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Block Chain Complete Guide for Beginners

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Title: Block Chain Complete Guide for Beginners


1
Blockchain
2
What is Blockchain?
2
  • Most people use a bank to make a transaction. But
    blockchain allows customer and suppliers to
    connect directly, removing the need for a third
    party.
  • blockchain provides a decentralized database, or
    digital ledger, of transactions that everyone
    on the network can see. This network is
    essentially a chain of computers that must all
    approve an exchange before it can be verified and
    recorded.
  • A blockchain is a type of distributed ledger,
    comprised of unchangeable, digitally recorded
    data in packages called blocks.

3
Blockchain-A distributed database
3
  • Picture a spreadsheet that is duplicated
    thousands of times across a network of computers.
    Then imagine that this network is designed to
    regularly update this spreadsheet and you have a
    basic understanding of the blockchain.
  • Information held on a blockchain exists as a
    shared and continually reconciled database.
    This is a way of using the network that has
    obvious benefits. The blockchain database isnt
    stored in any single location, meaning the
    records it keeps are truly public and easily
    verifiable. No centralized version of this
    information exists for a hacker to corrupt.
    Hosted by millions of computers simultaneously,
    its data is accessible to anyone on the internet.

4
Blockchain-Durability and robustness
4
  • Blockchain technology is like the internet in
    that it has a built-in robustness. By storing
    blocks of information that are identical across
    its network, the blockchain cannot
  • Be controlled by any single entity.
  • Has no single point of failure.
  • Bitcoin was invented in 2008. Since that time,
    the Bitcoin blockchain has operated without
    significant disruption. (To date, any of problems
    associated with Bitcoin have been due to hacking
    or mismanagement. In other words, these problems
    come from bad intention and human error, not
    flaws in the underlying concepts.)

Durability
5
Blockchain-Transparent and incorruptible
5
  • The blockchain network lives in a state of
    consensus, one that automatically checks in with
    itself every ten minutes. A kind of
    self-auditing ecosystem of a digital value, the
    network reconciles every transaction that happens
    in ten-minute intervals. Each group of these
    transactions is referred to as a block. Two
    important properties result from this
  • Transparency
  • Data is embedded within the network as a
    whole, by definition it is public.
  • It cannot be corrupted
  • altering any unit of information on the
    blockchain would mean using a huge amount of
    computing power to override the entire network.

6
Blockchain-A network of nodes
6
  • Every node is an administrator of the
    blockchain, and joins the network voluntarily (in
    this sense, the network is decentralized).
    However, each one has an incentive for
    participating in the network the chance of
    winning Bitcoins.
  • Nodes are said to be mining Bitcoin, but the
    term is something of a misnomer. In fact, each
    one is competing to win Bitcoins by solving
    computational puzzles.Its now recognized to be
    only the first of many potential applications of
    the technology.

7
Blockchain-The idea of decentralization
7
  • Anything that happens on it is a function of the
    network as a whole. Some important implications
    stem from this. By creating a new way to verify
    transactions aspects of traditional commerce
    could become unnecessary. Stock market trades
    become almost simultaneous on the blockchain, for
    instance or it could make types of record
    keeping, like a land registry, fully public. And
    decentralization is already a reality.
  • A global network of computers uses blockchain
    technology to jointly manage the database that
    records Bitcoin transactions. That is, Bitcoin is
    managed by its network, and not any one central
    authority. Decentralization means the network
    operates on a user-to-user (or peer-to-peer)
    basis. The forms of mass collaboration this makes
    possible are just beginning to be investigated.

8
Blockchain-The Blockchain Enhanced security
8
  • Anything that happens on it is a function of the
    network as a whole. Some important implications
    stem from this. By creating a new way to verify
    transactions aspects of traditional commerce
    could become unnecessary. Stock market trades
    become almost simultaneous on the blockchain, for
    instance or it could make types of record
    keeping, like a land registry, fully public. And
    decentralization is already a reality.
  • A global network of computers uses blockchain
    technology to jointly manage the database that
    records Bitcoin transactions. That is, Bitcoin is
    managed by its network, and not any one central
    authority. Decentralization means the network
    operates on a user-to-user (or peer-to-peer)
    basis. The forms of mass collaboration this makes
    possible are just beginning to be investigated.

9
Blockchain-Use Case
9
  • Smart Contracts
  • Distributed ledger enable the coding of simple
    contracts that will execute when specified
    conditions are met.
  • The Sharing Economy
  • Be enabling peer to peer payments, the blockchain
    opens the door to direct intraction between
    parties a truly decentralized sharing economy
    result.
  • Croud funding
  • Blockchain take this interest to the next level,
    Potentially creating cround funding venture
    capitle funds.
  • Goveronment
  • By making the resultfully transperancy and
    publically accessible,Distributed db tecnology
    could bring full transparancy to election or any
    other kind of poll taking.

10
Blockchain-Use Case
10
  • Supply chain Auditing
  • Distributed ledgers provide an easy way to
    certify that the backstories of the things we buy
    are genuine.transparancy comes with blockchain
    based timestamping of data and location on
    ethical diamonds, for instance that corresponds
    to a poduct number
  • File storage
  • Decentralizing the file store on the internet
    brings clear benefits. Distributing data
    throughout the network protects file from getting
    hacked or lost.
  • Prediction Marketing
  • That pay out accoroding to event outcomes are
    already active. There is no doubt find other
    technology that will no doubt find other
    application in the years to come.
  • Protection of intellectual property
  • Smart contracts can project copyright and
    automate the sale of creative works online,
    eliminating risk of file copying and
    redistribution.

11
Blockchain-Use Case
11
  • Internet of things
  • Smart contracts make the automation of remote
    system management possible. A combination of S/W,
    sensors and network facilitates an exchange of
    data between objects and mechanisms.
  • NeighbourhoodMicrogrids
  • Blockchain technology enables the buying and
    selling of the renewable energy generated by
    NeighbourhoodMicrogrids.
  • Identity Management
  • Distributed ledgers offers enhanced methods for
    proving who you are, along with the possiblity to
    digitize personal documents.Having a secure
    identity will also be important for online
    interaction for instance in the sharing economy.
  • Data management
  • In future user will have the ability to manage
    and sell the data their online activity
    generates. Because it can easily distributed in
    small fraction amounts.

12
Contact Us
12
Thanks, For More Information about training,
Click Website http//www.attuneww.com Canada
1-647-712-0278 Email contact_at_attuneww.com
India - 91-90999 12995
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