BLOCKCHAIN

ANKITA BHATIYA- 06
JUI JOG- 22
PRIYADARSHANI WADMARE- 41
SANIA BHARUCHA- 46
SWARALI GUPTE- 56
 What is Blockchain?
 A Growing list of records i.e. “blocks”, which are linked
with the use of cryptography.

 Contains a cryptographic hash of the previous block, a

timestamp and transaction data.

 Managed by a `peer-to-peer’ network adhering to a protocol

for internode communication and generating new blocks.

 Invented to serve as a public ledger of the cryptocurrency

bitcoin in 2008 by Satoshi Nakamoto.
BLOCKCHAIN TECHNOLOGY
 Is a combination of proven technologies applied in a new
way.

 Enables a community of users to store entries into a record

of information and further control it through updating.

 Allows free transfer of cryptocurrency via decentralized

environment.

 Transactions are broadcast, and every node creates its own

updated version of events.
HOW DOES
BLOCKCHAIN
TECHNOLOGY WORK
 BLOCKCHAIN INFO

https://www.blockchain.com/btc/unconfirmed-transactions
What Can a Blockchain Do?
• Establish digital identity

• Serve as a system of record

• Serve as a platform

• Prove immutability
What is the Difference Between
Public, Private and Permissioned
Blockchains?
DIFFERENCE BETWEEN A
BLOCKCHAIN AND A DATABASE
BLOCKCHAIN DATABASE
Only insert operations Can perform C.R.U.D.
operations
Full replication of block Multi master
on every peer
Majority of peers agree on Distributed transactions
the outcome of the
transactions
Anybody can validate Integrity Constraints
transactions across the
network
 APPLICATIONS AND USES OF
BLOCKCHAINS TECHNOLOGY
• Money transfers : bank transactions that required longer period of time are
done in less time.

• Retail loyalty reward programs : creates a token based reward system,

stores within a blockchain that attracts customers to shop more.

• Digital IDs : face identity or fingerprint scanning is possible.

• Monitoring supply chains : RFID tags help in real time tracking which
leads to quality control

• Recordkeeping by companies.
LIMITATIONS IN
BLOCKCHAIN TECHNOLOGY
• Costly : can process only 7 transactions per second and each transaction is about
$0.20.

• Complexity : difficult to understand without glossaries and indexes.

• Security : is prone to be hacked, so security may be compromised.

• Speed : network is constantly growing, hence speed is reducing.

• Human error : error made while recording event for first time may lead to wrong
information going into the database.
THANK YOU