Introduction to Blockchain and Cryptocurrency - PowerPoint PPT Presentation

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Introduction to Blockchain and Cryptocurrency


Essentially, a Blockchain is a safe transaction (private or public ) ledger database — an electronic document — which can only be shared with people that are a part of a recognized network of computers. more information Visit this link given below. – PowerPoint PPT presentation

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Title: Introduction to Blockchain and Cryptocurrency

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What is Blockchain?
  • Blockchain sounds very complicated and its and
    it is not. Basically, a blockchain is made up of
    a series of blocks that capture and store data
    permanently using cryptographic coding to connect
    the blocks together to a chain. Normally,
    individuals associate this cache of data with
    Bitcoin as well as the recording of electronic
    trade information around the Blockchain.

Introduction to Blockchain
  • Essentially, that a Blockchain is a safe
    transaction (private or public ) ledger database
    an electronic document which can only be
    shared with people that are a part of a
    recognized network of computers. This makes
    Blockchain super secure, transparent and since
    its handled by computers, Blockchain is free of
    human error or deception.

What Can Blockchain Do?
  • Blockchain is now synonymous with Bitcoin news
    but Blockchains can do far more than being
    utilized for recording digital money trades.
    Blockchains databases can be used to save any
    type of information, from particulars of fiscal
    transfers to monitoring ownership of electronic
    assets within an open and transparent manner
    through recording the trades on a public ledger.
    Blockchains are fantastic for storing documents
    and electronic information.

Why Is Blockchain Important?
  • Blockchain has been compared to the Internet in
    the sense that no one really knows yet how it can
    evolve but people know the potential is enormous!
    For instance, blockchain technology may produce
    tamper-proof, resilient distributed records. This
    means among a number of other things that it
    may help trace contributions by a donor to be
    certain that they find their correct path to
    their intended recipient.

How Do the Blockchain Transactions Function?
  • To illustrate as simply as possible how
    blockchain transactions operate, I will use the
    illustration of a Bitcoin trade. Lets imagine
    that you own some Bitcoin and need to send me a
    few. You print your goal (i.e. create a payment)
    and then wait for the computers (often called
    nodes) to scan the Bitcoin network. Every
    computer on the system stores a full copy of the
    ledger so they have a comprehensive history of
    what transactions have occurred.

How are Blockchain and Cryptocurrency Different?
  • You may consider the gap between cryptocurrency
    and blockchain as the difference between email
    and the net. Blockchain is similar to the Web, a
    technology, and cryptocurrency is like email,
    which is an application of the web. The vital
    distinction between the two is that blockchain is
    technology whilst blockchain and cryptocurrency
    is an application of the Blockchain technology.

  • In a nutshell, a Blockchain is a method for
    recording information in an open and transparent
    method. In the case of Bitcoin, this has been
    used to transfer wealth electronic currency thus
    the termdigital monies. However, as more and
    more blockchain companies arise shortly well
    start seeing more programs of non-currency
    established blockchain uses.

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