BChain
BChain
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Definition: Blockchain is a decentralized, distributed digital ledger technology that securely records
transactions across multiple computers.
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Explanation: A blockchain consists of a chain of blocks that are linked together using cryptographic
techniques.
Blockchain as a Ledger: A digital ledger that records every transaction in a permanent and unalterable
manner.
Reference: Tapscott, D., & Tapscott, A. (2016). Blockchain Revolution: How the Technology Behind
Bitcoin and Other Cryptocurrencies is Changing the World.
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Reference: Mougayar, W. (2016). The Business Blockchain: Promise, Practice, and the 100-Year Quest to
Reinvent Money.
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Block Components:
Linking of Blocks: Each block has a hash pointer to the previous block.
Steps in Blockchain:
1. Transaction request
2. Verification of transaction
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Proof of Work (PoW): Miners solve complex problems to validate transactions (used by Bitcoin).
Proof of Stake (PoS): Validators are chosen based on the number of coins they hold and are willing to
"stake".
Delegated Proof of Stake (DPoS): A variation of PoS where stakeholders vote for delegates to validate
transactions.
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Private Blockchain: Restricted to specific participants, used by enterprises for internal purposes.
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Smart Contracts: Automatically execute agreements when conditions are met (e.g., Ethereum).
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Slide 10: Blockchain in Finance
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Reference: Agbo, C. C., et al. (2019). Blockchain Technology in Healthcare: A Systematic Review.
Healthcare, 7(2), 56.
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Tracking and Transparency: Every step in the supply chain is recorded on the blockchain.
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Transparency and Security: Blockchain can enhance electoral transparency and ensure secure voting.
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Self-Sovereign Identity: Users control their personal data without relying on centralized authorities.
Decentralized Identity Systems: Users store and manage their identity information securely.
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Copyright Management: Blockchain helps secure intellectual property rights and simplifies royalty
management.
Proof of Ownership: Blockchain verifies the authenticity and ownership of digital works.
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Smart Contracts for Real Estate: Automating legal agreements for property sales.
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Slide 19: Future of Blockchain
Integration with AI and IoT: Blockchain as a foundation for secure and decentralized IoT networks.
Cross-Industry Adoption: Potential for blockchain in healthcare, finance, government, and more.
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Future Impact: Blockchain's potential to disrupt traditional business models and pave the way for
decentralized applications.
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Slide 21: References
2. Tapscott, D., & Tapscott, A. (2016). Blockchain Revolution: How the Technology Behind Bitcoin and
Other Cryptocurrencies is Changing the World.
3. Mougayar, W. (2016). The Business Blockchain: Promise, Practice, and the 100-Year Quest to Reinvent
Money.
5. Agbo, C. C., et al. (2019). Blockchain Technology in Healthcare: A Systematic Review. Healthcare, 7(2),
56.
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This expanded structure provides a deeper dive into blockchain technology, exploring its applications,
benefits, challenges, and future trends, with references included. Let me know if you'd like further
adjustments or clarifications!