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Blockchain 101 | Blockchain Tutorial | Blockchain Smart Contracts | Blockchain Training | Edureka

This Edureka Blockchain 101 Training will give you a complete fundamental understanding regrading Blockchain and Bitcoin. You will learn following topics: <br>1. What is Blockchain? <br>2. Blockchain concepts <br>3. Hyperledger <br>4. Blockchain Use Case <br>5. Blockchain in the Industry <br>6. Solidity programming <br>7. Demo: Smart Contracts

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Blockchain 101 | Blockchain Tutorial | Blockchain Smart Contracts | Blockchain Training | Edureka

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  1. Agenda Why Blockchain? Solidity Programming Blockchain Concepts Blockchain Use Cases Blockchain In The Industry Hyperledger Fabric Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  2. Why Blockchain? Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  3. Why Blockchain? Blockchain is the technology behind Bitcoin is the technology behind Bitcoin Bitcoin came into existence to fix the issues we had with centralized banking systems 1 2 High Transaction Fees Double Spending Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  4. Why Blockchain? Blockchain is the technology behind Bitcoin Bitcoin came into existence to fix the issues we had with centralized banking systems 3 4 Long Time Involved Financial Crisis Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  5. Why Blockchain? Bitcoin solved the issues we had with centralized banks. Centralized Power Private Ledgers Prone to Hacks Double Spending Issues with centralized banks Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  6. Why Blockchain? Bitcoin solved the issues we had with centralized banks. Decentralized Power Public Ledger Immutable to Hacks No Double Spending Issues with centralized banks Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  7. Why Blockchain? And the best part of using such a cryptocurrency is that the transaction fee is zero or very minimal in comparison with third parties such as banks and digital transfer systems. Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  8. Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  9. Blockchain 101 Blockchain is the technology behind Bitcoin Bitcoin Features Distributed Public Ledger Hash Encryption for Anonymity Proof of Work for Maintenance Incentives for Validation Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  10. Distributed Ledger Every single person on the network has a copy of the ledger There is no single centralized original copy Account Number Balance 19K4ejhJW94U0212… 37 1ZOL9470uier2UMb… 42.67 178errbZ81FePNr30… 1342 1Mr3UNPH8H4U24v… 12.005 1Pos4r9Eesbv8754b… 563 1JoH83jfos03n2490i… 974.65 … … Ledger Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  11. SHA256 Hash Function Hello World a591a6d40bf420404a011733cfb7b190d62c65bf0bcda32b57b277d9ad9f146e Hello World! 7f83b1657ff1fc53b92dc18148a1d65dfc2d4b1fa3d677284addd200126d9069 Hash Function hello world! 7509e5bda0c762d2bac7f90d758b5b2263fa01ccbc542ab5e3df163be08e6ca9 Bitcoin uses SHA256(SHA256(Block_Header)) Unlike encryption algorithms, Hash functions cannot be decrypted It is highly secure as minute changes to input gives completely different output Brute force attacks fail as there can be completely different input values giving same output Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  12. Proof of Work  Bitcoin has miners who validate have to solve a complex mathematical puzzle to add a block to the blockchain Hash (n-1) Hash (n) Hash (n+1) Block Data Block Data Block Data  Proof computationally which is tough to solve but easy to verify of work involves expensive solving puzzle Nonce Nonce Nonce Block n Block n+1 Block n+2  Miners search for a specific nonce which gives the desired hash which is predetermined Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  13. Incentives for Validation  Every miner who successfully validates a block is paid an incentive  The ($25,170 / ₹16,20,088) current incentive is 12.5 BTC  Bitcoin incentives is the only way to generate new currency into the system  By 2140, all 21 million bitcoins will be mined Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  14. Hyperledger Fabric Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  15. Hyperledger Fabric Hyperledger Fabric is by far the most advanced permissioned-blockchain technology available today - Grey Wolfond, SecureKey Tech Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  16. Hyperledger Fabric  It encourages a collaborative approach to developing blockchain technologies via a community process  It varies from the regular blockchain projects as it enables private members transactions to verify identity and  It allows channels, i.e., a group of members can form a separate (private) ledger of transactions Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  17. Solidity Programming Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  18. Solidity Programming  Solidity is a contract-oriented, high-level language whose syntax is similar to that of JavaScript and it is designed to target the Ethereum Virtual Machine (EVM).  Solidity is statically typed, supports inheritance, libraries and complex user-defined types among other features.  It is possible to create contracts for voting, crowdfunding, blind auctions, multi-signature wallets and more. Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  19. Blockchain Use Case – Stock Market Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  20. Blockchain Use Case – Stock Market Multiple Industry Problems Stock Trading History Depositories and agents are single points of failure Stock trading can be dated back to 1602 Registration, transfer, distribution and other fees East India Company was the world’s first publicly trading company Throughout these years, trading still follows the same model Increasing administrative fees with time Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  21. Stock Market – Centralized Model Regulators Regulators Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  22. Stock Market – Problems with Centralization Problem Statement To design a Blockchain solution to solve the issues of centralized stock exchange systems Problems arising in the centralized Stock exchange Companies like Lehman Brothers & MF Global self-destructed Extensive use of market debt Unaccounted anomalies in Lehman Brothers led to deteriorating creditworthiness Increasing Price-Earnings ratios Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  23. Stock Market – Blockchain Model Regulators Regulators Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  24. Stock Market – Blockchain Model Regulators Regulators Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  25. Stock Market – Blockchain Model Regulators Regulators Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  26. Stock Market – Blockchain Model Regulators Regulators Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  27. Stock Market – Blockchain Model Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  28. Blockchain Use Cases Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  29. Blockchain Use Cases Banking Payment & Transfers Healthcare Law Enforcement Voting Transportation Online Music Real Estate Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  30. Blockchain Use Cases Blockchain can cut up to $20 billion in middle-man costs per year Hacking into banking ledgers becomes close to impossible Solves the double spending problem Reduces bank crises by a large extent Banking Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  31. Blockchain Use Cases Blockchain transfers are the highest in terms of security Currently Bitcoin runs on no fixed transaction fees No bank account is required Anonymity is maintained Payment & Transfers Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  32. Blockchain Use Cases Elections require authentication of voters’ identity, secure record keeping and trusted tallies Blockchain is the medium for casting, tracking and counting votes without voter-fraud, lost records or fowl-play. Increases voter turnout Voting Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  33. Blockchain Applications Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  34. Blockchain Applications Followmyvote is the world’s first open-source online voting solution based on blockchain. It helps in voter identification and online voting. ShoCard stores your identity onto Blockchain for easy verification. Can be used for Governmental schemes and bank verification. A true decentralized ridesharing service often called ‘Uber killer’. Works on real time car pooling technique based on Blockchain. Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  35. Blockchain Applications Brooklyn Microgrid allows local residents to buy and sell the energy on blockchain they produce from rooftop solar power installations. Everledger provides an immutable blockchain ledger for diamond identification and transaction verification. Bitshares provides a high- performance decentralized trading platform on blockchain. Blockchain 101 Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  36. Copyright © 2017, edureka and/or its affiliates. All rights reserved.

  37. Copyright © 2017, edureka and/or its affiliates. All rights reserved.

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