BLOCKCHAIN
AN INDUSTRIAL TRAINING REPORT
Submitted in partial fulfillment of the
requirements for the award of the degree
of
Bachelor of Technology
(Computer Science and Engineering)
by
JYOTI JAIN (22EEMCS062)
DEPARTMENT OF COMPUTER ENGINEERING
MAHILA ENGINEERING COLLEGE AJMER
BIKANER TECHNICAL UNIVERSITY
DEC 2023
MAHILA ENGINEERING COLLEGE AJMER
CANDIDATE’S DECLARATION
I hereby certify that the work which is being presented in this report entitled
Blockchain in the partial fulfillment of the requirements for the award of the degree of
BACHELOR OF TECHNOLOGY and submitted in the DEPARTMENT OF
COMPUTER ENGINEERING, MAHILA ENGINEERING COLLEGE AJMER is an
authentic record of my own work carried out during the time period from 6 th July 2023 to
21st July 2023 at the MAHILA ENGINEERING COLLEGE AJMER.
The matter presented in this report has not been submitted by me anywhere else.
JYOTI JAIN
BTU Roll No: 22EEMCS062
-----------------------------------------------------------------------------------------------------------
This is to certify that the above statement made by the candidate is correct to the
best of my/our knowledge.
Dalpat Songara
Assistant Professor
Department of Computer Engineering
Mahila Engineering College, Ajmer
Ms. Meeta Sharma
Head of the Department
Department of Computer Engineering
Mahila Engineering College, Ajmer
ACKNOWLEDGEMENTS
I am deeply grateful to extend my sincere appreciation and thanks to our Principal,
Dr. J.K. Deegwal, and our Head of Department, Ms. Meeta Sharma, for the successful
completion of my Internship Training Program. Furthermore, I express my gratitude to all
the professors who provided informative lectures, valuable guidance, and constructive
feedback during my training period. I would also like to acknowledge those who
contributed directly or indirectly to the great success of this training program.
It gives me immense pleasure to present this report as a reflection of my sincere efforts to
Professor Mr. Dalpat Songara (Assistant Professor – Department of Computer Science
and Engineering), whose invaluable assistance made this report possible
ABSTRACT
The first part of the report addresses the training provided through a formal classroom
training environment, with the main objective of offering a broader understanding of the
pool of knowledge surrounding a student and upskilling them in various domains. These
domains range from foundational soft skills to the strong pedestals of technical skills
upon which the success of students proudly stands.
During the formal training phase, I acquired a diverse set of skills and knowledge. The
importance of internships and how to prepare for placements were emphasized, providing
valuable insights into the professional world. Soft skills such as time management, self-
grooming, creative thinking, and learning from successful entrepreneurs were integral
aspects of the curriculum. Additionally, I delved into the intriguing realm of mathematics,
exploring whether it is a fun pursuit or a daunting challenge. Programming skills and
adapting to learning in the digital age through Massive Open Online Courses (MOOCs)
were also crucial components of this phase.
Moving a step ahead of formal training, we engaged in industrial training. Here, our focus
shifted from a broad flashlight approach to a laser-sharp one, aiming to master a specific
topic in the technical domain. Each group of students had the responsibility to choose a
topic based on their area of interest and conduct in-depth research related to that domain,
further categorized as Additional Learning.
In the industrial training phase, my focus was on blockchain technology. This immersive
experience allowed me to gain practical insights into the workings of blockchain, its
applications, and its role in the modern digital landscape.
As part of the Additional Learning category, I selected and mastered the topic of
'CRYPTOCURRENCY' under the Blockchain category. This involved a comprehensive
exploration of the key components, applications, advantages, and challenges associated
with the CRYPTOCURRENCY.
The main aim of this report is to provide a comprehensive overview of the learning
gained during my Internship Training Period, encompassing both formal and industrial
training.
PAGE
CONTENTS
No.
Chapter 1: Formal Training provided
1.1. Importance of Internships and how to prepare for placements 6
1.2. Building Soft Skills 6
1.3. Learning in Digital Age – MOOC’s 7
1.4. Mathematics – Fun or Threat 7
1.5. Programming in C 8
Chapter 2: Industrial Training
9
2.1. Introduction of Blockchain
9
2.2. Definition of Blockchain
9
2.3. Structural Components
9
2.4. Decentralization and Network Control
9
2.5. Security Mechanisms
9
2.6. Applications beyond Cryptocurrency
10
2.7. Advantages of Blockchain
10
2.8. Challenges faced by Blockchain
10
2.9. Conclusion
Chapter 3: Additional Learning: CRYPTOCURRENCY
11
3.1. What are cryptocurrencies?
11
3.2. How does cryptocurrency transaction work?
11
3.3 Is Cryptocurrency money?
11
3.4. Cryptocurrencies v/s central bank digital currency
12
3.5. Public policy implications
12
3.6. Advantages and disadvantages of cryptourrency
13
3.7. Conclusion
Training Certificate (Photocopy)
REFERENCES
TABLE OF CONTENTS
Chapter 1
FORMAL TRAINING
1.1. IMPORTANCE OF INTERNSHIP AND HOW TO PREPARE FOR
PLACEMENT
1.1.1. Description:
This session, facilitated by Professor Mr. Yashvin Gupta, aimed to impart essential
skills required in today’s ever-changing tech world. Professor Gupta emphasized the
significance of internships in gaining industrial experience and highlighted their
profound impact on enhancing a student's CV.
He provided insights into the Placement Drive process, encompassing Screening, Skill
Assessment, Group Discussion, Technical Interview, and HR Round. Delving deeper
into the topic, he shared valuable tips for placement interviews, such as crafting a
concise resume, maintaining the right body language, conducting thorough research
about the organization, managing stress levels, and following essential steps like
practicing coding, building projects, and learning new technologies.
The session concluded with a Group Discussion among students, during which Sir
offered valuable feedback. This left a lasting impression on the students, motivating
them to prepare diligently and continue their learning journey.
1.2. BUILDING SOFT SKILLS
1.2.1. Time Management:
This session, conducted by Professor Mrs. Neetu Rathore, provided a captivating
exploration of the benefits and techniques for effective time management. Professor
Rathore introduced concepts such as the 1% rule, breaking tasks into smaller pieces
and committing to each step, and the matrix technique of time management. These
practical approaches are not only easy to implement in day-to-day life but also
promise reduced stress, increased productivity, and heightened motivation.
1.2.2. Self Grooming:
Professor Dr. Saroj Bala Gupta led an insightful session on the often underrated topic
of self-grooming. The discussion covered aspects such as defining self-grooming,
both internally and externally. Delving deeper into human values, the session
encouraged an open discussion on understanding the self, the power of self, and the
connection between mind, body, and soul.
1.2.3. Creative Thinking and Problem Solving:
In this session led by Professor Dr. Rakhi Khandelwal, participants delved
scientifically into how the human mind thinks. The exploration included
understanding the division of the brain into the right and left parts and their
contributions to producing logical and creative output. Practical discussions centered
around training the creative part of the brain, concluding with a brain-teasing game
that challenged participants' creative thinking.
1.2.4. Learn from Successful Entrepreneurs:
Professor Dr. Prashant Kriplani unfolded insightful topics in this session, such as
defining passion and goals, transforming passion into goals, the importance of having
a vision and mission in life and business, challenges faced by female entrepreneurs in
India, and the schemes and financial support provided by the government to young
entrepreneurs. The session aimed to inspire and educate participants on the
entrepreneurial journey and the key elements of success.
1.3. LEARNING IN THE DIGITAL AGE – MOOC’S
1.3.1. Description:
This session, led by Professor Dr. Shyam Sunder Sharma, introduced us to Massive
Open Online Courses (MOOCs), emphasizing the role of NPTEL in promoting this
educational revolution. Professor Sharma highlighted various platforms available for
students to elevate their learning, including the opportunity to apply for BTech
Honors within the current credit system. It was an enlightening session, empowering
students to make informed choices for their academic journey.
1.4. MATHEMATICS: FUN OR THREAT
1.4.1. Description:
Conducted by Professor Dr. Nikhil Jain, this session brilliantly conveyed the
importance and playful nature of mathematics. Dr. Jain provided insights into how
mathematics questions are framed in competitive exams, even with seemingly simple
topics like LCM and HCF. The session aimed to demonstrate how a solid
understanding of mathematics can provide a competitive edge.
1.5. PROGRAMMING
1.5.1. Description:
In the final and most crucial part of our training, the focus shifted towards technical
skills, specifically building a strong foundation in programming, particularly in the C
language. Professor Mr. Saurabh Maheshwari played a phenomenal role in teaching C
programming, covering topics such as Basics of C, Arrays and Multidimensional
Arrays in C, Strings, and Functions in C, along with numerous practical programs.
Professor Mrs. Payal Awal contributed to our understanding of loops, and Mr. Shyam
Sunder Agarwal Sir explained the overwhelming concepts of pointers and File
Handling in the most straightforward and interesting manner possible. This
comprehensive programming module aimed to equip students with practical coding
skills.
Chapter 2
INDUSTRIAL TRAINING – BLOCKCHAIN
2.1. INRODUCTION
Blockchain, a revolutionary decentralized and distributed digital ledger technology,
has emerged as a paradigm shift in the realm of secure and transparent digital
transactions. This report provides a comprehensive exploration of the structure,
functionality, applications, advantages, and challenges of blockchain technology.
2.2. DEFINATION
At its core, blockchain serves as a secure and distributed ledger, recording and
verifying transactions across a network of interconnected computers. This innovative
system ensures enhanced transparency, security, and trust in the digital domain.
2.3. STRUCTURAL COMPONENTS
The fundamental building blocks of blockchain are the "blocks," each containing a
chronological list of transactions. These blocks are interconnected through
cryptographic hashes, establishing an unalterable and secure record of all transactions.
This structure forms the basis of the technology's resilience against tampering and
fraud.
2.4. DECENTRALIZATION AND NEWORK CONTROL
A distinctive and powerful feature of blockchain is its decentralized nature,
preventing any single entity from having control over the entire network. This
decentralization enhances the reliability and robustness of the system, fostering trust
among participants in the digital ecosystem.
2.5. SECURITY MECHANISMS
The use of cryptographic hashes within the linkage of blocks contributes significantly
to the security of blockchain. This cryptographic underpinning ensures the integrity of
transactions, safeguarding against unauthorized alterations and maintaining a high
level of trust within the network.
2.6. APPLICATION BEYOND CRYPTOCURRENCIES
While blockchain technology gained initial prominence through its association with
cryptocurrencies, particularly Bitcoin, its applications extend far beyond the realm of
finance. For instance:
Supply Chain Management: Blockchain enhances transparency and
traceability in supply chains, reducing fraud and improving efficiency.
Smart Contracts: Self-executing contracts powered by blockchain automate
and enforce contractual agreements, reducing the need for intermediaries.
Decentralized Applications (DApps): Blockchain facilitates the development
of decentralized applications, offering new possibilities for secure and
transparent digital interactions.
2.7. ADVANTAGES
Transparency: Blockchain provides a transparent and immutable ledger,
fostering trust among participants.
Security: The cryptographic security measures ensure the integrity and
confidentiality of transactions.
Efficiency: Streamlined processes, reduced intermediaries, and automated
smart contracts contribute to increased operational efficiency.
2.8. CHALLENGES
Scalability: Blockchain faces challenges in scaling to handle a large number
of transactions simultaneously.
Regulatory Uncertainty: Legal and regulatory frameworks for blockchain
and cryptocurrencies are still evolving.
Energy Consumption: Some blockchain networks, especially those using
proof-of-work consensus, have high energy consumption.
2.9. CONCLUSIONS
In conclusion, Blockchain is redefining our day to day life; be it finances,
Investments, gaming, voting system etc. by providing traditional ways a more secure
digital platform which enhance transparency and fosters trust in the community. It’s
revolutionary in the sense that it continues to involve and has potential to unlock bank
of possibilities in spite of the challenges faced.
Chapter 3
ADDITIONAL LEARNING: TOKENIZATION OF ASSETS
3.1. What are Cryptocurrencies?
Cryptocurrencies are digital tokens. They are a type of digital currency that allows people to make
payments directly to each other through an online system. Cryptocurrencies have no legislated or
intrinsic value; they are simply worth what people are willing to pay for them in the market. This is in
contrast to national currencies, which get part of their value from being legislated as legal tender.
There are a number of cryptocurrencies – the most well-known of these are Bitcoin and Ether.
Activity in cryptocurrency markets has increased significantly. The fascination with these currencies
appears to have been more speculative (buying cryptocurrencies to make a profit) than related to
their use as a new and unique system for making payments. Related to this, there has also been a
high degree of volatility in the prices of many cryptocurrencies. For example, the price of Bitcoin
increased from about US$30,000 in mid 2021 to almost US$70,000 toward the end of 2021 before
falling to around US$35,000 in early 2022. Rival cryptocurrencies like Ether have experienced similar
volatility. The extraordinary interest in cryptocurrencies has also seen a growing amount of
computing power used to solve the complex codes that many of these systems use to help protect
them from being corrupted. Despite the increased level of interest in cryptocurrencies, there is
scepticism about whether they could ever replace more traditional payment methods or national
currencies.
3.2. How Does a Cryptocurrency Transaction
Work?
Cryptocurrency transactions occur through electronic messages that are sent to the entire network
with instructions about the transaction. The instructions include information such as the electronic
addresses of the parties involved, the quantity of currency to be traded, and a time stamp. Suppose
Alice wants to transfer one unit of cryptocurrency to Bob. Alice starts the transaction by sending an
electronic message with her instructions to the network, where all users can see the message. Alice's
transaction is one of a number of transactions that have recently been sent. Since the system is not
instantaneous, the transaction sits with a group of other recent transactions waiting to be compiled
into a block (which is just a group of the most recent transactions). The information from the block is
turned into a cryptographic code and miners compete to solve the code to add the new block of
transactions to the blockchain. Once a miner successfully solves the code, other users of the network
check the solution and reach an agreement that it is valid. The new block of transactions is added to
the end of the blockchain, and Alice's transaction is confirmed. (This confirmation is not instant as it
takes time for six blocks of transactions to be processed so that users can be certain that their
transaction has been successful.
3.3. Is Cryptocurrency Money?
A frequently asked question is whether cryptocurrency can be defined as ‘money’. The short answer
is that cryptocurrency is not a form of money. To understand why, we can ask whether the
characteristics of cryptocurrencies match the key characteristics of money:
• Widely accepted means of payment – can cryptocurrencies be used to buy and sell things? Money
generally comes in the form of a nation's currency, and is widely accepted as a means of payment.
While cryptocurrencies can be used to buy and sell things, they are not widely accepted as a means
of payment, and surveys suggest that only a small fraction of cryptocurrency holders use them
regularly for payments.
• Store of value – can the purchasing power of cryptocurrencies (their ability to purchase a similar
basket of goods and services) be maintained over time? Large fluctuations in the price of many
cryptocurrencies mean that their purchasing power is not maintained over time, reducing their
effectiveness as a store of value.
• Unit of account – are cryptocurrencies a common way of measuring the value of goods and
services? In Australia, the prices of goods and services are measured in Australian dollars. While
some businesses may accept cryptocurrencies as payment, they are not commonly used to measure
and compare prices. So, while cryptocurrencies can be used to make payments, currently their use
as a means of payment is limited and they do not display the key characteristics of money. However,
there is one type of digital currency that could be considered money – digital currency issued by a
central bank.
3.4. Cryptocurrencies v/s Central Bank Digital Currencies
CHARACTERISTIC CRYPTOCURRENCIES CBDCs
Means of payment Accepted by a small number of retailers Universally accepted, legal tender
Store of value Tend to be volatile, depends on market Stable, consistent with central
Price bank price stability mandate
Unit of account Own unit of account Fiat currency
Governance Typically decentralised, Centralised
relies on consensus between
large number of entities.
Transaction verification Typically a large number of Small number of trusted entities
competing entities
3.5. Public Policy Implictaions
Some of the technology behind cryptocurrencies raises a number of considerations for public
policymakers. Given the anonymity provided by cryptocurrency systems, and their worldwide reach,
there are questions about how to limit the use of digital currencies for criminal activities. In addition,
the current fascination with cryptocurrencies has potentially added to the speculative nature of
these markets, and has raised concerns around consumer protection. If cryptocurrencies were to be
more widely adopted, they could also present some challenges for the role of the banking sector and
raise additional financial stability concerns in a crisis. Furthermore, the vast amounts of electricity
used in the mining of cryptocurrency raise concerns about the allocation of resources and
environmental consequences of these payment systems.
3.6. Advantages and Disadvantages of Cryptocurrencies
Advantages
Disadvantages
Inflation Protection
pseudonymous
Transactional Speed a constant
risk of a 51%
Cost Effective Transactions lack of key policies
related to transactions
Decentralization
Diversity
Safe And Secure
3.7. CONCLUSION
A cryptocurrency, crypto-currency, or crypto is a digital currency designed
to work as a medium of exchange through a computer network that is not
reliant on any central authority, such as a government or bank, to uphold
or maintain it. It is a decentralized system for verifying that the parties to
a transaction have the money they claim to have, eliminating the need for
traditional intermediaries, such as banks, when funds are being
transferred between two entities.
