B.CA.

Self-Financed Course
Veer Narmad South Gujarat University, Surat
(VNSGU)
SEMINAR REPORT
AS
Project Requirement for the Degree
Of
Bachelor of Computer Application
Year 2022-23

BLOCKCHAIN TECHNOLOGY

GUIDED BY: SUBMITED BY:

54- Yasmin Shaikh

Mr. Chetan Dave
 Uni. Exam No.

V.S. Patel College of BCA & BBA, Bilimora.

Bachelor of Computer Application

CERTIFICATE

CLASS: - T.Y.B.C.A. Sem-6 ROLL NO.: - 54

This is to certify that Yasmin Shaikh has successfully completed the seminar

work entitled “blockchain technology” as the 6th Semester requirement for the

degree of Bachelor of Computer Application, as per the requirements of Veer

Narmad South Gujarat University rules and regulations, during the

academic year 2022-2023.

________________ ________________ ______________

Sign. Of Project Guide Sign. Of Co-ordinator Sign. Of Principal

(Pro.Chetan Dave) (Dr.Krunal Bhavsar) (Dr.Arvind Bajaj)

Place: Bilimora.

Date:

Sign. Of Examiner: _______________

 ACKNOWLEDGMENT
I take this opportunity to thank all those who have their support in preparing this seminar
“Blockchain Technology”. Firstly , I would like to express deep sense of gratitude towards
V.S.PATEL COLLEGE OF ARTS & SCIENCE,BCA & BBA DEPARTMENT BILIMORA for providing
me this opportunity to implement the theoretical knowledge into practical work as part of
seminar sixth semester course curriculum.

I would not miss the opportunity to thank my seminar guide Pro.Chetan Dave Who has
always provided continues guidance & support and always been a stepping stone in
completing this seminar without his assistance this would have not been possible.

I am also very thankful to I/C Principal Dr.Arvind Bajaj for his been interest and providing
all facilities needed for the seminar work.

I am very thankful to my coordinator Dr.Krunal S. Bhavsar for his valuable advice and
guidance . I am also grateful to my parents and friend whose continues support has always
boosted my moral towards working on this seminar.

Last but not least , I am thankful to all those who have helped me directly or indirectly in
developing this without whose sincere guidance this seminar would not have been possible.

Submmited By:

Shaikh Yasmin
 INDEX
1 What is blockchain?

2 How does a blockchain work?

3 Components of blockchain

4 Features of blockchain

5 Advantages & Disadvantages of blockchain

6 Future scope of blockchain

7 Conclusion

8 Bibliography
WHAT IS BLOCKCHAIN?

• A Blockchain is a distributed database or ledger that is shared among the

nodes of a computer network.

• Blockchain is a shared , immutable ledger that facilitates the process of

recording transactions and tracking assets in a business network.

• As a database , a blockchain stores information electronically in digital

format.

• Blockchain are best known for their crucial role in cryptocurrency system
, such as Bitcoin , for maintaining a secure and decentralized record of
transaction.

• The innovation with a blockchain is that it guarantees the fidelity and

security of a record of data and generates trust without the need for a
trusted third party.
HOW DOES A BLOCKCHAIN WORK ?

• One key difference between a typical database and blockchain is how the
data is structured.

• A blockchain collects information together in groups , known as “Block” ,

that hold sets of information.

• Block have certain storage capacities and when filled are closed and linked
to the previously filled block , forming a chain of data known as the
“blockchain”.

• All new information that follows that freshly added block is compiled into
a newly formed block that will then also be added to the chain once filled.

• Blockchain is a type of shared database that differs from a typical

database in the way that it stores information , blockchain stores data in
blocks then linked together via cryptography.

• The goal of blockchain is to allow digital information to be recorded and

distributed but not edited.
• In this way a blockchain is the foundation for immutable ledgers , or
records of transactions that cannot be altered , deleted , or destroyed.

• This is why blockchain are also known as a distributed ledger

technology(DLT).
• Each block contain some data , the hash of the block , and hash of previous
block.
• The data there is store inside a block it depends on types of blockchain.
COMPONENTS OF THE BLOCKCHAIN

• Distributed Ledger
• Peer-to-peer network – P2P
• Consensus Mechanism
• Cryptography
• Virtual Machine
FEATURES OF BLOCKCHAIN

• Immutable : Immutability means that the blockchain is a permanent and

unalterable network. Blockchain technology functions through a
collection of nodes. Any validated records are irreversible and cannot be
changed. This means that any user on the network won’t be able to edit
, change or delete it.

• Decentralized : This is one of the key features of blockchain technology

that works perfectly . The network is decentralized meaning it doesn’t
have any governing authority or a single person looking after the
framework. Rather a group of nodes maintains the network making it
decentralized . As the system doesn’t require any governing authority ,we
can directly access it from the web and store our assets there.

• Enhanced Security : As it gets rid of the need for a central authority , no

one can just simply change any characteristics of the network for their
benefit. Using encryption ensures another layer of security for the system.

• Distributed Ledgers : Usually, a public ledger will provide every

information about a transaction and the participant. It’s all out in the
open, nowhere to hide. Although the case for private or federated
blockchain is a bit different. But still, in those cases , many people can see
what really goes on in the ledger. That’s because the ledger on the
network is maintained by all other users on the system. This distributed
computational power across the computers to ensure a better outcome.
• Consensus : Every blockchain thrives because of the consensus
algorithms . the architecture is cleverly designed, and consensus
algorithms are at the core of this architecture. Every blockchain has a
consensus to help the network make decisions.In simple terms, the
consensus is a decision-making process for the group of nodes active on
the network.

• Faster Settlement : Traditional banking systems are quite slow.

Sometimes it can take days to process a transaction after finalizing all
settlements. It also can be corrupted quite easily. Blockchain offers a
faster settlement compared to traditional banking systems. This way a
user can transfer money relatively faster , which saves a lot of time in the
long
ADVANTAGES OF BLOCKCHAIN

• Open : One of the major advantages of blockchain technology is that it is

accessible to all means anyone can become a participant in the
contribution to blockchain technology one does not require any
permission from anybody to join the distributed network.

• Verifiable : Blockchain technology is used to store information in a

decentralized manner so everyone can verify the correctness of the
information by using zero-knowledge proof through which one party
proves the correctness of data to another party without revealing
anything about data.

• Permanent : Records or information which is stored using blockchain

technology is permanent means one needs not worry about losing the
data because duplicate copies are stored at each local node as it is a
decentralized network that has a number of trustworthy nodes.

• Free from Censorship : Blockchain technology is considered free from

censorship as it does not have control of any single party rather it has the
concept of trustworthy nodes for validation and consensus protocols that
approve transactions by using smart contracts.

• Immutability : Data cannot be tampered with in blockchain technology

due to its decentralized structure so any change will be reflected in all the
nodes so one cannot do fraud here, hence it can be claimed that
transactions are tamper-proof.
• Transparency : It makes histories of transactions transparent everywhere
all the nodes in the network have a copy of the transaction in the
network. If any changes occur in the transaction it is visible to the other
nodes.

• Tighter Security : Blockchain uses hashing techniques to store each

transaction on a block that is connected to each other so it has tighter
security. It uses SHA 256 hashing technique for storing transactions.

• Efficiency : Blockchain removes any third-party intervention between

transactions and removes the mistake making the system efficient and
faster. Settlement is made easier and smooth.

• Cost Reduction : As blockchain needs no third man it reduces the cost for
the businesses and gives trust to the other partner.
DISADVANTAGES OF BLOCKCHAIN

• Scalability : It is one of the biggest drawbacks of blockchain technology

as it cannot be scaled due to the fixed size of the block for storing
information. The block size is 1 MB dueto which it can hold only a couple
of transactions on a single block.

• Immaturity : Blockchain is only a couple-year-old technology so people

do not have much confidence in it, they are not ready to invest in it yet
several applications of blockchain are doing great in different industries
but still it needs to win the confidence of even more people to be
recognized for its complete utilization.

• Energy Consuming : For verifying any transaction a lot of energy is used

so it becomes a problem according to the survey it is considered that 0.3
percent of the world’s electricity had been used by 2018 in the
verification of transactions done using blockchain technology.

• Time-Consuming : To add the next block in the chain miners need to

compute once values many times so this is a time-consuming process
and needs to be speed up to be used for industrial purposes.

• Legal Formalities : In some countries, the use of blockchain technology

applications is banned like cryptocurrency due to some environmental
issues they are not promoting to use blockchain technology in the
commercial sector.

• Storage : Blockchain databases are stored on all the nodes of the

network creates an issue with the storage, increasing number of
transactions will require more storage.

• Regulations: Blockchain faces challenges with some financial

institution. Other aspects of technology will be required in order to
adopt blockchain in wider aspect.
FUTURE SCOPE OF BLOCKCHAIN TECHNOLOGY

1. Money transfer

With blockchain, payments are set to be low-cost, secure and

processed quickly, overall facilitating money transfer
regardless of the distance between the sender and receiver.

2. Smart contracts

Smart contracts are simply programs stored on a blockchain

that run when predetermined conditions are met. They
typically are used to automate the execution of an
agreement so that all participants can be immediately
certain of the outcome, without any intermediary’s
involvement or time loss.

3. Internet of Things (IOTs)

IOT enables devices across the Internet to send data to

private blockchain networks to create tamper- resistant
records of shared transactions.

4. Healthcare

Blockchain has a wide range of application and uses in

healthcare. DLT facilitates the secure transfer of patient
medical records, manages the medicine supply chain and
helps healthcare researchers unlock genetic code.

5. Logistics & supply chain management

Blockchain can help make logistics companies more efficient

through a public ledger system that records the motions of
each shipping container.
6. Non-fungible tokens (NFTs)

It is generally built using the same kind of programming as

cryptocurrency, like bitcoin or Ethereum. Physical money
and cryptocurrencies are “fungible”, meaning they can be
traded or exchanged for one another.

7. Government

On a blockchain based government model individuals,

businesses, and government over a distributed ledger
secured using cryptography. This structure eliminates a single
point of failure and inherently protects sensitive citizen and
government data.

8. Media & Entertainment

On a blockchain based platform, artists can upload original

works, self-publish, control licensing options and manage
distribution.

9. Personal identity security

With blockchain technology, information about identity is

auditable, traceable and verifiable in just seconds. Individuals
can collect their own profiles and control data sharing.
10. Insurance :
With blockchain technology’s decentralized system, insurers can identify false
claims and prevent forgeries.

11. Transportation :
Utilizing blockchain technology enables traceability in the transportation
industry, where the shipment of goods can be easily tracked.

12. Real Estate :

Deploying blockchain technology in real estate increases the speed of the
conveyance process and eliminates the need for money exchanges.
CONCLUSION

• In this short presentation we were introduced to several concepts of

Blockchain by taking Bitcoin as a case study .

• The Bitcoin is the first successful implementation of blockchain.

• Today , the world has found application of blockchain technology in

several industries , where the trust without the involvement of a
centralized authority is desired .

• So welcome to the world of Blockchain.

BIBLIOGRAPHY

• google.com

• geeksforgeeks.com

• forbes.com