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Block Chai in

The document provides an overview of blockchain technology. It defines blockchain as a shared digital ledger maintained by a network of computers to record transactions in a verifiable way without a central authority. The document then covers the history of blockchain from its origins in distributed computing in the 1990s to the creation of Bitcoin in 2009. It discusses key fundamentals like public distributed ledgers, encryption, proof-of-work, and mining. It also outlines different types of blockchains and applications of the technology before discussing advantages like security, efficiency and cost reduction, and disadvantages like scalability issues.

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Krishna Soni
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36 views17 pages

Block Chai in

The document provides an overview of blockchain technology. It defines blockchain as a shared digital ledger maintained by a network of computers to record transactions in a verifiable way without a central authority. The document then covers the history of blockchain from its origins in distributed computing in the 1990s to the creation of Bitcoin in 2009. It discusses key fundamentals like public distributed ledgers, encryption, proof-of-work, and mining. It also outlines different types of blockchains and applications of the technology before discussing advantages like security, efficiency and cost reduction, and disadvantages like scalability issues.

Uploaded by

Krishna Soni
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Arvind singh devra

topics
1.what is blockchain ?
2.history of blockchain
3.fundamentals of blockchain
4.types of blockchain.
5.decentralization in blockchain
6.application of blockchain
7.bitcoin vs. blockchain
8.advantage and disadvantage of blockchain
9.conclusion
What is blockchain

A blockchain is a ledger that is shared among


the nodes of a computer network.blockchain
are best known for maintaining a secure and
decentralized record of transactions.the
innovation with a blockchain is that it
guarantees the fidelity and security of a record
of data and generates trust without the need
for a trusted third party.
History of blockchain
2014-2015

1990 2009 THE DEPLOYMENT OF SMART CONTRACTS


CRYPTOCURRENCY IN
IN IN IN IN IN
`
2011-2012
SATOSHI 2012-2013 CURRENCY
NAKAMOTO TRANSFER AMD DIGITAL
CREATED BITCOIN PAYMENT SYSTEM
AND INTRODUCED
THE CONCEPT OF
THE CONCEPT OF A BLOCKCHAIN
DISTRIBUTED
COMPUTING WAS
AOUND 1990
Fundamental of blockchain

1.PUBLIC Distributed ledger 2.Encryption

.A blockchain is a decentralized public .Blockchain eliminate unauthorized access by


distributed ledger that is used to record using the cryptographic algorithm to ensure the
blocks are kept safe.
transaction across many computer.
.Each user in the blockchain has their key.
.A distributed ledger is a database that is
shared among the users of the blockchain
network
3.proof of work(pow) 4.Mining
Proof of work is a method to validate transaction
In blockchain ,when miners use their resource
in a blockchain network by solving a complex (time,money,electricity etc.)to validate a new
mathematical puzzle called mining. transaction and record them on the public
ledger,they are given a reward.
NOTE:users trying to solve the puzzle are called
miners. NOTE: as a reward ,the miner gets 12.5BTC(bitcoin)
Types of blockchain

1.public blockchain
2.private blockchain
3.consortium blockchain
4.hybrid blockchain
1.public blockchain:these blockchain are completely open to following the idea of
decentralization.they don’t have any restriction,anyone having a computer and internet can
participate in the network.

2.private blockchain:these blockchain are not as decentralized as the public blockchain only
selecting nodes can participate in the process ,making it more secure than the other.

3.consortium blockchain:it is a creative approach that solves the needs of the organization .this
blockchain validates the transaction and also initiates or receives transaction.it is also known as federated
blockchain.

4.hybrid blockchain:it is the mixed content of the private and public blockchain ,where some
part is controlled by some part is controlled by some organization and other makes are made visible
as a public blockchain.
Decentralization in blockchain

In the blockchain ,decentralization alludes to the


transfer of supervision and decision making from a
centralized association(individual,corporation,or
group of people )to dispersed
network.decentralization network endeavor to
decrease the degree of trust that member should
put in each other and dissuade their capacity to put
forth authority over each other in manner that
corrupt the potency of the network
Application of blockchain
Bitcoin vs.blockchain

With the launch of of bitcoin in january 2009,blockchain had its first real -
world application .the bitcoin protocol is built on blockchain.in a research
paper introducing the digital currency ,bitcoin’s pseudonymous creator
,satoshi nakamoto ,referred to it as “a new electronic cash system that’s
fully peer-to-peer,with no trusted third party”.
Advantages of blockchain

1.open:one of the major advantages of blockchain technology is that it is accessible to all means
anyone can become a participant in blockchain.

2.verification:blockchain technology is used to store information in a decentralized manner so


everyone can verify the correctness of the information by using zero knowledge.

3.permanent:records in blockchain is permanent means one needs not worry about losing the
data.

4.security:blockchain uses hashing techniques to store each transaction on a block that is


connected to each other so it has tighter security.
5.efficiency:blockchain removes any third party intervention between transaction and removes
the mistake making the system efficient and faster.

6.cost reduction:as blockchain needs no third man itv reduces the cost for the business and
gives the trust to the other partner.
Disadvantage of blockchain

1.scalability:it is one of the biggest drawback of blockchain as it cannot be scaled due to


the fixed size of the block for storing information.

2.energy consuming:for verifying any transaction a lot of energy is used so it becomes a


problem according to the survey it is considered that 0.3 percent of the world’s electricity had
been used by 2018 in the verification of transaction done using blockchain .

3.time consuming:to add the next block in the chain miners need to compute nonce
values many time so this is a time consuming process and needs to be used for industrial
purpose.
4.legal formalities:in some countries ,the use of blockchain technology application is
banned like cryptocurrency due to some environmental issues.

5.storage:blockchain database are stored on all the nodes of the network creates an issue
with the storage,increasing number of transaction will require more storage.
conclusion

The bitcoin is the first successful implementation of blockchain.today,the world has


found application of blockchain in several industries,where the trust without the
involvement of a centralized authority is desired.so welcome to the world of blockchain.
Blockchain technology is only going to grow in the field of business,finance,law,medicine
and real estate. Whether you’re an experienced blockchain developer,or you’re aspiring
to break into this exciting industry,enrolling in our blockchain certification training
program will help individual with all levels of experience to learn blockchain developer
techniques and strategies.
THANK YOU
.

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