Arvind singh devra
topics
[Link] is blockchain ?
[Link] of blockchain
[Link] of blockchain
[Link] of blockchain.
[Link] in blockchain
[Link] of blockchain
[Link] vs. blockchain
[Link] and disadvantage of blockchain
[Link]
What is blockchain
A blockchain is a ledger that is shared among
the nodes of a computer [Link]
are best known for maintaining a secure and
decentralized record of [Link]
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
[Link] Distributed ledger [Link]
.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
[Link] of work(pow) [Link]
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
[Link] blockchain
[Link] blockchain
[Link] blockchain
[Link] blockchain
[Link] blockchain:these blockchain are completely open to following the idea of
[Link] don’t have any restriction,anyone having a computer and internet can
participate in the network.
[Link] 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.
[Link] blockchain:it is a creative approach that solves the needs of the organization .this
blockchain validates the transaction and also initiates or receives [Link] is also known as federated
blockchain.
[Link] 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
[Link] 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 [Link]
With the launch of of bitcoin in january 2009,blockchain had its first real -
world application .the bitcoin protocol is built on [Link] 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
[Link]:one of the major advantages of blockchain technology is that it is accessible to all means
anyone can become a participant in blockchain.
[Link]:blockchain technology is used to store information in a decentralized manner so
everyone can verify the correctness of the information by using zero knowledge.
[Link]:records in blockchain is permanent means one needs not worry about losing the
data.
[Link]:blockchain uses hashing techniques to store each transaction on a block that is
connected to each other so it has tighter security.
[Link]:blockchain removes any third party intervention between transaction and removes
the mistake making the system efficient and faster.
[Link] 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
[Link]: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.
[Link] 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 .
[Link] 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.
[Link] formalities:in some countries ,the use of blockchain technology application is
banned like cryptocurrency due to some environmental issues.
[Link]: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 [Link],the world has
found application of blockchain in several industries,where the trust without the
involvement of a centralized authority is [Link] 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
.