BLOCKCHAIN

TECHNOLOGY

BY
T.ANUSHA
S.SANTHANAMARI
1
 ABSTRACT
A Blockchain is essentially a distributed database of records or
public ledger of all transactions or digital events that have been
executed and shared among participating parties.Each transaction
in the public ledger is verified by consensus of a majority of the
participants in the system.And,once entered,information can
never be erased.The blockchain contains a certain verifiable
record of every single transaction ever made.The main hypothesis
is that the blockchain establishes a system of creating a
distributed consensus in the digital online world.This paper
describes blockchain technology and some of its useful
applications and the oppurtunities in this technology that is all
set to revolutionize our digital world.
CONTENTS
• Blockchain-Definition
• Components of Blockchain
• Feautures of Blockchain
• Power of Distributed Ledgers
• Working process of Blockchain
• Types of Blockchain
• Advantages and Disadvantages of Blockchain
• Top Blockchain Applications
• Future of Blockchain Technology
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BLOCKCHAIN-DEFINITION
➢ Blockchain technology is a decentralized,distributed ledger
that stores the record of ownership of digital assets.

➢ Any data stored in blockchain is unable to be

modified,making the technology a legitimate disruptor for
industries like payments,cybersecurity and healthcare.

➢ Virtually anything of value can be tracked and traded on a

blockchain network,reducing risk and cutting costs for all
involved.
 COMPONENTS OF BLOCK CHAIN
BLOCKS: Every blockchain consists of Multiple blocks and each block
has three basic elements,DATA,NONCE ,HASH.

MINER: Miners create new blocks on the chain through a process

called MINING,it adds new blocks to the existing chain,ensures that
these additions are accurate.

NODE: Blockchain nodes are the moderators that build the

infrastructure of a decentralized network,their primary function is to
maintain consensus of a blockchain’s pubic ledger,which varies from
one type of node to the next. 5
FFeatures of Blockchain
Increases the capacity of whole
Increased capacity network

Better Security Lack of single point failure

Immutability Transparency and correction proof

Distributed ledger Ensure a better outcome

Decentralised Store your assets in a network

Consensus To make nodes relatively faster

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POWER OF DISTRIBUTED LEDGERS
➢ It can be used without a central authority by individuals or
entities with no basis to trust each other.

➢ It can be used to create value or issue assets.

➢ It can be used to transfer value or the ownership of assets and

can be used to record those transfers of value or ownership of
assets.

➢ It can be used to allow owners of assets exercise certain rights

associated with ownership,and to record the exercise of those
rights. 7
8
 TYPES OF BLOCKCHAIN
PUBLIC Blockchain: Permissionless in nature, completely
decentralized, allow all nodes of the blockchain to have equal rights
to access the blockchain.

PRIVATE Blockchain: Permissioned Blockchains, controlled by a

single organization, partially decentralized.

CONSORTIUM Blockchain: Permissioned Blockchains governed by

a group of organizations,rather than one entity.

HYBRID Blockchain: Controlled by a single organization,with a

level of oversight performed by the public blockchain
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 ADVANTAGES DISADVANTAGES
• Faster processing • Time consuming
• Open • Elimination of errors
• Secure Transactions • 51% Attacks
• Stability • Immaturity
• Traceability • Scability
• Verifiable • Development Difficulty
• Immutability • Inefficient
• Instant Transactions • Storage

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TOP BLOCKCHAIN APPLICATIONS
• Cryptocurrency

• Cybersecurity

• Supplychain

• Accounting and record keeping

• Healthcare

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FUTURE OF BLOCKCHAIN
TECHNOLOGY
• Government data distribution

• Greater Transperancy between industries

• Institution issued Cryptocurrency

• Blockchain and identity

• World Economy via Blockchain

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 Thanks for waTching…
REFERENCE:
https://www.investopedia.com/terms/b/blockchain.asp
https://www.ibm.com/in-en/topics/what-is-blockchain
https://www.synopsys.com/glossary/what-is-blockchain.html
https://www.simplilearn.com/tutorials/blockchain-
tutorial/blockchain-technology
https://www.chetu.com/blogs/technical-perspectives/5-blockchain-
Predictions.php 13