1. Not about digital currencies
BlockChain
Not about digital currencies

2. Traditional Way of Transferring moneyB

3. Traditional Way of Transferring money5$ B

4. Traditional Way of Transferring money5$ B

5. Traditional Way of Transferring money
3rd Trusted party B

6. Traditional Way of Transferring money5$
3rd Trusted party B

7. Traditional Way of Transferring money5$
3rd Trusted party B

8. Traditional Way of Transferring money5$
4.9$
3rd Trusted party B

9. Traditional Way of Transferring money5$
4.9$
3rd Trusted party B
2-5 Days

10. BlockChain Aims to: Eliminate the middleman Eliminate double spending
Do it faster
More Secure
Traceable history

11. Open Ledger A B
A=5$ D C

12. Open Ledger 5$ A B
A=5$
A->B, 5$ D C

13. Open Ledger 5$ A B
A=5$
A->B, 5$
B->C, 3$ 3$ D C

14. Open Ledger 5$ A B
A=5$
A->B, 5$
B->C, 3$
C->D, 2$ 3$ D C 2$

15. A B D C Open Ledger 5$ 3$ BlockChain 2$ A=5$ A->B, 5$ B->C, 3$
C->D, 2$ 3$
BlockChain D C 2$

16. A B D C Open Ledger 5$ 3$ 5$ BlockChain 2$ A=5$ A->B, 5$
B->C, 3$
C->D, 2$ 3$ 5$
BlockChain D C 2$

17. A B D C Open Ledger 5$ 3$ 5$ BlockChain 2$ A=5$ A->B, 5$
Centralized Ledger!!!
Still a middleman 5$ A B
A=5$
A->B, 5$
B->C, 3$
C->D, 2$ 3$ 5$
BlockChain D C 2$

18. A B D C Open Ledger 5$ 3$ 5$ BlockChain 2$ A=5$ A->B, 5$
B->C, 3$
C->D, 2$ 3$ 5$
BlockChain D C 2$

19. Distributed Open Ledger5$ A B 3$ 5$ D C 2$

20. Distributed Open Ledger5$ A B
New Problems:
All copies in the network must be synchronized
All participants see the same copy of the chain 3$ D C 2$

21. Distributed Open Ledger5$ A B 3$ 1$ D C 2$

22. Distributed Open Ledger5$ A B
Unconfirmed Transaction 3$ 1$ D C 2$

23. Distributed Open Ledger
Miners 5$ A B
Taken from coindesk.com
Unconfirmed Transaction 3$ 1$ D C 2$

24. Distributed Open Ledger
Miners 5$ A B
Taken from coindesk.com
Unconfirmed Transaction 3$ 1$ D C 2$

25. Miners
Special nodes on the network that validate transactions and add it to the network Compete for confirming the transaction The first to confirm it and add it to the block gets the reward

26. Miners
Tasks: Validate by checking the blockchain if B has enough money to send to D Try to guess a key for adding the new transaction to the blockchain Once win, broadcast it to the network Other miners will stop try to validate it and try to validate a new block

27. Summary BlockChain NOT Equal Cryptocurrency
Based on Distributed Open Ledger
Miners compete each other for validate transactions and add them to the network
Miners that win the competition get a reward