BlockChain

By
Rahul Gurrala
Sabarinathan Chinnaraj
 What is BlockChain?
The simplest blockchain definition? A reliable, difficult-to-hack
record of transactions – and of who owns what. Blockchain is
based on distributed ledger technology, which securely records
information across a peer-to-peer network. Although it was
originally created for trading Bitcoin, blockchain potential
reaches far beyond cryptocurrency. Blockchain ledgers can
include land titles, loans, identities, logistics manifests –
almost anything of value. The technology is still new, but the
potential impact it can have on business is exciting, and
immense.
 What is distributed ledger technology?

A distributed ledger is a database of transactions that

is shared and synchronised across multiple computers
and locations – without centralised control. Each
party owns an identical copy of the record, which is
automatically updated as soon as any additions are
made.
 How does blockchain work?
A blockchain records data across a peer-to-peer
network. Every participant can see the data and
verify or reject it using consensus algorithms.
Approved data is entered into the ledger as a
collection of “blocks” and stored in a
chronological “chain” that cannot be altered.
 Types Of BlockChain Networks
1.Consortium blockchains
2.Semi-private blockchains
3.Private blockchains
4.Public blockchains
 Benefits of blockchain
1.Fewer Intermediaries
2.Faster Processes
3.Transparency
4.Security
5.Automation
Thank You