Blockchain
Blockchain is not bitcoin
Cryptocurrency
What is blockchain
What is a block
Smart contracts
Types of blockchain
Nodes
Advantages
Disadvantages
Implementations
Decentralization
Utkarsh Mehta
2. Blockchain is not Bitcoin
• Bitcoin is an implementation of blockchain.
• Blockchain is the underlying technology that drives
Bitcoin, Ethereum and other cryptocurrencies.
3. What is Blockchain?
• A blockchain, originally block-chain is a growing list
of records, called blocks, which are linked using
cryptography.
• This linking makes the blockchain immutable.
• Demo
4. What is a block?
• A block is a container data structure. In the Bitcoin
world, a block contains more than 500 transactions
on average.
• A block is composed of a header and a long list of
transactions.
• In case of Ethereum, we can store some code on the
block & execute parts of code the way we want. This
piece of code is nothing but a Smart Contract.
5. Smart Contracts
• Smart contracts help you exchange money,
property, shares, or anything of value in a
transparent, conflict-free way while avoiding
the services of a middleman.
• The best way to describe smart contracts is to
compare the technology to a vending
machine.
• The most important feature of a smart
contract is trust-less transanctions.
10. Advantages
1. Transparency & immutability
2. Reduced transaction costs
3. Faster transaction settlements
4. Decentralization
5. Trust-less transactions
6. Removes the need of middlemen
7. Accurate Audit Trail
8. Peer-to-peer global transactions
9. Smart contracts
11. Disadvantages
• Technology is in early stage.
• There are scaling issues.
• Transaction time can be improved.
• Large energy consumption.
• Adoption.
• Legal & regulatory issues.
