WEB3 NFT CRYPTOGRAPHY IN

BLOCKCHAIN TECHNOLOGY
 PR JECT COLLABORATORS
➢SAMBRAM K S (PROJECT LEAD)
➢MARUTHI PRASANNA REDDY
➢A MADAN
➢RAKESH N
➢G SHREYAS
INTRODUCTION
BLOCKCHAIN SYSTEM

Blockchain is a decentralized, distributed ledger that records

transactions across many computers in a PERMANENT and VERIFIABLE
way. Each block in the chain contains a cryptographic hash of the
previous block, a timestamp, and transaction data.
This makes it resistant to modification of the data and allows for
SECURE and TRANSPARENT record-keeping.
HISTORY OF
BLOCKCHAIN SYSTEM
 HISTORY OF
BLOCKCHAIN SYSTEM
Many of the technologies on which blockchain is based were in the works long
before bitcoin appeared. One of these technologies is the Merkle tree, named
after computer scientist Ralph Merkle. Merkle described an approach to public
key distribution and digital signatures called "tree authentication" in his 1979
Ph.D. thesis for Stanford University. He eventually patented this idea as a method
for providing digital signatures. The Merkle tree provides a data structure for
verifying individual records.
HISTORY OF
BLOCKCHAIN SYSTEM
 HISTORY OF
BLOCKCHAIN SYSTEM
In 1991, Stuart Haber and W. Scott Stornetta published an article about
timestamping digital documents. The article proposed a solution for preventing
users from backdating or forward-dating electronic documents. The goal was to
maintain complete privacy of the document itself, without requiring record-
keeping by a timestamping service. In 1992, Haber and Stornetta updated the
design to incorporate Merkle trees, which enabled multiple document certificates
to live on a single block.
HISTORY OF
BLOCKCHAIN SYSTEM
 HISTORY OF
BLOCKCHAIN SYSTEM
In 2008, Nakamoto published a white paper introducing the concepts behind
bitcoin and blockchain. Nakamoto is thought to be a pseudonym used by the
individual -- or group of individuals -- who proposed the technology. Blockchain
infrastructure would support secure, peer-to-peer transactions without the need
for trusted third parties such as banks or governments, according to white paper.
Nakamoto's true identity remains a mystery, but there has been no proof of
theories.
HISTORY OF
BLOCKCHAIN SYSTEM
 HISTORY OF
BLOCKCHAIN SYSTEM
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. The
ledger size had exceeded 200 GB by early 2020.

The words block and chain were used separately in Satoshi Nakamoto's original
paper, but were eventually popularized as a single word, blockchain, by 2016
 WEB 3.0
SEMANTIC WEB

GRAPHICS 3D
 WEB 3.0 EXPLAINED
Web 3.0 is the next generation of the internet, characterized by a
decentralized network and the integration of AI and blockchain technology. It
prioritizes user privacy, security and control over their data, and the
development of decentralized applications. Web 3.0 aims to solve the
problems of the centralized web, such as lack of privacy, censorship and
single point of failures. It aims to create a more inclusive and equitable
internet, where users have more control over their data and are able to share
it seamlessly across different platforms.
 GRAPHICS 3D

Web 3.0 can also be referred to as a spatial web, as it aims to

weave together the physical and virtual world by
revolutionizing graphics technology in the form of immersive
three-dimensional (3D) graphics.
 WEB 3.0 ADVANTAGES
• Decentralization of the internet
• Increased privacy and security
• Interoperability and portability of data
• Empowerment of users through digital economics
• The rise of blockchain technology
• The evolution of AI and its integration
• The use of peer-to-peer networks
CRYPTOGRAPHY
 CRYPTOGRAPHY IN BLOCKCHAIN TECHNOLOGY

Cryptography is a fundamental component of blockchain technology, providing

security and privacy for transactions and information on the blockchain. It
uses mathematical algorithms to secure data and ensure the authenticity of
information, making it difficult for anyone to manipulate the data stored in a
blockchain.
 TYPES OF CRYPTOGRAPHY

The most common Types of Cryptography used in Blockchain Technology include:

1. SYMMETRIC KEY CRYPTOGRAPHY

2. PUBLIC KEY CRYPTOGRAPGY (ASYMMETRIC KEY CRYPTOGRAPHY)
3. HASH FUNCTIONS
4. DIGITAL SIGNATURE
5. ELLIPTIC CURVE CRYPTOGRAPHY
 CRYPTOGRAPHY IN CYBER SECURITY SECTOR

Cryptography can ensure the confidentiality and integrity of both data in

transit as well as data at rest. It can also authenticate senders and recipients
to one another and protect against repudiation. Software systems often have
multiple endpoints, typically multiple clients, and one or more back-end
servers.
NON-FUNGIBLE
TOKEN
 NON FUNGIBLE TOKENS IN BLOCKCHAIN TECHNOLOGY

NFTs or Non-Fungible Tokens are unique

digital assets that are stored on a
blockchain network and represent
ownership of a specific item such as
artwork, music, videos, etc. The ownership of
an NFT is verified and recorded on the
blockchain, providing a secure and
transparent way of buying, selling, and
trading digital assets.
 BENEFITS OF NFTs FOR BUSINESSES

The NFTs offer huge opportunities for business leaders since they allow firms
to create new business models, thereby increasing the value of their current
goods and services and expanding untapped potential in different markets.
This new technology offers a wide variety of prospects for trading and
investing in a new class of digital assets, as well as an alternative mode of
financing initiatives.
 MARKET SIZE OF NFTs

• Revenue in the NFT segment is projected to reach US$3,546.00m in 2023.

• Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 22.82%
resulting in a projected total amount of US$8,068.00m by 2027.
• The average revenue per user in the NFT segment amounts to US$70.46 in 2023.
• In the NFT segment, the number of users is expected to amount to 64.45m users by
2027.
 MARKET SIZE OF NFTs
AVERAGE REVENUE PER USER
140

125.2
120
114.1
100.3
100

85.01
80
70.46
60
55.56

43.57
40

24.04
20

5.14 5.21
0
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Average Revenue per User
 REGULATIONS AND LEGAL ISSUES OF NFTs
(INDIAN LAWSUIT)

There is no formal or legal structure of legislation for NFTs, there is no proper

categorisation of NFTs under the Securities Contract Regulation Act,
1956(SCRA). Section 2(ac) of the SCRA defines the term ‘derivative’ as “a contract
whose value is derived from the prices of the underlying securities”. Trading in
NFTs would be illegal in India if they were considered a derivative, because then
they cannot be traded on virtual platforms as per Section 18a of the SCRA.
Derivative contracts are considered legal only when they are exchanged on a
recognised stock exchange.
TEDOC MODEL
 TEDOC MODEL

TARGET
In this step, the project team identifies the problem or opportunity that
blockchain technology can address. They define the project's goals and
objectives, and determine the stakeholders who will benefit from the project.
 TEDOC MODEL

EXPLORE
In this step, the project team identifies the problem or opportunity that blockchain
technology can address. They define the project's goals andIn this step, the team
investigates the feasibility of using blockchain technology to solve the problem or address
the opportunity. They assess the current market, existing solutions, and relevant
regulations. They also identify potential risks and challenges, and evaluate the technical
and business requirements. objectives, and determine the stakeholders who will benefit
from the project.
 TEDOC MODEL

DEVELOP
In this step, the team designs the blockchain solution and creates a prototype.
They test the solution in a controlled environment and refine it based on the
results.
 TEDOC MODEL

OPTIMIZE
In this step, the team optimizes the solution to ensure it is scalable, secure,
and efficient. They also evaluate the economic and financial aspects of the
project, such as the cost of development, deployment, and maintenance.
 TEDOC MODEL

COMMERCIALISATION
In this step, the team launches the solution in the market. They focus on
marketing and promoting the solution, building partnerships and collaborations,
and growing the user base. They also monitor and analyze the performance of
the solution and make any necessary adjustments to improve it.
CONCLUSION
 CONCLUSION
Blockchain Technology offers a secure and transparent way of conducting
digital transactions and record-keeping. It has the potential to revolutionize
industries ranging from finance, healthcare, and supply chain management.
The decentralized nature of blockchain ensures that there is no single point of
control or failure, making it more secure and resilient.

Nevertheless, the future of blockchain looks promising, and as the technology

continues to evolve and mature, it is likely to play a crucial role in shaping
the digital economy.
 CREDITS TO THE SOURCE
• BACKGROUND PICTURES : WWW.PEXELS.COM MID-JOURNEY(DISCORD)
• PROJECT OUTLINE : CHAT.OPENAI.COM
• PROJECT DATA : WWW.WIKIPEDIA.COM
THE NEW YORKER
AWS.AMAZON.COM
INVESTOPEDIA

• STATISTICS : INTERNATIONAL MONETORY FUNDS

COINSWITCH KUBER
COINDCX
THANK YOU