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Software Engineering

This document provides an overview of blockchain and its potential implementations. It defines blockchain as a distributed ledger that records transactions in blocks secured through cryptography. It explains how blockchain works through a decentralized network of miners who process and verify transactions and add blocks to the chain. It discusses key use cases for blockchain including cryptocurrency, smart contracts, and the internet of things. For cryptocurrency, it describes how blockchain solves issues with traditional currencies through cryptography. For smart contracts, it explains how blockchain can automate contractual terms. And for IoT, it presents examples of how blockchain could facilitate peer-to-peer energy transactions.

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82 views18 pages

Software Engineering

This document provides an overview of blockchain and its potential implementations. It defines blockchain as a distributed ledger that records transactions in blocks secured through cryptography. It explains how blockchain works through a decentralized network of miners who process and verify transactions and add blocks to the chain. It discusses key use cases for blockchain including cryptocurrency, smart contracts, and the internet of things. For cryptocurrency, it describes how blockchain solves issues with traditional currencies through cryptography. For smart contracts, it explains how blockchain can automate contractual terms. And for IoT, it presents examples of how blockchain could facilitate peer-to-peer energy transactions.

Uploaded by

krisnu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Understanding Blockchain and Its Implementation

STEM Education Forum

Universitas Prasetiya Mulya


BSD Campus
What is Blockchain ?
The technology behind cryptocurrencies

A technology that permits transactions to be


gathered into blocks and recorded; A DISTRIBUTION LEDGER

linked and secured using cryptography;

Has decentralized or distributed network


Centralized vs Decentralized vs Distributed
How Blockchain works : Basics
How Blockchain works : Maintenance
Blockchain is not centralized (does not have one owner),
therefore there are strict rules about how it must be maintained

The individuals who maintain and update the Blockchain are


“miners,” and they are paid a reward

The Miners process transactions by:


- Solving a complex mathematical problem
- Sending transactions to other nodes to be verified.

When all miners agree the problem has been solved correctly,
the block is added to the chain and is visible to the entire network
The Blockchain Use Cases

CRYPTOCURRENCY

SMART CONTRACT

IOT
What is Cryptocurrency ?
Digital asset or digital currency designed to work as a medium of exchange using
cryptography to secure the transaction

CRYPTOGRAPHY : The process of converting legible information into an almost


uncrackable code (encryption), to secure their units of exchange.
The Story Behind Cryptocurrency
Bitcoin is not the world’s first cryptocurrency. Many have come before it but all have failed. And the reason
for failure? Virtual currency had an inherent problem – it was easy to double spend.

Fortunately, in 2007, Satoshi Nakamoto started working on the Bitcoin concept. On October 31st the
following year, he released his white paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System”
Why Do Cryptocurrencies Exist ?
Cryptocurrencies exist to address weaknesses in traditional currencies which are,
of course, backed by central banks and governments.

This makes traditional currencies prone to corruption and manipulation, among a


host of other issues.
Blockchain for Smart Contract
SMART CONTRACT : Self-automated computer programs that can carry out the terms of any
contract. Mostly based on objective conditions precedent : “If, then” criteria
● Brooklyn Microgrid is developing a community-powered microgrid.

● Residents with solar panels can sell excess energy back to their
neighbours, in a peer-to-peer transaction which takes advantage
of blockchain. → create financial incentives
Blockchain for Internet of Things
Chain of Things
Thank you ...

Sesaria Kikitamara, M. Sc
Department of Software Engineering
Universitas Prasetiya Mulya
Email : [Link]@[Link]

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