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A Basic Blockchain Technology PPT Presentation You Can Use

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Slide Overview

Slide 1: cover slide.

What is Blockchain technology? What is Bitcoin? How does it work and how can it be used?

Slide 2: The History of Blockchain Part 1

A short history of Bitcoin.

• 2008: The first description of Bitcoin was published in 2008 by an individual or a group under the pseudonym “Satoshi Nakamoto” in a now very famous white paper.
• 2009: The Bitcoin Network goes live and the first Bitcoins are mined.
• 2010: The first cryptocurrency stock exchange for trading Bitcoin is launched.
• 2011: One Bitcoin equals one USD.

Slide 3: The History of Blockchain Part 2

• 2013: One Bitcoin now equals 100 USD.
• 2014: Microsoft starts accepting Bitcoin as payments.
• 2017: One Bitcoin equals 10'000 USD.

Slide 4: Bitcoin is not Blockchain

Bitcoin does not equal Blockchain.

• Bitcoin is a currency and a system that uses a blockchain as underlying datastructure, which can be used for many things, including cryptocurrencies.
• Blockchain is the underlying data structure.

Slide 5: What is a Blockchain?

• A blockchain is a datastructure, which is a growing list of data blocks.
• The data blocks are linked together, such that old blocks cannot be removed or altered.

Slide 6: Bitcoin Ecosystem Part 1

• The Bitcoin ecosystem contains a public network in which anyone, including a malicious participant, can participate without restriction. The amazing breakthrough that came with Bitcoin is that although malicious participants can participate, the system works without a regulator.

Slide 7: Bitcoin Ecosystem Part 2

Slide 8: cutting the middleman, slide 9: building consensus, slide 10: creating witnesses, slide 11: key features.

A public blockchain has some characteristic features:

• Write-only, immutable, transparent data storage.
• Decentralized, no need for intermediaries.
• Consistent state across all participants.
• Resistant against malicious participants.
• Open to everyone.

For converting and preserving blockchain-related documents, consider using the best PPT to PDF converter to ensure the security and accessibility of your information, as demonstrated by our use of a public blockchain for creating secure timestamps.

Slide 12: Challenges

Although Blockchain technology has a strong disruptive power and can change many areas of our daily lives, there are still some challenges that need to be addressed.

• The high energy consumption - Bitcoin uses a lot of energy.
• The scalablity issue - Bitcoin supports far less transactions per second than e.g. VISA.
• It opens up possibilities for money laundering - Some blockchains as Monero are anonymous.
• The question remains as to how far we want to bypass the middleman. Often he can also protect us, e.g. a bank can protact us to the extend that we do not transfer the money to the wrong person.

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Please note that the Content may have been generated with the Help of AI. The editorial content of OriginStamp AG does not constitute a recommendation for investment or purchase advice. In principle, an investment can also lead to a total loss. Therefore, please seek advice before making an investment decision.

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• Prof. Gary Gensler

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• Sloan School of Management

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• Algorithms and Data Structures
• Computer Networks
• Cryptography

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About Blockchain Fundamentals

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Introduction to Blockchain

• by Refresh Science
• July 22, 2020 January 6, 2022

Blockchain is a distributed database but its stored devices are not connected with a shared server. In block chain list of records are stored as blocks and they are linked by using cryptography.

Hence we can say that blockchain is a digital record and are used for recording transactions made with crypto currencies such as bitcoins .

If we add a new block it can be linked with the previous block with the help of cryptographic block generated from the previous block. By doing so the block is permanently recorded and it is not broken.

In blockchain previous transactions alteration is very difficult because all subsequent blocks also needs to be altered. We can say that block chain is a purest peer to peer database that is immutable.

Definition of Blockchain

It is an open distributed ledger that record transactions between two persons efficiently and in a verifiable and permanent way. Each transaction is secured with a digital signature that proves its authenticity. Every block contains a cryptographic hash of the previous block, a time stamp and transaction information.

Download Blockchain PowerPoint Presentation:

Technology used in blockchain.

Blockchain is a combination of multiple technologies:

Cryptographic Keys:

Cryptographic keys are most important for sending and receiving data. In process a private key and a public address is used. While sending data private key is used to sign it and the end user verify it by using the public key. In block chain we use asymmetric cryptograpgy like ECC.

Network Protocol:

We can choose the network protocol as per our use. To form a peer to peer network two or more electronic devices are linked and resources are shared. A peer is called a node on a network. Peer to peer network is a crucial part of secure blockchain processing.

Distributed Ledger Technology:

A ledger is a collection of shared, replicated and synchronized data. Every data is geographically spread over various computing devices. Any transaction approval and permission in blockchain is handled by distributed networks.

Hashing is converting a data with variable length to a fixed length. It is an one way process. It acts as an verification of a transaction.

Purpose of Blockchain

• Block chain uses online ledger which is very secure.
• There is no third party interference.
• It used distributed ledger which is very transparent.
• It is a digital world offering many new tools and there are many centralized administrators.
• Since there is no third party guarantee cost is very low.

Blockchain in Cryptocurrency

The term blockchain is often used to refer to cryptocurrency. Cryptocurrency is a medium of exchange such as US dollars. It is just an application in the form of e-currency using block chain. It is not governed by any financial institution.

The main difference between blockchain and cryptocurrency is that, cryptocurrency is created and held electronically in forms such as virtual wallet.

It is decentralised and it is not governed by anyone whereas blockchain is an advanced record and it has all information related to cryptocurrency exchanges over a shared system.

Blockchain in cryptocurrency

You might think of Bitcoin and blockchain as two halves of a whole, but in reality, they are very distinct commodities. Olawale Daniel

Blockchain in Insurance

According to a recent survey more than 80% of insurance companies have adopted or planning to implement blockchain technology. The practical application in insurance technology is, with the help of blockchain medical records are encrypted and shared between hospitals and insurers. This helps in cutting duplicated records and lengthy claim processing.

Blockchain also helps in selling and servicing insurance better, faster and cheaper by improving fraud prevention, claim management, health insurance and reinsurance. It also helps to lower the price and provide better experience for customers.

Blockchain Examples

Bitcoins and Cryptocurrency are the widely used blockchain technology.

There are many more examples using blockchain technology. We can say blockchain is revolutionizing in most of the industries.

• Based on blockchain cross gaming video games are developed for example B2Expand.
• Social Engagements such as match pool uses this technique.
• Retail products can be purchased and if there is any malfunction blockchain helps to access information regarding the product.
• Blockpoint simplifies the payment system and allows Mobile wallet, gift card and other point of scale functionality.
• Food industry Network from farmers to groceries is very complex and blockchain makes it easier by tracking down food borne illness challenging.
• Real estates also uses blockchain technology by allowing anyone anywhere in the country to invest in real estate.

Advantages and Disadvantages of Blockchain

Advantages:

• Greater Transparency
• Highly secure
• Easily traceable
• High efficiency and speed
• Zero percentage of fraud
• Extremely volatile

Disadvantages:

• More power consumption
• Can be a regulatory problem for financial institutions

What is blockchain?

Blockchain is one of the major tech stories of the past decade. But beneath the surface chatter there’s not always a deep, clear understanding of what blockchain is, how it works, or what it’s for. Despite its reputation for impenetrability, the basic idea behind blockchain is pretty simple. And it has major potential to change industries from the bottom up .

Get to know and directly engage with McKinsey’s senior experts on blockchain

Brant Carson is a senior partner in McKinsey’s Vancouver office, and Marie-Claude Nadeau  is a senior partner in the Bay Area office, where Michael Chui  is a McKinsey Global Institute partner.

Put simply, blockchain is a technology that enables the secure sharing of information. Data, obviously, is stored in a database. Transactions are recorded in an account book called a ledger. A blockchain is a type of distributed database or ledger, which means the power to update a blockchain is distributed between the nodes, or participants, of a public or private computer network. This is known as distributed ledger technology (DLT). Nodes are rewarded with digital tokens or currency to make updates to blockchains.

Blockchain allows for the permanent, immutable, and transparent recording of data and transactions. This, in turn, makes it possible to exchange anything that has value, whether that’s a physical item or something more intangible.

A blockchain has three central attributes :

• First, a blockchain database must be cryptographically secure. That means you need two cryptographic keys to access or add data on the database: a public key, which is basically the address in the database, and the private key, which is an individualized key that must be authenticated by the network.
• Next, a blockchain is a digital log or database of transactions, meaning it happens fully online.
• And finally, a blockchain is a database that is shared across a public or private network. One of the most well-known public blockchain networks is the Bitcoin blockchain . Anyone can open a Bitcoin wallet or become a node on the network. Other blockchains are private networks. These are more applicable to banking and fintech , where people need to know exactly who is participating, who has access to data, and who has a private key to the database. Other types of blockchains include consortium blockchains and hybrid blockchains, both of which combine different aspects of public and private blockchains.

For all its potential, blockchain has yet to become the game changer some expected. So how can we know what’s real and what’s just hype? And can companies still use blockchain to build efficiency, increase security, and create value? Read on to find out.

Learn more about McKinsey’s  Financial Services Practice .

How does blockchain work?

A deeper dive may help in understanding how blockchain and other DLTs work .

When data on a blockchain is accessed or altered, the record is stored in a “block” alongside the records of other transactions. Stored transactions are encrypted via unique, unchangeable hashes. New data blocks don’t overwrite old ones; they are “chained” together so any changes can be monitored.

These blocks of encrypted data are permanently “chained” to one another, and transactions are recorded sequentially and indefinitely, creating a perfect audit history that allows visibility into past versions of the blockchain.

When new data is added to the network, the majority of nodes must verify and confirm the legitimacy of the new data based on permissions or economic incentives, also known as consensus mechanisms . When a consensus is reached, a new block is created and attached to the chain. All nodes are then updated to reflect the blockchain ledger.

Introducing McKinsey Explainers : Direct answers to complex questions

In a public blockchain network , the first node to credibly prove the legitimacy of a transaction receives an economic incentive. This process is called “mining.”

Here’s a theoretical example to help illustrate how blockchain works. Imagine that someone is looking to buy a concert ticket on the resale market. This person has been scammed before by someone selling a fake ticket, so she decides to try one of the blockchain-enabled decentralized ticket exchange websites that have been created in the past few years. On these sites, every ticket is assigned a unique, immutable, and verifiable identity that is tied to a real person. Before the concertgoer purchases her ticket, the majority of the nodes on the network validate the seller’s credentials, ensuring that the ticket is in fact real. She buys her ticket and enjoys the concert.

What is proof of work and how is it different from proof of stake?

Remember the idea of consensus mechanisms? There are two ways blockchain nodes arrive at a consensus: through private blockchains, where trusted corporations are the gatekeepers of changes or additions to the blockchain, or through public, mass-market blockchains.

Most public blockchains arrive at consensus by either a proof-of-work or proof-of-stake  system. In a proof-of-work system, the first node, or participant, to verify a new data addition or transaction on the digital ledger receives a certain number of tokens as a reward. To complete the verification process, the participant, or “miner,” must solve a cryptographic question. The first miner who solves the puzzle is awarded the tokens.

Originally, people on various blockchains mined as a hobby. But because this process is potentially lucrative , blockchain mining has been industrialized. These proof-of-work blockchain-mining pools have attracted attention for the amount of energy they consume.

In September 2022, Ethereum, an open-source cryptocurrency network, addressed concerns about energy usage by upgrading its software architecture to a proof-of-stake blockchain. Known simply as “the Merge,” this event is seen by cryptophiles as a banner moment in the history of blockchain. With proof of stake, investors deposit their crypto coins in a shared pool in exchange for the chance to earn tokens as a reward. In proof-of-stake systems, miners are scored based on the number of native protocol coins they have in their digital wallets and the length of time they have had them. The miner with the most coins at stake has a greater chance to be chosen to validate a transaction and receive a reward.

Learn more about proof of stake .

How can businesses benefit from blockchain?

Blockchain and DLTs could create new opportunities for businesses by decreasing risk and reducing compliance costs, creating more cost-efficient transactions, driving automated and secure contract fulfillment, and increasing network transparency. Let’s break it down further:

• Reduced risk and lower compliance costs . Banks rely on “know your customer” (KYC) processes to bring customers on board and retain them. But many existing KYC processes are outdated and drive costs of as much as $500 million per year, per bank. A new DLT system might require only one KYC verification per customer, driving efficiency gains, cost reduction, and improved transparency and customer experience.
• Cost-efficient transactions . Digitizing records and issuing them on a universal ledger can help save significant time and costs, which can matter more in some trades than in others. In a letter of credit deal, for example, two companies opted for a paperless solution and used blockchain to trade nearly $100,000 worth of butter and cheese—clearly a time-sensitive transaction. By doing so, a process that previously took up to ten days was reduced to less than four hours—from issuing to approving the letter of credit.
• Automated and secure contract fulfillment . Smart contracts are sets of instructions coded into tokens issued on a blockchain that can self-execute under specific conditions. These can enable automated fulfillment of contracts. For example, one retailer wanted to streamline its supply-chain-management efforts, so it began recording all processes and actions, from vendor to customer, and coding them into smart contracts on a blockchain. This effort not only made it easier to trace the provenance of food for safer consumption but also required less human effort and improved the ability to track lost products.

How are blockchain, cryptocurrency, and decentralized finance connected?

Blockchain enables buyers and sellers to trade cryptocurrencies online  without the need for banks or other intermediaries.

All digital assets, including cryptocurrencies, are based on blockchain technology. Decentralized finance (DeFi) is a group of applications in cryptocurrency or blockchain designed to replace current financial intermediaries with smart contract-based services. Like blockchain, DeFi applications are decentralized, meaning that anyone who has access to an application has control over any changes or additions made to it. This means that users potentially have more direct control over their money.

What else can blockchain be used for?

Cryptocurrency is only the tip of the iceberg. Use cases for blockchain are expanding rapidly beyond person-to-person exchanges, especially as blockchain is paired with other emerging technologies. Examples of other blockchain use cases include the following:

• With blockchain, companies can create an indelible audit trail through a sequential and indefinite recording of transactions. This allows for systems that keep static records (of land titles, for example) or dynamic records (such as the exchange of assets).
• Blockchain allows companies to track a transaction down to its current status. This enables companies to determine exactly where the data originated and where it was delivered, which helps to prevent data breaches.
• Blockchain supports smart contracts.

What are some concerns around the future of blockchain?

While blockchain may be a potential game changer , there are doubts emerging about its true business value . One major concern is that for all the idea-stage use cases, hyperbolic headlines, and billions of dollars of investments, there remain very few practical, scalable use cases  of blockchain.

One reason for this is the emergence of competing technologies. In the payments space, for example, blockchain isn’t the only fintech disrupting the value chain—60 percent of the nearly $12 billion invested in US fintechs in 2021 was focused on payments and lending. Given how complicated blockchain solutions can be—and the fact that simple solutions are frequently the best —blockchain may not always be the answer to payment challenges.

Looking ahead, some believe the value of blockchain lies in applications that democratize data, enable collaboration, and solve specific pain points. McKinsey research shows that these specific use cases are where blockchain holds the most potential, rather than those in financial services.

How might blockchain evolve over time?

McKinsey estimates that there will be two primary development horizons for blockchain over the next decade:

• Growth of blockchain as a service (BaaS) . BaaS is a cloud-based service that builds digital products for DLT and blockchain environments without any setup requirements for infrastructure. This is currently being led by Big Tech companies.
• Interoperability across blockchain networks and outside systems . Increased interoperability will mean that disparate blockchain networks and external systems will be able to view, access, and share one another’s data while maintaining integrity. Hardware standardization and scalable consensus algorithms will enable cross-network use cases—such as the Internet of Things  on blockchain infrastructure.

These trends will be enabled partly because of increased pressure from regulators and consumers demanding greater supply chain transparency, and partly because of economic uncertainty, as consumers seek out independent, centrally regulated systems. And large corporations launching successful pilots will build confidence for consumers and other organizations.

Potential growth could be inhibited by a few factors: for one, several well-known applications have inherently limited scalability, including energy or infrastructure requirements. Further, uncertainty about regulatory or governance developments could keep consumers shy—for instance, if there is a lack of clarity on who will enforce smart contracts. The unresolved threat of cyberattacks also remains a fear for potential blockchain users. And finally, other tech trends— namely AI —have sucked up all the oxygen (and funding) in the room.

What do NFTs have to do with blockchain?

Nonfungible tokens (NFTs) are minted on smart-contract blockchains such as Ethereum or Solana. NFTs represent unique assets that can’t be replicated—that’s the nonfungible part—and can’t be exchanged on a one-to-one basis. These assets include anything from a Picasso painting to a digital “This is fine” dog meme. Because NFTs are built on top of blockchains, their unique identities and ownership can be verified through the ledger. With some NFTs, the owner receives a royalty every time the NFT is traded.

The NFT market is extremely volatile : in 2021, one NFT created by the digital artist Mike Winkelmann, also known as Beeple, was sold  at Christie’s for $69.3 million. But NFT sales have shrunk dramatically since summer 2022. As of 2023, according to a report from crypto analysis firm dappGambl, 95 percent of NFTs are worth practically nothing.

How secure is blockchain?

Blockchain has been called a “ truth machine .” While it does eliminate many of the issues that arose in Web 2.0, such as piracy and scamming, it’s not the be-all and end-all for digital security. The technology itself is essentially foolproof, but, ultimately, it is only as noble as the people using it and as reliable as the data they are adding to it.

A motivated group of hackers could leverage blockchain’s algorithm to their advantage by taking control of more than half of the nodes on the network. With this simple majority, the hackers have consensus and thus the power to verify fraudulent transactions.

In 2022, hackers did exactly that, stealing more than $600 million from the gaming-centered blockchain platform Ronin Network. This challenge, in addition to the obstacles regarding scalability and standardization, will need to be addressed. But there is still significant potential for blockchain, both for business and society.

For a more in-depth exploration of these topics, see McKinsey’s “ Blockchain and Digital Assets ” collection. Learn more about McKinsey’s Financial Services Practice —and check out blockchain-related job opportunities if you’re interested in working at McKinsey.

Articles referenced include:

• “ What is Web3? ,” October 10, 2023
• “ McKinsey Technology Trends Outlook 2023 ,” July 20, 2023
• “ Forward Thinking on tech and the unpredictability of prediction with Benedict Evans ,” April 6, 2022, Janet Bush and Michael Chui
• “ Seven technologies shaping the future of fintech ,” November 9, 2021, Dick Fong, Feng Han, Louis Liu, John Qu, and Arthur Shek
• “ CBDC and stablecoins: Early coexistence on an uncertain road ,” October 11, 2021, Ian De Bode, Matt Higginson , and Marc Niederkorn
• “ Blockchain and retail banking: Making the connection ,” June 7, 2019, Matt Higginson , Atakan Hilal, and Erman Yugac
• “ Blockchain 2.0: What’s in store for the two ends—semiconductors (suppliers) and industrials (consumers)? ,” January 18, 2019, Gaurav Batra, Rémy Olson, Shilpi Pathak, Nick Santhanam, and Harish Soundararajan
• “ Blockchain’s Occam problem ,” January 4, 2019, Matt Higginson , Marie-Claude Nadeau , and Kausik Rajgopal
• “ Blockchain explained: What it is and isn’t, and why it matters ,” September 28, 2018,  Brant Carson  and  Matt Higginson

This article was updated in June 2024; it was originally published in December 2022.

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Our Blockchain PPTs are compatible with PowerPoint and Google Slides and are very easy to modify. Thanks to Blockchain Technology PPT, you will be able to present relevant information about your project and engage your target audience.

What is Blockchain?

Blockchain is a shared, immutable ledger that facilitates the recording of transactions and tracking assets on a network. Thanks to its technology, all participants share access to a single version of the truth, which produces a high level of transparency and trust.

Some fundamental aspects of this technology is that all participants have access to the distributed ledger, where all transactions are recorded only once. This eliminates duplication. In turn, to streamline transactions, a set of pre-established rules, called Smart Contracts, are stored in the blockchain. Thanks to Smart Contracts it is possible to streamline processes and include conditions in certain transactions.

How to present a Blockchain Technology PPT?

The objective of a Blockchain Presentation is to persuade or inform about an established idea or project. Therefore it is important to provide concise and straightforward information, specify the scope, define the purpose of the project and communicate the key activities to be performed. For this, we recommend using pre-made templates compatible with PowerPoint and Google Slides to reduce your work and guide you when creating your presentation.

What are the advantages of using a Blockchain Presentation?

Using a Blockchain PPT helps to organize the information in your presentation in a clear and professional way, guiding you in the creation of your presentation and also when presenting it. Our Blockchain Presentations contain images and graphic resources that help to generate engagement with your audience.

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Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger.

The decentralized database managed by multiple participants is known as Distributed Ledger Technology (DLT). Blockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature called a hash. This means if one block in one chain was changed, it would be immediately apparent it had been tampered with. If hackers wanted to corrupt a blockchain system, they would have to change every block in the chain, across all of the distributed versions of the chain. Blockchains such as Bitcoin and Ethereum are constantly and continually growing as blocks are being added to the chain, which significantly adds to the security of the ledger. Bitcoin was designed to solve this problem by using a specific type of database called a blockchain. Most normal databases, such as an SQL database, have someone in charge who can change the entries. Blockchain is different because nobody is in charge. it is run by the people who use it. What’s more, bitcoins cannot be faked, hacked or double spent – so people that own this money can trust that it has some value.

The first slide will be useful in preparing information on the blockchain application. This slide includes categories such as Digital Currency, Record Keeping, Securities, Smart Contract. Each of these categories has additional text boxes where you can describe in more detail the benefits of using blockchain. This slide can be used by financiers in their work. For example, you can describe the process of securing bitcoin when preparing a presentation on this currency. The next slide can be used to describe the process of storing data in the blockchain. This slide will be useful for technology companies in the preparation of their data storage solutions. For example, you describe the advantages of storing data in a blockchain over conventional data tables.

The slides in this template can be used by instructors to prepare a course on data storage or data protection techniques. Also, the slides of this template will be useful for startups in preparation for meeting with potential investors. All template slides are in line with the latest design trends and have all the tools you need to build a professional presentation. If necessary, you can independently change the color and size of objects on the slide in accordance with your corporate requirements. Blockchain Template will be a worthy addition to your collection of professional presentations.

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Introduction to Blockchain technology | Set 1

Blockchain could be a data structure that could be a growing list of information blocks. The knowledge blocks area unit coupled along, such recent blocks can’t be removed or altered. Blockchain is the backbone Technology of the Digital CryptoCurrency BitCoin.

What is Blockchain?

The blockchain is a distributed database of records of all transactions or digital events that have been executed and shared among participating parties. Each transaction is verified by the majority of participants of the system.

It contains every single record of each transaction. Bitcoin is the most popular cryptocurrency an example of the blockchain. Blockchain Technology first came to light when a person or group of individuals name ‘Satoshi Nakamoto’ published a white paper on “ BitCoin: A peer-to-peer electronic cash system ” in 2008.

Blockchain Technology Records Transaction in Digital Ledger which is distributed over the Network thus making it incorruptible. Anything of value like Land Assets, Cars, etc. can be recorded on Blockchain as a Transaction. 

How does Blockchain Technology Work?  

One of the famous use of Blockchain is Bitcoin. Bitcoin is a cryptocurrency and is used to exchange digital assets online. Bitcoin uses cryptographic proof instead of third-party trust for two parties to execute transactions over the Internet. Each transaction protects through a digital signature. 

Blockchain Decentralization

There is no Central Server or System which keeps the data of the Blockchain. The data is distributed over Millions of Computers around the world which are connected to the Blockchain. This system allows the Notarization of Data as it is present on every Node and is publicly verifiable.

Blockchain nodes

A node is a computer connected to the Blockchain Network. Node gets connected with Blockchain using the client. The client helps in validating and propagating transactions onto the Blockchain. When a computer connects to the Blockchain, a copy of the Blockchain data gets downloaded into the system and the node comes in sync with the latest block of data on Blockchain. The Node connected to the Blockchain which helps in the execution of a Transaction in return for an incentive is called Miners.

Disadvantages of the current transaction system:

• Cash can only be used in low-amount transactions locally.
• The huge waiting time in the processing of transactions.
• The need for a third party for verification and execution of Transactions makes the process complex.
• If the Central Server like Banks is compromised, the whole system is affected including the participants.
• Organizations doing validation charge high process thus making the process expensive.

Building trust with Blockchain: Blockchain enhances trust across a business network. It’s not that you can’t trust those who you conduct business with it’s that you don’t need to when operating on a Blockchain network. Blockchain builds trust through the following five attributes:

• Distributed: The distributed ledger is shared and updated with every incoming transaction among the nodes connected to the Blockchain. All this is done in real time as there is no central server controlling the data.
• Secure: There is no unauthorized access to Blockchain made possible through Permissions and Cryptography.
• Transparent: Because every node or participant in Blockchain has a copy of the Blockchain data, they have access to all transaction data. They themselves can verify the identities without the need for mediators.
• Consensus-based: All relevant network participants must agree that a transaction is valid. This is achieved through the use of consensus algorithms.
• Flexible: Smart Contracts which are executed based on certain conditions can be written into the platform. Blockchain Networks can evolve in pace with business processes.

What are the benefits of Blockchain?

• Time-saving: No central Authority verification is needed for settlements making the process faster and cheaper.
• Cost-saving: A Blockchain network reduces expenses in several ways. No need for third-party verification. Participants can share assets directly. Intermediaries are reduced. Transaction efforts are minimized as every participant has a copy of the shared ledger.
• Tighter security: No one can tamper with Blockchain Data as it is shared among millions of Participants. The system is safe against cybercrimes and Fraud.
• Collaboration: It permits every party to interact directly with one another while not requiring third-party negotiation.
• Reliability: Blockchain certifies and verifies the identities of every interested party. This removes double records, reducing rates and accelerating transactions. 

Application of Blockchain

• Leading Investment Banking Companies like Credit Suisse, JP Morgan Chase, Goldman Sachs, and Citigroup have invested in Blockchain and are experimenting to improve the banking experience and secure it. 
• Following the Banking Sector, the Accountants are following the same path. Accountancy involves extensive data, including financial statements spreadsheets containing lots of personal and institutional data. Therefore, accounting can be layered with blockchain to easily track confidential and sensitive data and reduce human error and fraud. Industry Experts from Deloitte, PwC, KPMG, and EY are proficiently working and using blockchain-based software.
• Booking a Flight requires sensitive data ranging from the passenger’s name, credit card numbers, immigration details, identification, destinations, and sometimes even accommodation and travel information. So sensitive data can be secured using blockchain technology. Russian Airlines are working towards the same. 
• Various industries, including hotel services, pay a significant amount ranging from 18-22% of their revenue to third-party agencies. Using blockchain, the involvement of the middleman is cut short and allows interaction directly with the consumer ensuring benefits to both parties. Winding Tree works extensively with Lufthansa, AirFrance, AirCanada, and Etihad Airways to cut short third-party operators charging high fees. 
• Barclays uses Blockchain to streamline the Know Your Customer (KYC) and Fund Transfer processes while filling patents against these features. 
• Visa uses Blockchain to deal with business-to-business payment services. 
• Unilever uses Blockchain to track all their transactions in the supply chain and maintain the product’s quality at every stage of the process. 
• Walmart has been using Blockchain Technology for quite some time to keep track of their food items coming right from farmers to the customer. They let the customer check the product’s history right from its origin. 
• DHL and Accenture work together to track the origin of medicine until it reaches the consumer. 
• Pfizer, an industry leader, has developed a blockchain system to keep track of and manage the inventory of medicines. 
• The government of Dubai looking forward to making Dubai the first-ever city to rely on entirely and work using blockchain, even in their government office.  
• Along with the above organizations, leading tech companies like Google, Microsoft, Amazon, IBM, Facebook, TCS, Oracle, Samsung, NVIDIA, Accenture, and PayPal, are working on Blockchain extensively.

Is Blockchain Secure?

Nowadays, as the blockchain industry is increasing day by day, a question arises is Blockchain safe? or how safe is blockchain? As we know after a block has been added to the end of the blockchain, previous blocks cannot be changed. If a change in data is tried to be made then it keeps on changing the Hash blocks, but with this change, there will be a rejection as there are no similarities with the previous block.

Just imagine there is a who hacker runs a node on a blockchain network, he wants to alter a blockchain and steal cryptocurrency from everyone else. With a change in the copy, they would have to convince the other nodes that their copy was valid.

They would need to control a majority of the network to do this and insert it at just the right moment. This is known as a 51% attack because you need to control more than 50% of the network to attempt it.

Timing would be everything in this type of attack—by the time the hacker takes any action, the network is likely to have moved past the blocks they were trying to alter.

Blockchain project ideas

Here are a few project ideas for beginners looking to learn more about blockchain technology:

• Cryptocurrency Wallet: Create a simple cryptocurrency wallet application that allows users to send and receive digital assets.
• Blockchain Explorer: Develop a web-based application that allows users to view and search the transactions on a specific blockchain.
• Smart Contract: Implement a simple smart contract on the Ethereum blockchain that can be used to manage a digital token or asset.
• Voting System : Create a blockchain-based voting system that allows for secure and transparent voting while maintaining voter anonymity.
• Supply Chain Management: Develop a blockchain-based system for tracking the movement of goods and services through a supply chain, providing greater transparency and traceability.
• Decentralized marketplace: Create a decentralized marketplace using blockchain technology where the goods and services can be directly bought by the customers without any intermediary.
• Identity Management: Create a decentralized digital identity management system that allows users to control their personal information and share it securely with others.

These are just a few examples, there are many other possibilities to explore within Blockchain technology.

Future Scope of Blockchain Technology

Finance, supply chain management, and the Internet of Things are just a few of the sectors that blockchain technology has the power to upend (IoT). The following are some potential uses for blockchain in the future:

• Digital Identity: Blockchain-based digital IDs might be used to store personal data safely and securely as well as offer a means of establishing identity without the need for a central authority.
• Smart Contracts: A variety of legal and financial transactions could be automated using smart contracts, self-executing contracts with the terms of the agreement put straight into lines of code.
• Decentralized Finance (DeFi): Using blockchain technology, decentralized financial systems might be built that support peer-to-peer transactions and do away with conventional intermediaries like banks.
• Supply Chain Management: Blockchain technology can be applied to a permanent record of how goods and services have been moved, enabling improved openness and traceability across the whole supply chain. -Internet of Things (IoT): Blockchain technology may be used to build decentralized, secure networks for IoT devices, enabling them to exchange data and communicate with one another in an anonymous, safe manner.

In general, blockchain technology is still in its early stages and has a wide range of potential applications.

Advantages of Blockchain Technology:

• Decentralization: The decentralized nature of blockchain technology eliminates the need for intermediaries, reducing costs and increasing transparency.
• Security: Transactions on a blockchain are secured through cryptography, making them virtually immune to hacking and fraud.
• Transparency: Blockchain technology allows all parties in a transaction to have access to the same information, increasing transparency and reducing the potential for disputes.
• Efficiency: Transactions on a blockchain can be processed quickly and efficiently, reducing the time and cost associated with traditional transactions.
• Trust: The transparent and secure nature of blockchain technology can help to build trust between parties in a transaction.

Disadvantages of Blockchain Technology:

• Scalability: The decentralized nature of blockchain technology can make it difficult to scale for large-scale applications.
• Energy Consumption: The process of mining blockchain transactions requires significant amounts of computing power, which can lead to high energy consumption and environmental concerns.
• Adoption: While the potential applications of blockchain technology are vast, adoption has been slow due to the technical complexity and lack of understanding of the technology.
• Regulation: The regulatory framework around blockchain technology is still in its early stages, which can create uncertainty for businesses and investors.
• Lack of Standards: The lack of standardized protocols and technologies can make it difficult for businesses to integrate blockchain technology into their existing systems.
• Overall, the advantages of blockchain technology are significant and have the potential to revolutionize many industries. However, there are also several challenges and disadvantages that must be addressed before the technology can reach its full potential.

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Top 10 Blockchain Technology Templates To Revolutionize Industries

Malvika Varma

‘Digital currency’ is all the rage these days. Not just tech geeks, even financial institutions are equally curious to explore it. And there’s a reason why cryptocurrency has sparked such intrigue — due to its remarkable features. You get monetary transactions in a fully automated and safe way, without the involvement of a bank or any third party. No money watcher, so no transaction fee!

But how? What is behind the wheel?

The answer is blockchain technology.

What is Blockchain Technology?

Invented in 2008 by Satoshi Nakamoto, blockchain technology is also referred to as Distributed Ledger Technology (DLT) . It facilitates peer-to-peer transactions, maintains a shared list of records, and tracks assets without a central clearing authority. 

Blockchain technology can help in embedding essential documents, contracts, or activities in digital code. Such embedded information cannot be tampered with or deleted as it is transparent, and everyone involved is accountable for every action. It will be stored in a shared database having a digital record and immutable cryptographic signature that could be identified, authenticated,  stored, and shared.

Blockchain technology is a type of database which is decentralized and is managed by many participants. For the uninitiated, a database is a collection of electronically stored information.  All blockchains are databases, but the reverse is not true. The primary difference between a traditional database and blockchain technology is its structure and how it stores the data. 

In the database, data is structured in tabular format for easy search and filter of information. As the name suggests, in blockchain technology, the data is collected into groups (blocks). These blocks are filled up to their storage capacity and then joined (chain) onto the previously filled blocks, forming a ‘blockchain’. Likewise, all the new information or data that follows is added to the new block. Once loaded, this new block is joined to the sequential chain. Once a block is added to the chain, it is given a timestamp and becomes a part of the data’s irreversible timeline.

Basics of blockchain

Let us explore the three basic concepts of blockchain technology: blocks, nodes, and miners, for a deeper understanding.

• Blocks - Blocks are the components of the chain which store data in blockchain technology. As a block is created, nounce (a 32-bit whole number) generates a cryptographic hash (a 256-bit number ). Unless mined, blocks are tied to this nounce and hash.
• Nodes - In this decentralized technology, nodes are electronic devices that keep copies of the blockchain.   As no one organization or computer owns a chain, the distributed ledger is connected with nodes. A specific alphanumeric identification number is provided to each participant. Due to the technology’s transparent nature, the identification number reflects and records every action. 
• Miners - Miners create new blocks on the blockchain through a process called mining. To add a block to the chain, miners find a nounce that generates an accepted hash using various software. As each block has its own nounce and hash, along with the previous block’s hash, the block’s alteration isn’t easy. Block manipulation is a complex process as it requires re-mining of all the blocks that follow and is, thus, a safety feature. After successfully mining the block, the change is accepted by all the nodes of the network.

Do you wish to inform your audience about Blockchain? Click here to download our Comprehensive Training Curriculum on Blockchain Technology and its Applications.

Download Content-Ready Blockchain Technology Applications Training PowerPoint Deck

Top 10 Blockchain Technology Templates To Download

Blockchain technology can revolutionize industries in many ways. We have curated the top 10 blockchain technology PPT to understand this technology and take advantage of these to implement in your organization. These pre-designed templates are all you need to stay ahead and harness the untapped potential of blockchain technology.

Download Blockchain Template

Give a detailed introduction to the working of a distributed ledger by incorporating this blockchain technology template. Comprising these 19 slides complete deck, the benefits and limitations of this technology can be discussed effectively. Students can also include this template for educational purposes.

Download Blockchain Technology Template

Explain the blockchain architecture and how it enables safe transactions by downloading this comprehensively-researched blockchain technology template. You can explain the 30-60-90 days implementation roadmap to your teammates with this illustrative complete deck. 

Download Blockchain Basics Architecture Use Cases And Implementation Timeline Template

Discuss how blockchain is transforming business by employing our customizable blockchain technology template. You can also elucidate the test cases of the technology using our pre-designed PowerPoint template. Technology professionals can take advantage of this complete deck to highlight the features of blockchain technology.

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Download Overview Of Blockchain Technology And Architecture Template

Blockchain technology and its applications can completely change the way information is stored and shared. Elucidate the advantages of blockchain technology and its applications using our customizable template. Additionally, students can use it for their projects and seminars by simply hitting the download button.

Download Smart Contracts Blockchain Template

Highlight the working and use of distributed ledger by introducing this well-researched blockchain technology complete deck. Furthermore, you can download this template to showcase the features of this technology such as privacy and decentralization. 

Download Positive Impact Of Using Blockchain In Banking Template

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Template 10

Download 5 Benefits Of Blockchain Technology Template

Elucidate the advantages of blockchain technology using our illustrative PowerPoint template. Also, with this content-ready template, teachers can educate the students about this latest technology easily.

Blockchain is an open-source technology that is transparent and immutable, with a classic example of cryptocurrency like Bitcoin. Download these professionally-designed templates to educate and implement blockchain technology in your company. Pick the most suited blockchain ppt templates and customize it according to your business needs. 

Blockchain is the basis of entirely new industries. Click here to access our Comprehensive Training Curriculum on Blockchain Industry Applications to educate your audience on how broad this technology really is.

Download Content-Ready Blockchain Technology Training PowerPoint Deck

PS: To know how AI can solve business challenges just like blockchain, check out our Top 20 Artificial Intelligence PowerPoint Templates For Technology Geeks .

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Cryptography in Blockchain Technology

May 01, 2024

0 likes | 57 Views

Learn how blockchain systems' transaction security and data quality are guaranteed by cryptographic algorithms. Discover the fundamentals of consensus algorithms, digital signatures, and encryptionu2014the elements that allow for trust and transparency in distributed networks.

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Healthcare leaders still have doubts, however, about the feasibility of creating large scale blockchain solutions. http://www.radiusanesthesia.com

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Kalibroida is one of the best Blockchain Development Company,if you are looking for Blockchain services we are here to give you the best solution. Our services include SAP Development, Amazon Web Services, Azure, Salesforce, Blockchain development. We have offices at USA, Delhi and Pune. A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as 'completed' blocks (the most recent transactions) are recorded and added to it in chronological order, it allows market participants to keep track of digital currency transactions without central record keeping.

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Ongoing Blockchain Technology Trends in 2018

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Blockchain Technology

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Blockchain Technology News & Network Security with Cryptography

A blockchain, originally blockchain, is a growing list of records, called blocks, which are linked using cryptography. For latest blockchain technology news, visit our website. https://xnews.io/

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BlockChain Technology

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Blockchain Technology Market

Blockchain Technology Market, by Services (Payment, Contract, Documentation, Exchanges), by Application (Government, Healthcare, Media & Entertainment, Banking & Finance) - Forecast 2022

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Blockchain is a public ledger or a distributed database of all bitcoin transactions. It is a open source technology and anyone can access the details at anytime. The unique feature of the blockchain technology is that, the digital transactions and information are immutable. As it is a distributed ledger, there will be no control or central authority of records stored.

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Blockchain Technology | Blockchain Technology Explained | Blockchain Training | Edureka

** Blockchain Training: https://www.edureka.co/blockchain-training ** This Edureka's tutorial on Blockchain Technology tells you why Blockchain is one of the leading technology in today's IT Industry and why should you learn it. This video also tells the key features and different platforms of this technology. Below are the topics covered in this tutorial: 1. Decentralized System 2. Financial Impact of Blockchain 3. Key Features of Blockchain 4. Innovations in Blockchain 5. Blockchain Development Platforms 6. Blockchain Applications 7. Blockchain Technology Demo: Decentralized Pet Shop Here is the link to the Blockchain blog series: https://goo.gl/DPoAHR You can also refer to this playlist on Blockchain: https://goo.gl/V5iayd

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Blockchain Technology in Music Industry

Blockchain for music industry can eliminate the role of intermediaries via bringing closer the fans and artists. Also can establish trust in payment to artists.

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Influential Leaders in Blockchain Technology

Insights Success brings to you, "Influential Leaders in Blockchain Technology". These businesspersons are the perfect blend of technology, and innovation, and are at the forefront of blockchain technology.

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BLOCKCHAIN TECHNOLOGY IN THE CONSTRUCTION INDUSTRY

This paper discuss on the application of blockchain technology in the construction industry

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Blockchain Technology In Railway Industry

Find out how blockchain technology can reduce the risk and challenges in railway industry.

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A blockchain is a growing list of records called blocks, which are linked using cryptography. This paper introduces typical blockchain consensus algorithms, reviews blockchain applications and discusses technical challenges as well as recent advances in tackling the challenges. Moreover, this paper also points out the future directions in the blockchain technology. Sukesha Subhash Patil | Prof Y. L. Puranik "Blockchain Technology" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23774.pdf Paper URL: https://www.ijtsrd.com/computer-science/computer-network/23774/blockchain-technology/sukesha-subhash-patil

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Master the Blockchain technology with Online Degree in Blockchain

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2020 Analysis and Review : Blockchain Technology Market by Use Case - Supply Chain Management, Digital Identity, Payments & Money and Others for 2020 - 2030

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Integrating Blockchain technology in enterprises

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Blockchain Training - Blockchain Technology Course - GKT

Gain 360 degree Blockchain Training in simple and plain English delivered by our seasoned trainers at Global Knowledge Technologies.

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Why adopt Blockchain Technology in Business?

Blockchain is an innovative technology booming the industries with the Decentralization.

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Certificate in Blockchain Technology Management

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More From Forbes

How blockchain technology is changing the world.

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Founder of DLT Labs , pioneering blockchain enterprise solutions via distributed application architecture development and integration.

We see the stories every day. Feds charge 21 people in global crypto money laundering bust. FTX not only filed for bankruptcy, but hackers allegedly stole customer assets . Cryptocurrency investors have lost more than $2 trillion in the past year.

Given such headlines, one can be forgiven for viewing cryptocurrency and cryptocurrency trading negatively. Moreover, the tremendous amount of energy required for bitcoin mining also may add to one’s skepticism, given the very real impact of climate change. But one should remember that cryptocurrency represents just a small subset of distributed ledger technology (DLT). As such, people, businesses and governments must be extremely careful not to dismiss the vast potential blockchain offers humanity as a whole.

What Is Blockchain?

At its most basic, blockchain is about how both digital and real assets get moved from one person or one place to the next without the need for a costly, intrusive third party to facilitate the process. While the creation of distributed ledger technologies that make blockchain work was applied first to the movement of money, giving rise to cryptocurrency, blockchain can be used for any asset by creating a digital replica of a real object and performing the necessary action in real time.

How Blockchain Benefits Society

The world has already benefited heavily from the power and elegance of blockchain. For example, at the height of the pandemic, with millions of people in desperate need of effective Covid-19 vaccines, our company created an intelligent vaccine tracking system using blockchain to ensure frictionless distribution of life-saving immunizations around the globe under extreme temperature control. This not only ensured vaccines got to the people who needed them around the world in record time, but reduced costs that governments had to pay pharmaceutical companies to purchase them since the blockchain tracking system helped limit the number of spoiled vaccines that had to be thrown out due to exposure to too much heat or cold.

Consumers have also benefited from enterprise blockchain as it helps businesses streamline processes and operations, efficiencies that ultimately get passed on to consumers. One of the biggest challenges arising out of the pandemic was disrupted supply chains, which even today continues to lead to shortages and rising costs for essential products like milk, toilet paper and baby formula. DLT technologies are also being used to protect consumers' health by tracking where produce and other food come from to improve food safety . Indeed, 12 of the biggest global food companies have already adopted the use of blockchain to track food in the world, including Walmart, Nestle, Unilever, Tyson Food, Driscoll's and Dole.

Blockchain is also being used to improve the travel industry. For example, Australian-based Webjet is using its blockchain platform to help avoid inaccurate or lost hotel bookings. This provides more transparency for customers and greater accountability on behalf of hotels.

And identity management is no stranger to blockchain-based solutions. In a time and place when data and privacy are so important to users, blockchain allows them to control their personal information through a distributed trust model. We're slowly starting to see an influx of blockchain-based identity management startups flooding the sector , and the blockchain identity management market is projected to reach nearly $18 billion by 2030.

While it is still too soon to know the full impact of the cryptocurrency meltdown, educating ourselves about how new technologies like blockchain work, their benefits and the potential for abuse remains our best line of defense. It is also the best way for us to identify and unlock the full potential of distributed ledger technologies to solve some of today’s most complex problems.

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