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Blockchain Tech by Iqbal Matheen.pptx

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Blockchain Tech by Iqbal Matheen.pptx

  1. 1. 1 ANURAG COLLEGE OF ENGINEERING Aushapur(V), Ghatkesar(M), Medchal(D),T.S DEPARTMENT OF COMPUTER SCIENCE AND ENGINEERING BLOCKCHAIN TECHNOLOGY Under the guidance of :- Mrs. M. Prasanna Assistant Professor Presented by: MD. IQBAL MATHEEN 20PQ5A0505
  2. 2. BLOCKCHAIN TECHNOLOGY MD Iqbal Matheen
  3. 3. CONTENTS BLOCKCHAIN TECHNOLOGY 3 Introduction Why Blockchain? Cryptography in Blockchain Nodes Hashing Merkle Tree Blockchain Architecture Types of Blockchain Proof of Work Advantages Disadvantages Applications Conclusion Future Scope Bibliography
  4. 4. INTRODUCTIO N • If you have heard about Bitcoins, you might have heard about BLOCKCHAIN as well. • The work on bitcoin started on 2008 by Satoshi Nakamoto has created Bitcoin using BLOCKCHAIN, it is a pear to pear network. • There is no central system ie, no bank in between, everything distributed. • A BLOCKCHAIN is a distributed ledger technology (DTL) that consists of growing lists of records called as BLOCKS, they are securely linked together using cryptography. • Each block contains a cryptography hash of previous block. • Since each block contains information about previous block they effectively forms a chain called as 'BLOCKCHAIN' • Consequently, blockchain transactions are irreversible once they recorded cannot be altered.
  5. 5. WHY BLOCKCHAIN? Why it is famous ?
  6. 6. WHY BLOCKCHAIN ? • Decentralized in design • Provides trust • Immutability • Secure BLOCKCHAIN TECHNOLOGY 6
  7. 7. CRYPTOGRAPHY IN BLOCKCHAIN SECURITY & PRIVACY BLOCKCHAIN TECHNOLOGY 7
  8. 8. SECURITY & PRIVACY • Since BLOCKCHAIN is a Peer-to-Peer Network, we have four big concerns: • Confidentiality • Integrity • Non repudiation • Authentication BLOCKCHAIN TECHNOLOGY 8
  9. 9. CONFIDENTIALITY • To achieve confidentiality we cryptography, we use encryption and decryption. • Encryption and Decryption is done with the help of a KEY. • Symmetric Key Cryptography, Asymmetric Key Cryptography. • In Symmetric Key Cryptography there is only one key for both the encryption and decryption. • In Asymmetric Key Cryptography there are two keys (Private Key & Public key) for the encryption and decryption.
  10. 10. AUTHENTICATION • To achieve the authentication we had a concept called DIGITAL SIGNATURE. • For example A is sending a message to B, A encrypts the message using its private key and then B decrypts the message using the A's public key. • Here A will have a digital signature with the A's private key, that is how B will knows it was sent by A and decrypts using A's public key. But we lose confidentiality for this we use double encryption.
  11. 11. NODES • There are two types of Nodes they are: • Full Node • Partial Node • The full node will store the entire BLOCKCHAIN & verifies the blocks then it stores the blocks. It verifies the transaction. • Partial node will have some part of a BLOCKCHAIN since blockchain is a very huge data. It is only for wallet purpose. BLOCKCHAIN TECHNOLOGY 11
  12. 12. HASHING • Hashing is a technique that it takes the input string of any length and converts it to a fixed length output string. • The fixed length output string is known as hash value. • For hashing it uses some algorithms like MD(MD2 MD3... MD6), SHA1, SHA2, SHA3. • If we change small value in the input string, it changes the whole hash value. • We cannot get the actual input string using the hash value. Since it loses the data. • Hashing is not an encryption. • For two different inputs it will give two different hash values. If it gives same hash value, it is called as Collision. BLOCKCHAIN TECHNOLOGY 12
  13. 13. MERKLE TREE • In blockchain every block is connected with each other with the help of hash values.​ • Every block contains no of transactions, contains no of hashes.​ • To find a single hash in the block it is difficult to search, so blockchain implements MERKLE TREE. • It contains root, branches, leaf nodes. BLOCKCHAIN TECHNOLOGY
  14. 14. BLOCKCHAIN ARCHITECTURE BLOCKCHAIN TECHNOLOGY • Nodes within P2P network • Properties of block & genesis block • Transactions within the ledger • The validation process - mining • The “consensus” within a blockchain architecture • Proof-of-work 14
  15. 15. TYPES OF BLOCKCHAI N BLOCKCHAIN TECHNOLOGY 15 Public Blockchain Private Blockchain Federated Blockchain
  16. 16. PROOF OF WORK • Proof of Work(POW) is the original consensus algorithm in a blockchain network. • The algorithm is used to confirm the transaction and creates a new block to the chain. • In this algorithm, minors (a group of people) compete against each other to complete the transaction on the network. • The process of competing against each other is called mining. • As soon as miners successfully created a valid block, he gets rewarded. • The most famous application of Proof of Work(PoW) is Bitcoin. 16 BLOCKCHAIN TECHNOLOGY
  17. 17. ADVANTAGES OF BLOCKCHAIN BLOCKCHAIN TECHNOLOGY 17 Open Verifiable Permanent Tighter Security Immutability Efficiency Cost Reduction
  18. 18. DISADVANTAGES OF BLOCKCHAIN BLOCKCHAIN TECHNOLOGY 18 Complex Slow Wastage of Resources Security/Privacy 51% Attack
  19. 19. APPLICATIONS OF BLOCKCHAIN • Cryptocurrency • Asset Management • Cross – Border Payments • Healthcare • Online Identity Verification • Internet of Things • Copyright and Royalities BLOCKCHAIN TECHNOLOGY 19
  20. 20. CONCLUSION • In this short tutorial you were introduced to several concepts of Blockchain. • The Bitcoin is the first successful implementation of blockchain. • Today, the world has found applications of blockchain technology in several industries, where the trust without the involvement of a centralized authority is desired. • So welcome to the world of Blockchain. BLOCKCHAIN TECHNOLOGY 20
  21. 21. FUTURE SCOPE • Blockchain technology gave us Bitcoin, the ultimate cryptocurrency. Soon, the technological innovators of the world concentrated their energies on this breakthrough and changed our understanding of currency and value transactions. • Today, there are tens of thousands of digital currencies and tokens that are challenging the legacy financial system with decentralization. • It will be a long-standing debate whether cryptocurrencies will replace fiat currencies or not, but will blockchain technology shape the future of our industries? The answer is a resounding yes. BLOCKCHAIN TECHNOLOGY 21
  22. 22. BIBLIOGRAPHY • https://www.geeksforgeeks.org /blockchain-technology- introduction/ • https://www.javatpoint.com/blo ckchain-tutorial • https://www.youtube.com/watc h?v=2uYuWiICCM0&list=PLsy eobzWxl7oY6tZmnZ5S7yTDxy u4zDW- BLOCKCHAIN TE CHNOLOGY 22
  23. 23. QUERIES ? BLOCKCHAIN TECHNOLOGY 23
  24. 24. THANK YOU BLOCKCHAIN TECHNOLOGY 24

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