This document provides an overview of block-chain technology and how it works. It explains that block-chain was originally created for Bitcoin as a digital ledger that distributes transaction data across a network of computers. Each computer holds a copy of the ledger and transactions are verified through consensus protocols. This makes the records more secure and transparent than a centralized system by preventing fraudulent transactions. The document also discusses how block-chain could improve online transactions by lowering security risks and errors through its distributed structure.

1. Concept of Block-Chain technology
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3.  Ingenious invention of a person known as
Satoshi Nakamoto.
 Originally devised for the digital currency, Bitcoin.
 A spreadsheet that is duplicated thousands of times
across a network of computers which is regularly
updated.
 Information held on a blockchain exists as a shared
— and continually reconciled — database

4. What is Block-Chain technology
• Cryptocurrencies work on the block-chain technology,
and this technology is being seen as the way of the
future transactions.
• Block-chain technology is simply a digital ledger
created for transactions.
• It was originally written for Bitcoin.
• This technology distributes transactional data transparently
through a series of interconnected systems or computers.

5. How does this technology works
• Instead of relying on a third party controller, transactions
in this technology are mediated by participants using a
consensus protocol on ledger content (pre-agreed
rules).
• They transaction integrity is maintained by using
cryptographic hashes and digital signatures.
• The shared ledgers here are identical, based on the
established consensus, which lowers the risk of
fraudulent transactions.

6. Why use Blockchain technology
• There are two big changes this technology promises to bring
in the online transactions avenue.
– Firstly, it lowers the risk of information theft or misuse, owing to its
structure of the peer-to-peer network.
– Secondly, in case of an error in a certain transaction, the remaining computers in the
network can easily overrule the faulty one preventing the probability of fraudulent
transactions considerably.
• Unlike traditional technologies, where a central server manages or stores all the data,
becoming highly vulnerable to security attacks, block-chain technology actually
distributes the data using cryptography, which in turn secures sensitive information.
• Hence, with block-chain technology, all the data is being stored on a series or a network of
computers connected to each other, rather than on a single central server.
• So if one computer from the whole network is corrupted or attacked, a timestamp
stored on another computer in the chain or network can counteract its effect.
• Beyond security benefits, this technology also offers a more democratic and
transparent, data distribution method across supply chains.

7. Current Monetary
System
EVOLUTION OF MONETARY
SYSTEM

9.  Issues with the current System
• Double Spending
• Fake digital certificates are used to initiate fake transactions without
enough balance
• Standard Transaction Fees
• Transaction Delays

11. How Blockchain
works

13. A block records some or all if the recent transactions and completed ones are added in to the
blockchain as permanent database and a new block is generated.

15.  Public Key Cryptography is used for encryption
 Sender + Receiver + amount of Bitcoins to be send > hashed to
particular hash value
 Apart from this there is a Digital Signature ( Hashed value of
private
Key and amount of bitcoins )
 Decrypt these values and compared to ensure the data is secure

16. Peer to Peer
Network
 Node is anyone associated with the
block Chain system
 Full Node – Complete block chain
and ledger
 Minor Node – People who
validate transaction and builds
new node

19. What is BITCOIN
NEWMODE OF
TRANSACTION

20.  First Decentralized Cryptocurrency
 Uses cryptography to control its creation and
management
 Various cryptography technologies and
mathematical algorithms for creating Bitcoins
are very complicated
 Total Bitcoins are limited to 21 Million
 Last bitcoin will be mined only by 2040

22. Thank You