Block Chain & It’s

Application 1/2
 Topics
• History
• Introduction to Blockchain
• Pillars of Blockchain
• Its working
• Features of Blockchain
 Block
• A block is a container data structure that aggregates
transactions for inclusion in the public ledger, the blockchain.
• Each block contains a cryptographic hash of the previous
block, a timestamp, and transaction data.
• First block in the chain is called as genesis block.
• Hash value is zero for the first block.
• 1 block =2000 transactions
What is Blockchain
• Blockchain is a system of recording information in a way that makes
it difficult or impossible to change, hack, or cheat the system.
• Blockchain technology is a decentralized, distributed ledger that
stores the record of ownership of digital assets. Any data stored on
blockchain is unable to be modify.
• It is a Distributed public ledger technology (DLT) . It is transparent.
• Blockchain is a digital shared database/ digital storage.
• Blockchain is a list of records called blocks that store data publicly and
in chronological order.
• The information is encrypted using cryptography to ensure that the
privacy of the user is not compromised and data cannot be altered.
• The information is stored and managed in a decentralized manner
hence no central authority is the sole decision maker.
• Most decisions are based on a consensus of all the participating
nodes of the network spread all over the world.
Features of Blockchain
 Features of Block chain (Contd.)
• Decentralized: Decentralized technology gives you the power to
store your assets in a network without the oversight and control
of a single person organization or entity.
• Digital ledger: Allows anyone with the required access to view
the ledger and makes the process transparent and reliable.
• Cryptographically Secure: Every document in the block is
encrypted and stored.
• Distributed: All the nodes are connected in the distributed
system and every node will have copy of ledger.
• Immutability: once the transaction blocks get added on the
ledger, no one can just go back and change it. Thus, any user on
the network won’t be able to edit, delete or update it.
Blockchain Architecture