Blockchain

1. OVERVIEW
 What is blockchain
 What are the uses of blockchain
 What are the advantages of blockchain
 What are the disadvantages of blockchain
 What are the applications of blockchain
 Conclusion

2. WHAT IS
BLOCKCHAIN TECHNOLOG
Y  Blockchain technology is an advanced database mechanism that allows
transparent information sharing within a business network.
 Virtually anything of value can be tracked and traded on a blockchain
network, reducing risk and cutting costs for all involved.
 There are majorly four types of Blockchain that are Public
, Private ,Hybrid and Consortium Blockchain.
 Blockchain example: Bitcoin.
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3. BLOCKCHAIN
UNDERPINS
BITCOIN It can provide secure transactions,
reduce compliance costs, and speed
up data transfer processing.
Bitcoin is the first blockchain
application.

4. USES OF BLOCKCHAIN
 OpenBazaar is a decentralized cryptocurrency marketplace that
enables its users to trade online.
 Storj :- It is a cryptocurrency blockchain platform powering a
decentralized system for digital file storage.
 Blockchain technology, such as cryptocurrencies and non-fungible
tokens (NFTs), has been used in video games for monetization.
 Blockchain is used to create smart contracts because blockchain-
based smart contracts are proposed contracts that can be partially or
or fully executed or enforced without human interaction.
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5. ADVANTAGES OF BLOCKCHAIN
Databases created using blockchain have certain advantages
such as :-
 Immutability :- Blockchain supports immutability,
meaning it is impossible to erase or replace recorded
data. Therefore, the blockchain prevents data tampering
within the network.
 Transparency :- blockchain is decentralized, meaning
network member can verify data recorded into the
blockchain. Therefore, the public can trust the network.
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6. CONTINUE...
 Censorship :- Blockchain technology is free from
censorship since it does not have control of any
single party. Therefore, no single authority
(including governments) can interrupt the
operation of the network.
 Traceability :- Blockchain creates an irreversible
audit trail, allowing easy tracing of changes on the
network.
 The traditional database is neither transparent nor
immutable; hence, no permanent trail is
guaranteed.

7. DISADVANTAGES
OF BLOCKCHAIN
Databases created using blockchain have
certain disadvantages also which are :-
 Speed and performance :- Blockchain is
considerably slower than the traditional
database because blockchain technology
carries out more operations.
 Data modification :-Blockchain
technology does not allow easy
modification of data once recorded, and it
requires rewriting the codes in all of the
blocks, which is time-consuming and
expensive.
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8. CONTINUE...
 High implementation cost. Blockchain is costlier
compared to a traditional database. Additionally,
businesses need proper planning and execution
to integrate blockchain into their process.

9. APPLICATIONS OF
BLOCKCHAIN
 Money transfers :- Money transfers using blockchain can be less
expensive and faster than using existing money transfer services.
 Insurance :- Using smart contracts on a blockchain can provide greater
transparency for customers and insurance providers. Recording all claims
on a blockchain would keep customers from making duplicate claims for
the same event.
 Secure personal information :- Blockchain technology can be used to
secure access to identifying information while improving access for those
who need it in industries such as travel, healthcare, finance,
and education.
 Voting :- using blockchain technology can make sure that nobody votes
twice, only eligible voters are able to vote, and votes cannot be tampered
with.
This Photo by Unknown author is licensed under CC BY-SA-NC.

10. CONTINUE...
 Logistics and supply chain tracking :- Blockchain technology
can be used to track items as they move through a logistics or
supply chain network can provide several advantages.
 Secure Internet of Things networks :- Blockchain technology
can provide greater security by storing passwords and other
data on a decentralized network instead of a centralized server.
Additionally, it offers protection against data tampering since a
blockchain is practically immutable.
 Data storage :- Adding blockchain technology to a data
storage solution can provide greater security and integrity.
Since data can be stored in a decentralized manner, it will be
more difficult to hack into and wipe out all the data on the
network

11. CONCLUSION
 Blockchain technology is revolutionary. It will make life simpler
and safer, changing the way personal information is stored and
how transactions for good and services are made.
 The technology will affect every industry in the world,
including manufacturing, retail, transportation, healthcare, and
real estate Companies as Google, IBM, Microsoft, American
Express, Walmart, Nestle, Chase, Intel, Hitachi, and Dole are all
working to become early adopters of blockchain.
 Blockchain can open up business networks by taking out cost,
improving efficiency and increase accessibility.
 Blockchain addresses an exciting and tropical set of business
challenges , which cross every industry.