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Lesson 01 Understanding Blockchain Technology

This lesson provides an overview of blockchain technology, explaining its key features such as decentralization, transparency, and immutability. It highlights how blockchain operates as a distributed ledger, ensuring secure and tamper-proof transactions across various industries. The lesson also discusses real-world applications, notably Bitcoin, showcasing the technology's potential impact beyond cryptocurrencies.

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khalilguefaifia
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Download as PPTX, PDF, TXT or read online on Scribd
2 views

Lesson 01 Understanding Blockchain Technology

This lesson provides an overview of blockchain technology, explaining its key features such as decentralization, transparency, and immutability. It highlights how blockchain operates as a distributed ledger, ensuring secure and tamper-proof transactions across various industries. The lesson also discusses real-world applications, notably Bitcoin, showcasing the technology's potential impact beyond cryptocurrencies.

Uploaded by

khalilguefaifia
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Lesson 1: Understanding

Blockchain Technology
Welcome to the first lesson on blockchain technology! This
presentation will provide a comprehensive overview of blockchain,
its key features, and its real-world applications. We will explore the
basic concepts, understand how it works, and examine its potential
impact on various industries. By the end of this lesson, you will
have a solid foundation for understanding blockchain and its role in
the digital landscape. Let's dive in and unlock the world of
blockchain!
by khalil guefaifia
What is Blockchain?
Blockchain is a distributed ledger technology (DLT) Each transaction is verified by multiple participants
that allows digital information to be recorded, stored, (nodes) in the network before being recorded
and shared across a decentralized network. Unlike permanently. Once recorded, the information cannot be
traditional centralized databases controlled by a single changed or deleted, ensuring security and
authority, blockchain operates without a central point transparency.
of control.
Key Features:
Decentralization

In traditional systems, one In a banking system,


entity controls the data. transactions go through a bank,
Blockchain removes central which approves or denies them.
control by distributing the In a blockchain network,
ledger across multiple transactions are approved
computers (nodes). Each collectively by thousands of
participant in the network nodes, making it decentralized
stores a copy of the entire and more resilient.
blockchain.
Key Features: Transparency
Every transaction on a public blockchain is recorded in a way
that anyone can verify. Transactions are stored in blocks, and
each block is visible to all participants in the network.

Even though transactions are transparent, users’ identities


remain pseudonymous, represented by wallet addresses, not
real names, preserving privacy while ensuring accountability.
Key Features: Immutability
1 Immutability means that once data is recorded, it cannot be
changed or deleted. Each block contains a cryptographic
hash (a unique code generated from transaction data).

2 If anyone tries to alter a block, its hash changes, breaking


the chain, which makes tampering almost impossible. This
ensures the integrity and reliability of the blockchain.
Blocks: The Foundation of
Blockchain
Transaction List
A block is a container that stores a set of transactions.
These transactions are the data being recorded on the
blockchain.
Unique Hash
Each block contains a unique hash that identifies the
block. This hash is a cryptographic fingerprint of the
block's data.
Previous Block's Hash
Each block also contains the previous block’s hash,
linking it to the chain and ensuring the integrity of the
blockchain.
Chains: Connecting the Blocks

1 Secure Sequence

2 Linked Structure

3 Integrity

The chain is the sequence of blocks connected together. Since each block contains the previous block’s hash, they
form a secure, linked structure. If Block #10 tries to change its data, its hash will change. But Block #11 already
stored the old hash of Block #10, which means the whole chain breaks and alerts the system to fraud.
Nodes: Maintaining the Blockchain

Mining Nodes
2

Full Nodes 1

Verification
3

Nodes are computers that store and maintain the blockchain. Each node has a complete copy of the blockchain and
helps verify transactions. Full nodes store the entire blockchain, while mining nodes validate transactions by solving
mathematical puzzles, contributing to the network's security and stability.
Real-World Example: Bitcoin Blockchain
Transaction Broadcast 1

2 Mining Confirmation

Block Addition 3

4 Bitcoin Received

Bitcoin was the first cryptocurrency built on blockchain technology. Instead of banks verifying transactions, Bitcoin relies on miners who solve cryptographic puzzles to
confirm transactions and add them to the blockchain. Every Bitcoin transaction is recorded on a public ledger, visible to everyone but secured by encryption, ensuring
transparency and security.
Key Takeaways
We have covered the fundamental aspects of Blockchain's applications extend beyond
blockchain technology, including decentralization, cryptocurrencies. Its ability to provide secure,
transparency, and immutability. Understanding these transparent, and decentralized solutions makes it
key features is essential for grasping the power and valuable in various industries, from supply chain
potential of blockchain. management to healthcare.

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