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All the syllabus of block chain technologies of JNTUK
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Blockchain is a distributed ledger technology that allows multiple parties to maintain a shared database without relying on a central authority. It is the underlying technology behind cryptocurrencies like Bitcoin, but its applications go far beyond digital currencies. "Blockchain is a revolutionary technology that serves as a secure and decentralized digital ledger. Unlike traditional systems controlled by central authorities, blockchain operates on a network of computers distributed worldwide. It's best known for powering cryptocurrencies like Bitcoin, but its applications extend far beyond digital money. At its core, blockchain ensures trust, transparency, and immutability in transactions, making it a promising solution for a wide range of industries, from finance and supply chain management to healthcare and voting systems." BASIC IDEAS BEHIND BLOCK CHAIN: Blockchain is a method of recording information that makes it impossible or difficult for the system to be changed, hacked, or manipulated. A blockchain is a distributed ledger that duplicates and distributes transactions across the network of computers participating in the blockchain.
BLOCK CHAIN or DISTRIBUTED TRUST: Blockchain --->is a complex technology, but its value proposition is very simple. Distributed trust --->this means you can trust the network, without trusting anyone - or anything on the network. Blockchain and distributed trust are closely related concepts, with blockchain technology being a key enabler of distributed trust. Let's explore both terms: Blockchain : ➢ Blockchain is a decentralized and distributed ledger technology that records transactions across multiple computers or nodes in a network. ➢ It uses cryptographic techniques to secure data and ensure its immutability, transparency, and integrity. ➢ Transactions are grouped into blocks, and each block is linked to the previous one, forming a chain. ➢ Blockchain technology is often associated with cryptocurrencies like Bitcoin, but it has broader applications in various industries, such as finance, supply chain, healthcare, and more. ➢ It eliminates the need for centralized intermediaries by allowing trust to be established among participants in a peer-to-peer network. Distributed Trust : ➢ Distributed trust refers to the establishment of trust and confidence in a decentralized network without relying on a single central authority or intermediary.
➢ In a distributed trust system, trust is distributed across multiple nodes or participants who collectively validate and verify transactions. ➢ Trust is established through consensus mechanisms, cryptographic techniques, and the transparency of the ledger. ➢ Distributed trust is a fundamental concept in blockchain technology, as it enables transactions to be verified and accepted by the network without the need for a central entity. CURRENCY: Currency in the context of blockchain typically refers to digital or cryptocurrencies that are native to a particular blockchain network. These digital currencies are used as a medium of exchange within the blockchain ecosystem and have unique characteristics due to the underlying technology. Here's an explanation of currency in blockchain:
Cryptocurrency is a type of digital or virtual currency that operates on blockchain technology. It is one of the most well-known and widely adopted use cases for blockchain.