Blockchain A Technology Of Trust Training Ppt

Slide 1

This slide contains information about the consensus mechanism in the blockchain along with its various examples such as proof of work, proof of stake, delegated proof of stake, proof of capacity etc.

Slide 2

This slide provides information regarding the definition of provenance with an example and how blockchain uses the concept of provenance to generate trust.

Slide 3

This slide indicates the immutability feature of blockchain which makes it trustworthy. It also includes details of the benefits of blockchain immutability such as data integrity, simplified auditing, and increased efficiencies.

Instructor’s Notes:

Multiple benefits of blockchain immutability are as follows:

• Data Integrity: When data is entered into a blockchain network, it requires approval of all the other nodes in the blockchain. Once the approval is given, the data gets added to the blockchain
• Simplifies Auditing: Blockchain’s distributed ledger can produce a complete history of business transactions  making auditing an easy process for the organization
• Increases Efficiencies: Blockchain helps an organization save time and cost in audits and data validations, helping it focus on increasing operational efficiencies

Slide 4

This slide explains the importance of finality in trust generation in blockchain technology. It also contains information regarding the introduction and different types such as probabilistic, and absolute finality.

Instructor’s Notes:

Different types of finality in blockchain are as follows:

• Absolute Finality: In the blockchain, a transaction is immediately considered finalized once it is included in a block. Usually, this happens when the protocols used are based on PBFT (Practical Byzantine Fault Tolerance)
• Probabilistic Finality: If the chances of a transaction being reverted are high in the blockchain, it is known as probabilistic finality. It happens in the rare event of forking in a blockchain