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Blockchain Final

A Blockchain is an immutable, distributed ledger that allows peer-to-peer value transfer without a central authority, first implemented in Bitcoin. There are three types of Blockchains: public, private, and hybrid, each varying in accessibility, anonymity, and transaction costs. Blockchain offers benefits such as automated trust, efficient contract management, and secure data sharing, ensuring data integrity and traceability.

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Amit Singh
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6 views5 pages

Blockchain Final

A Blockchain is an immutable, distributed ledger that allows peer-to-peer value transfer without a central authority, first implemented in Bitcoin. There are three types of Blockchains: public, private, and hybrid, each varying in accessibility, anonymity, and transaction costs. Blockchain offers benefits such as automated trust, efficient contract management, and secure data sharing, ensuring data integrity and traceability.

Uploaded by

Amit Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Blockchain

-AMIT SINGH
-Sybscit
What is a Blockchain
• A Blockchain is fundamentally an immutable, distributed ledger.
• A mathematical structure for storing data in a way that is nearly impossible to fake. It can be used
for all kinds of valuable data.
• Using a Blockchain, participants can transfer value as simply as sending an SMS, entirely peer to
peer without the need for a central party to confirm the validity of the transaction.
• The first implementation of blockchain was in Bitcoin, where every “node” in the network has a copy
of the ledger, and “miners” solve a cryptographic puzzle to arrive at a single source of truth.

Reduced, time, increased data security, low transaction costs.


What is a Blockchain
Types of Blockchains
Data Identity Crypto- Smart Security Speed Scalability Costs
currency contracts (scale of
1-5)
Public Accessible anonymous Most of the time Most of the 5 3 3 Very very low
to everyone yes time yes transaction
costs

Private Only Revealed to No yes 3 5 5 Depends on


accessible all the context
to the participants
participants

Hybrid Certain data pseudonymo Sometimes yes yes 4 4 4 Low


is public us transaction
costs
Why use a Blockchain
Trust and Traceability:
• Blockchain enables “automated trust”, sharing sensitive data and seeing who has
viewed, and who has modified the data. This enables full traceability.

Contract management:
• Blockchain smart contracts enable automation of record keeping and record sharing.
• This means no more hundreds of pages of manual contracts, no more reconciliation of
invoices/goods receivables, no more manual signatures.

Data sharing:
• Data stored on a Blockchain cannot be tampered or changed.
• Digital certificates, digital signatures, tracing the history of a product before purchasing –
all of this can be done on a Blockchain based platform.

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