What is Blockchain?
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This document discusses Bitcoin and blockchain technology. It begins with guessing the topic and asking what Bitcoin is and why we need it. It then covers the science behind Bitcoin and asks what blockchain is, describing it as a database, decentralized, public or private, a new internet, and modern monetary system. The document goes on to explain how blockchain works and lists applications. It provides some basic statistics on Bitcoin's market capitalization and circulating supply. It concludes by asking if there are any questions.
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MONEY ,BITCOIN,BLOCKCHAIN TECHNOLOGY
bitcoin
cryptocurrency
There are two main ways the block chain ledger can be corrupted to steal
bitcoins: by fraudulently adding to or modifying it. The bitcoin system protects
the blockchain against both using a combination of digital
signatures and cryptographic hashes.
hashsalim@gmail.com
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Bitcoin, often described as a cryptocurrency, a virtual currency or a digital currency - is a type of money that is completely virtual. It's like an online version of cash. You can use it to buy products and services, but not many shops accept Bitcoin yet and some countries have banned it altogether.
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This document provides an overview of blockchain technology, cryptocurrencies like Bitcoin, and related concepts. It defines blockchain as a decentralized and trustless ledger maintained on many computers that records transactions in an immutable way. Cryptocurrencies use encryption techniques to prevent double spending and operate without central authorities. The document discusses how Bitcoin began and how blockchain works through hashing and mining. It also covers the basic purposes of blockchain in confirming transactions and adding blocks, and examines debates around the value, security, and potential impacts of blockchain and cryptocurrencies. Specific applications like MakerDao for lending and borrowing cryptocurrencies, and blockchain-based social media platforms, are also summarized.
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MONEY ,BITCOIN,BLOCKCHAIN TECHNOLOGY
bitcoin
cryptocurrency
There are two main ways the block chain ledger can be corrupted to steal
bitcoins: by fraudulently adding to or modifying it. The bitcoin system protects
the blockchain against both using a combination of digital
signatures and cryptographic hashes.
hashsalim@gmail.com
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Bitcoin : 1ChyUCv7Qqz5fqfb4QhUsYYGmeMfz99vr7
Bitcoin Cash : 18AH4EyLo7djvfKHuRxjVh1cWPJH93ppAx
Ethereum : 0x449fFDBBcD2328662B67Ba3103ce83834d140bf7
Litecoin: 32XW2vssbd2V2tY1MbsRdRoz4UAUw2G4j6
Dogecoin : A8zoTQk9RauhRDbvEQF1bhB5h7dFtVnveX
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http://www.sunstone.eu
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Bitcoin : 1ChyUCv7Qqz5fqfb4QhUsYYGmeMfz99vr7
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Well the terms like bitcoin & block chain are being coined and referred to everywhere over the internet or over any investment or financial platform the reason being its increasing popularity and the mammoth returns that people have made by investing in these avenues.
Although the concept of bitcoin is known to many but still there are many that are confronted with this question that what is a bitcoin and how does it work? so, in this blog I have made a sincere effort to explain the same in the easiest of manner for you to understand this concept. So as we move ahead we will dive in this concept of What is Bitcoin? How is it related to White paper of Satoshi Nakamoto? to understand the basics of bitcoins and how would its future be like.
The term crypto currency is being coined everywhere due to its increased popularity worldwide, it is being looked at with great aspiration to park one’s money for a lucrative and manifold return. One can well imagine the return percentage on his/her investment in bitcoins by the fact that 1 bitcoin was worth $0 in 2009 and it now values at $55,353 (at the time of writing this article).
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These digital assets are stored in computerized databases as they do not exist in physical form, using strong cryptography to secure the transaction records.
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Although there are several other Cryptocurrencies that exist in the digital world and they too have offered good returns over a period of time, but the major issue involved in these digital currencies is that they are not backed by any of the apex bank of any country nor do they are traded in any banking channel.
Usually these digital currencies or cryptocurrencies that are not backed by any government or banking channel have no intrinsic value and nor do they will have in future.
Their values are derived purely on the basis of market forces of demand and supply and are a private fiat money. The market of these digital assets is highly volatile and have no capping on their price increase or decrease.
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Plenary Talk at ICEIC 2019
Pullman Auckland Hotel, Auckland, New Zealand
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http://iceic.org/2019/
Abstract
In the year 2018, we have witnessed the surge and the fall of crypto-currencies. With the surge, blockchain the new technology behind cryptocurrencies, and its idealistic footprint of advanced thoughts, blockchainism it can be perhaps called, came to enthrall our minds. Thousands of new ambitious projects have been conceived and fast activated with the worldwide frenzy of new funding through initial coin offerings a novel funding mechanism in the blockchain world. Decentralized societies, equal accesses to valuable resources, reducing the cost of middleman, freed individuals from hierarchical organizations, and reducing the spread in inequalities are some of those advanced thoughts. But the fall came; the market value for Bitcoin has collapsed more than 7 times from its peak-value; that of Ethereum has plummeted more than 12 times. These two power houses which have supported those progressive projects are now torn apart. Recent New York Times report reads, “Blockchain: What’s it good for? Absolutely nothing, report finds.” Another one reads, The Blockchain Is a Reminder of the Internet’s Failure. The same utopian promises that bloomed during the Internet’s early days are back. Be afraid.“ Should this be the end of our pursue to change and make a better world with blockchains? Obviously not. In this presentation, I would like to talk about the reality of blockchain technology and how distant it is from the ideals. With this accessment, I would like to present some of novel research progresses we made in year 2018 and talk about further research ideas to pursue in year 2019.
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What is Blockchain?
- 1. Click to edit Master title style 1 Guess the topic
- 2. Click to edit Master title style 2 By the way, what is Bitcoin ? 2
- 3. Click to edit Master title style 3 Why do we really need Bitcoin? 3
- 4. Click to edit Master title style 4 The science behind Bitcoin 4
- 5. Click to edit Master title style 5 So,What the damn is Blockchain 5 Is it a database or ledger ? Is it decentralized or distributed? Is it public or private? Is it a new kind of internet? Is it a modern monetary system? Is it only used in Crypto? Is this the Future? Is it a new age asset class?
- 6. Click to edit Master title style 6 How blockchain works ? 6
- 7. Click to edit Master title style 7 Blockchain – Applications : 7
- 8. Click to edit Master title style 8 Some Basic Stats … Market Capitalization (Bitcoin) ~ 1Tn $ 8
- 9. Click to edit Master title style 9 Circulating Supply (Bitcoin) 9 Current supply: ~ 18.5 Mn Max Supply: 21 Mn
- 10. Click to edit Master title style 10 Blockchain Market Size: (in Bn) 10
- 11. Click to edit Master title style 1111 Finally, What is this ?
- 12. Click to edit Master title style 12
- 13. Click to edit Master title style 13 Any Questions ?