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Blockchain
26
th
June 2023
One Technology Can't Solve all the
Problems
Blockchain Is NOT Bitcoin
Blockchain and the Early Internet
Peer-to-Peer Network Architecture
Distributed Ledgers
Understanding Ledgers
History of Ledgers: Single-Entry Ledgers
History of Ledgers: Double-Entry Accounting
Distributed Ledger
History of Ledgers: Triple-Entry Accounting
Double vs. Triple-Entry Accounting Example
Centralized and Distributed Databases
Distributed Ledger Technologies
Basics of Blockchain
What is blockchain ?
Let's Review an Analogy
Data Stored
Blocks Are Chained Together
Blockchain Is Immutable
Hashing and Chaining
Blockchain
Transaction Flow
Characteristics of Blockchain
Immutability
Immutability in the Blockchain
Immutability in the Blockchain Is Essential
Cryptography
Encryption
Symmetric Encryption
Asymmetric Key Encryption
Cryptography and Hashing in Blockchain
●Blockchain provides users with data integrity in a trustless environment.
●This is accomplished using cryptography in a way that moves the burden of
trust from data processors to cryptographic algorithms.
In this section, we will discuss some of the ways cryptography is used in the
blockchain.
Cryptography Key Terms
Public Key Cryptography
Types of Blockchain
Types of Blockchain
Types of Blockchain
Types of Blockchain
Smart Contracts
Smart Contracts Review
Smart Contract Flow Diagram
Smart Contract Process
What Do Smart Contracts Provide?
Blockchain Security
Blockchain Security vs. Standard Cyber Security
Security Aspects
Blockchain Governance
What Is
Blockchain
Governance?
Effective blockchain governance
includes:
●Incentives
●Methods of coordination.
Blockchain Governance Strategies
Benevolent Dictator for Life
Core Development Team
Open Governance
On-Chain Governance
Who Really Governs the
Blockchain?
For a hard fork to be successful, users need to agree to follow it.
Users can refuse to follow a hard fork, creating a divergent
blockchain.
The DAO Hard Fork on Ethereum created Ethereum Classic.