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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?