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

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

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

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

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

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

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

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

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

11. Copyright © 2017, edureka and/or its affiliates. All rights reserved. SHA256 Hash Function Hello World Hello World! hello world! a591a6d40bf420404a011733cfb7b190d62c65bf0bcda32b57b277d9ad9f146e 7f83b1657ff1fc53b92dc18148a1d65dfc2d4b1fa3d677284addd200126d9069 7509e5bda0c762d2bac7f90d758b5b2263fa01ccbc542ab5e3df163be08e6ca9 Blockchain 101 Unlike encryption algorithms, Hash functions cannot be decrypted Bitcoin uses SHA256(SHA256(Block_Header)) 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 Hash Function

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

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

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

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

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

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

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

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

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

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

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

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

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