Blockchain

Dr. Debasis Das

Department of Computer Science and Engineering
IIT Jodhpur
10-08-2023 Indian Institute of Technology(IIT) Jodhpur
What is a blockchain?
• Blockchain is a technology that enables secure sharing of information.
Obviously, a database is where data is stored. A ledger is an account book
where transactions are recorded.
• A blockchain is a type of distributed database or ledger—one of today’s top
tech trends—which means the power to update it is distributed between the
nodes of a public or private computer network. This is known as
distributed ledger technology, or DLT.
• The network provides incentives for nodes to make updates to blockchains
in the form of digital tokens or currency.

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Blockchain
1. The core idea of a blockchain is decentralization. This means that blockchain does not
store any of its database in a central location.
2. Whenever a new block is added to the blockchain, every computer on the network
updates its blockchain to reflect the change.
3. This decentralized architecture ensures robust and secure operations on blockchain
with the advantages of tamper resistance and no single-point failure vulnerabilities.
4. This is enabled by a mechanism called consensus which is a set of rules to ensure the
agreement among all participants on the status of the blockchain ledger.
5. In general, blockchains can be classified as either a public (permission-less) or a
private (permissioned) blockchain.
6. A public blockchain is accessible for everyone and anyone can join and make
transactions as well as participate in the consensus process.
7. Private blockchains on the other hand are an invitation-only network managed by a
central entity. A participant has to be permissioned using a validation mechanism.
 distributed ledger technology blockchain

30.4
30.5
Block Structure

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Blockchain Network and the Process of Adding New
Transaction to Ledger

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Blockchain Business Value, Worldwide 2017-2030

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Global Blockchain Government Market by Geography during
the Period 2020- 2027

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Roadmap for Blockchain Technology Adoption

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Blockchain So far
• According to prominent statistics websites, the blockchain market is
expected to grow $20 billion by 2024.
• In India, the Andhra Pradesh state government has started implementing
the complete land registration through blockchain.
• There are much more other areas on the list. Like Voting, Healthcare,
Forecasting, Transportation, Energy management, etc
How we can make academic research useful to
the society?
• My research focuses mainly on Blockchain based Solution for Smart
Society.
• I am looking forward to focus on research areas that can extend the
availability and usefulness of technology and its advancement to our
society directly.
• I believe that this will certainly enhance their quality of living.

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Consensus algorithm
• A consensus algorithm is a procedure through which all the peers of the
Blockchain network reach a common agreement about the present
state of the distributed ledger.

30.16
Types of Consensus Algorithm

Baseline Consensus algorithms:

● Proof-of-Work (PoW)
● Proof-of-Stake (PoS)
● Practical Byzantine Fault Tolerance (PBFT)
Other variants of Consensus algorithms
● Delegated Proof-of-Stake (DPoS)
● Proof-of-Elapsed Time (PoET)

17
Proof of Work (PoW)
• Proof of work is a technique used by cryptocurrencies to verify the
accuracy of new transactions that are added to a blockchain. The
decentralized networks used by cryptocurrencies and other defi
applications lack any central governing authority, so they employ
proof of work to ensure the integrity of new data.
• Proof of Work (PoW) is the most widely used consensus algorithm,
where nodes compete to solve complex mathematical problems to
validate transactions and add new blocks to the chain. However, it is
energy-intensive and slow.

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Proof of Work (PoW)

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Proof of Work (PoW)

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Proof-of-stake (PoS)
• Proof-of-stake protocols are a class of consensus mechanisms for blockchains
that work by selecting validators in proportion to their quantity of holdings in
the associated cryptocurrency. This is done to avoid the computational cost of
proof-of-work schemes.

• Proof of Stake (PoS) is an alternative to PoW, where nodes are selected to

validate transactions based on the amount of cryptocurrency they hold. This
reduces energy consumption and increases transaction speed.

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Proof-of-stake (PoS)

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Proof-of-stake (PoS)

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

 Practical Byzantine Fault Tolerance (PBFT)
• The practical Byzantine fault-tolerant consensus algorithm is a distributed
consistency algorithm based on state machine replication. It requires
each node to sign when sending messages, and other nodes cannot modify
other nodes' messages.
• Practical Byzantine Fault Tolerance (PBFT) is a faster and more energy-
efficient consensus algorithm that requires a fixed number of nodes to
reach agreement before adding a block to the chain.

10-08-2023 Indian Institute of Technology(IIT) Jodhpur

Projects
Where Might Blockchain Use Cryptography?
 Key technology in Blockchain

30.28
 Edge Intelligence based System for Smart Healthcare Blockchain Based FinTech

Layer 2: Layer 3: Intelligent

Layer 1: Intelligent Edge Healthcare Devices
Intelligent Nodes
Cloud Data
Center

Dr. Debasis Das

Department of Computer
Science and Engineering
School of AI and Data Science VANET Lab (Intelligent Transportation System) Driver Behaviour Prediction

Email: Debasis@iitj.ac.in, Website: https://sites.google.com/view/debasisdas, Lab: https://vanets-iitj.github.io

Blockchain Based Testbed Implementation

10-08-2023 Indian Institute of Technology(IIT) Jodhpur