Blockchain 101 in Bollywood Way

Understanding concepts of Blockchain in Bollywood Style. Concepts of Bitcoin and Ethereum. Understanding Proof of Work and how it works and What is Proof of Stake

Transcript

1. Understanding Blockchain in Bollywood style -Yogendra Mishra @imyom25
2. What’s on your plate Blockchain and how it works Bitcoin jargons Ethereum: fundamentals DApps Smart Contracts Other cryptocurrencies & ICO (Initial Coin Offering) Use cases & things we can do
3. What’s on your plate Blockchain and how it works Bitcoin jargons Ethereum: fundamentals DApps Smart Contracts Other cryptocurrencies & ICO (Initial Coin Offering) Use cases & things we can do
4. What’s on your plate Blockchain and how it works Bitcoin jargons Ethereum: fundamentals DApps Smart Contracts Other cryptocurrencies & ICO (Initial Coin Offering) Use cases & things we can do
5. What’s on your plate Blockchain and how it works Bitcoin jargons Ethereum: fundamentals DApps Smart Contracts Other cryptocurrencies & ICO (Initial Coin Offering) Use cases & things we can do
6. What’s on your plate Blockchain and how it works Bitcoin jargons Ethereum: fundamentals DApps Smart Contracts Other cryptocurrencies & ICO (Initial Coin Offering) Use cases & things we can do
7. What’s on your plate Blockchain and how it works Bitcoin jargons Ethereum: fundamentals DApps Smart Contracts Other cryptocurrencies & ICO (Initial Coin Offering) Use cases & things we can do
8. What’s on your plate Blockchain and how it works Bitcoin jargons Ethereum: fundamentals DApps Smart Contracts Other cryptocurrencies & ICO (Initial Coin Offering) Use cases & things we can do
10. Financial Values Bearable
11. Financial Values Registered
12. Past
13. Present and Future
14. The Mighty….
15. The Visa card story
16. Bidu, need 10k? De rela hai kya? Thik hai, baba.
17. Meanwhile, inside Bhai’s bank…
18. Authentication and Authorization
19. Credit card hacks
20. Current Trust System in Software
21. BLOCKCHAIN
22. The Human race and the advent of technology
23. Why We need Blockchain Multiple sources of truth Human error Fraudulence Reliance on intermediaries Vulnerability Lack of customer focus Traditional Banking System
24. Why We need Blockchain Multiple sources of truth Human error Fraudulence Reliance on intermediaries Vulnerability Lack of customer focus Traditional Banking System
25. Why We need Blockchain Multiple sources of truth Human error Fraudulence Reliance on intermediaries Vulnerability Lack of customer focus Traditional Banking System
26. Why We need Blockchain Multiple sources of truth Human error Fraudulence Reliance on intermediaries Vulnerability Lack of customer focus Traditional Banking System
27. Why We need Blockchain Multiple sources of truth Human error Fraudulence Reliance on intermediaries Vulnerability Lack of customer focus Traditional Banking System
28. Why We need Blockchain Multiple sources of truth Human error Fraudulence Reliance on intermediaries Vulnerability Lack of customer focus
29. Pillars of Blockchain Cryptography P2P Incentivize Bhai Baba
30. Pillars of Blockchain Cryptography P2P Incentivize
31. Pillars of Blockchain Cryptography P2P Incentivize Show me the incentive and I will show you the outcome - Charles Munger
32. Merkle Tree A hash tree or a Merkle tree is a tree in which every non-leaf node is labelled with the hash of the labels or values (in case of leaves) of its child nodes. Hash trees are useful because they allow efficient and secure verification of the contents of large data structures
33. Merkle Tree A hash tree or a Merkle tree is a tree in which every non-leaf node is labelled with the hash of the labels or values (in case of leaves) of its child nodes. Hash trees are useful because they allow efficient and secure verification of the contents of large data structures
34. Your “very” own.. Torrents use Merkle Tree Also, GIT, IPFS System, Bitcoin, Apache Cassandra name a few
35. Merkle Tree in a Blockchain Fat Protocol Government can ban it but can't stop it
36. Byzantine Fault Tolerance https://www.linkedin.com/pulse/blockchain-byzantine-generals-achieving-consensus-ed-feather ston
37. Bitcoin It's an official currency of the internet Anyone with an internet connection can own it
38. Bitcoin Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.
39. Bitcoin Founded by..
40. 1 BTC = $17,000
41. Bitcoin characteristics Decentralized Completely transparent FAST ** Global You pay less from your pocket
42. Bitcoin characteristics Decentralized Completely transparent FAST ** Global You pay less from your pocket
43. Bitcoin characteristics Decentralized Completely transparent FAST ** Global You pay less from your pocket
44. Bitcoin characteristics Decentralized Completely transparent FAST ** Global You pay less from your pocket
45. Bitcoin characteristics Decentralized Completely transparent FAST ** Global You pay less from your pocket
46. Proof of Work Miner gets paid
47. Bitcoin Blockchain
48. Solving the Digital Currency Issue Double-spending is a potential flaw in a digital cash scheme in which the same single digital token can be spent more than once. This is possible because a digital token consists of a digital file that can be duplicated or falsified
49. How Bitcoin Solves …
50. How Bitcoin Solves …
51. It’s not as perfect as it looks… 10 min for block Pending Transaction Supply 21M Limited to Money
52. Problems in PoW
53. Proof of Stake
54. Problems in PoW
55. Ethereum
56. Vitalik Buterin: Founder of Ethereum
57. Ethereum Goal Ethereum has the goal of using a blockchain to replace internet third parties — those that store data, transfer mortgages and keep track of complex financial instruments.
58. Ethereum v/s Bitcoin
59. Smart Contracts Smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman. Its like set of pre-defined conditions or rules
60. DApps Front End → Smart Contract → Blockchain
61. GAS
62. Gas
63. OTHER CRYPTOCURRENCY in the market
64. USE CASES
65. Use cases