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Session 1 ExcelR

blockchain

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Adarsh Goud
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7 views

Session 1 ExcelR

blockchain

Uploaded by

Adarsh Goud
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Agenda

01 02 03 04
Current
flaws in Understand
traditional Advantages ing
database What is of Blockchain
system blockchain? blockchain in real life
Current Flaws

Blockchain a saviour
Current problems where blockchain can make things better

Banking and Finance


Insurance sector
Smarter supply chains
Medical sector grows efficient
Internet Privacy
What is
Blockchain?
Blockchain is a cloud storage technology where the
information is stored in distributed ledger technology or
often referred to as DLT which is further connected in
peer to peer or P2P environment called nodding.
Every blockchain needs nodes which run the software of
that blockchain 24x7 for transaction verifications. They
also need a consensus protocol to run on and the most
important thing is the smart contract of that blockchain.
Types of
blockchain
Public
Private
Consortium
Advantages of Blockchain

Decentralization
Much faster
Transparent and discreet
Reduced costs (No more middlemen)
Enhanced security
Immutability
Block hashing
Public blockchain ledgers are primarily managed autonomously and are used in
peer-to-peer
networks to exchange data between connected groups of parties. As is the nature
of blockchain,
there’s no need for an administrator. The users work together as a collective
administrator. Another
form of blockchain, generally known as a permissioned or “private” blockchain,
allows an organization to both create and administer transactional networks that
can be used with partners, either internally or from one company to another.
Every blockchain transaction goes through the same steps regardless of whether
it’s used for financial transactions or product tracking. The basic principle of the
operation of any blockchain can be broken into four distinct, contiguous steps:

1. A record is made of each transaction. This record, which contains certain details
of the people making the transaction, is authenticated using the digital signature
of each.
2. Each transaction is verified to ensure its validity. This verification process is
completed by the computers connected to the network, each of which
independently checks to ensure that the trade is legitimate. Because this is a
decentralized process, it means that every node in the network needs to agree
before the process can be completed.
3. Once verified, each transaction is added to a block that gets hashed. “Blocks”
are basically groups of transaction records, and each one is unique. Each block
also carries a code known as a hash value (or hash digest), which both uniquely
identifies it and calls out its position within the blockchain. The hash also ensures
the integrity of the data to show that it hasn’t been modified since it was recorded
in the block.
4. Once complete, the block is added to the end of the blockchain. This brings us to
the end of the blockchain creation and verification process. Once one block is
complete, another block will soon follow — typically within just a matter of
minutes.
Crypto Jargons
Coin vs token
CEX vs DEX
Wallets
Web 2.0 vs web 3.0
coinmarketcap.com
Different kinds of crypto
Calculating price of a coin or token (formula)
Smart contracts
DeFi
DAO
Consensus protocol- Underlying the decentralized promise of blockchain
technologies are consensus protocols. These protocols create a system of
agreement, or rules, for a blockchain.
Thank you

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