Blockchain Technology and Applications
Dr. Chutiporn Anutariya [chutiporn at ait dot ac dot th]Department of Information and Communication Technologies,
School of Engineering and Technology, Asian Institute of Technology20 July 2018
Let’s do a Quick Survey on
Blockchain
www.menti.com
source: Bitcoin: A Peer-to-peer Electronic Cash System3
Traditional online financial transactions using third trusted party ( Banks, Paypal etc.)
Motivating idea...Is it possible for some digital entity stored on my computer, representing money, to be passed securely to someone’s else computer, without a bank?
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Challenges ...
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○ Regardless of representation any digital sequence can be copied.
○ “double-spending” -- one person makes an electronic transaction more than once using the same money.
Blockchain ○ Blockchain was invented by
Satoshi Nakamoto in 2008 to serve as the public transaction ledger of the cryptocurrency bitcoin.
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A
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A Chain of blocksInteresting property: It is very difficult to change the data that has been recorded inside a blockchain
src: https://youtu.be/SSo_EIwHSd48
A block
src: https://youtu.be/SSo_EIwHSd49
A block
src: https://youtu.be/SSo_EIwHSd410
A block
src: https://youtu.be/SSo_EIwHSd4
Modifying anything inside a block will cause the hash to change. Thus, the hash is used to detect whether there is any change in the block or not.
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Demo: https://anders.com/blockchain/hash.html
A block
src: https://youtu.be/SSo_EIwHSd412
A Chain of blocks
src: https://youtu.be/SSo_EIwHSd413
What if a block is tampered
src: https://youtu.be/SSo_EIwHSd414
P2P Network: Anyone can join
src: https://youtu.be/SSo_EIwHSd4
P2P Network of computers, known as nodes
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When a new block is created by a node
src: https://youtu.be/SSo_EIwHSd4
P2P Network
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New Block must be validated and accepted by the consensus
src: https://youtu.be/SSo_EIwHSd417
src: https://youtu.be/SSo_EIwHSd418
Each node add this new block to their own blockchain.
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Blockchain Demo
https://anders.com/blockchain/tokens.html
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“ Cryptocurrency is just one application of Blockchain.
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Cryptocurrency 22
How many cryptocurrencies
are currently available?
AND what are they?
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4,600+ available cryptocurrencies
CryptoCoinChartshttps://www.cryptocoincharts.info/coins/info
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About BITCOIN
https://youtu.be/Gc2en3nHxA4
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Bitcoin Values 26
“ Blockchain also has potential applications far beyond bitcoin and cryptocurrency.
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A
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B Benefits of Blockchain
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Thanks!Any questions?