Industrial Training

on

“BLOCKCHAIN TECHNOLOGY”

Presented By: Submitted to:

Apoorva Agarwal(21EJCCS038) Mrs. Madhu Chaudhary
Armaan Sinwar(21EJCCS039)
Dev Saxena(21EJCCS062)
Dimple Tolani(21EJCCS067)
• Blockchain
CONTENTS
• Difference between web1,web2 and web3
• Why Web3
• Cryptography
• Smart Contact
• Remix IDE
• Solidity
• Cryptocurrency
• Liquidity
• MetaMask
• Difference between Coins and Tokens
• Why Tokens
• Project
Blockchain
Blockchain is a method of recording information that makes it impossible or difficult for the system to
be changed, hacked, or manipulated. A blockchain is a distributed ledger that duplicates and
distributes transactions across the network of computers participating in the blockchain .

Blockchain technology is a structure that stores

transactional records, also known as the block,
of the public in several databases, known as the
“chain,” in a network connected through peer-to-
peer nodes. Typically, this storage is referred to
as a ‘digital ledger.’
• Every transaction in this ledger is authorized by the digital signature of
the owner, which authenticates the transaction and safeguards it from
tampering. Hence, the information the digital ledger contains is highly
secure.

• Blockchain is a combination of three leading technologies:

 Cryptographic keys
 A peer-to-peer network containing a shared ledger
 A means of computing, to store the transactions and records of the
network
 Advantages
Immutability. Blockchain supports immutability, meaning it is impossible to erase
or replace recorded data. Therefore, the blockchain prevents data tampering
within the network.

Transparency. Blockchain is decentralized, meaning any network member can

verify data recorded into the blockchain. Therefore, the public can trust the
network.
 Censorship. Blockchain technology is free from censorship since it does not have
control of any single party. Therefore, no single authority (including governments)
can interrupt the operation of the network.

Traceability. Blockchain creates an irreversible audit trail, allowing easy tracing of

changes on the network.
Disadvantages
Speed and performance. Blockchain is considerably slower than the traditional
database because blockchain technology carries out more operations. First, it
performs signature verification, which involves signing transactions
cryptographically.

High implementation cost. Blockchain is costlier compared to a traditional

database. Additionally, businesses need proper planning and execution to
integrate blockchain into their process.

 Data modification. Blockchain technology does not allow easy modification of

data once recorded, and it requires rewriting the codes in all of the blocks, which
is time-consuming and expensive. The downside of this feature is that it is hard
to correct a mistake or make any necessary adjustments.
 Web1, Web2 and Web3
WEB1 WEB2 WEB3

Static web pages filled with text and Modern and responsive web that can Web will be everywhere anywhere
images content be accessed on any device and on any devices.

Websites were hosted and Dynamic web pages with automatic The web is available on connected
maintained by web server content updates from various data systems only but web3 will be
administrator source connected otherwise

Web layouts were statically created Modern front end technologies Digital assets NFTs
using HTML pages HTML5, CSS etc.

All web browsers were not on the Launch and success of social media Decentralized autonomous
same pages. platform organizations.

User will have to refresh the pages of Growth and adoption of cloud Metaverse
content for updates computing platform

Web front end technologies were Introduction to various cutting edge Growth of open communities
HTML, PHP, ASP, JSP technologies
 Why WEB 3.0

Web3 is the next iteration of the internet. It heavily relies on blockchain

technology, machine learning, and artificial intelligence (AI) It aims to
create a decentralized internet with open, connected, intelligent
websites and web applications.

The idea of Web3 refers to a ‘decentralized

online ecosystem based on blockchain.’
 Advantages
1. Data Ownership

In Web 2.0, tech giants control and exploit user-generated data. In

blockchain-powered web3, end-users take will take full ownership of the
data using. You will be able to choose what information you want to share
with businesses and advertising companies and make money from it..

2. Transparency

The decentralized web will enable users to track their data and look over
the source code of the platforms they decide to utilize. All the
stakeholders will always be aware of the value and commerce they are
associated with. You will not need to rely on a middleman for access to
this data.
3. Efficient Searching and Information Linking

In Web3, you will be able to search for information more efficiently.

When you will search for something on a search engine, it will show
you more relevant search results instead of showing you the most
popular pages that people click. The semantic web will help in better
connectivity of online data. It will help you by saving more time while
searching for the information and being more productive.

4. Personalized Web Surfing Experience

It will offer a more personalized internet surfing experience as websites
will be better able to recognize our preferences. Web applications
analyze our internet usage and habits to customize themselves to fit
best to our device, location, etc.
 Disadvantages
 It may be a bit complicated to understand for beginners.
tion s Com p
ca ilers
Appli that decentralization
 Some experts also believe will lead to difficulties in
monitoring and regulating Web3. As a result, we could see a rise in
s
on
ati

cybercrimes.
lic
p

 Web 1.0 websites will seem more outdated.

Ap

 Easy access to user’s personal and public data: Web3 is huge and
interconnected, which is why it is easier for anyone to gain access to the
vi

public and private data that you share online.

 As Web3-based websites and applications become popular, the pressure
cd
will come on existing businesses to upgrade. They will be under pressure
to upgrade their digital offerings so that they don’t lose their captured
market.
 Applications
Blockchain application- Polkadot
Polkadot is a decentralized web3 blockchain project designed to achieve
the multichain vision for the decentralized web. With features like true
interoperability, parachains, parathreads, high energy efficiency and
user-driven governance, Polkadot stands apart from the rest of the third-
generation advanced blockchains. Polkadot’s ecosystem facilitates the
development of innovative dApps and solutions that can seamlessly
support diverse web3 projects.
Gaming application- Axie Infinity
Axie Infinity is a new-age web3 gaming platform that implements a play-to-
earn model, allowing the players to play, earn and trade NFTs-based game
assets like weapons, skin, vehicles, etc., and collectibles. To access the Axie
Infinity platform, users must complete a multi-step process, which includes
setting up an Axie Infinity account and connecting the wallet.
DeFi application- Uniswap
Uniswap is a web3 DeFi exchange protocol that
uses an open and decentralized network protocol
to provide ownership completely to the users
instead of a single entity. Developers, traders, and
liquidity providers participate together in a financial
marketplace that is open and accessible to all.
 Cryptography

• Cryptography is a method of securing data from unauthorized access. In

the blockchain, cryptography is used to secure transactions taking place
between two nodes in a blockchain network. Cryptography is used to
encrypt messages in a P2P network and hashing is used to secure the
block information and the link blocks in a blockchain.
 Cryptography is a technique or a set of protocols that
secure information from any third party during a
process of communication. It is also made up of two
Greek terms, Krypto's term meaning “hidden” and
Graphene, a term meaning “to write”. Some terminologies related to
Cryptography:
• Encryption: Conversion of normal text to a random sequence of bits.
• Key: Some amount of information is required to get the information of the
cryptographic algorithm.
• Decryption: The inverse process of encryption, conversion of a Random
sequence of bits to plaintext.
• Cipher: The mathematical function, i.e. a cryptographic algorithm which is
used to convert plaintext to ciphertext(Random sequence of bits) .
 Benefits of Cryptography
Encryption: Cryptography uses asymmetric encryption to ensure that the
transaction on their network guards the information and communication against
unauthorized revelation and access to information.

Immutability: This feature of cryptography makes it important for blockchain and

makes it possible for blocks to get securely linked by other blocks and also to
ensure the reliability of data stored in the blockchain, it also ensures that no
attacker can derive a valid signature for unposed queries from previous queries
and their corresponding signatures.

Security: Cryptography makes the records of transactions easier using encryption

of data, and accessing of data using public and private keys. Cryptographic
hashing tampering with data is not possible, making blockchain more secure.
• Scalability: Cryptography makes the transaction irreversible giving the
assurance that all users can rely on the accuracy of the digital ledger. It allows
limitless transactions to be recorded securely in the network.

• Non-repudiation: The digital signature provides the non-repudiation service to

guard against any denial of a message passed by the sender. This benefit can
be associated with collision resistance i.e.; since every input value has a
unique hash function so there is no clash between the messages that are sent
and one message can be easily differentiated from the other.

• Prevent hackers: The digital signature prevents hackers from altering the data
because if the data changes, the digital signature becomes invalid. With the
help of cryptography, it protects the data from hackers and makes cryptography
in blockchain unstoppable.
 Smart Contact

• Smart contracts are scripts that automate the actions specific to a contract
between two parties.

• Smart contracts do not contain legal language, terms, or agreements—only

code that executes actions when specified conditions are met.

• The primary benefit of smart contracts is similar to the benefit of blockchain

technology—they remove the need for third parties.
• Other benefits of this technology are:

• Efficiency: They speed up contract execution

• Accuracy: There can be no human error introduced
• Immutability: The programming cannot be altered

• Some of the downfalls of smart contracts are:

• Permanent: They cannot be changed if there are mistakes

• Human factor: They rely on the programmer to ensure the code addresses the
terms of the contract

• Loopholes: There may be loopholes in the coding, allowing for contracts to be

executed in bad faith.
Remix IDE
Remix IDE is an open source online and desktop application. A
comprehensive selection of plugins with intuitive GUIs helps speed up
development of Smart Contracts in Remix. Remix is used for contract
development as well as studying and teaching Ethereum.

Remix IDE is part of the Remix Project, a framework for plugin-based

development tools. It includes Remix Plugin Engine, Remix Libs, and Remix-
IDE. Solidity contracts may be written using Remix IDE, a sophisticated open-
source tool.
 Solidity
Solidity is an object-oriented programming language created specifically by the
Ethereum Network team for constructing and designing smart contracts on
Blockchain platforms.
• It's used to create smart contracts that implement business logic and generate
a chain of transaction records in the blockchain system.
• It acts as a tool for creating machine-level code and compiling it on the
Ethereum Virtual Machine (EVM).
• It has a lot of similarities with C and C++ and is pretty simple to learn and
understand. For example, a “main” in C is equivalent to a “contract” in Solidity.
Like other programming languages, Solidity programming also has variables,
functions, classes, arithmetic operations, string manipulation, and many other
concepts.
Advantages
Apart from the primary functionality of Solidity Programming, there are many
other features provided by Solidity programming that cause it to have an
edge over other Ethereum based languages.
•Apart from fundamental data types, Solidity programming also allows
complex data types and member variables.
•It provides an Application Binary Interface (ABI) to enable type safety. If the

compiler discovers a data type

mismatch for any variable, the ABI
generates an error.
 Cryptocurrency
Cryptocurrency is a digital payment system that
doesn't rely on banks to verify transactions. It’s a
peer-to-peer system that can enable anyone
anywhere to send and receive payments. Instead
of being physical money carried around and exchanged in
the real world, cryptocurrency payments exist purely
as digital entries to an online database describing
specific transactions. When you transfer
cryptocurrency funds, the transactions are
recorded in a public ledger. Cryptocurrency is
stored in digital wallets.
 How does cryptocurrency
work?
Cryptocurrencies run on a distributed public ledger called blockchain, a record of all
transactions updated and held by currency holders.
Units of cryptocurrency are created through a process called mining, which
involves using computer power to solve complicated mathematical problems that
generate coins. Users can also buy the currencies from brokers, then store and
spend them using cryptographic wallets.
If you own cryptocurrency, you don’t own anything tangible. What you own is a key
that allows you to move a record or a unit of measure from one person to another
without a trusted third party.

Examples: Bitcoin, Ethereum, Litecoin, Ripple

Advantages
Removes single points of failure

Easier to transfer funds between parties

Removes third parties

Can be used to generate returns

Remittances are streamlined

Disadvantages
Transactions are pseudonymous

Pseudonymity allows for criminal uses

Have become highly centralized

Expensive to participate in a network and earn

Off-chain security issues

Prices are very volatile

Liquidity
• The ease with which a digital token can be converted into a digital asset or cash
without affecting its price is referred to as liquidity in cryptocurrency.
• Liquidity in cryptocurrency reduces investment risk and, more importantly, aids
in the development of an exit strategy, making it easier to sell your holdings.
• Liquidity in cryptocurrency allows for price stability and decreased volatility, as
well as assists in the analysis of trader activity .
MetaMask
MetaMask is a browser plugin that serves as an Ethereum wallet, and is
installed like any other browser plugin. Once it's installed, it allows users to
store Ether and other ERC-20 tokens, enabling them to transact with any
Ethereum address.

By connecting to MetaMask to Ethereum-based apps, users can spend their

coins in games, stake tokens in gambling applications, and trade them on
decentralized exchanges (DEXs). It also provides users with an entry point
into the emerging world of decentralized finance, or DeFi, providing a way to
access DeFi apps such as Compound and PoolTogether.
Advantages
Popular - It is commonly used, so users only need one plugin to access a
wide range of dapps.

 Simple - Instead of managing private keys, users just need to remember a

list of words, and transactions are signed on their behalf.

Saves space - Users don’t have to download the Ethereum blockchain, as

MetaMask sends requests to nodes outside of the user’s computer.

 Integrated - Dapps are designed to work with MetaMask,

so it becomes much easier to send Ether in and out.

 Coins and Tokens
PARAMETERS COINS TOKEN

BLOCKCHAIN Native to their own blockchain Build on another blockchain

mainly Ethereum network

USE CASE Created as a replacement for flat Utility, Security, Governance,

currencies And NFTs

QUANTITY PER BLOCKCHAIN Only one coin per blockchain Multiple tokens can exist on the
NETWORK same blockchain

PRICE LEVEL Generally higher than tokens Lower than crypto coins

DISTRIBUTION Mined through proof of work or Crested and distributed by project

earned through proof of stake developers
protocol

EXAMPLES BTE, ETH, BNB, ADA USDT, USDC, DAI, UNI

Why Tokens
•Crypto tokens are a digital representation of an asset or
interest in something and are built on a blockchain.

•Crypto tokens can also be used as investments, to store

value, or to make purchases.

•Cryptocurrencies are digital representations of

value designed to facilitate transactions (making
and receiving payments) using blockchain
technology.

•Often purchased through an initial coin offering,

crypto tokens are generally used to raise funds to
develop projects.
Advantages
Increased security: Crypto tokens use advanced cryptographic algorithms
that make it virtually impossible for hackers to steal or manipulate data.
Faster transactions: Blockchain technology enables real-time transactions,
which can significantly reduce transaction times compared to traditional
banking systems.
Reduced costs: Transacting with crypto tokens eliminates the need for
intermediaries such as banks, which can save businesses and consumers
substantial amounts of money.
Greater accessibility: Anyone with an internet connection can buy, sell, or
trade crypto tokens, which makes it more inclusive than traditional financial
systems.
Project
Building a token (JECRC Custom Token) using Blockchain Technology.
JEC TOKEN
PROGRAM CODE
TRANSACTION PROCESSING
TRANSACTION DONE SUCCESSFULLY
THANK YOU!!!