BLOCKCHAIN

PRESENTED BY:- MUKESH AHIRE

RAJU SWAIN
VIKASH KUMAR
ASHISH RANJAN
AMISHA JAGDALA
What is Technology Trends ?

 Technology is the collection of techniques, skills, methods, and

processes used in the production of goods or services or in the
accomplishment of objectives, such as scientific investigation.
 Technology can be the knowledge of techniques, processes, and the
like, or it can be embedded in machines to allow for operation without
detailed knowledge of their working Systems
 e. g. machines, applying technology by taking an input, changing it
according to the system's use, and then producing an outcome are
referred to as technology systems or technological systems.
definition of Blockchain

 A blockchain, originally block chain, is a growing list of records,

called blocks, which are linked using cryptography. Each block contains
a cryptographic hash of the previous block,a timestamp, and
transaction data (generally represented as a merkle tree root hash).
 By design, a blockchain is resistant to modification of the data. It is "an
open, distributed ledger that can record transactions between two
parties efficiently and in a verifiable and permanent way".
 For use as a distributed ledger, a blockchain is typically managed by a
peer-to-peer network collectively adhering to a protocol for inter-node
communication and validating new blocks.
What is Blockchain?

 Blockchain ≠ Bitcoin
 Blockchain is the technology behind Bitcoin.
 Bitcoin is the digital token, and blockchain is the ledger that keeps track
of who owns the digital tokens.
 You can’t have Bitcoin without blockchain, but you can have blockchain
without Bitcoin
Advantages of Blockchain

 Greater transparency : Transaction histories are becoming more

transparent through the use of blockchain technology. Because
blockchain is a type of distributed ledger, all network participants share
the same documentation as opposed to individual copies.
 Enhanced security :- There are several ways blockchain is more secure
than other record-keeping systems. Transactions must be agreed upon
before they are recorded. After a transaction is approved, it is
encrypted and linked to the previous transaction.
 Improved traceability :- If your company deals with products that are
traded through a complex supply chain, you’re familiar with how hard it
can be to trace an item back to its origin. 
Advantages of Blockchain

 Increased efficiency and speed :- When you use traditional, paper-

heavy processes, trading anything is a time-consuming process that is
prone to human error and often requires third-party mediation. 
  Reduced costs :- For most businesses, reducing costs is a priority. With
blockchain, you don’t need as many third parties or middlemen to make
guarantees because it doesn’t matter if you can trust your trading
partner.
Disadvantages of Blockchain

 Difficulties With Updating And Eliminating Errors. The Application Must Be

Updated On Each Node Of The Peer-To-Peer Network Or Forked If Parts Of
Nodes Don’t Accept Amendments.
 Robustness Of Network For Dedicated Purposes. Any Application Has Some
Business Logic Behind It. In General, This Logic Defines How New Application
Must Work In Terms Of Business Requirements. Blockchain, By Nature,
Employs Strict Logic That Doesn’t Allow Redesign Without Loss Of Benefits,
Which Leads To The Need For Logical Business Changes To Be Acceptable To
The Blockchain Solution.
 Sometimes, Applications Need To Verify The Identity Of The User. Since There
Is No Central Authority That Assures The Identity Of The User, The
Development Of Certain Decentralized Apps Can Become A Serious Problem.
Disadvantages of Blockchain

 Difficulty Of Development. It Is Necessary To Apply Very Complex

Protocols For Achieving Consensus And Allow For Scaling From The Very
Beginning. One Cannot Hastily Implement An Idea, Hoping Sometime
Later To Add New Features And Expand The Application Without Forking
Or Redeployment Of The Network.
 Normally, Applications Do Not Need Third-Party APIs To Store Or
Retrieve Data. Your Decentralized Application (Dapp) Should Not
Depend Upon The API Of Centralized Applications, But They Can
Depend On Other Dapps. In Theory, This Sounds Good, But It May
Cause Difficulties In Practice.
Structure of
Blockchain
Uses of Blockchain

 Blockchain technology can be integrated into multiple areas:

1. Cryptocurrencies : Most cryptocurrencies use blockchain
technology to record transactions. For example, the bitcoin network and
Ethereum network are both based on blockchain.
2. Smart contracts : Blockchain-based smart contracts are proposed
contracts that could be partially or fully executed or enforced without
human interaction
3. Financial Services : Major portions of the financial industry are
implementing distributed ledgers for use in banking. Banks are interested
in this technology because it has potential to speed up back office
settlement systems.
Some other uses of Blockchain

 Some video games are based on blockchain technology. The first such
game, Huntercoin, was released in February, 2014.
 Blockchain technology can be used to create a permanent, public,
transparent ledger system for compiling data on sales, tracking digital
use and payments to content creators, such as wireless users or
musicians
Thank
yu