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Blockchain Specialist Program

The document discusses the evolution of the internet and blockchain technology. It describes how blockchain works as a decentralized digital ledger that can record transactions across many different types of records and industries. The key benefits of blockchain include that it allows for decentralized control, removes the need to trust middlemen, provides transparency, and makes records immutable. Industries that could be disrupted by blockchain include banking, supply chain management, healthcare, and others.

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MuhammadRizwan
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88 views

Blockchain Specialist Program

The document discusses the evolution of the internet and blockchain technology. It describes how blockchain works as a decentralized digital ledger that can record transactions across many different types of records and industries. The key benefits of blockchain include that it allows for decentralized control, removes the need to trust middlemen, provides transparency, and makes records immutable. Industries that could be disrupted by blockchain include banking, supply chain management, healthcare, and others.

Uploaded by

MuhammadRizwan
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Blockchain Specialist Program

Zeeshan Hanif
Qasim Shabbir
Hammad Ahmed
Blockchain and Cryptocurrencies are
shaking the system
Is Blockchain Technology the New
Internet?
Blockchain is backbone of New type of
Internet: The Decentralised Era
1. The main frames with dumb terminals (1960s)
2. The Desktop (1980s)
3. The Internet, all desktops connected (1990s)
4. Walled Gardens, all powers with big companies (Facebook, Google, Apple
and Amazon)
5. The Blockchain Era, a decentralised internet (WEB 3.0)
Web 1.0

Web 1.0 was just a set of static websites with a load of


information and no interactive content
Web 2.0

The global sharing of information spawned the age of


‘Social Media’. Youtube, Wikipedia, Flickr and Facebook
gave voices to the voiceless and a means for like-minded
communities to thrive.
Information is money

As large companies realized the value of personal


information they stockpiling the data in centralized server
and start selling browsing habits, searches and shopping
information to advertisers.
Web 3.0

Rather than concentrating the power (and data) in the


hands of huge behemoths with questionable motives, it
would be returned the rightful owners.

Decentralization was the idea; blockchain was the means.


Industries that can be Disrupted by The
Blockchain
● Banking and Payments ● Government
● Supply Chain Management ● Health Care
● IOT ● Online Music
● Insurance ● Retail
● Private Transport and Ride Sharing ● Crowdfunding
● Online Data Storage
● Charity
● Voting
Problem with Traditional System

1. Centralized Control
2. Need to Trust
3. 3rd Party/Middleman
4. No Transparency
5. Mutable
It all started with Idea: A Digital Currency

1. David Chaum first proposed the concept of e-Cash in 1982


2. David Chanm then founded a company called DigiCash.
3. It uses cryptography security and anonymity
4. Idea had same problem as with traditional currency, it
requires central clearing house or single point of trust
5. DigiCash declared bankruptcy in 1998
6. Many other tried faced the same fate
Bitcoin

1. In 2008 a white paper was published: "Bitcoin: A Peer-to-Peer Electronic Cash


System." by Satoshi Nakamoto
2. In 2009 first-ever block of bitcoin, known as the Genesis Block, was mined
3. Bitcoin uses:
a. Secure digital signatures
b. Not requiring the use of a third party
c. Proof-of-work
d. Hashing the transactions together to form a chain
4. Satoshi Nakamoto is unknown person or group of people, wrote the Bitcoin paper
5. Satoshi Disappears in December 2010
Bitcoin Properties

1. Decentralised – peer to peer ledger of balances


2. Immutable – can never be changed, transactions are permanent.
3. Fungible – each btc is equal, maintains it value (not like a banana)
4. Permissionless and without borders – anyone can participate by downloading
software.
5. Divisible – down to 8 decimal places
6. Scarcity – 21 million coins ever
7. Transferrable – can send any amount in seconds, compare to gold.
What is Blockchain

“The blockchain is an incorruptible digital ledger of economic transactions that


can be programmed to record not just financial transactions but virtually
everything of value.” – Don & Alex Tapscott, authors Blockchain Revolution
(2016).
What is Blockchain
Many similar definitions

1. Blockchain is a distributed, decentralized, public ledger.


2. In Simplest of terms, Blockchain is a time-stamped series of immutable record of
data that is managed by cluster of computers not owned by any single entity. Each
of these blocks of data (i.e. block) are secured and bound to each other using
cryptographic principles (i.e. chain).
Token

0x8aa1d85a79756bffd81e1811cff21c7dad8aee258dd1de60e116ff0fb8906738
The Core Principles of Blockchain

1. Distributed ledgers
2. Security,
3. Trustless
4. Decentralization
5. Group consensus
6. Immutability
7. Transparent
Blockchain Uses Old Technology

1. Accounting Ledger
2. Cryptography
3. Computer Network Technology/Peer-To-Peer network
Hashing, one way encryption

1. A hash function takes some input data and creates some output data.
2. To expand on this concept, a hash function takes an input of any length and
creates an output of fixed length.
3. It takes an input string and created a string of random letters and numbers
“a0680c04c4eb53884be77b4e10677f2b”.
4. This is referred to as the message digest.
5. It is also known as the digital fingerprint. This is because there is no way this digest
can represent any other string. If I try and modify this the message digest will be
completely different.
One Way Street

1. Another property of hash functions are they are one way.


2. It is really easy to calculate a message digest but given the digest, it is near
impossible to figure out in the input.
3. Again, not impossible but it will take another billion years or so.
SHA-256 Hash Calculator

http://www.xorbin.com/tools/sha256-hash-calculator
https://passwordsgenerator.net/sha256-hash-generator
Understand Block and Blockchains

https://anders.com/blockchain/
Public-Key encryption Demo

http://cobweb.cs.uga.edu/~dme/csci6300/Encryption/Cryp
to.html

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