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27 views

$R2AVHUD

Uploaded by

eagles
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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BLOCKCHAIN

TECHONOLOGY
Presernted by:
K. Chencharao
D.V.N.A Sai Yaswanth project guides:
P Syamson Dr. S.Rajaanand
K.Naveen A. Amruthavalli
WHAT IS BLOCKCHAIN?
• A blockchain is a decentralized ledger of all transactions across a peer-to-
peer network. Using this technology, participants can confirm transactions
without a need for a central clearing authority. Potential applications can
include fund transfers, settling trades, voting, and many other issues.
• It is having some types
• Cryptocurrency
• Consensus mechanisms
WHAT IS CRYPTOCURRENCY
• Cryptocurrency is an internet-based medium of exchange which uses
cryptographical functions to conduct financial transactions..
• The most important feature of a cryptocurrency is that it is not controlled by
any central authority: the decentralized nature of the blockchain makes
cryptocurrencies theoretically immune to the old ways of government
control and interference.
• Cryptocurrencies can be sent directly between two parties via the use of
private and public keys. These transfers can be done with minimal
processing fees, allowing users to avoid the steep fees charged by
traditional financial institutions.
WHAT IS CONSENSUS MECHANISM
OF BLOCKCHAIN
• Protocols that make sure all nodes are synchronised with each other and
agree on which transactions are legitimate and are added to the
blockchain.
• crucial for a blockchain in order to function correctly.
• There are having most popular
• Proof Of Work (POW)
• Proof Of Stake (POS)
• Delegated Proof Of Stake (DPOS)
PROOF OF WORK(POW)
• This is the first blockchain consensus mechanism and was first used by Bitcoin.
• Proof Of Work process is known as mining and the nodes are known as
miners.
• Miners solve complex mathematical puzzles which require a lot
computational power.
• They are asymmetric, meaning it takes a lot of time to find the answer, yet
it’s easy to verify if an answer is correct.
• There is a major drawback to this consensus mechanism though. Proof Of
Work uses a lot of resources and is said to be unsustainable in the future,
which is why some blockchains are moving to different consensus
mechanism.
PROOF OF STAKE(POS)
• The more environmentally friendly brother of the Proof Of Work protocol.
Proof Of Stake makes use of the premise that those who own most coins in a
network have a vested interested in keeping the network maintained and
the value of it’s coins high.
• In a system that uses Proof Of Stake a randomized process is used to
determine who gets to produce the next block
• Proof Of Stake is not only much more energy efficient than the Proof Of Work
system, it also has another major distinction.
DELEGATED PROOF OF STAKE
• It is a very fast consensus mechanism and most known for it’s
implementation in EOS and is often referred to as a digital democracy,
thanks to it’s stake-weighted voting system.
• A delegate is a person or organisation that wants to produce blocks on the
network.
WHY BLOCKCHAIN
• It is more secure for storing financial information across a network of
computers
• The task of compromising data becomes much more difficult for hackers. ...
The high level of security afforded by distributed ledger system makes them
particularly attractive to financial institutions, but bitcoin itself offers few
benefits to banks.
THANK YOU SIR

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