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Blockchain PPT

This document provides an overview of blockchain technology. It discusses the history of blockchain, beginning with early work in the 1990s and the introduction of blockchain by Satoshi Nakamoto in 2008. It also describes the key components of blockchain including blocks, nodes, transactions, and consensus algorithms. Specific consensus algorithms covered include proof-of-work, proof-of-stake, and Byzantine fault tolerance. The document concludes by discussing some applications and advantages of blockchain, such as increased security and transparency, as well as some challenges like complexity and resource needs.

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Jayendra Ankur
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7K views15 pages

Blockchain PPT

This document provides an overview of blockchain technology. It discusses the history of blockchain, beginning with early work in the 1990s and the introduction of blockchain by Satoshi Nakamoto in 2008. It also describes the key components of blockchain including blocks, nodes, transactions, and consensus algorithms. Specific consensus algorithms covered include proof-of-work, proof-of-stake, and Byzantine fault tolerance. The document concludes by discussing some applications and advantages of blockchain, such as increased security and transparency, as well as some challenges like complexity and resource needs.

Uploaded by

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

Name : Jayendra Ankur


Class roll : 09
Exam roll : 17PGMCA03494
Content
• Introduction
• History
• Types of Blockchain
• Architecture
• Working of Blockchain
• Types of Concensus Algorithms
• What is PoW Algorithm and How it works
• Applications of Blockchain
• Advantages and Disadvantages
• Conclusion
Introduction
A blockchain is a growing list of records, called blocks, that are
linked using cryptography. Each block contains a cryptographic
hash of the previous block, a timestamp, and transaction data.
History Of Blockchain
• The first work on a cryptographically secured chain of blocks was
described in 1991 by Stuart Haber and W. Scott Stornetta
• In 1992, Bayer, Haber and Stornetta incorporated Merkle trees to
the design, which improved its efficiency by allowing several
document certificates to be collected into one block.
• The first blockchain was conceptualized by a person (or group of
people) known as Satoshi Nakamoto in 2008.
• In August 2014, the bitcoin blockchain file size, containing records
of all transactions that have occurred on the network, reached
20 GB (gigabytes).
• In January 2015, the size had grown to almost 30 GB, and from
January 2016 to January 2017, the bitcoin blockchain grew from
50 GB to 100 GB in size.
Types of Blockchain
• Public BlockChain
• Consortium Blockchain
• Private Blockchain
• Hybrid Blockchain
Architecture of Blockchain
• Node — user or computer within the blockchain
• Transaction — smallest building block of a blockchain
system
• Block — a data structure used for keeping a set of
transactions which is distributed to all nodes in the
network
• Chain — a sequence of blocks in a specific order
• Miners — specific nodes which perform the block
verification process
• Consensus— a set of rules and arrangements to carry
out blockchain operations
The inside of a Block
Working of Blockchain
Types of Consensus
Algorithms
• Proof-of-Work (PoW) used by BitCoins
• Proof-of-Stack (PoS) used by Ethereum
• Delegated Proof-of-Stack
• Byzantine Fault Tolerance (BFT)
• Practical Byzantine Fault Tolerance (PBFT)
• SIEVE
• Proof-of-Burn (PoB) and a few more
What is PoW Algorithm?
Proof-of-Work algorithm is used to confirm transactions and
produce new blocks to the chain. Here miners compete against
each otherto complete transactions on the network and get
rewarded.
Working Of PoW
Miners solve the Puzzle, form the new Block and Confirm
the Transaction in the following way
Applications Of Blockchain
Advantages Disadvantages

• Decentralized system • Complexity


• Transparent • Size of Blockchain
• Secure • Need more resources
• Faster and cost effective • Human errors
• Store timeline data
• No downtown
• User empower
Conclusion

Blockchain is a new name in the world of technologies but it is


definitely the one to last. Even in the early stages, the
technology has gained huge popularity starting with their very
first application of cryptocurrencies. More areas of
applications are being discovered and tested with each
passing day. Once the technology is adopted and accepted on
a global level, it’ll transform the way we live today.

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