Vishram Singh - Textbook of Anatomy Upper Limb and Thorax.. Volume 1 (1).pdf
Blockchain overview
1. National level Webinar
(21st – 24th June 2020)
PG & Research Department of Computer Applications organized
IoT – Applications and Machine Learning
O R G A N I Z I N G S E C R E T A R Y
D R . R . G U N A V A T H I ,
H E A D & A S S O C I A T E P R O F E S S O R ,
P G & R E S E A R C H D E P A R T M E N T O F C O M P U T E R A P P L I C A T I O N S
3. AGENDA
Current banking system
Issues in trusted third party
Blockchain and its properties
Cryptocurrencies
Cryptographic basic involved in blockchain
Blockchain working
Types of blockchain
Application of blockchain
Benefits and unknown
4. Banking System
Transaction in a bank such as person A sends an amount to person B
bank checks whether person A has balance > transaction amount
Balance>transaction amount
Yes Balance=balance-transaction amount
No transaction Invalid
bank
5. Trusted third party
We can see the bank transaction details online or in a monthly statement
All the transactions are stored in a bank ledger, bank is maintaining all the transaction in a ledger
what will happen if the bank goes for a invalid transaction
you did not authenticate the transaction
your balance was not sufficient but transaction was done
Question: whether bank ledger is a tamper proof?
Answer: No
6. BANK FRAUDS
You never wrote a check but it was used for someone to pay
You signed a check for x amount but the amount field was modified
What will happen
If someone got your password
Redirected OTP to another sim
bank employee done something for a fraud transaction
if your monthly statement not balanced
How do we argue to the bank?
Whether bank maintaining 100% of integrity?
Is the bank transparent to us?
7. Third party issues
Supply chain is a process from manufacturing to delivery of goods
If we find a defect in any goods we cant able to find where that occurs.
Each and every person in various levels of supplychain management will blame each other
How do we find a truth?
What will happen if the land registering authority tampering the data of a land registration that
was done by you, but changed to someone?
How do you manage if the election commission or any person in election commission registering
your vote by someone?
Is all these thing transparent to us?
10. BITCOINS
Bitcoin is a cryptocurrency created in 2009. Marketplaces called “bitcoin exchanges” allow
people to buy or sell bitcoins using different currencies.
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi
Nakamoto.
Transactions are made with no middle men – meaning, no banks!
Bitcoin can be used to book hotels on Expedia, shop for furniture on Overstock and buy Xbox
games.
The price of bitcoin skyrocketed into the thousands in 2017.
11.
12. Buying bitcoins
Buy on an Exchange
Many marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different
currencies. Coinbase is a leading exchange, along with Bitstamp and Bitfinex. But security can be a
concern: bitcoins worth tens of millions of dollars were stolen from Bitfinex when it was hacked in
2016.
Transfers
People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending
cash digitally.
Mining
People compete to “mine” bitcoins using computers to solve complex math puzzles. This is how
bitcoins are created. Currently, a winner is rewarded with 12.5 bitcoins roughly every 10 minutes.
13. Bitcoin wallet
Bitcoin wallet
Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer.
The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for
goods or save their money.
14. The anonymity of bitcoin
Though each bitcoin transaction is recorded in a public log, names of buyers and sellers are
never revealed – only their wallet IDs.
While that keeps bitcoin users’ transactions private, it also lets them buy or sell anything
without easily tracing it back to them.
That’s why it has become the currency of choice for people online buying drugs or other illicit
activities.
15. Why bitcoin?
Bitcoins can be used to buy merchandise anonymously.
In addition, international payments are easy and cheap because bitcoins are not tied to any
country or subject to regulation.
Small businesses may like them because there are no credit card fees.
Some people just buy bitcoins as an investment, hoping that they’ll go up in value.
28. Types of blockchain
Public Blockchain Private Blockchain
Anyone can join without permission Need permission with proof
Everyone can run the node Everyone can’t run the node
Everyone can have access to audit, review Can’t audit blockchain
All are eligible to make transactions Can’t Make transactions
The process is slow due to more
transactions
The transactions are fast and easy
Can download the code and run on local
devices
Can’t download the code
30. Application of Blockchain
Payment processing and money transfers
Monitor supply chains
Digital voting
Real estate, land, and auto title transfers
Food safety
Medical recordkeeping
Weapons tracking
Managing Internet of Things networks
