3. Definition
A blockchain is an
immutable distributed
ledger that contains
cryptographically hashed
blocks of data stored in
chronological order and
used to record transactions
between parties
4. • Satoshi Nakamoto
• 2008 White Paper
• P2P digital currency
transactions
• Vitalik Buterin
• 2015 Launch
• Distributed Computing
• Smart Contract OS
• Linux Foundation
• 2017 Launch
• 5 Frameworks
• Enterprise Focus
History
Bitcoin – v1.0 Ethereum – v2.0 Hyperledger – v3.0
5. • Replication at every node
• Data stored is immutable
• Chronological by hashes
Elements
Cryptography
Smart
Contracts
Consensus
Distributed
Ledger
• Nodes validate transactions
• Custom methods to fit need
• Trustless framework
• SHA256
• Public and Private Keys
• Elliptic Curve (ECC)
• Embedded in ledger
• Process with conditions
• Reduce redundancy
7. 01
02 04
03 05
06
07
08
Verify
Transactions
Group Valid Transactions
Into Candidate Block
Insert Hash From
Most Recent Block
Solve The
Proof-Of-Work
Attach Candidate Block
To Local Blockchain
Propagate Solution
To The Network
Await Solution Verification
By Other Nodes
Get
Reward
Start Again
Mining Demystified
8. Benefit - Elements
Element Benefit
Cryptography Secure
Distributed Ledger Resilient
Consensus Robust
Smart Contracts Automation