Blockchain Concepts RISK FORUM 2017 Hash function (e.g. SHA-256)

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Presentation transcript:

Blockchain Concepts RISK FORUM 2017 Hash function (e.g. SHA-256) User A Header Block #N+1 Nonce Transactions … N+1 ? N+1 ? Node Y B#N Node X B#N Header Block #N … … Nonce Transactions … B#1 B#1 B#0 B#0 Cryptographic linkage (using a hash function…) providing security… Blockchain copy on X Blockchain copy on Y User B If user A transacts with B, how is the transaction validated ? It the P2P network open to public or not ? Yes for Bitcoin or Ethereum, no for (semi-)private/consortium chains… How is consensus achieved / which protocol ? Proof-of-Work (PoW), Proof-of-Stake (PoS),… Is data on the blockchain visible to all ? Yes for Bitcoin ; not necessarily for a private network… Do I know the user behind a public address ? Usually not, it’s pseudonymous… Different if access is permissioned… ….