.

BBSCET, Prayagraj (211013))

Seminar Presentation
(RCS851)
On
BLOCKCHAIN TECHNOLOGY
BY:
SAKSHI MISHRA (1713810017)
CSE 4th year
Content
• What is blockchain?
• History of blockchain
• Blockchain Vs Database
• Structure of blockchain
• How Blockchain Works
• What is distributed ledger?
• Properties of DLT
• Blockchain Hashing
• Types of blockchain
• Application of blockchain
• Disadvantage of blockchain
• What is Cryptocurrency?
• Bitcoin
• How does bitcoin work?
• How secure is bitcoin?
• Conclusion
What is Blockchain?
 A blockchain is a growing list of records, called blocks, that are
linked together using cryptography.

 Each block contains a cryptographic hash of the previous block,

a timestamp, and transaction data.

 The timestamp proves that the transaction data existed when the block
was published in order to get into its hash.

 As blocks each contain information about the block previous to it, they
form a chain, with each additional block reinforcing the ones before it.

 Blockchains are typically managed by a peer-to-peer network for use as

a publicly distributed ledger, where nodes collectively adhere to
a protocol to communicate and validate new blocks.
 History Of Blockchain

Origin Transaction Contract Proof of Application

s work s

2011- 2012- 2017-

1990s 2009 2012 2013 2018

The concept of Nakamoto The deployment of Currency transfer The blockchain

distributed developed bitcoin cryptocurrency in and digital payments emerged in various
computing started to and introduced the practical application applications with
appear since 1990. notion of blockchain related to cash. further
to use decentralized developments.
and distributed
ledger.
 Blockchain Vs
Database
 The database is centralized
 Blockchain is
. because it has admins
decentralized and in-charge.
because there is no
admin or in-charge.
01

Blockchain  Blockchains are slow.

 Databases are fast.
02
Vs  It has a history of
records and ownership
.  It has no history of
records and

Database 03 ownership of records.

of digital records.

 Blockchain is fully  The database is not

confidential. fully confidential.
04
.
 Blockchain has only  The database has
Insert operation. 05 Create, Read, Update,
and Delete operation.

 It is a fully robust  It is not entirely

technology. 06
robust technology.
Structure
of Blocks
01
Blockchain
Block hold batches of valid transactions that are hashed and encoded into a Merkle tree.
Each block includes the cryptographic hash of the prior block in the blockchain, linking the
two. The linked blocks form a chain. This iterative process confirms the integrity of the
previous block, all the way back to the initial block, which is known as the genesis block.

02 Decentralization
By storing data across its peer-to-peer network, the blockchain eliminates a
number of risks that come with data being held centrally.

Openess
03 Open blockchains are more user-friendly than some traditional ownership records,
which, while open to the public, still require physical access to view.

Standardisation
04  Blockchain technologies show much potential as it provide capabilities that cannot
normally be met in any other way if the requirement of interoperability between
blockchains and with other technologies is met.
 How Blockchain Works

Requesting a
transaction Verification

Validation

A block is created
Transaction is completed The block joins the chains
Distributed Ledger
 A distributed ledger(also called a shared
ledger or distributed ledger technology or DLT) is a
consensus of replicated, shared, and synchronized
digital data geographically spread across multiple sites,
countries, or institutions. Unlike with a centralized
database, there is no central administrator.

. A peer-to-peer network is required as well

as consensus algorithms to ensure replication across
nodes is undertaken. One form of distributed ledger
design is the blockchain system, which can be either
public or private.
.
Properties of Distributed Ledger Technology
Programmable
A blockchain is programmable
(i.e. smart contracts).
Distributed
All network participants have a copy of the ledger
Secure for complete transparency..
All records are individually encrypted.

Distributed Ledger

Anonymous Immutable
The identity of participants is either anonymous or Any validated records are irriversible and cannot be
pseudonymous. changed.

Time-Stamped
A transaction timestamp is recorded in a block.
Blockchain Hashing
 Hashing in blockchain refers to the process of having
an input item of whatever length reflecting an output
item of a fixed length. 

 The process of using a given hash function to process

a transaction is called hashing.

 The transactional output of that given hash function is

what we call a hash.
 Types of Blockchain

Public blockchains Private blockchains Hybrid blockchains Sidechains

01 02 03 04
A public blockchain A private blockchain A hybrid blockchain has a A sidechain is a
has absolutely no
access restrictions. is permissioned. combination of centralized designation for a blockchain
and decentralized features. ledger that runs in
Anyone with an Internet  One cannot join it The exact workings parallel to a primary
connectioncan send unless invited by of the chain can vary blockchain.
 transactions to it as well the network administrators. based on which portions Entries from the primary
as become a validator. Participant and validator of centralization decentralization blockchain can be linked to
Example- Bitcoin and ethereum   access is restricted. are used. and from the sidechain.
blockchain  DLT is used for private
blockchains.
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 What is Cryptocurrency?

 A cryptocurrency is a form of digital asset based on a network that is distributed across

a large number of computers.
 This decentralized structure allows them to exist outside the control of governments
and central authorities.
 The word “cryptocurrency” is derived from the encryption techniques which are used
to secure the network.
 Blockchains, which are organizational methods for ensuring the integrity of transactional data,
are an essential component of many cryptocurrencies.
 Many experts believe that blockchain and related technology will disrupt many industries,
including finance and law. 
 Cryptocurrencies face criticism for a number of reasons, including their use for illegal activities,
exchange rate volatility, and vulnerabilities of the infrastructure underlying them.
 However, they also have been praised for their portability, divisibility, inflation resistance,
and transparency.
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 Bitcoin is a digital currency, a decentralized system
which records transactions in a distributed ledger called
a blockchain.
 Bitcoin miners run complex computer rigs to solve
complicated puzzles in an effort to confirm groups of
transactions called blocks; upon success, these blocks
are added to the blockchain record and the miners are
PowerPoint
rewarded with a small number of bitcoins.
Presentation
 Other participants in the Bitcoin market can buy or sell
tokens through cryptocurrency exchanges or peer-to-
peer.
 The Bitcoin ledger is protected against fraud via a
trustless system; Bitcoin exchanges also work to
defend themselves against potential theft, but high-
profile thefts have occurred.
 How does
Bitcoin work?

 To get started with Bitcoin you would first need to download a Bitcoin
‘wallet’ to your desktop or mobile device. The wallet is used to both
store Bitcoin securely and to make transactions.
 Your wallet generates ‘public keys’ of 34 letters and numbers (think of
this as an email address) that can be shared with anyone you want to
make a transaction with. Addresses should only be used once.
 When making a transaction, two wallets will connect with each other
via the ‘public key’ and then the transaction is signed off by the ‘private
key’ (think of this as a PIN or password) which is stored in the wallet
releasing the funds.
 Once a transaction has been made, it’s broadcast to the Blockchain
network for recording. This is the ‘mining’ process that involves
validating the transaction and recording it into a block.
 Once the transaction is verified and recorded across the network, it
cannot be changed and becomes a permanent record.
 How secure is Bitcoin?

 The blockchain that supports Bitcoin by recording

transactions is inherently secure through its use of a
decentralised network, as there is no single point of
failure that can be exploited.
 Storage of cryptocurrency and Bitcoin is where any
weakness can lie because the digital data you hold
cannot be replicated – if it’s lost or stolen it cannot be
replaced. Therefore, using secure, trusted storage
methods and backups are essential.
 Due to the increasing value of cryptocurrency, it is also
a target for hackers but hacks can only be made on
exchanges or on personal storage devices and not on
the Bitcoin Blockchain itself.
 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. Blockchain technology creates a permanent and
immutable record of every transaction. This impenetrable
digital ledger makes fraud, hacking, data theft, and
information loss impossible. 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. Nearly $400 trillion
across various industries is set to be transformed by
blockchain.
THANK YOU
BLOCKCHAIN TECHNOLOGY