A

MOOC based Seminar Report

BLOCKCHAIN
Shiksha

Submitted in partial fulfillment of the requirement Seminar for the 3rdSemester

SCHOOL OF COMPUTING
GRAPHIC ERA HILL UNIVERSITY HALDWANI CAMPUS
TULARAMPUR, NEAR MAHALAXMI TEMPLE, OPP. MIDDAS SQUAR, HALDWANI,
UTTARAKHAND 263139
2023 - 2024
 HALDWANI CAMPUS

THISIS TO CERTIFY THAT MR. YOGESH KALAKOTI HAS SATISFACTORILY PRESENTED GE

COURSE. THE COURSE OF THE MOOC REGISTRATION _BLOCKCHAIN_IN PARTIAL

FULLFILLMENT OF THE SEMINAR PRESENTATION REQUIREMENT INSECOND SEMESTER OF …

BCA… DEGREE COURSE PRESCRIBED BY GRAPHIC ERA HILL UNIVERSITY, HALDWANI CAMPUS

DURING THE YEAR 2023-2024.

Class MOOC Coordinator:-

Name:-

Signature:-
 HALDWANI CAMPUS

Copy of confirmation-Email/Certificate of Course Completion Received

Modules Attended
S. DATE Details of Modules Attended PAGE Signature
NO. NO.
1 INTRODUCTION 1
2 HISTORY 2
3 STURCTURE AND DESISGN 3
4 TYPES OF BLOCKCHAIN 4
5 FUNDAMENTAL OF BLOCKCHAIN 5
6 ADVANTAGES OF BLOCKCHAIN 6
7 DESADVANTAGES OF BLOCKCHAIN 7
8 USES OF BLOCKCAHAN 8
9 SUMMARY 9
 ACKNOWLEDGEMENT

I would like to express my sincere gratitude to Mr. Gautam Kumar for creating and delivering an
exceptional online learning experience through the BLOCKCHAIN. The depth of knowledge, clarity of
presentation, and the engaging format of the course have made a significant impact on my understanding
of sustainable development system.

Furthermore, I extend my appreciation to the entire future leaner team for their commitment to fostering
a conducive and inclusive learning environment. The seamless delivery of the course content, prompt
responses to queries, and the overall professionalism exhibited by the team have exceeded my
expectations.

I am grateful for the opportunity to be a part of this enriching learning community and for the skills and
insights gained through the Sustainable development system. This course has not only expanded my
expertise but has also inspired a continued pursuit of knowledge in related fields.

Thank you once again to everyone involved in making this online learning experience a truly rewarding
one.

YOGESH KALAKOTI

YOGESH KALAKOTI.230411075@GEHU.AC.IN
 INTRODUCTION

A blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked

together via cryptographic hashes. Each block contains a cryptographic hash of the previous block,

a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are

represented by leaves). Since each block contains information about the previous block, they effectively

form a chain (compare linked list data structure), with each additional block linking to the ones before it.

Consequently, blockchain transactions are irreversible in that, once they are recorded, the data in any

given block cannot be altered retroactively without altering all subsequent blocks.

A blockchain is a distributed database that is shared among the nodes of a computer network.

As a database, a blockchain stores information electronically in digital format. Blockchains are best

known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and

decentralized record of transactions.

Cryptographer David Chaum first proposed a blockchain-like protocol in his 1982 dissertation

"Computer Systems Established, Maintained, and Trusted by Mutually Suspicious Groups". Further

work on a cryptographically secured chain of blocks was described in 1991 by Stuart Haber and W.

Scott Stornetta. They wanted to implement a system wherein document timestamps could not be

tampered with. In 1992, Haber, Stornetta, and Dave Bayer incorporated Merkle trees into the design,

which improved its efficiency by allowing several document certificates to be collected into one

block. Under their company Surety, their document certificate hashes have been published in The New

York Times every week since 1995.

The first decentralized blockchain was conceptualized by a person (or group of people) known

as Satoshi Nakamoto in 2008. Nakamoto improved the design in an important way using a Hashcash-

like method to timestamp blocks without requiring them to be signed by a trusted party and introducing

a difficulty parameter to stabilize the rate at which blocks are added to the chain. The design was

implemented the following year by Nakamoto as a core component of the cryptocurrency bitcoin, where

it serves as the public ledger for all transactions on the network.

STRUCTURE AND DESIGN

A blockchain is a decentralized, distributed, and often public, digital ledger consisting of records

called blocks that are used to record transactions across many computers so that any involved block

cannot be altered retroactively, without the alteration of all subsequent blocks. This allows the

participants to verify and audit transactions independently and relatively inexpensively. A blockchain
database is managed autonomously using a peer-to-peer network and a distributed timestamping server.

They are authenticated by mass collaboration powered by collective self-interests. Such a design

facilitates robust workflow where participants' uncertainty regarding data security is marginal. The use

of a blockchain removes the characteristic of infinite reproducibility from a digital asset. It confirms that

each unit of value was transferred only once, solving the long-standing problem of double-spending. A

blockchain has been described as a value-exchange protocol. A blockchain can maintain title

rights because, when properly set up to detail the exchange agreement, it provides a record that

compels offer and acceptance.

Logically, a blockchain can be seen as consisting of several layers:

 infrastructure (hardware)

 networking (node discovery, information propagation and verification)

 consensus (proof of work, proof of stake)

 data (blocks, transactions)

 application (smart contracts/decentralized applications, if applicable)

Blocks:-

Blocks hold batches of valid transactions that are hashed and encoded into a Merkle tree. Each block

includes the cryptographic hash of the prior block in the blockchain, linking the two. The linked blocks

form a chain. This iterative process confirms the integrity of the previous block, all the way back to the

initial block, which is known as the genesis block (Block 0). To assure the integrity of a block and the

data contained in it, the block is usually digitally signed.

Block time:-
The block time is the average time it takes for the network to generate one extra block in the blockchain.

By the time of block completion, the included data becomes verifiable. In cryptocurrency, this is

practically when the transaction takes place, so a shorter block time means faster transactions. The block

time for Ethereum is set to between 14 and 15 seconds, while for bitcoin it is on average 10 minutes.

Hard forks:-

A hard fork is a change to the blockchain protocol that is not backward compatible and requires all users

to upgrade their software in order to continue participating in the network. In a hard fork, the network

splits into two separate versions: one that follows the new rules and one that follows the old rules .

Decentralization:-

By storing data across its peer-to-peer network, the blockchain eliminates some risks that come with

data being held centrally. The decentralized blockchain may use ad hoc message passing and distributed

networking. In a so-called "51% attack" a central entity gains control of more than half of a network and

can then manipulate that specific blockchain record at will, allowing double-spending. Blockchain

security methods include the use of public-key cryptography. A public key (a long, random-looking

string of numbers) is an address on the blockchain. Value tokens sent across the network are recorded as

belonging to that address. A private key is like a password that gives its owner access to their digital

assets or the means to otherwise interact with the various capabilities that blockchains now support. Data

stored on the blockchain is generally considered incorruptible.

Finality:-

Finality is the level of confidence that the well-formed block recently appended to the blockchain will
not be revoked in the future (is "finalized") and thus can be trusted. Most distributed blockchain
protocols, whether proof of work or proof of stake, cannot guarantee the finality of a freshly committed
block, and instead rely on "probabilistic finality": as the block goes deeper into a blockchain, it is less
likely to be altered or reverted by a newly found consensus.

Openness:-

Open blockchains are more user-friendly than some traditional ownership records, which, while open to
the public, still require physical access to view. Because all early blockchains were permissionless,
controversy has arisen over the blockchain definition. An issue in this ongoing debate is whether a
private system with verifiers tasked and authorized (permissioned) by a central authority should be
considered a blockchain. Proponents of permissioned or private chains argue that the term "blockchain"
may be applied to any data structure that batches data into time-stamped blocks. These blockchains
serve as a distributed version of multiversion concurrency control (MVCC) in databases. Just as MVCC
prevents two transactions from concurrently modifying a single object in a database, blockchains
prevent two transactions from spending the same single output in a blockchain.

Permissionless (public) blockchain:-

An advantage to an open, permissionless, or public, blockchain network is that guarding against bad

actors is not required and no access control is needed. This means that applications can be added to the

network without the approval or trust of others, using the blockchain as a transport layer. Bitcoin and

other cryptocurrencies currently secure their blockchain by requiring new entries to include proof of

work. To prolong the blockchain, bitcoin uses Hashcash puzzles. While Hashcash was designed in 1997

by Adam Back, the original idea was first proposed by Cynthia Dwork and Moni Naor and Eli

Ponyatovski in their 1992 paper "Pricing via Processing or Combatting Junk Mail".

In 2016, venture capital investment for blockchain-related projects was weakening in the USA but

increasing in China. Bitcoin and many other cryptocurrencies use open (public) blockchains. As of

April 2018, bitcoin has the highest market capitalization.

Permissioned (private) blockchain:-

been argued that permissioned blockchains can guarantee a certain level of decentralization, if carefully

designed, as opposed to permissionless blockchains, which are often centralized in practice.

Standardisation:-
In April 2016, Standards Australia submitted a proposal to the International Organization for

Standardization to consider developing standards to support blockchain technology. This proposal

resulted in the creation of ISO Technical Committee 307, Blockchain and Distributed Ledger

Technologies. The technical committee has working groups relating to blockchain terminology,

reference architecture, security and privacy, identity, smart contracts, governance and interoperability

for blockchain and DLT, as well as standards specific to industry sectors and generic government

requirements. More than 50 countries are participating in the standardization process together with

external liaisons such as the Society for Worldwide Interbank Financial Telecommunication (SWIFT),

the European Commission, the International Federation of Surveyors, the International

Telecommunication Union (ITU) and the United Nations Economic Commission for Europe (UNECE).

TYPES OF BLOCKCHAIN

1. Public Blockchain:- These blockchains are completely open to following the idea of

decentralization. They don’t have any restrictions, anyone having a computer and internet can

participate in the network.

only selected nodes can participate in the process, making it more secure than the others.

3. Consortium Blockchain:- This blockchain validates the transaction and also receives

transactions. It is also known as Federated Blockchain.

4. Hybrid Blockchain:-It is the mixed content of the private and public blockchain, where

some part is controlled by some organization and other makes are made visible as a public

blockchain.
 FUNDAMENTALS OF BLOCKCHAIN

1.Public Distributed Ledgers:-

● A blockchain is a decentralized public distributed ledger that is used to record transactions across

many computers.

● A distributed ledger is a database that is shared among the users of the blockchain network.

2. Encryption:-

● Encryption is a crucial part of blockchain technology that helps to secure data and prevent

unauthorized access.

● Each user in the blockchain has their key.

 A blockchain consensus mechanism in which computing in which computing power is used to

verify crypto currency transcations and add them to the blockchain.

 The reason it's called “proof of work” is because the network requires a huge amount of

processing power.

4. Mining:-

● Bitcoin mining refers to the process of validating and recording transactions on the Bitcoin

network.

ADVANTAGES OF BLOCKCHAIN
● One of the major advantages of blockchain technology is that it is accessible to all means anyone

can become a participant in the contribution to blockchain technology.

● Blockchain technology is used to store information in a decentralized manner so everyone can

verify the correctness of the information by using zero-knowledge.

● Records or information which is stored using blockchain technology is permanent means one

needs not worry about losing the data.

● Blockchain removes any third-party intervention between transactions and removes the mistake

making the system efficient and faster. Settlement is made easier and smooth.

DISADVANTAGES OF BLOCKCHAIN

 It is one of the biggest drawbacks of blockchain technology as it cannot be scaled due to the

fixed size of the block for storing information.

 For verifying any transaction a lot of energy is used so it becomes a problem according to the

survey.
  In some countries, the use of blockchain technology applications is banned like cryptocurrency

due to some environmental issues. Blockchain databases are stored on all the nodes of the

network creates an issue with the storage, increasing number of transactions will require more

storage.

USES OF BLOCKCHAIN

Blockchain technology can be integrated into multiple areas. The primary use of blockchains is as

a distributed ledger for cryptocurrencies such as bitcoin; there were also a few other operational

products that had matured from proof of concept by late 2016. As of 2016, some businesses have been

testing the technology and conducting low-level implementation to gauge blockchain's effects on

organizational efficiency in their back office. Blockchain is seen as a pivotal technological advancement

of the 21st century, with the ability to impact organizations at strategic, operational, and market

levels. In 2019, it was estimated that around $2.9 billion were invested in blockchain technology, which

represents an 89% increase from the year prior. Additionally, the International Data Corp estimated that

corporate investment into blockchain technology would reach $12.4 billion by 2022.
Cryptocurrencies:-
 Most cryptocurrencies use blockchain technology to record transactions. For example,

the bitcoin network and Ethereum network are both based on blockchain.

 The criminal enterprise Silk Road, which operated on Tor, utilized cryptocurrency for payments,

some of which the US federal government seized through research on the blockchain

and forfeiture.

 Governments have mixed policies on the legality of their citizens or banks owning

cryptocurrencies. China implements blockchain technology in several industries including

a national digital currency which launched in 2020. To strengthen their respective currencies,

Western governments including the European Union and the United States have initiated similar

projects.

Smart contracts:-
Blockchain-based smart contracts are contracts that can be partially or fully executed or enforced

without human interaction. One of the main objectives of a smart contract is automated escrow. A key

feature of smart contracts is that they do not need a trusted third party (such as a trustee) to act as an

intermediary between contracting entities — the blockchain network executes the contract on its own.

Financial services:-

According to Reason, many banks have expressed interest in implementing distributed ledgers for use

in banking and are cooperating with companies creating private blockchains; according to a September

2016 IBM study, it is occurring faster than expected.

Games:-
Blockchain technology, such as cryptocurrencies and non-fungible tokens (NFTs), has been used in

video games for monetization. Many live-service games offer in-game customization options, such as

character skins or other in-game items, which the players can earn and trade with other players using in-

game currency.

Domain names:-

There are several different efforts to offer domain name services via the blockchain. These domain

names can be controlled by the use of a private key, which purports to allow for uncensorable websites.

This would also bypass a registrar's ability to suppress domains used for fraud, abuse, or illegal content.

SUMMARY

Blockchain is a decentralized, public ledger that stores and shares transactional data in a secure,

transparent, and immutable way. It’s made up of a chain of blocks, where each block contains a record

of a transaction. The blocks are linked together by a unique reference to the previous block, creating a

chronological database.