Scribd
Upload
35 views2 pages

Blockchain Explain

Uploaded by

Dipak Nandeshwar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
35 views2 pages

Blockchain Explain

Uploaded by

Dipak Nandeshwar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

If you've been living under a rock then terms like blockchain, cryptocurrency probably sound like a

rocket science but if you're one of those people who don't live under rocks you might still have no
idea what these terms mean so prepare yourself 'cause you're about to get educated on these
terms.

Fun fact,

let's begin with blockchain 

blockchain was introduced in 2008 with the conception of Bitcoin a form of digital currency


that we'll talk about in a moment.

A short history of Bitcoin.

 The first description of Bitcoin was published in 2008.


 2009: The Bitcoin Network goes live
 2010: Stock exchange for trading Bitcoin is launched.
 2011: One Bitcoin equals one USD and continued to rise further

#Slide 4: Bitcoin is not Blockchain


 Bitcoin is a currency and application of blockchain technology
 Blockchain is the underlying data structure.

 What is a blockchain?

 A blockchain is a datastructure, which is a growing list of data blocks.


 The data blocks are linked together, such that old blocks cannot be removed or
altered.

#Slide 7: Bitcoin Ecosystem Part 2


 The Bitcoin ecosystem is self-stabilizing. The more participants there are, the greater
the demand for Bitcoins. This results in a price increase, which in turn attracts new
participants.

#Slide 8: Cutting the Middleman


 Blockchain technology makes middlemen obsolete in many applications. Banks are
not involved in the transaction process.
#Slide 11: Key Features

A public blockchain has some characteristic features:

 Write-only
 Decentralized
 Open to everyone.

#Challenges

Although Blockchain technology has a strong disruptive power and can change many
areas of our daily lives, there are still some challenges that need to be addressed.

 The high energy consumption for mining.


 It opens up possibilities for money laundering.

You might also like