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By:- Solanki Bhargav
⇢ What is BLOCK CHAIN?
⇢ Brief History of Block Chain
⇢ Bitcoins
⇢ Distributed Ledger
⇢ Example of Block Chain
⇢ Proof of Work
⇢ Peer-to-Peer Network
⇢ Recent Developments of Block Chain
“Block Chain”
is the structure of
data that represents
a financial ledger
entry, or a record of
a transaction. Each
transaction is
digitally signed
to ensure its
authenticity.
What is BLOCK CHAIN?
Intended to
Timestamp digital
documents so that
its not possible to
camper with them.
History of Block Chain
“Bitcoin”
is a form of
digital currency,
a new form of
money, that
is tradable
throughout
the world.
Bitcoin
“Distributed ledger”
is a consensus of
replicated,digital
data geographically
spread across
multiple sites,
countries...
Distributed Ledger
Each Block
contains:
Data, Hash,
Hash of previous
Block
Describing a Block
The Data that
is stored inside a
block depends
on the type of
Block Chain.
Contd..
Hash is always
Unique just as a
fingerprint..
Contd..
The Block which
cannot point to the
previous block is
called as the
“Genesis Block”
Example of Block Chain
Changing a Single
block will make all
following blocks
Invalid..
Contd..
In Bitcoins case,
It takes about
10 minutes to
calculate the Proof
of Work and add a
new block to the
chain.
Contd..
Instead of using
central entity to
manage the chain,
Block Chains use a
“Peer-to-Peer”
network.
In a Network, If
someone creates
a New Block,
It is send to
everyone in the
Network.
Contd..
“Consensus”
used to achieve
agreement on a
single data value
among distributed
processes or
systems.
Contd..
Recent
Developments of
Block Chain:
1. Smart Contracts
2. Storing of
Medical Records,
E-notary, Collecting
Taxes etc.,
Recent Developments of Block Chain:
Thank You
Any
Queries?

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