Tezos Empowering Developers and Users with Self-Amending Smart Contracts.pdf
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Tezos, a blockchain platform designed for smart contracts and decentralized applications (DApps), stands out from its counterparts by offering a unique feature: self-amendment. By enabling stakeholders to govern and upgrade the network through a formalized process, Tezos empowers developers and users alike. In this blog post, we will explore how Tezos' self-amending mechanism enhances flexibility, security, and innovation within the blockchain ecosystem. Visit: https://www.mobiloitte.com/
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Impact on the IT Audit Function
Learning and Engagement
Agenda
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Blockchain technology is a digital innovation that is poised to significantly alter financial markets within the next few years, within a cryptographic ecosystem that has the potential to also significantly impact trusted computing activities and therefore cybersecurity concerns as a whole.
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*
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Have heard of bitcoins?
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Are involved in projects that involve blockchain technology implementation or related activities?
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*
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Digital signatures
Peer-to-peer network
Proof-of-work
Public history of transactions
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https://bitcoin.org/bitcoin.pdf
*
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*
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1. Learn the fundamentals of blockchain technology - how it works, key components, types of blockchains.
2. Understand cryptography basics - hashes, digital signatures, public/private key encryption.
3. Learn the Solidity programming language for writing Ethereum smart contracts.
4. Build simple smart contracts and deploy them to testnets.
5. Learn how to develop decentralized applications (dApps) using smart contracts.
6. Explore blockchain development platforms like Ethereum, Hyperledger, etc.
7. Learn frontend libraries like Web3.js for interacting with blockchains.
8.
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Identity Management
Criticism and Challenges
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Agenda
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Blockchain technology is a digital innovation that is poised to significantly alter financial markets within the next few years, within a cryptographic ecosystem that has the potential to also significantly impact trusted computing activities and therefore cybersecurity concerns as a whole.
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*
How many of you:
Have heard of bitcoins?
Own cryptocurrency?
Feel you understand the underlying blockchain technology?
Feel you can summarize for us the benefits of the “trust economy”?
Are involved in projects that involve blockchain technology implementation or related activities?
Student Exposure
*
Where It All Started
Blockchain technology was first introduced in a whitepaper entitled: “Bitcoin: A Peer-to-Peer Electronic Cash System,” by Satoshi Nakamoto in 2008.
No reliance on trust
Digital signatures
Peer-to-peer network
Proof-of-work
Public history of transactions
Honest, independent nodes control majority of CPU computing power
Nodes vote with CPU computing power
Rules and incentives enforced through consensus mechanism
https://bitcoin.org/bitcoin.pdf
*
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Bitcoin was the first digital, i.e., cryptocurrency
A maximum of 21 million Bitcoins can be generated
Just as with real world mining, energy must be invested to solve complex mathematical problems by which systems earn Bitcoins
https://www.cryptocoincharts.info/coins/info claims to be indexing 4,220 cryptocurrencies
Most circulated: Bitcoin, Ethereum, Litecoin
*
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Think of Bitcoin as an electronic asset (as well as a digital currency)
A network of computers keeps track of Bitcoin payments, and adds them to an ever-growing list of all the Bitcoin payments that have been made, called “The Bitcoin Blockchain”
The file that contains data about all the Bitcoin transactions is often called a “ledger”
Bitcoin value is created through transaction processing, referred to as “mining,” which is performed by distributed processors called “nodes” of the peer-to-peer network
A Gentle Introduction to Bitcoin by Antony Lewis, https://bravenewcoin.com/assets/Reference-Papers/A-Gentle-Introduction/A-Gentle-Introduction-To-Bitcoin-WEB.pdf
*
Mining Evolution
Mining is the process whereby value is created through transaction processing that occurs on nodes of the network.
In 2009, one could mine 200 Bitcoins with a personal, home computer. In 2015, it would take about 98 years to mine just 1 Bitcoin.
Today there is almost no money to be made through traditional home mining.
ASIC (Application Specific Integrated Circuit) has been designed strictly for mining Bitcoins.
Groups of miners have formed mining pools, with each being paid their relati ...
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