This document provides an introduction to blockchain technology. It defines key blockchain concepts like blocks, blockchains, consensus algorithms, and mining. It explains how blockchain works through transactions being grouped into blocks and added to the distributed ledger across nodes in the network. Examples of real-world blockchain applications are given for voting systems, supply chain management, and healthcare data sharing. Benefits of blockchain include transparency, decentralization, and open source development, while challenges include limited production experience and need for customer education.

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Introduction to
Blockchain
By: Vidhi Kalola

2. Agenda
• Introduction to Blockchain
• Blockchain vs cryptocurrency
• Bitcoin vs Ethereum
• Real life and industrial examples
• Business example
• Benefits & challenges
• Q & A

3. Basic Blockchain terminology
• Block
• Blockchain
• Consensus
• Mining
• Distributed Ledger
• Peer to peer
• Proof of Work

4. Block
• Block is a set of validated transactions and pointing to next block in the Blockchain
or we can term it as container data structure. It is stored at each if the node on
network (in case of bitcoin). Each block contains three items:
(i) Header
(ii) Set of transactions
(iii) Hash pointer to previous block
• Header- The header contains metadata about the block. As described by (Cosset,
2017) , there are three different sets of metadata as per Bitcoin Blockchain.
• The hash of previous block – Every block N contains the Hash value of Block N-1.
• Mining competition – This contains the timestamp, nonce and the difficulty.
Mining concepts are discussed in more detail consensus algorithms.
• Merkel tree root – This data structure summarizes the transactions in the given
block.

5. Visual Representation of a Block
Timestamp: 27th June, 2018
18:31:00 IST
Transactions: …..
Previous Block reference: 525252
Next block reference: 525254
Validation nonce: Hash(T1T2T3T4)
Block 525253
Block 525252
Block 525254

6. Blockchain
● Blockchain is a distributed, decentralized and immutable database existing
on multiple computers at the same time.

7. Centralized, Decentralized and distributed ledgers
The New Networks
Distributed ledgers can be public or private
and vary in their structure and size.
Public blockchains
Require computer processing power to
confirm transactions (‘ mining’ )
- Users (0) are anonymous
- Each user has a copy of the
ledger and participates in
confirming transaction
independently
- Users (0) are not anonymous
- Permission is required for users
to have a copy of the ledger and
participate in confirming
transaction

8. Blockchain vs Cryptocurrency
● Goes hand in hand
● Blockchain technology supports Cryptocurrency
● Bitcoin is best known Cryptocurrency

9. How Blockchain works
A want to send
money to B Transaction
requested as block
to connected
network
Block is broadcast to every
node on the network
A transaction is approved by
the node in the network
The money added
to B’s Account
A
B

10. Real life and industrial examples
• Real time examples:
(i) Voting system
• Industrial examples:
(i) Everledger
(ii) Walmart
(iii) Microsoft

11. Business examples
Blockchain use case in Healthcare
Patient consent and Health data management
● Patient control his/her own data
● Secure medical data exchange
● Blockchain ensure consent, compliance, auditability, provenance
and governance

12. Benefits, challenges and pitfalls
Benefits Challenges Pitfalls
● Greater Transparency
● JavaScript based
● Decentralized
● Open source & community
support
● Adoption of technology
● Limited production
experience
● Not 100% decentralized
● Availability of developers
● Opinions & Experience
● New technology - so
many of un-supported
tools and libraries
● Designing a good
blockchain solution
● Customer education

13. Effects and Future of Blockchain
• Internet of things: Decentralized devices developed by
Samsung and IBM
• Ride sharing application: Why to have middle men like Uber
and Ola.
• Retail store: Blockchain poses great impact in the online retail
industry.
• Indiachain: Tamper proof degree certificate.

14. Questions and Answers

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