Blockchain

By

B.Sai Venkatesh 1701A05C4 

Under the esteemed guidance of

Mr. Sravan Kumar Reddy M.Tech(Ph.D)

Assistant Professor, Dept of CSE

DEPARTMENT OF COMPUTER SCIENCE AND ENGINEERING

RAJEEV GANDHI MEMORIAL COLLEGE OF ENGINEERING &
TECHNOLOGY
(AUTONOMOUS)
NANDYAL-518501, (Estd-1995)
Contents
 Abstract
 History Of Bitcoin
 Bitcoin Vs Blockchain
 Blockchain
 Bitcoin Ecosystem
 Key Features
 Challenges
Abstract
A blockchan, originally block chain, is a growing list of records,
called blocks, that are linked using cryptography. Each block
contains a cryptographic hash of the previous block, a timestamp,
and transation data (generally represented as a Merkle tree).

A blockchain is a distributed software network that functions

both as a digital ledger and a mechanism enabling the secure
transfer of assets without an intermediary. Just as the internet is a
technology that facilitates the digital flow of information, blockchain
is a technology that facilitates the digital exchange of units of value.
Anything from currencies to land titles to votes can be tokenized,
stored, and exchanged on a blockchain network.
The history of Bitcoin

2013 2014 2017

1 Bitcoin equals Microsoft 1 Bitcoin equals

100 USD accepts Bitcoin 10,000 USD
Bitcoin ≠ blockchain

Is an application Is the underlying

of blockchain datastructure, which
technology can be used for many
things, including
cryptocurrencies
What is A Blockchain?

A blockchain is a growing list of data blocks that are linked

together.

Dat Dat Dat

a a a

Referen Referen Referen

ce ce ce
Bitcoin ecosystem

A public network in which

anyone, including a malicious
participant, can participate
without restriction.

Even though it is not

organized by a central
authority, it works!
Bitcoin ecosystem

More
Security
More
Participant
s

Increase
d Bitcoin
Value
Cutting the middleman

E.g. direct transfer

of Bitcoins
Building Consensus

After a finite time, all

participants agree
on a single state.

E.g. on who owns

how many Bitcoin.
CREATING WITNESSES

If something is
published on a public
blockchain, all
participants become
witnesses.

This is used, for

example, by
OriginStamp to
create a secure
timestamp for
documents.
Key Features

Write-only, Resistant against

immutable, malicious
transparent data participants
storage
Decentralized, no Open to everyone
need for
intermediaries
Consistent state
across all
participants
challenges

Energy consumption

Scalability

Money laundering

Personal responsibility
Thank You