Presentation is loading. Please wait.

Presentation is loading. Please wait.

COMPUTER SCIENCE SEMINAR. INTRODUCTION WHAT IS BlOCKCHAIN?? A digital ledger in which transaction made are chronologically recorded without inclusion.

Similar presentations


Presentation on theme: "COMPUTER SCIENCE SEMINAR. INTRODUCTION WHAT IS BlOCKCHAIN?? A digital ledger in which transaction made are chronologically recorded without inclusion."— Presentation transcript:

1 COMPUTER SCIENCE SEMINAR

2

3 INTRODUCTION WHAT IS BlOCKCHAIN?? A digital ledger in which transaction made are chronologically recorded without inclusion of any privacy WHICH IS PROGRAMMING LANGUAGE USED ?? Solidity is a programming language that is intended for writing smart contracts for Ethereum-based blockchains. Solidity's syntax was based on JavaScript, which makes the language easier to pick up, and it also borrows concepts from C++ and Python.

4

5 HOW IT WORKS?? STEP 1: NEW TRANSACTION ARE BRODCAST TO ALL NODES

6 STEP 2: EACH NODE COLLECT NEW TRANSACTION INTO A BLOCK

7 STEP 3: EACH NODES WORKS ON FINDING DIFFICULT PROOF OF WORK FOR ITS NODE

8 STEP 4: WHEN A NODE FINDS A PROOF OF WORK IT BRODCASTS IT TO ALL NODES

9 STEP 5: NODES ACCEPT THE BLOCK ONLY IS TRANSACTION IS VALID AND NOT SPENT

10 STEP 6: NODES EXPRESS THEIR ACCEPTANCE OF BLOCK BY WORKING ON CREATING A NEXT BLOCK ON THE CHAIN USING THE HASH FOR ACCCEPTING BLOCK AS PREVIOUS HASH

11

12 HOW IS IT REVOLUTIONARY Works for all kinds of transaction Money Goods Property Avoid frauds

13 INNOVATION BOUGHT BY BLOCKCHAIN Sending Money Abroad Will Be Quicker Buying A house Will Be Easier And Faster It’ll Be Easier To Treat Health Problems You’ll Be Able To Verify That What You Buy Is Genuine

14 TYPES OF BLOCKCHAINS Consortium blockchains:-can be accessed by many companies Private blockchain:-has public restrictions Public blockchains:-has no public restrictions

15

16 ADVANTAGES/DISADVANTAGE OF BLOCKCHAIN ADVANTAGES Greater transparency Enhanced security Faster transactions. Increased efficiency and speed Lower transaction costs. It is reliable DISADVANTAGES Human error. Slow transaction times. High cost for access. High energy consumption. Irreversible transaction. Offers variety of language.

17 APPLICATIONS OF BLOCKCHAIN 1.Greatly enhances food safety. 2.Ensures fresh food. 3.Stops food fraud. 4.Cyber security: 5.Trustless system. 6.Immutability. 7.Digital voting. 8.Medical record keeping. 9.Weapons tracking. 10.Tracking prescription drugs. 11.Copyright and royalty protection.

18 WHERE ARE BLOCKCHAIN APPLIED United Arab Emirates. China. Estonia. US.

19 CONCLUSION There is no need to panic about implementing block chain technology, but now its time to begin understanding what block chain technology does well and what it doesn’t do well. For some industries, such as financial services and the supply chain industry, block chain based solutions will likely appear sooner than many other industries. For block chain technology to be fully utilized it is necessary to educate people on the nature of technology. Developers and companies working on block chain solutions need to actively engage policy makers in order to ensure proper regulation and useful legislation.

20

21


Download ppt "COMPUTER SCIENCE SEMINAR. INTRODUCTION WHAT IS BlOCKCHAIN?? A digital ledger in which transaction made are chronologically recorded without inclusion."

Similar presentations


Ads by Google