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Lect 3

The document discusses the fundamentals of blockchain technology, emphasizing its nature as a decentralized and distributed system. It explains the Byzantine Generals problem and its relevance to achieving consensus in blockchain networks, as well as providing definitions and key characteristics of blockchain, including its peer-to-peer structure and cryptographic security. Additionally, it outlines the components and operations of blockchain systems, along with their classification and challenges.

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Avantika Jeewani
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3 views22 pages

Lect 3

The document discusses the fundamentals of blockchain technology, emphasizing its nature as a decentralized and distributed system. It explains the Byzantine Generals problem and its relevance to achieving consensus in blockchain networks, as well as providing definitions and key characteristics of blockchain, including its peer-to-peer structure and cryptographic security. Additionally, it outlines the components and operations of blockchain systems, along with their classification and challenges.

Uploaded by

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

Dr. Javed Ahmed Shahani


Distributed System

• Und erstand ing distributed systems is essential to the


und erstand ing of blockchain technolog y

• Blockchain is a d istrib uted system at its core

• A blockchain is orig inally intend ed to b e and is usually used as


a decentralized p latform

• It can be th ought of as a system that has properties of both


d ecentralized and d istrib uted paradigms

• It is a d ecentralized - distributed system


The Byzantine Generals problem

• A g r oup of a r my g e n e r al s w h o l e a d d i ffe r en t p a r ts of th e B y z a n tin e a r my a r e


p l a n n i n g to a tta c k or r e tr e a t fr om a c i ty

• T h e on l y w a y of c ommu n i c a ti n g a mon g th e m i s v i a a me sse n g e r

• T h e y n e e d to a g r e e to str i ke a t th e sa me ti me i n or d e r to w i n

• T h e i ssu e i s th a t on e or mor e g e n e ra l s mi gh t b e tr a i tor s w h o c oul d se nd a


mi sl e a d i n g me ssa g e
• T h e r e for e, th er e i s a n e ed for a v i ab le me ch an i sm th a t a l l ow s for a g r ee me n t
a mon g th e ge n er a l s, e v e n in th e p r e sen c e of th e tr e a c h er ou s on e s so th a t th e
a tta c k c a n sti l l ta ke p l a c e a t th e sa me ti me

• T h i s pr obl e m w a s sol v ed in 1 99 9 b y C a str o an d L i skov w h o p r e sen ted th e


Pr a c ti c a l B y z a n ti n e Fa u l t Tol e r a n c e (PB F T ) a l g or i th m
Blockchain-definition

L ay m an's definitio n:

Bloc k c ha in is an ever -g r o w ing , s ec ur e, shar ed r ec or d k e ep ing sy ste m i n


whic h eac h us er of th e d ata h old s a c op y o f t he r ec or d s, wh ic h c a n on ly
b e up d ated if all p ar ties involved in a tr ansac tion ag r ee to up d ate

Technical definitio n:

Bloc k c ha in is a p eer -to -p eer, d is tr ib ut ed l ed g er t hat is


c r yp tog r ap hic a lly -s ec ur e, ap p e nd - only, i mmu tab l e ( ex tr em ely h ar d
to c hang e), and up d a teab le only v ia c on sen su s or ag r eem ent a mo ng
p eer s
Keywords in Technical Definition

Peer-to-Peer:

• This means that there is no central controller in the network,


and all participants talk to each other directly

Distributed ledger:

• It simp ly means that a led g er is spread across the network


among all peers in the network, and each peer holds a cop y of
the complete ledger
Keywords in Technical Definition

Cryptograph ic ally -s ecu re:

• It means that cr ypto gr aphy has been used to provide secur ity
ser vic es whic h make this ledger secur e against tamper ing
and misuse. T hese ser vic es include no n-r epudiation, data
integr ity, and data o r igin authentication

Append-on ly:

• T his pro perty implies that o nc e data is added to the bloc kc hain, it
is almost impo ssible to c hange that data and can be co nsider ed
pr ac tic ally immutable
Keywords in Technical Definition

Updateable via consensus:

• No central authority is in control of updating the ledger


Instead , any update made to the bloc kchain is validated
ag ainst strict criteria defined b y the blockchain p rotoc ol and
ad d ed to the b lockchain only a fter a c onsensus has been
reached among all p articip ating peers /nodes on the network
Blockchain
Layers
Blockchain Layers
Blockchain
Layers
Blockchain
Layers
Blockchain Layers
Blockchain Characteristics
Overview of Blockchain Operations
Components of Blockchain
• Asy mmetric key cryptography

• Transactions
Components
• Consensus Mechanism
of Blockchain
• Distrib uted Led g er ( Blockchain)
Transaction
Broadcast and
Verification
Consensus Mechanism
Structure of
Blockchain
Structure of Blockchain
CLASSIFICATION OF BLOCKCHAIN SYSTEMS
Challenges of Blockchain

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