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Основы Blockchain

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Blockchain – термин, с которым сталкивались 90% интернет-пользователей. Однако далеко не все понимают, что же стоит за этим термином и как Blockchain можно применять в жизни. На нашем вебинаре мы простыми и понятными словами расскажем о технологии
Blockchain introduction
Presented To: Emergn
By: Alexander Balakin
What is it?
?
2
Who is Mr.Block chain?
Business Demand
Why blockchain is awaited
Decentralized Ledger
There is no central counterparty which is responsible
for regulation and which can block actions
Accessible by Anyone
Systems based on blockchain
technologies are accessible to everyone
Greater Security
Cost of fraud exceeds cost of assets which
makes fraud itself to be ineffective
Cost Benefits
Systems based on blockchain technology are
cheaper comparing to traditional ones
3
Trusted by participants
All participants can trust the technology which is supported by
community rather than authorized representative.
Processing speeds
Processing speed is increased comparing to normal
systems which have clearance and settlement period.
Easy Ownership
Ownership is confirmed by private key. There is no
expensive registration procedure.
Easy Safekeeping
There are no costs required for
safekeeping.
Benefits of Blockchain
What blockchain provides
Disintermediation
Empowered users
Parties are able to make an exchange without the
oversight or intermediation of a third party.
Users are in control of all their information and
transactions
High quality data
Durability, reliability, and longevity
Blockchain data is complete, consistent, timely,
accurate, and widely available.
Blockchain does not have a central point of failure and is
better able to withstand malicious attacks.
Blockchain
Process integrity
Users can trust that transactions will be executed
exactly as the protocol commands removing the
need for a trusted third party.
Faster transactions
Blockchain transactions can reduce transaction
times to minutes and are processed 24/7.
4
Transparency and immutability
Changes to public blockchains are publicly viewable by
all parties and all transactions are immutable.
Lower transaction costs
By eliminating third party intermediaries and overhead
costs for exchanging assets, blockchains greatly reduce
transaction fees.
Basic Concepts
Implementation
Transaction 2
Transaction 1
Owner 1’s
public key
Owner 2’s
public key
Verify
Owner 3’s
public key
Hash
Hash
Hash
Owner 0’s
Signature
Owner 1’s
Signature
Owner 2’s
Signature
Owner 1’s
Private Key
5
Verify
Transaction 3
Sign
Owner 2’s
Private Key
Sign
Owner 3’s
Private Key
How does it work:
Business flow
Someone want to make a transaction
Issuer forming the transaction. Transaction can be cryptocurrency transfer,
contract, data transfer or any other information
Transaction send to other nodes
Fully equitable network of computers that validate and confirm transactions
Transaction confirmation
Nodes network confirms the transaction and user status
using well known strong crypto algorithms
Block creation
After confirmation transaction unites with other confirmed
transactions forming new block in the digital registry
New block added into chain
Block’s place in the chain unique and can’t be changed afterwards
Transaction completed
And new transaction due to be started
6
Basic Concepts
Terms
7
Authorization
Verification
Time
Proof
Ledger records are
authorized by private key
of owner.
Ledger records can always
be verified by owner’s
public key stored in record.
Ledger records have
timestamp to mark
operation time.
Proof of work used to
prevent fraud.
01
02
03
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Broadcasting
Incentive
Disk Space
Platforms
Operations are
broadcasted to all nodes of
network.
Incentives are used to
reward nodes participated
in calculation of proof.
Disk space is minimized by
used “Merkle Tree”
approach.
There are several variations
of platforms which support
blockchain.
05
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07
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Basic Concepts
Proof of work and linked blocks
Why it’s required
Proof of work is used to confirm that network spend
time to add block to ledger. It’s used to prevent fraud
Chain
All blocks are linked in single chain of ledger and
each block contains hash code of its ancestor..
Past
If any block in chain will be changed in attempt of
fraud then this will be immediately recognized by
network because node’s hash is pat of its child block
8
Implementation
Each network node “mines” an addition of text to block
to get predefined number “0” to its hash generated with
SHAXXX mechanism.
Longest route
Network always select the longest route and declines
shorter branches.
Frequency
Normally nodes are added by each 10 minutes
Basic Concepts
Network
Broadcasting
New transactions are broadcasted to all nodes.
Missing update
If a node does not receive a block, it will
request it when it receives the next block and
realizes it missed one
Racing
If two nodes broadcast different versions of the
next block simultaneously. In this case, nodes
work on the first one they received, but save
the other branch in case it becomes longer.
Chain
Nodes always consider the longest chain to
be the correct one and will keep working
on extending it
9
Blocks
Each node collects new transactions into
a block.
Proof of work
Each node works on finding a difficult proof-ofwork for its block. When a node finds a proof-ofwork, it broadcasts the block to all nodes
Acceptance
Nodes accept the block only if all transactions in it are
valid and not already spent. Nodes start to work on new
block using hash of the previous block
Platforms
10
Block chain apps
Examples
11
Block chain
Dark side
Efficiency
All nodes check the same transactions via the same
algorithms, add same blocks, keep same history.
It is not forever
Block chain lifetime limited by storage
(Bitcoin weight ~ 100 Gb/8 years, Ethereum
– 200Gb/3 years).
Can’t replace money
At least at the moment, due to transaction
speed (Bitcoin – 7 transactions/second, block
add each 10 mins, reliability time – 50 mins).
Pseudonymity and anonymity
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05
01
04
02
Recipient will know how much money you have and
how you sent it. Such kind of transparency fatal for big
companies with their closed information about clients,
sells, counterparties etc.
03
Decentralized means Unbreakable
Absolute safety
Risk of attack 51% mitigated only by amount of
miners, that depend on benefits of mining.
12
More than 50% of Bitcoin miners controlled by 4
pools and overall mining powers located in China
(81%).
Smart contract
Definition
Code-based contract
Stored on a distributed ledger, that
executed autonomously
Smart contracts
Contains embedded information
need to have defined start and end events
(e.g. based on an externally occurring event)
on ownership of assets and parties involved
Multiparty
Rights
signature secures access to the
contract
to access and update the distributed
databases where the assets are stored
Access
to internal & external (trusted third party) data
source(s) that triggers the execution of terms
13
Smart contract
Examples
14
Smart contract
Is it the Future?
15
How to spend Bitcoins
Examples
Virgin Galactic
A seat to space with Virgin Galactic
and membership of the Future
Astronaut community.
Expedia.com
is one of the world’s leading travel
companies, allow to book hotel, rent a
car and buy tours.
Air Baltic
Travel all over the Europe with only
5,99 additional fee.
16
Charity
ICRC, Save the Children, Water
Project accept donations in different
crypto currencies
Food Delivery
Pizzaforcoins, Foodler and
Takeaway.com provide food delivery
service in North America and Europe
Microsoft
You can buy games, music and video
in Xbox Live, Windows store allows to
purchase applications and other digital
content
Improving the way people
and companies work.
Forever.
17
Вопросы
18
Thank you
Alexander Balakin
Alexander.Balakin @emergn.com
www.emergn.com
Автор
Emergn
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