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Blockchain Training Session2

blockchain technology

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7 views

Blockchain Training Session2

blockchain technology

Uploaded by

javaboys002
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Blockchain Technology

Blockchain based trusted data sharing among


trusted stakeholders
Ledger Book
Ledgers are Important •

Ledger [1] is THE system of record for a


business – records asset transfer between
participants.

• Business will have multiple ledgers for


multiple business networks in which they
participate
Transferring Assets, building Value
As -IS Business Systems
Blockchain/DLT - Why ?
Blockchain/DLT - Working definition ?

Shared & immutable record of digital events that can


offer an acceptable common version of truth for the
participating entities.
Blockchain/DLT - Techncial definition ?
It’s a database.
It’s a shared, distributed database.
It’s a shared, distributed, append only database
It’s a shared, distributed cryptographically secured append only,
database.
It’s a shared, distributed cryptographically secured append only,
database, with program logic called smart contracts.
Blockchain/DLT - Layman definition
Blockchain technology adoption and maturity

Ref: Mastering-blockchain,Imran Bashir


The architectural view of a generic blockchain
Blockchain Technology Stack
Blockchain Business Models

Joint
Founder Led Consortium Business
Venture
Network Network Ecosystem
Network
Components in a Blockchain solution

Ledger …
List of transactions maintained by peers
Smart f(abc);
Contract Software running on peer, updates the world state
Peer
Network Network which reaches consensus to add blocks
E T
Membership
Authenticates and manages identities on network
Events ! Emits notifications of operations on network
Systems
i
Management Enables us to create/monitor blockchain components
Wallet
Securely manages a user’s credentials
Systems
Integration Integrate blockchain with eternal systems

13
Smart Contracts

Smart Contracts contain the business logic deployed to peers

• Interact with the world state through the Fabric shim interface
• Language support for:
○ Golang
○ Node.js
○ Java

14
Public vs. private blockchains
PUBLIC (PERMISSIONLESS) PRIVATE (PERMISSIONED

Access to ledger Open read/write Permissioned read/write

Identity Anonymous Known identities

Security and trust Open network (trust free) Controlled network (trusted)

Transaction speed Slower Faster

Consensus POW/POS Proprietary or modular

Open source Yes Depends on blockchain

Code upkeep Public Consortium or managed

Examples Ethereum, Multichain R3 Corda, HLF


Comparing enterprise blockchains
ETHEREUM R3 CORDA QUORUM HYPERLEDGE RIPPLE
R

Industry Cross-industry Financials Cross-industry Cross-industr Financial


y

Ledger Permissionless Permissioned Permissioned Permissioned Permissioned

Consensus Proof of work Pluggable Majority voting Pluggable Probabilistic


voting

Smart contract Yes Yes Yes Yes No


support

Cryptocurrency Ether (Eth) N/A N/A N/A Ripple (XRP)


Private Blockchain Business Models

Joint
Founder Led Consortium Business
Venture
Network Network Ecosystem
Network
Do You Need a Blockchain?

How to critically analyze whether integrating a


blockchain into your project/company is
indeed the appropriate technical solution ?
Do You Need a Blockchain?

● IBM model
● Birch-Brown-Parulava model
● Wüst-Gervais model
BLOCKCHAIN
DECISION
TREE
Digital Currency
In the beginning, there was money!

● Medium of exchange
● Store value
● Unit of account
Types of Money
Forms of Money

● Fiat Money
○ No Intrinsic Value
○ Value Backed by Government
○ Value linked to Trust
○ Notes and coins
How Fiat money is created?

● Central Bank Money


○ Currency + coins + commercial banks reserves
○ Only exchanged between banks on the interbank market.

● Commercial Bank Money


○ Book Money ( Non cash) that is created through the fractional reserve
banking.
○ Fractional reserve banking is a banking system in which banks only hold a
fraction of the money their customers deposit as reserves. This allows Banks
to use the rest of it to make loans and thereby essentially create new
money.
A Taxonomy of Money
A Taxonomy of Money - Crypto Currencies
Growing number of Digital Currency Models

● Cryptocurrencies

● Stablecoins

● Corporate Currencies.

● CBDC
To be Continued
● Crypto Currencies
● Wallet & Crypto Exchanges
● Demo

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