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Blockchain
- 2. AGENDA: • Introduction • Difference between Traditional and Distributed System • Block • How does Blockchain work? • Types of Blockchain • Merits • Demerits • Applications • Conclusion
- 3. DIFFERENCE BETWEEN TRADITIONAL AND DISTRIBUTED SYSTEMS:
- 4. WHAT IS A BLOCKCHAIN? • A Blockchain is a decentralised and distributed digital ledger that is used to record transactions across many computers.
- 5. WHAT IS A BLOCK? • A Block is the current part of a blockchain which records all the transactions, that goes into a Blockchain as permanent database.
- 6. HOW A BLOCKCHAIN WORKS?
- 7. TYPES OF BLOCKCHAIN:- • Public • Private • Semi Private • Shared
- 8. PUBLIC BLOCKCHAIN: • These Blockchains are open to the public and any one can participate as a node in decision-making process. • Here the ledgers are not owned by anyone and are publicly open foe anyone to participate in the Blockchain.
- 9. PRIVATE BLOCKCHAIN: • It has the Impulse or Private and are open only to a consortium or a group of individuals or organistions that has decided to share the ledger among themselves.
- 10. SEMI-PRIVATE: • Here a part of the Blockchain is private and the other is public. • The private part is controlled by a group of individuals where as the public part is open for anyone to participate.
- 11. SHARED: • It is a generic term that is used to describe any application or a database that is shared by public or a consortium.
- 12. MERITS: • High quality data. • Reliability • Process integrity • Faster transactions • Lower transaction rate
- 13. DEMERITS: • Nacent Technology • Redundency • Costly • Integration concerns
- 14. APPLICATIONS:
- 15. CONCLUSION: • As mentioned above, most of these applications are still underdeveloped The future potential of the blockchain applications is still unraveling. The next couples of years will be all about experimenting and applying to all aspects of society. Regardless of which application comes first on a global scale. The bottom line is, Blockchain is here to stay and is transforming how our society functions.