Life skill presentation BITCOIN Block Chain Management Submitted by, Roshan Jose S3 EC Roll No. : 53

DIGITAL CURRENCY, CREATED AND HELD ELECTRONICALLY

Who?  SATOSHI NAKAMOTO

Features No one controls it. aren’t printed lots of people running computers all around the world, using software that solves mathematical problems

What makes it different from normal currencies? decentralization

Who prints it? One No

But Bitcoin Isn’t Based On Gold; It’s Based On Mathematics.

characteristics? It's Decentralized It's Easy To Set Up It's Anonymous It's Completely Transparent Transaction Fees Are Miniscule It’s Fast It’s Non-repudiable

Why Use Bitcoin? It’s fast Its cheap You can create your own money You own it You don’t need to trust anyone else It’s as private as you want it to be It isn’t inflationary

Block Chain Management Blockchain is a technology for a new generation of transactional applications that establishes trust, accountability and transparency while streamlining business processes. It is a design pattern made famous by bitcoin

Parts of Transaction Balances - block formation Transactions - signature Broadcasting Processing - mining- cryptographic hash Conformation- validation Updation Payment Reward

ADVANTAGES OF BLOCKCHAIN Disintermediation & trustless exchange Two parties are able to make an exchange without the oversight or intermediation of a third party, strongly reducing or even eliminating counterparty risk. Empowered users Users are in control of all their information and transactions. High quality data Blockchain data is complete, consistent, timely, accurate,widely available.

How is it safe?? Thousands of high speed computers are solving cryptographic problems to update blocks. For updating the block by hacking all the previous blocks have to be altered. The block updation is adopted by all members and any discrepancy is voted upon. Its impossible to get majority by a hacker over thousands of miners.