Blockchain
introduction
Agenda
- Basic concepts of blockchain
- What kind of problems blockchain tries to solve
- Mining - why we need it
Blockchain != BitCoin
What is the Blockchain
Blockchain - is a distributed, continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block contains typically a hash pointer as a link to a previous block, a timestamp and transaction data.
Distributed Market
Banking
Assets exchange
1000$
?
The Problem
1000$
TRUSTED
THIRD
PARTY
970$
Classic Banking
let's move it to the blockchain
Open ledger
GENESIS BLOCK
#0
A = 10$
#1
A → B 5$
#2
B → C 1$
#3
#0
#1
#2
CHAIN
Peter
Dave
Ann
Steve
Peter = 100$
Peter → Ann 40$
Ann → Steve 15$
Steve → Dave 5$
100$
40$
15$
5$
GENESIS BLOCK
#0
A = 10$
#1
A → B 5$
#2
B → C 1$
#3
#0
#1
#2
BLOCK
ID
CONTENT
REFERENCE
Peter
Dave
Ann
Steve
100$
40$
15$
5$
Peter = 100$
Peter → Ann 40$
Ann → Steve 15$
Steve → Dave 5$
Distributed
Peter
Dave
Ann
Steve
100$
40$
15$
5$
500$
Fraud resistant
Mining
Peter
Dave
Ann
Steve
40$
15$
UNCONFIRMED
Ann → Dave 10$
10$
Peter
Dave
Ann
Steve
40$
15$
10$
Broadcast
CONFIRMED
$
Q & A
Thanks!
#SRUG
17 Października 18:00
Blockchain - introduction
By Michał Staśkiewicz
