ledger
▶ The program gives the blockchain its
protocol based on the requirement.
6. PRIVATE KEY CRYPTOGRAPHY
▶ Private key cryptography involves two diffirent keys,private and public.
▶ One key is purposely kept private, the other is provided to the other party.
▶ If you use private key to encrypt then the public key can be decrypt and vice versa.
▶ This is called asymmetric encryption
7. PEER 2 PEER NETWORK
▶ A peer-to-peer (P2P) network is created when two or more PCs are
connected and share resources without going through a separate server
computer.
▶ A P2P network can be an ad hoc connection a couple of computers
connected via a Universal Serial Bus to transfer files.
▶ A P2P network also can be a permanent infrastructure that links a half-
dozen computers in a small office over copper wires.
▶ A P2P network can be a network on a much grander scale in which
special protocols and applications set up direct relationships among users
over the Internet.
8. BLOCKCHAIN PROGRAM
▶ The blockchain is a way of implementing any solution
▶ Blockchain is a concept and can be implemented by any language
▶ Solidity is the most preferred default for writing program in blockchain.
9. BLOCKCHAIN TRANSACTION
▶ In any blockchain:-
▶ All transaction are logged including information on the time , data,
participants and amount of every single transection
▶ Each node in the network owns a full copy of the blockchain.
10. Transaction are verified by the Miners after
solving complex math puzzles and maintain the
ledger.
The mathematical principle ensure that the
nodes automatically and continuously agreeto
the current state of the ledger and every
transection in it.
If anyone attempts to corrupt a transection, the
nodes will not arrive at a consensus and hence
will refuse to incorporate the transection in the
blockchain.
12. ▶ PUBLIC:- Public blockchain have ledgers visible to everyone on the internet
and anyone can verify and add a block of transection to the blockchain.
▶ PRIVATE:-Private blockchain allow only specific people in the organization
to verify and add transection blocks but everyone on the internet is generally
allowed to view.
▶ CONSORTIUM:-here, only a group of organization(such as bank) can
verify and add transections but the ledger can open or restricted to select
groups.
13. BLOCKCHAIN IN A NUTSHELL
The use of mathematics T
o create a secure
Distributed
ledgers
Which enables
transection Without the
need for
third Parties.
15. IN BANKING
Blockchain could cut up to $20 billion in middle
man costs per year.
Hacking into banking becomes close to impossible.
Solve the double spending problem.
Reduces bank crises by a large extent.
16. IN PAYMENTS AND TRANSFERS
▶ Blockchain transfers are the highest in terms of security.
▶ Currently bitcoin runs on no fixed transection fess.
▶ No bank account required.
▶ Anonymity is maintained.
17. IN VOTING
secured record keeping and trusted tallies.
▶ Blockchains are the medium for casting, tracking and
counting votes without voter fraud, lost records or fowl play
▶ Increase voter turn out
▶ Elections require authentication of voters identity,
18. BITCOIN
The first decentralized crypto-currency.
Uses cryptography to control its creation and
management
Created and held electronically in a peer to
peer open ledger called the blockchain
Ledger is produced by people using software
that solves mathematically problems.
20. HOW BITCOIN SOLVE THIS ISSUES
Bitcoin blockchain has a
distributed ledger
The ledger is public for all to
access
Transection are
immutable , thus
cannot be hacked
Double spending is not allowed
because of the basic structure
of block transection
21. AND THE BEST THINGS OF CRYPTOCURRENCY IS THAT THE
TRANSECTION FEE IS ZERO OR VERY MINIMAL IN COMPARISON WITH
THE THIRD PARTIES SUCH AS BANK AND DIGITAL TRANSFER
SYSTEM.
