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Introduction To Blockchain Technology

Blockchain technology is a decentralized digital ledger that securely records and verifies transactions across a peer-to-peer network. It features immutability, security through cryptography, and transparency, with applications in finance, supply chain, identity management, and healthcare. The technology is categorized into public, private, and consortium blockchains, each serving different purposes and governance structures.

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Khushi Pandey
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28 views10 pages

Introduction To Blockchain Technology

Blockchain technology is a decentralized digital ledger that securely records and verifies transactions across a peer-to-peer network. It features immutability, security through cryptography, and transparency, with applications in finance, supply chain, identity management, and healthcare. The technology is categorized into public, private, and consortium blockchains, each serving different purposes and governance structures.

Uploaded by

Khushi Pandey
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Introduction to Blockchain Technology

Name – Khushi Pandey


Roll Number – 2024/1651
Course – Bcom Hons
Submitted to – Dr Prajwalit Shikha
Introduction to
Blockchain
Technology
Blockchain is a revolutionary digital technology that has the
potential to transform various industries by providing a
secure, decentralized, and transparent way of recording and
verifying transactions.
What is Blockchain?

1 Distributed Ledger 2 Immutable


Records
Blockchain is a
decentralized, digital Data recorded on the
ledger that records blockchain cannot be
transactions across many altered, making it a secure
computers in a network. and transparent system.

3 Peer-to-Peer Network
Blockchain operates on a peer-to-peer network, with participants
validating and recording transactions.
How Blockchain Works

1 Transaction Initiation
A transaction is initiated within the
blockchain network.

2 Transaction Validation
The network of nodes validates the
transaction using consensus mechanisms.

3 Block Creation
The validated transaction is added to a new
block in the chain.
Key Blockchain Features
Decentralization Security Transparency

Blockchain is a decentralized Blockchain uses advanced The distributed ledger provides a


system, with no single point of cryptography to ensure the integrity transparent record of all
control or failure. and security of data. transactions.
Types of Blockchain
Technology
Public Blockchain Private Blockchain
Open and accessible to Controlled by a single
anyone, with no central organization, with restricted
authority or permission access and permissions.
required.

Consortium Blockchain
Managed by a group of organizations, with shared control and
governance.
Examples of Blockchain Types

Bitcoin Ethereum Hyperledger Corda


The first and most well- A public blockchain platform A consortium of private A private blockchain
known public blockchain that enables smart contracts blockchain projects, platform designed for
network. and decentralized primarily focused on financial institutions and
applications. enterprise applications. regulated industries.
Blockchain Applications
Finance
Blockchain enables secure and transparent financial transactions,
including cryptocurrencies and cross-border payments.

Supply Chain
Blockchain can improve supply chain traceability, transparency,
and efficiency by tracking the movement of goods.

Identity Management
Blockchain-based identity solutions can provide secure and
decentralized personal data management.

Healthcare
Blockchain can enhance the security and interoperability of
electronic health records and medical data.
Conclusion
Blockchain technology has the potential to transform various industries by providing a secure,
decentralized, and transparent way of recording and verifying transactions. As the technology continues
to evolve, its applications are expected to expand, driving innovation and disruption across numerous
sectors.
References
1. Blockchain.com
2. Ethereum
3. Hyperledger
4. Corda

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