Blockchain is a distributed ledger of transactions or digital events that is replicated across multiple computers. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. This design makes blockchains resistant to modification, as altering any block would require recalculating hashes for the entire chain. While blockchains offer advantages like disintermediation and robustness, they are slower than centralized databases due to the overhead of verification and consensus mechanisms.
A blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data.
Blockchain is a distributed database that maintains a continuously growing list of records called blocks. Each block contains a timestamp, a link to the previous block, and transaction data. By design, blockchains are resistant to modification of data once recorded. The blocks are distributed across peer-to-peer networks, encrypted, and linked together to ensure integrity. No single entity controls the blockchain, providing decentralization, transparency, and security.
Apart from Proof of Work there are many other Consensus Mechanisms being discussed. What are they and what are their pros and cons. (Proof of Stake, Proof of Elapsed Time, Proof of Authority, Proof of Burn, Proof of Authority, Byzantine Fault Tolerance, Proof of Importance)
Blockchain is a decentralized database that maintains a continuously growing list of records called blocks. Each block contains transaction data and a link to the previous block. The first block is special as it has no preceding block. Blocks are linked through cryptography, forming a chain. Miners process transactions by solving complex math problems to find new blocks and receive rewards. The first application was Bitcoin, solving the double spending problem without a central authority. Other applications include Ethereum, Litecoin, Ripple, and SolarCoin. Key variables that impact the blockchain include block size, header size, and transaction size.
Blockchain Interview Questions And Answers | Blockchain Technology Interview ...Simplilearn
The document provides information to differentiate between Blockchain and Hyperledger:
- Blockchain is a decentralized technology that records immutable transaction records in blocks secured by cryptography. It can be public, private, or consortium. Hyperledger is a platform that allows building private blockchains where access is limited.
This document provides an introduction to blockchain technology. It begins with defining blockchain as a distributed ledger that stores transactions immutably and cryptographically. It then discusses the history of blockchain by using the analogy of decentralized currency with rai stones in Yapis island. It explains how a centralized ledger with a bookkeeper evolved into a decentralized system where each family maintains their own ledger. The document goes on to describe how blockchain works, including the anatomy of blocks, typical transactions, validation through consensus, and the use of smart contracts. Finally, it outlines some common use cases and types of blockchain networks before opening for questions.
What are the main obstacles for use of Public Blockchains for real-world projects? Storage, Oracles, Smart Contract development, Governance, Confidentiality, User Authentication
A blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data.
Blockchain is a distributed database that maintains a continuously growing list of records called blocks. Each block contains a timestamp, a link to the previous block, and transaction data. By design, blockchains are resistant to modification of data once recorded. The blocks are distributed across peer-to-peer networks, encrypted, and linked together to ensure integrity. No single entity controls the blockchain, providing decentralization, transparency, and security.
Apart from Proof of Work there are many other Consensus Mechanisms being discussed. What are they and what are their pros and cons. (Proof of Stake, Proof of Elapsed Time, Proof of Authority, Proof of Burn, Proof of Authority, Byzantine Fault Tolerance, Proof of Importance)
Blockchain is a decentralized database that maintains a continuously growing list of records called blocks. Each block contains transaction data and a link to the previous block. The first block is special as it has no preceding block. Blocks are linked through cryptography, forming a chain. Miners process transactions by solving complex math problems to find new blocks and receive rewards. The first application was Bitcoin, solving the double spending problem without a central authority. Other applications include Ethereum, Litecoin, Ripple, and SolarCoin. Key variables that impact the blockchain include block size, header size, and transaction size.
Blockchain Interview Questions And Answers | Blockchain Technology Interview ...Simplilearn
The document provides information to differentiate between Blockchain and Hyperledger:
- Blockchain is a decentralized technology that records immutable transaction records in blocks secured by cryptography. It can be public, private, or consortium. Hyperledger is a platform that allows building private blockchains where access is limited.
This document provides an introduction to blockchain technology. It begins with defining blockchain as a distributed ledger that stores transactions immutably and cryptographically. It then discusses the history of blockchain by using the analogy of decentralized currency with rai stones in Yapis island. It explains how a centralized ledger with a bookkeeper evolved into a decentralized system where each family maintains their own ledger. The document goes on to describe how blockchain works, including the anatomy of blocks, typical transactions, validation through consensus, and the use of smart contracts. Finally, it outlines some common use cases and types of blockchain networks before opening for questions.
What are the main obstacles for use of Public Blockchains for real-world projects? Storage, Oracles, Smart Contract development, Governance, Confidentiality, User Authentication
Understanding Blockchain and why it's so popular? Harsh Kumar
Understanding Blockchain and why it's so popular? Why should you have the knowledge about the blockchain? How can it be revolutionary? To know more about blockchain and learn the Blockchain Technology you can visit: http://www.blazingminds.in/course-detail-blockchain.html.
Consensus Algorithms - Nakov @ jProfessionals - Jan 2018Svetlin Nakov
This document provides an overview of blockchain consensus algorithms including proof-of-work, proof-of-stake, delegated proof-of-stake, proof-of-authority, and PBFT. It discusses the requirements for consensus algorithms and describes how various popular cryptocurrencies implement different consensus mechanisms. Several Java-based blockchain projects are also mentioned, including IOTA, NEM, and TRON.
This document discusses smart contracts and the Æternity blockchain. It provides an overview of distributed ledger technologies and decentralized applications. It also describes how to set up the Æternity local test net and deploy and interact with smart contracts using the Sophia language. Sophia is an imperative and functional smart contract language used for building decentralized applications on Æternity. The document provides resources for learning more about Æternity development.
Introduction to Blockchain & developmentAbdullah Aziz
The document discusses blockchain concepts and provides a coding demonstration. It describes key blockchain characteristics like decentralization and immutability. It explains how hashing, Merkle trees, blocks and chains of blocks work to securely store transaction data. Forks that can occur when transactions conflict are also covered. The document differentiates between public and private blockchains. It then demonstrates coding a basic blockchain implementation, including functions for mining blocks and adding them to the peer-to-peer network.
Blockchain consensus algorithms allow distributed networks to agree on a single transaction history. The document discusses several popular consensus algorithms including proof of work (PoW), proof of stake (PoS), practical Byzantine fault tolerance (PBFT), Istanbul Byzantine fault tolerance (IBFT), proof of authority (PoA), and RAFT. It provides overviews of how each algorithm works and compares their properties such as finality, tolerance for malicious nodes, trust requirements, and energy usage.
Block Chain & Beyond is a presentation that defines key terms related to blockchain and digital currencies. It discusses problems with traditional online payment protocols like SWIFT, including high fees and slow settlement times. It then introduces blockchain and Bitcoin, explaining how the blockchain solves issues of double spending through cryptography, hash functions, and a consensus protocol where miners are incentivized to confirm accurate transaction records. It also briefly describes another consensus protocol called Ripple that enables real-time foreign exchange transactions through a distributed ledger approach.
The main things you need to know about blockchain:
+ What Is A Blockchain. Theory
+ Ordering Facts
+ Blocks
+ Mining
+ Money and Cryptocurrencies
+ Contracts
Распределенный blockchain процессинг / Алексей Трошичев (QiWi, Rakuten)Ontico
Проблема race condition в распределенных системах и существующие способы решения. Какие системы требуют строгой консистентности и почему?
Что такое blockchain, как сделать процесс его создания распределенным и как на базе него построить масштабируемую систему учета.
Горизонтальное масштабирование мультимастера до сотни узлов со строгой консистентностью без линейной потери скорости изменений.
Melanie Rieback, Klaus Kursawe - Blockchain Security: Melting the "Silver Bul...Codemotion
The document summarizes some of the security issues with blockchain technology. It discusses how blockchain is not a "silver bullet" and does not inherently solve problems like privacy and security of smart devices. It outlines various application security issues with complex code, protocols, and difficulty of updates on blockchains. Concerns over data immutability and security of smart contracts are also covered. The document questions whether blockchain truly provides the level of decentralization and anonymity claimed, and outlines some impossibility results and limitations of existing approaches to achieving security and privacy in blockchain systems.
Blockchain Technology Review and Its ScopeIRJET Journal
This document provides an overview of blockchain technology and its potential applications in the retail industry. It discusses how blockchain works as a distributed ledger that allows transactions to be recorded and shared across a network of computers. The document outlines several ways blockchain could benefit retailers, including improving supply chain management, enabling more customized customer profiling, increasing transparency, and enhancing loyalty programs. It also notes some challenges to blockchain adoption, such as the need for strong security and privacy protections. In conclusion, the document argues that blockchain is poised to significantly impact retailing by enabling benefits like increased customer satisfaction and higher profits for retailers.
This document discusses building a blockchain network without a central authority by using cryptographic techniques like public-private key pairs, digital signatures, and proof-of-work. It explains how transactions between parties can be recorded in a distributed ledger through digitally signing transaction receipts with private keys. It then discusses how proof-of-work can be used to establish consensus on the valid transaction history and prevent double spending by making it computationally costly to vote or generate transactions on the network.
Distributed Systems for Blockchain using CloudHridyesh Bisht
1. The document discusses implementing blockchain using cloud computing. Blockchain provides a distributed ledger and enables secure transfer of assets without intermediaries. It consists of blocks, miners, and nodes.
2. Several research papers are reviewed that propose using blockchain for data provenance in cloud storage. Blockchain can provide tamper-proof records and transparency of data accountability. It also enhances privacy and availability of provenance data.
3. Implementing blockchain using cloud computing provides benefits like better decentralization, efficient ownership tracking, increased data security, faster disaster recovery, and geo-independence. Security challenges like 51% attacks are also discussed.
Blockchain technology can be applied to space applications like supply chain management, healthcare, and finance. SpaceChain is building a decentralized blockchain infrastructure in space using aerospace engineering and blockchain development expertise. Blockchain uses a distributed ledger of encrypted blocks to securely record transactions without intermediaries. It incentivizes participation and deters hacking through economic incentives like rewards for adding blocks and penalties for malicious acts.
This presentation gives a short introduction into the design-patterns that are used to create crypto-currencies and describes 4 basis-applications the technology can be used for: Oracles, decentralized payment systems, token-systems and identity systems
Blockchain Scalability - Themes, Tools and TechniquesGokul Alex
This presentation is a deep dive on Blockchain Scalability Challenges, Constraints with a narrative on promising techniques such as State Channel, Side Chains, Simple Payment Vehicles, Consensus Algorithms and Directed Acyclic Graphs. The presentation starts with analysing the scalability cube.
During this presentation, we will cover a brief introduction into Blockchain technology, historic use cases & emerging trends for Blockchain technology. We will also touch on what to expect from Blockchain technology in 2019. It is important to understand the progress that is being achieved every day with every single step we take towards real use cases for Blockchain projects. 2019 might be the first year where the Blockchain starts to become a central part in people’s lives and in some industries.
Main points covered:
• Conduct a brief introduction to Blockchain technology;
• Discuss both historic use cases and emerging trends for Blockchain technology;
• What to expect from Blockchain technology in 2019
Presenter:
Our presenter for this webinar is Kenneth Kimbel, a Cybersecurity professional with over five years of overall experience providing diverse technology services in client-facing roles. Recent Master’s in Cybersecurity Risk Management as well as a JD with a Cybersecurity Law focus. Currently, Kenneth is a data privacy and Cybersecurity Advisory Consultant with Deloitte. He is also knowledgeable on both current technical and legal issues in security.
Date: March 27th, 2019
Recorded webinar: https://youtu.be/fLjVgj6MAPY
Blockchain is a database that contains linked blocks of transactions. Each block contains a list of transaction hashes and details like the sender and receiver. Transactions are ordered into blocks in a highly secure manner through cryptography. While private blockchains within companies are more like databases, public blockchains provide security through decentralization and incentives that prevent attacks by any single party controlling over 51% of the network. However, blockchain technology also faces challenges in scalability and adoption that will take continued development to fully address.
Demystifying Blockchain for businessesScott Turner
Blockchain is an open, distributed ledger that can record transactions between two parties efficiently and permanently. It works by linking transaction records into blocks secured by cryptography, forming a chain. Tampering with a block would change its hash and break the chain. Blockchains use consensus algorithms like proof-of-work and proof-of-stake to validate transactions without centralization. Smart contracts enable blockchain applications. Supply chain management may be a promising application area due to blockchain's decentralization, immutability, and transparency. Examples include partnerships between IBM/Walmart and Everledger for provenance tracking.
Boolberry improves on existing CryptoNote coins by calculating transaction IDs using only the transaction prefix, excluding ring signatures. This allows ring signatures to be cut off from old transactions, reducing block chain bloat by 55-90% compared to ordinary CryptoNote coins while still proving transactions belong to blocks. Boolberry is designed to be more efficient and provide a more compact, faster synchronizing block chain for a better user experience.
The document provides an overview of a blockchain conference agenda with the following key points:
- The schedule includes sessions on Bitcoin blockchain, use cases, smart contracts, blockchain fundamentals, and blockchain and databases.
- It defines participants, transactions, and contracts on blockchains. Participants are members with identities and roles. Transactions are asset transfers between participants. Contracts set conditions for transactions.
- It explains some core concepts of blockchains including that they are distributed secure logfiles, how they provide transparency and robustness without central control, and how mining and proof-of-work consensus keeps the network secure.
- It discusses the differences between permissioned and unpermissioned ledgers, and considerations for whether
Blockchain is a way of storing data in a way that makes it immutable and prevents tampering. It works by storing data in blocks that are chained together using cryptography. Each block contains a cryptographic hash of the previous block, linking the blocks together. This makes it very difficult to tamper with past data, as any change would require recalculating all subsequent hashes. Blockchains use a peer-to-peer network where each node maintains a copy of the chain. When a new block is created, it is distributed across the network and nodes must reach consensus on its validity before it is added to the chain. This process of proof-of-work secures the blockchain and distributed ledger.
Understanding Blockchain and why it's so popular? Harsh Kumar
Understanding Blockchain and why it's so popular? Why should you have the knowledge about the blockchain? How can it be revolutionary? To know more about blockchain and learn the Blockchain Technology you can visit: http://www.blazingminds.in/course-detail-blockchain.html.
Consensus Algorithms - Nakov @ jProfessionals - Jan 2018Svetlin Nakov
This document provides an overview of blockchain consensus algorithms including proof-of-work, proof-of-stake, delegated proof-of-stake, proof-of-authority, and PBFT. It discusses the requirements for consensus algorithms and describes how various popular cryptocurrencies implement different consensus mechanisms. Several Java-based blockchain projects are also mentioned, including IOTA, NEM, and TRON.
This document discusses smart contracts and the Æternity blockchain. It provides an overview of distributed ledger technologies and decentralized applications. It also describes how to set up the Æternity local test net and deploy and interact with smart contracts using the Sophia language. Sophia is an imperative and functional smart contract language used for building decentralized applications on Æternity. The document provides resources for learning more about Æternity development.
Introduction to Blockchain & developmentAbdullah Aziz
The document discusses blockchain concepts and provides a coding demonstration. It describes key blockchain characteristics like decentralization and immutability. It explains how hashing, Merkle trees, blocks and chains of blocks work to securely store transaction data. Forks that can occur when transactions conflict are also covered. The document differentiates between public and private blockchains. It then demonstrates coding a basic blockchain implementation, including functions for mining blocks and adding them to the peer-to-peer network.
Blockchain consensus algorithms allow distributed networks to agree on a single transaction history. The document discusses several popular consensus algorithms including proof of work (PoW), proof of stake (PoS), practical Byzantine fault tolerance (PBFT), Istanbul Byzantine fault tolerance (IBFT), proof of authority (PoA), and RAFT. It provides overviews of how each algorithm works and compares their properties such as finality, tolerance for malicious nodes, trust requirements, and energy usage.
Block Chain & Beyond is a presentation that defines key terms related to blockchain and digital currencies. It discusses problems with traditional online payment protocols like SWIFT, including high fees and slow settlement times. It then introduces blockchain and Bitcoin, explaining how the blockchain solves issues of double spending through cryptography, hash functions, and a consensus protocol where miners are incentivized to confirm accurate transaction records. It also briefly describes another consensus protocol called Ripple that enables real-time foreign exchange transactions through a distributed ledger approach.
The main things you need to know about blockchain:
+ What Is A Blockchain. Theory
+ Ordering Facts
+ Blocks
+ Mining
+ Money and Cryptocurrencies
+ Contracts
Распределенный blockchain процессинг / Алексей Трошичев (QiWi, Rakuten)Ontico
Проблема race condition в распределенных системах и существующие способы решения. Какие системы требуют строгой консистентности и почему?
Что такое blockchain, как сделать процесс его создания распределенным и как на базе него построить масштабируемую систему учета.
Горизонтальное масштабирование мультимастера до сотни узлов со строгой консистентностью без линейной потери скорости изменений.
Melanie Rieback, Klaus Kursawe - Blockchain Security: Melting the "Silver Bul...Codemotion
The document summarizes some of the security issues with blockchain technology. It discusses how blockchain is not a "silver bullet" and does not inherently solve problems like privacy and security of smart devices. It outlines various application security issues with complex code, protocols, and difficulty of updates on blockchains. Concerns over data immutability and security of smart contracts are also covered. The document questions whether blockchain truly provides the level of decentralization and anonymity claimed, and outlines some impossibility results and limitations of existing approaches to achieving security and privacy in blockchain systems.
Blockchain Technology Review and Its ScopeIRJET Journal
This document provides an overview of blockchain technology and its potential applications in the retail industry. It discusses how blockchain works as a distributed ledger that allows transactions to be recorded and shared across a network of computers. The document outlines several ways blockchain could benefit retailers, including improving supply chain management, enabling more customized customer profiling, increasing transparency, and enhancing loyalty programs. It also notes some challenges to blockchain adoption, such as the need for strong security and privacy protections. In conclusion, the document argues that blockchain is poised to significantly impact retailing by enabling benefits like increased customer satisfaction and higher profits for retailers.
This document discusses building a blockchain network without a central authority by using cryptographic techniques like public-private key pairs, digital signatures, and proof-of-work. It explains how transactions between parties can be recorded in a distributed ledger through digitally signing transaction receipts with private keys. It then discusses how proof-of-work can be used to establish consensus on the valid transaction history and prevent double spending by making it computationally costly to vote or generate transactions on the network.
Distributed Systems for Blockchain using CloudHridyesh Bisht
1. The document discusses implementing blockchain using cloud computing. Blockchain provides a distributed ledger and enables secure transfer of assets without intermediaries. It consists of blocks, miners, and nodes.
2. Several research papers are reviewed that propose using blockchain for data provenance in cloud storage. Blockchain can provide tamper-proof records and transparency of data accountability. It also enhances privacy and availability of provenance data.
3. Implementing blockchain using cloud computing provides benefits like better decentralization, efficient ownership tracking, increased data security, faster disaster recovery, and geo-independence. Security challenges like 51% attacks are also discussed.
Blockchain technology can be applied to space applications like supply chain management, healthcare, and finance. SpaceChain is building a decentralized blockchain infrastructure in space using aerospace engineering and blockchain development expertise. Blockchain uses a distributed ledger of encrypted blocks to securely record transactions without intermediaries. It incentivizes participation and deters hacking through economic incentives like rewards for adding blocks and penalties for malicious acts.
This presentation gives a short introduction into the design-patterns that are used to create crypto-currencies and describes 4 basis-applications the technology can be used for: Oracles, decentralized payment systems, token-systems and identity systems
Blockchain Scalability - Themes, Tools and TechniquesGokul Alex
This presentation is a deep dive on Blockchain Scalability Challenges, Constraints with a narrative on promising techniques such as State Channel, Side Chains, Simple Payment Vehicles, Consensus Algorithms and Directed Acyclic Graphs. The presentation starts with analysing the scalability cube.
During this presentation, we will cover a brief introduction into Blockchain technology, historic use cases & emerging trends for Blockchain technology. We will also touch on what to expect from Blockchain technology in 2019. It is important to understand the progress that is being achieved every day with every single step we take towards real use cases for Blockchain projects. 2019 might be the first year where the Blockchain starts to become a central part in people’s lives and in some industries.
Main points covered:
• Conduct a brief introduction to Blockchain technology;
• Discuss both historic use cases and emerging trends for Blockchain technology;
• What to expect from Blockchain technology in 2019
Presenter:
Our presenter for this webinar is Kenneth Kimbel, a Cybersecurity professional with over five years of overall experience providing diverse technology services in client-facing roles. Recent Master’s in Cybersecurity Risk Management as well as a JD with a Cybersecurity Law focus. Currently, Kenneth is a data privacy and Cybersecurity Advisory Consultant with Deloitte. He is also knowledgeable on both current technical and legal issues in security.
Date: March 27th, 2019
Recorded webinar: https://youtu.be/fLjVgj6MAPY
Blockchain is a database that contains linked blocks of transactions. Each block contains a list of transaction hashes and details like the sender and receiver. Transactions are ordered into blocks in a highly secure manner through cryptography. While private blockchains within companies are more like databases, public blockchains provide security through decentralization and incentives that prevent attacks by any single party controlling over 51% of the network. However, blockchain technology also faces challenges in scalability and adoption that will take continued development to fully address.
Demystifying Blockchain for businessesScott Turner
Blockchain is an open, distributed ledger that can record transactions between two parties efficiently and permanently. It works by linking transaction records into blocks secured by cryptography, forming a chain. Tampering with a block would change its hash and break the chain. Blockchains use consensus algorithms like proof-of-work and proof-of-stake to validate transactions without centralization. Smart contracts enable blockchain applications. Supply chain management may be a promising application area due to blockchain's decentralization, immutability, and transparency. Examples include partnerships between IBM/Walmart and Everledger for provenance tracking.
Boolberry improves on existing CryptoNote coins by calculating transaction IDs using only the transaction prefix, excluding ring signatures. This allows ring signatures to be cut off from old transactions, reducing block chain bloat by 55-90% compared to ordinary CryptoNote coins while still proving transactions belong to blocks. Boolberry is designed to be more efficient and provide a more compact, faster synchronizing block chain for a better user experience.
The document provides an overview of a blockchain conference agenda with the following key points:
- The schedule includes sessions on Bitcoin blockchain, use cases, smart contracts, blockchain fundamentals, and blockchain and databases.
- It defines participants, transactions, and contracts on blockchains. Participants are members with identities and roles. Transactions are asset transfers between participants. Contracts set conditions for transactions.
- It explains some core concepts of blockchains including that they are distributed secure logfiles, how they provide transparency and robustness without central control, and how mining and proof-of-work consensus keeps the network secure.
- It discusses the differences between permissioned and unpermissioned ledgers, and considerations for whether
Blockchain is a way of storing data in a way that makes it immutable and prevents tampering. It works by storing data in blocks that are chained together using cryptography. Each block contains a cryptographic hash of the previous block, linking the blocks together. This makes it very difficult to tamper with past data, as any change would require recalculating all subsequent hashes. Blockchains use a peer-to-peer network where each node maintains a copy of the chain. When a new block is created, it is distributed across the network and nodes must reach consensus on its validity before it is added to the chain. This process of proof-of-work secures the blockchain and distributed ledger.
Blockchain, Hyperledger, DeFi, Web 3.0 - understanding and conceptskeithfernandez19
Some research I have done on Blockchain fundamentals, different consensus mechanisms, Smart Contract and NFT overview, Sidechains leading up to web 3 and an analysis and learning on one of the biggest DeFi attacks that happened this year.
Blockchain Ecosystem and Cryptocurrency RegulationsAmir Rafati
A blockchain is a general digital ledger of transactions that are executed on the network, e.g. using Bitcoin to buy a cup of coffee is a transaction.
All users of the network, ‘Nodes’, have a copy of the transaction records and can access them freely, a role previously played by centralized institutions. Therefore, the blockchain network is ‘decentralized’.
The document discusses the architecture of blockchain technology. It describes how blockchain stores transaction data in blocks that are linked together in a chain. It then explains some key components of blockchain architecture, including transactions, blocks, peer-to-peer networks, and consensus algorithms. Transactions bundle sender/receiver addresses and values, blocks contain bundled transactions and metadata, peer-to-peer networks allow decentralized replication of the blockchain across nodes, and consensus algorithms like proof-of-work ensure consistency across copies of the ledger. Examples of blockchain projects like Bitcoin, Ethereum and Hyperledger are also summarized.
Blockchain is a distributed ledger that records transactions in chronological order in digitized blocks. Each block contains a cryptographic hash of the previous block, linking blocks together in a chain. The blockchain relies on a peer-to-peer network of computers to verify transactions without a central authority. Blockchain provides an accurate, permanent record of all transactions that have occurred on the network. Key features include decentralization, transparency, and security without the need for intermediaries.
This document discusses blockchain technology, including what blockchain is, how it works, types of blockchain networks, applications of blockchain, advantages and disadvantages. Blockchain is a distributed digital ledger that records transactions in blocks that are linked using cryptography. It allows for transactions to be recorded and distributed without a central authority. Consensus algorithms like proof of work are used to validate transactions and add new blocks to the blockchain. Blockchain has applications in financial transactions, asset tracking, data storage and decentralized applications. Its advantages include transparency, security and cost reduction. However, it also faces challenges related to speed and implementation costs.
Journey to Blockchain Scalability: A Close Look at Complete Scaling Solutions...Zeeve
The document provides an overview of blockchain scalability solutions for layer 1 (on-chain) and layer 2 (off-chain) blockchains. It discusses approaches like hard forking, segregated witness, and sharding for layer 1 as well as state channels, plasma, sidechains, rollups, and app-chains for layer 2. The scalability trilemma and trade-offs between scalability, security, and decentralization are also summarized. Examples of implementations are provided for many of the solutions.
The Blockchain - The Technology behind Bitcoin Jérôme Kehrli
The blockchain and blockchain related topics are becoming increasingly discussed and studied nowadays. There is not one single day where I don't hear about it, that being on linkedin or elsewhere.
I interested myself deeply in the blockchain topic recently and this is the first article of a coming whole serie around the blockchain.
This presentation is an introduction to the blockchain, presents what it is in the light of its initial deployment in the Bitcoin project as well as all technical details and architecture concerns behind it.
We won't focus here on business applications aside from what is required to present the blockchain purpose, more concrete business applications and evolutions will be the topic of another presentation I'll post in a few weeks
Blockchain is a decentralized and distributed ledger system that allows multiple parties to securely record and store information in a transparent and tamper-resistant manner. It works by creating a chain of blocks, with each block containing a set of transactions. This chain is then distributed across a network of computers, making it nearly impossible to alter. Key features of blockchain include decentralization, transparency, immutability, and security. While applications include cryptocurrency, NFTs, and supply chain management, challenges remain around scalability, energy consumption, and potential security flaws from 51% attacks.
Blockchain is a distributed ledger system that records transactions in blocks of data that are linked together via cryptography. Each participant maintains a copy of the ledger with all transactions. New transactions are distributed across the network, validated by consensus, and added to each participant's ledger in a new block. The use of cryptography makes the records immutable and resistant to hacking or modification (paragraph 1). Blockchains are composed of blocks of transactions, a chain that links blocks, and a peer-to-peer network of nodes that maintain the complete record (paragraph 2). Blockchain allows peers to transact without a central authority by reaching consensus on transactions and maintaining an identical record of the ledger through cryptography (paragraph 3).
Introduction to Blockchain Governance ModelsGokul Alex
The presentation on the history and emergence of distributed consensus and the contemporary aspects of Blockchain Governance presented for the Global FinTech and Blockchain Forum organised by Pyramid Learning Platforms.
Blockchain, the "distributed ledger" technology, has emerged as an object of intense interest in the tech industry and beyond.
Blockchain technology offers a way of recording transactions or any digital interaction in a way that is designed to be secure, transparent, highly resistant to outages, auditable, and efficient; as such, it carries the possibility of disrupting industries and enabling new business models.
Blockchain is a distributed ledger that records transactions in blocks of data that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. This design makes blockchains resistant to modification, as altering any block would require recalculating hashes for the entire chain. Blockchain technology provides a decentralized and secure way to record and share data across a network.
This document provides an overview of blockchain technology. It discusses why blockchain is important by outlining issues with existing banking systems. It then defines blockchain as an open distributed ledger recorded in a peer-to-peer network. The structure of blockchain uses blocks containing data, a hash, and the hash of the previous block, linking them together in a chain. Fundamentals like proof of work and encryption make blockchain secure and decentralized. Cryptocurrency and smart contracts are emerging applications of blockchain technology.
different consensus protocols in blockchian.pptxmeena466141
The document discusses various consensus mechanisms used in blockchain networks. It describes Proof of Work (PoW), Proof of Stake (PoS), Delegated Proof of Stake (DPoS), Practical Byzantine Fault Tolerance (pBFT), Proof of Weight (PoWeight), Proof of Capacity (PoC), Proof of Authority (PoA), and Proof of Importance (PoI). For each mechanism it provides details on how it works and its advantages and disadvantages.
Blockchain technology is currently taking over the world with its amazing features. This presentation covers all you need to know about the basics of blockchain technology with beautiful animations
Fueling AI with Great Data with Airbyte WebinarZilliz
This talk will focus on how to collect data from a variety of sources, leveraging this data for RAG and other GenAI use cases, and finally charting your course to productionalization.
Webinar: Designing a schema for a Data WarehouseFederico Razzoli
Are you new to data warehouses (DWH)? Do you need to check whether your data warehouse follows the best practices for a good design? In both cases, this webinar is for you.
A data warehouse is a central relational database that contains all measurements about a business or an organisation. This data comes from a variety of heterogeneous data sources, which includes databases of any type that back the applications used by the company, data files exported by some applications, or APIs provided by internal or external services.
But designing a data warehouse correctly is a hard task, which requires gathering information about the business processes that need to be analysed in the first place. These processes must be translated into so-called star schemas, which means, denormalised databases where each table represents a dimension or facts.
We will discuss these topics:
- How to gather information about a business;
- Understanding dictionaries and how to identify business entities;
- Dimensions and facts;
- Setting a table granularity;
- Types of facts;
- Types of dimensions;
- Snowflakes and how to avoid them;
- Expanding existing dimensions and facts.
For the full video of this presentation, please visit: https://www.edge-ai-vision.com/2024/06/building-and-scaling-ai-applications-with-the-nx-ai-manager-a-presentation-from-network-optix/
Robin van Emden, Senior Director of Data Science at Network Optix, presents the “Building and Scaling AI Applications with the Nx AI Manager,” tutorial at the May 2024 Embedded Vision Summit.
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4. • A blockchain is just a file, a data structure.
• Blockchain = Chain of blocks
• Where each block stores information of transactions and chained by
storing meta-data about the previous block
Blockchain
1
6. • Immutable means that something is unchanging over time or unable to be
changed, in our context, it means once data has been written to a
blockchain no one, not even a system administrator, can change it.
• In traditional systems, an end-user may have read-only access. He will not
be able to change the contents of a row in that database.
• However, someone with higher privileged access like a systems
administrator may be able to change the data.
• We try to create segregations of responsibility, so that no single person
can do something bad undetected. However there is no control
mechanism making the data immutable in the first place.
Immutability
1
7. • A hash function is a type of mathematical function which turns data into a
fingerprint of that data called a hash.
• SHA-256(Ahmedabad-Java-Meetup) =
6ffacd79bc7bad8ecf50f0394f6eb16aa39167482a2717108bc157647fb92b
51
• It’s hard to back-calculate the original data from the hash
• If the input data changes in the slightest, the hash changes in an
unpredictable way
Immutability in Blockchain
1
8. • Each block contains:
• Hash of contents of the block
• Hash of the previous block
• Data in a blockchain is internally
consistent, that is you can run
some checks on it, and if the
data and hashes don’t match
up, there has definitely been
some tinkering.
Immutability in Blockchain
1
9. Let’s first see what happens if you took Bitcoin’s Blockchain and copied it onto
a USB stick (it’s about 120GB). What could you do with the data on the stick
before passing it to someone else, like a regulator? Could you change the data
and fool them?
Bitcoin’s blockchain has nearly 470,000 blocks. Let’s say you remove a
transaction from block 250,000 which is about half way through the
blockchain, trying to pretend that a specific payment never happened. What
would happen?
What if someone wants to cheat?
1
10. 1. Hash of changed block fails, so he has to recalculate the hash of the block.
2. The chain fails, he will need to rebuild and rehash each block following
the tampered block, replacing the contents of the previous-block-hash
pointers.
However, there are safeguards to make it very hard or impossible to rebuild a
blockchain. These safeguards differ based on the block-adding mechanisms,
two dominant schemes are target hashes for proof-of-work public
blockchains; and specific signatures for (some) private blockchains.
What if someone wants to cheat?
1
11. Proof-of-work : Block is only considered valid if the block hash follows a strict
pattern - – namely the hash has to be smaller than a target number, often
described by “starting with a certain number of zeroes”.
Ex: SHA-256(block-data,previous-block-hash,nonce) must start with 0000
He needs to make sure that the recalculated hash is below a certain
number. Need to re-mine the block by adjusting another part of the block’s
contents (called the nonce) repeatedly until you find a hash that is smaller
than the target number. This takes some significant computational power.
And then do this for each and every block in the blockchain.
What if someone wants to cheat?
1
12. • Let’s say you manage to create an internally consistent blockchain by
removing the transaction and recreating all the block hashes to all conform
to the validation criteria.
• All it takes now for the regulator is to check other copies of the blockchain
– and check one single number – the hash of a recent block.
• If the hash on the last block on the USB stick is different to the hash that
they can find from any other (non-colluding) participant, then the regulator
can immediately spot that something fishy is going on and the data on the
USB stick is different to the data on the living blockchain.
• In other words, it is extremely difficult to try to create a fake blockchain.
What if someone wants to cheat?
1
13. Client-Server:
● The server holds 100% of the data, and the clients trust that the data is
definitive.
● This is very efficient, and a traditional model in computing.
How is new data communicated?
1
14. Peer-to-peer:
● A gossip network where each peer has 100% of the data (or as close to it as
possible), and updates are shared around.
● In some ways less efficient than client-server, as data is replicated many
times; once per machine, and each change or addition to the data creates
a lot of noisy gossip.
● Each peer is more independent, and can continue operating to some
extent if it loses connectivity to the rest of the network.
● More robust, as there is no central server that can be controlled, so closing
down peer-to-peer networks is harder.
How is new data communicated?
1
15. The problems with peer-to-peer:
With peer-to-peer models, even if all peers are ‘trusted’, there can be a
problem of agreement or consensus – if each peer is updating at different
speeds and have slightly different states, how do you determine the “real” or
“true” state of the data?
Worse, in an ‘untrusted’ peer-to-peer network where you can’t necessarily
trust any of the peers, how do you ensure that the system can’t easily be
corrupted by bad peers?
How is new data communicated?
1
16. • A common conflict is when multiple miners create blocks at roughly the
same time. Because blocks take time to be shared across the network,
which one should count as the legit block?
Consensus
1
17. • Let’s say you see 81a first. You can start building the next block on that,
trying to create 82a
Longest Chain Rule
1
18. • However in a few seconds you may see 81b. If you see this, you keep an
eye on it. If later you see 82b, the “longest chain rule” says that you should
regard the longer ‘b’ chain as the valid one and ignore the shorter chain. So
you stop trying to make 82a and instead start trying to make 83b
Longest Chain Rule
1
19. 1
Public vs Private BlockChain
Public
• Open read/write access to database
• Slower in Speed
• Proof-of-Work/ Proof-of Stake.
• Anonymous identity.
19
Private
• Permissioned read/write access to
database
• Faster in speed
• Pre-Approved Participants
• Known-identities
21. 1
Disintermediation (No middle-man)
BlockChain
• Transactions contain their own
proof of validity and their own proof
of authorization
• Offers a way to replace these
organizations with a distributed
database, locked down by clever
cryptography
• They leverage the ever-increasing
capacity of computer systems to
provide a new way of replacing
humans with code, which is a lot
cheaper
21
Centralized Databases
• The contents of a database are stored
in the memory and disk of a particular
computer system, and anybody with
sufficient access(mostly hired people in
organisations) to that system can
destroy or corrupt the data within
• As a result, the moment you entrust
your data to a regular database, you
also become dependent on the human
organization in which that database
resides.
22. 1
Confidentiality
BlockChain
• Every node has full visibility into the
database’s current state, the
modification requested by a
transaction, and a digital signature
which proves the transaction’s
origin, Such full transparency can be
deal-killers in some use cases.
• However there are some advances
which provides confidentiality at
the cost of computation (ex: zero
knowledge proof, confidential
transactions)
22
Centralized Databases
• Just like blockchains, they restrict the
transactions that particular users can
perform, but these restrictions are
imposed in one central location.
• As a result, the full database contents
need only be visible at that location,
rather than in multiple nodes.
• Requests to read data also go through
this central authority, which can accept
or reject those requests as it sees fit.
• In other words, if a regular database is
read-controlled and write-controlled, a
blockchain can be write-controlled only.
23. 1
Robustness
BlockChain
• Extreme fault tolerance, which
stems from their built-in
redundancy.
• Every node processes every
transaction, so no individual node is
crucial to the database as a whole.
• Nodes connect to each other in a
dense peer-to-peer fashion, so
many communication links can fail
before things grind to a halt.
• External users can send their
transactions to any node
23
Centralized Databases
• High availability is achieved through a
combination of expensive
infrastructure and disaster recovery.
• A primary database runs on high-end
hardware which is monitored closely
for problems, with transactions
replicated to a backup system
• If the primary database fails, activity is
automatically moved over to the
backup, which becomes the new
primary. While all this is doable, it’s
expensive and notoriously difficult to
get right.
24. 1
Performance
BlockChain
• Will always be slower than
Centralized databases, because of
the nature of blockchains as it
contains the following burden on
top things centralized systems do:
• Signature Verification
• Consensus Mechanism
• Redundancy
24
Centralized Databases
• Once a connection has been
established, there is no need to
individually verify every request that
comes over it
• Centralized databases must also
contend with conflicting and aborted
transactions, these are far less likely
where transactions are queued and
processed in a single location.
• It has to run the transactions just once
(or twice)
25. ● Smart Contract
○ Distributed ledgers enable the coding of simple contracts that will execute when
specified conditions are met.
○ Ethereum is an open source blockchain project that was built specifically to realize this
possibility.
○ For eg, a derivative could be paid out when a financial instrument meets certain
benchmark, with the use of blockchain technology and Bitcoin enabling the payout to be
automated.
● Sharing Economy
○ Sharing Economy is already flourishing with companies like Uber and AirBnb
○ Currently, user who want to have a ride have to depend on intermediary like Uber, Ola
○ By enabling peer to peer payments, blockchain opens the door to direct interaction between
parties.
Use Cases
1
26. ● Governance
○ By making the results fully transparent and publicly accessible, distributed database
technology could bring full transparency to elections or any other kind of poll taking.
○ Ethereum-based smart contracts help to automate the process.
● Supply Chain Auditing
○ Consumers increasingly want to know that the ethical claims companies make about their
products are real.
○ Distributed ledgers provide an easy way to certify that the backstories of the things we buy
are genuine
○ Transparency comes with blockchain-based timestamping of a date and location — on ethical
diamonds, for instance — that corresponds to a product number.
○ The UK-based Provenance offers supply chain auditing for a range of consumer goods.
Making use of the Ethereum blockchain, a Provenance pilot project ensures that fish sold in
Sushi restaurants in Japan has been sustainably harvested by its suppliers in Indonesia.
Use Cases
1
27. ● File Storage
○ Distributing data throughout the network protects files from getting hacked or lost.
○ Eg. IPFS(Inter Planetary File System),makes it easy to conceptualize how a distributed web
might operate. Similar to the way a bittorrent moves data around the internet, IPFS gets rid
of the need for centralized client-server relationships (i.e., the current web).
● Identity Management
○ Distributed ledgers offer enhanced methods for proving who you are, along with the
possibility to digitize personal documents
○ Having a secure identity will also be important for online interactions — for instance, in the
sharing economy.
● Stock Trading
○ When executed peer-to-peer, trade confirmations become almost instantaneous (as opposed
to taking three days for clearance.
○ Potentially, this means intermediaries — such as the clearing house, auditors and custodians
— get removed from the process.
Use Cases
1
28. • Ethereum is software running on a network of computers that
ensures that data and small computer programs called smart
contracts are replicated and processed on all the computers on the
network, without a central coordinator.
• Ethereum is for distributed data storage plus computations. The
small computer programs being run are called Smart Contracts,
and the contracts are run by participants on their machines using a
sort of operating system called a “Ethereum Virtual Machine”.
Ethereum
1
29. • A smart contract is some
code which automates the “if
this happens then do that”
part of traditional contracts
• With smart contracts running
on a blockchain, the logic is
run in parallel on all the
participating computers, and
the results are compared by
all participants.
Smart Contract
1
30. • Smart contracts are visible to all. This means anyone can look into a
smart contract, and if you like the logic, you can use it. If you don’t,
you don’t.
Smart Contract
1
31. Why Smart Contracts Useful?
• Lets say two banks have a trading agreement between them with
some pre-agreed trade terms with some external dependencies.
• Ideally they both should agree on the outcome of trade but it doesnt
happen always due to reasons like mutual misunderstanding of trade
terms, disagreement with what happened to external dependency
etc.
• Now, how smart contracts solve this?
• There is only one set of trade terms, written in computer code, which
is much less fluffy than legalese, and agreed upon up-front.
• The contract will live on a blockchain, and run when an event
happens or when the bet expires.
1
32. Why Smart Contracts Useful?
• The external dependencies (price of oil, share price of Apple, etc)
can be fed in via a mutually agreed feed.
• The bet payout can be stored in the smart contract itself: the contract
is “primed” by both parties funding the account with their maximum
loss, and then the payout occurs at the event
1
33. • Ethereum has a blockchain, which contains blocks of data
(transactions and smart contracts). The blocks are created or mined
by some participants and distributed to other participants who
validate them.
• Ethereum network is a public, permissionless network – ie anyone
can download or write some software to connect to the network and
start creating transactions and smart contracts, validating them, and
mining blocks without needing to log in or sign up with any other
organisation.
Ethereum
1
34. • Mining participants create valid blocks by spending electricity to find
solutions to a mathematical puzzle.Hence, it is also a Proof-of-Work
mining
• Ethereum has its inbuilt cryptocurrency “ether” just like bitcoin.
• Ethereum’s block size is defined in terms of “gas” limit per block in
contrast to Mb size in BTC.
• For eg. a block can have size of 1,500,000 Gas. And the basic
transaction requires around 21000 gas so total of 1,500,000/21000 =
70 transactions can fit into one block.
Ethereum
1
35. • Smart Contracts are written in solidity language that is created by
ethereum organisation itself.
• When you activate a smart contract, you ask all the miners in the
whole network to each individually perform the calculations within it.
This costs them time and energy, and Gas is the mechanism by
which you pay them for that service.
• Payment (in ETH) = Gas amount (in Gas) x Gas price (in ETH/Gas)
Ethereum
1
38. 1. Create two payments with the same bitcoins: one to
an online retailer, the other to yourself (another
address you control)
2. Only broadcast the payment that pays the retailer
3. When the payment gets added in an honest block,
the retailer sends you goods
4. Secretly create a longer chain of blocks which
excludes the payment to the retailer, and includes the
payment to yourself
5. Publish the longer chain. If the other nodes are
playing by the “longest chain rule” rule, then they will
ignore the honest block with the retailer payment,
and continue to build on your longer chain. The
honest block is said to be ‘orphaned’ and does not
exist to all intents and purposes.
6. The original payment to the retailer will be deemed
invalid by the honest nodes because those bitcoins
have already been spent (in your longer chain)
Double-Spend
1
39. • What about trying to change the existing data in a blockchain that you are
participating in?
• How would you try to get an amended block accepted by others in the
network?
Changing a blockchain mid-flight
1
40. • So if you rebroadcast an amended block 250,000 you are in effect creating
a blockchain ‘fork’ which is much shorter than the real chain (whose length
is, say, 470,000).
• There are now two competing blockchains, one which is 250,000 blocks
long and contains your amended block, and another which is 470,000
blocks long.
• Existing nodes will accept your block (if it’s valid) but then immediately
ignore it because they already know about the existing longer chain.
Changing a blockchain mid-flight
1
41. • The only way is to make the change and create a longer chain, requiring
lots of computing power and push an entirely new lineage of blocks out,
longer than the existing one.
• You need a significant amount of computing power to be in with a chance
of outcompeting an existing proof-of-work chain like Bitcoin.
• And even if you manage to do this, although technically your new chain
would be valid, realistically the community would notice if there was a
block re-organisation more than a few blocks deep; this would get
investigated.
Changing a blockchain mid-flight
1