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Blockchain: Technology - You Don'T Need A Bank'S Permission To Access or Move It

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33 views7 pages

Blockchain: Technology - You Don'T Need A Bank'S Permission To Access or Move It

Uploaded by

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

Introduction
Imagine a world where you can send money directly to someone
without a bank & transaction fees it is possible only via Blockchain
Technology.You don’t need a bank’s permission to access or move it,
and never have to worry about a third party taking it away, or a
government’s economic policy manipulating it.anyone can use the
technology to run and own their own blockchains.

A blockchain is a type of database.A database structures its data into


tables whereas a blockchain, like its name implies, structures its data
into chunks (blocks) that are chained together and secured using
cryptography. This makes it so that all blockchains are databases but not
all databases are blockchains. Each block typically contain a
cryptography hash, a timestamp and a transaction data.  A hash is a
unique digital signature generated cryptography which links the two
subsequent blocks to form a chain.  

In is Based on Three Concepts,

1) Block - It is a time bound collection of data that is published into


ledger entered into the block chain  over a given period of time

2) Chain - It is a collection of blocks that are linked together referencing


hashes from the previous block.  Hash being the glue that holds the
block chain together and creates trust.

3) Network - It consists of computers that host the information entering


the block chain via transaction.  Before any permanent entry is made
into the block chain, all nodes verify the transaction. Nodes are
computers or system operating on a larger network. 

Blockchain properties
1 ) Immutable - unchangeable, meaning a transaction or file recorded
cannot be changed. It is Accurate & Secure

2) Distributed Ledger - data stored in multiple places on a computer


network.Being distributed protects the blockchain from network attacks.

Types of Blockchain:
1. Public Blockchains

Public blockchains are open, decentralized networks of computers


accessible to anyone wanting to request or validate a transaction . For
example, Bitcoin and Ethereum (ETH) . It uses proof-of-work or proof-of-
stake

2. Private Blockchains

Private blockchains are not open, centralized and they have access
restrictions.For example, Hyperledger.

3. Hybrid Blockchains or Consortiums

Consortiums are a combination of public and private blockchains and


contain centralized and decentralized features. For example, Energy
Web Foundation, Dragonchain, and R3.
4. Sidechains

A sidechain is a blockchain running parallel to the main chain. It allows


users to move digital assets between two different blockchains. For
example,Liquid Network.

Types of Blockchain Development Services,

 Public / Private Blockchain Development


 Create Your Own Blockchain
 Blockchain IoT Development
 Hyperledger Development
 P2P Lending Blockchain Platform
 Solidity Development
 Cryptocurrency Development
 Cryptocurrency Exchange Development

BlockChain Technology using Industries,

 Healthcare
 Media and entertainment
 Retail and consumer goods
 Ecommerce
 Banking and financial services
 Gaming
 Telecommunications
 Travel and transportation
 Digital Records
 Automotive
 Supply chain

Benefits of Blockchain
 Enhanced security
 Individual control of data

 Tokenization

 Immutability

 Reduced costs

 Trust

 Greater transparency
 Instant traceability
 Increased efficiency and speed
 Automation
NFT - Non-Fungible Token
NFT stands for non-fungible token. It’s generally built using the same
kind of programming as cryptocurrency, like Bitcoin or Ethereum.

An NFT is a digital asset that represents real-world objects like art,


music, in-game items and videos. They are bought and sold online,
frequently with cryptocurrency, and they are generally encoded with the
same underlying software as many cryptos.

ERC-20 : It is fungible asset


ERC-721: It was representing for non-fungible digital assets on the
Ethereum blockchain.ERC-721 provides core methods that allow tracking
the owner of a unique identifier, as well as a permissioned way for the
owner to transfer the asset to others.Supports transferring one token at
a time

ERC-1155: It was fungible or non-fungible tokens.The ERC-1155 token is


a new type of standard token within Ethereum with the ability to change
the landscape of DApps within this blockchain, thanks to its multi token
capacity and a new number of functions designed to provide a better
user experience. and programming.It is secure, tradable and immune to
hacking.Supports batch transfers of many token IDs in a single
transaction.

DEFI (Decentralized Finance)


DeFi, or decentralized finance, is a new way to execute financial
transactions through applications. It cuts out traditional financial
institutions and intermediaries and is conducted over the blockchain.
Think of it as removing brokerages, exchanges, banks and other
intermediaries from the equation.Most run on the Ethereum blockchain.
DeFi much safer and more difficult to penetrate by traditional hackers
and malicious activities.

Decentralization" refers to the lack of a central exchange. Smart


contract programs for the DeFi protocols themselves are run using open
source software by a community of developers and programmers.

DeFi Development Services,


Like example,

 DeFi Lending/Borrowing Development

 DeFi Smart Contract Development

 DeFi Dapps Development

 Decentralized Exchange Development

 DeFi Token Development

Crypto Token
 A crypto token is a virtual currency token or a denomination of a
cryptocurrency. It represents an asset or specific use and resides
on their blockchain.
 Tokens can be used for investment purposes, to store value, or to
make purchases.
 Cryptocurrencies are digital currencies used to facilitate
transactions (making and receiving payments) along the
blockchain.
 Altcoins and crypto tokens are types of cryptocurrencies with
different functions.
 Created through an initial coin offering, crypto tokens are often
used to raise funds for crowd sales.

Types of Tokens
 Security/Equity Tokens
 Reward Tokens
 Utility Tokens
 Asset Tokens
 Currency Tokens

Token Development services,


 EOS Token Development
 Tron Token Development
 Ethereum Token Development
 Binance Smart Chain BE20 Token Development

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