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    Crypto Preseentation

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    khalishureih
    Blockchain is a distributed ledger of chained blocks containing information. It was originally created to timestamp digital documents to prevent tampering. Blockchains use peer-to-peer networks where each node holds a copy of the full blockchain. Smart contracts are programs stored on the blockchain that automatically execute transactions if certain conditions are met. Ethereum supports smart contracts through programming languages like Solidity. Common smart contract standards include ERC-20 for fungible tokens, ERC-721 for non-fungible tokens, and ERC-1155 for mixed fungible and non-fungible tokens.

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    Crypto Preseentation

    Uploaded by

    khalishureih
    23 views6 pages
    Blockchain is a distributed ledger of chained blocks containing information. It was originally created to timestamp digital documents to prevent tampering. Blockchains use peer-to-peer networks where each node holds a copy of the full blockchain. Smart contracts are programs stored on the blockchain that automatically execute transactions if certain conditions are met. Ethereum supports smart contracts through programming languages like Solidity. Common smart contract standards include ERC-20 for fungible tokens, ERC-721 for non-fungible tokens, and ERC-1155 for mixed fungible and non-fungible tokens.

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    Blockchain is a distributed ledger of chained blocks containing information. It was originally created to timestamp digital documents to prevent tampering. Blockchains use peer-to-peer networks where each node holds a copy of the full blockchain. Smart contracts are programs stored on the blockchain that automatically execute transactions if certain conditions are met. Ethereum supports smart contracts through programming languages like Solidity. Common smart contract standards include ERC-20 for fungible tokens, ERC-721 for non-fungible tokens, and ERC-1155 for mixed fungible and non-fungible tokens.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    23 views6 pages

    Crypto Preseentation

    Uploaded by

    khalishureih
    Blockchain is a distributed ledger of chained blocks containing information. It was originally created to timestamp digital documents to prevent tampering. Blockchains use peer-to-peer networks where each node holds a copy of the full blockchain. Smart contracts are programs stored on the blockchain that automatically execute transactions if certain conditions are met. Ethereum supports smart contracts through programming languages like Solidity. Common smart contract standards include ERC-20 for fungible tokens, ERC-721 for non-fungible tokens, and ERC-1155 for mixed fungible and non-fungible tokens.

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    © All Rights Reserved
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    Download as pptx, pdf, or txt
    of 6

    INTRODUCTORY TO

    BLOCKCHAIN TECHNOLOGY
    & SMART CONTRACTS
    BY: KHALID SHUREIH
    BLOCKCHAIN OVERVIEW

    • BLOCKCHAIN IS A CHAIN OF BLOCKS THAT CONTAIN INFORMATION


    • THIS TECHNIQUE WAS ORIGINALLY DESCRIBED IN 1991 BY A GROUP OF RESEARCHERS
    • BLOCKCHAIN TECHNOLOGY WAS CREATED ORIGINALLY TO “TIMESTAMP” DIGITAL DOCUMENTS,
    STOPPING TAMPERING OR BACKDATING
    • POPULARITY ROSE WHEN A DIGITAL CRYPTOCURRENCY NAMED “BITCOIN” WAS CREATED USING
    DIGITALLY CHAINED TIMESTAMPS (AKA THE BLOCKCHAIN).
    • A BLOCKCHAIN IS A DISTRIBUTED LEDGER THAT IS COMPLETELY OPEN FOR ANYONE TO VIEW
    (PUBLICLY)
    • LEDGERS ARE RECORD-KEEPING SYSTEMS, LIKE A DATA BASE THAT TRACKS TRANSACTIONS

    Side Note: All coins/tokens use ERC20 Smart Contracts


    WHAT ARE BLOCKS MADE
    OF?
    DATA: The data stored inside a block depends on the type of blockchain.

    HASH OF BLOCK: Hashes are used to identify a block and all of its contents and is always unique to that block.
    - Uses complex mathematical equations that can only be done by computers.
    - Hashes can be seen as unique fingerprints.
    - Hash example: e2c521bc53bb5db4fc0aa497da5d4c8444db3

    PREVIOUS HASH OF BLOCK

    First block = Genesis Block


    DISTRIBUTED
    BLOCKCHAIN

    Blockchain eliminates the need for a central entity to mange the chain/processes like Financial Institutes (banks)

    Blockchains use a “Peer-to-Peer (P2P)” Network.


    - Each Peer are called “Nodes” on the blockchain
    - Each Node receives a full copy of the entire blockchain with each block data (BTC
    blockchain = 529GB)
    - Each Node then constantly pings other nodes on the chain to verify their copies.

    When a new block is created, everyone who holds a copy on the network will receive that block.

    Each node will then verify the block to make sure that it has not been tampered with.
    Once verified the block is added on to everyone's blockchain.

    This creates consensus throughout the network


    SMART
    CONTRACTS

    Smart Contracts are simple programs stored on the blockchain and can be used to automatically exchange IP based
    on set conditions.

    All Smart Contracts are digital, NO HARDCOPIES!

    The idea of smart contracts was created in 1997 by a Computer Scientist Nick Szabo

    Smart contracts use a programing language called “Solidity”

    Solidity is composed of three major programing languages: C, Python, Java and uses JavaScript syntax

    Many Blockchains support Smart Contracts but Ethereum was designed for that sole purpose.

    This allows markets to be established based off the terms and conditions of the smart contract
    DIFFERENT TYPES OF SMART CONTRACTS

    ERC-20 ERC-721 ERC-1155


    ERC-20 is a widely adopted standard ERC-721 is an Ethereum token ERC-1155 is an Ethereum token
    on the Ethereum blockchain, defining a standard that facilitates the creation and standard that introduces a flexible
    set of rules and functions for the handling of unique, non-fungible multi-token standard, allowing a
    creation and management of fungible tokens (NFTs). single smart contract to manage
    tokens. both fungible and non-fungible
    tokens efficiently.

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