Bitcoin Blockchain Explained | Understanding Bitcoin and Blockchain | Blockchain Training | Edureka
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The document provides an overview of Bitcoin, detailing its definition, transaction process, and the underlying blockchain technology. It explains how a Bitcoin transaction occurs, including the validation by miners and the permanent addition of blocks to the blockchain. Additionally, it highlights essential features of blockchain, such as its distributed ledger and proof of work.
Bitcoin Blockchain Explained | Understanding Bitcoin and Blockchain | Blockchain Training | Edureka
- 1. Copyright © 2017, edureka and/or its affiliates. All rights reserved. Agenda
- 2. Copyright © 2017, edureka and/or its affiliates. All rights reserved. Agenda For The Session i. What is Bitcoin? ii. How does a Bitcoin transaction take place? iii. What Is Blockchain? iv. Features of Blockchain v. Demo: Bitcoin transaction
- 3. Copyright © 2017, edureka and/or its affiliates. All rights reserved. What Is Bitcoin?
- 4. Copyright © 2017, edureka and/or its affiliates. All rights reserved. What is a Bitcoin? Uses Cr yp tograp h y and Math ematical algor ith ms Fir st Cr yp to - Currency O nly 21 million Bitcoins can b e created Held in electronic distr ib uted ledger
- 5. Copyright © 2017, edureka and/or its affiliates. All rights reserved. Bitcoin Transaction
- 6. Copyright © 2017, edureka and/or its affiliates. All rights reserved. Bitcoin Transaction Let us take a Bitcoin transaction where Thomas wants to transfer 500 BTC to Mathew. The transaction is a part of the new block that will be validated by miners John and Adam. Miner Miner
- 7. Copyright © 2017, edureka and/or its affiliates. All rights reserved. Bitcoin Transaction John and Adam are miners who use their resources to validate the block containing the transaction. Miner Miner
- 8. Copyright © 2017, edureka and/or its affiliates. All rights reserved. Bitcoin Transaction Once the block is validated, money is deducted from Thomas’ account and is transferred to Mathew’s Bitcoin account. Miner Miner
- 9. Copyright © 2017, edureka and/or its affiliates. All rights reserved. Bitcoin Transaction Finally, John gets 12.5 BTC as incentive which becomes the first transaction for the next block. The current block becomes a permanent part of the blockchain. Blockchain Training Miner Miner
- 10. Copyright © 2017, edureka and/or its affiliates. All rights reserved. What is Blockchain?
- 11. Copyright © 2017, edureka and/or its affiliates. All rights reserved. What is Blockchain? is the technology behind BitcoinBlockchain
- 12. Copyright © 2017, edureka and/or its affiliates. All rights reserved. Features of Blockchain
- 13. Copyright © 2017, edureka and/or its affiliates. All rights reserved. Features of Blockchain Distr ib uted P ub lic Ledger Hash Encr yp tion Incentives for Validation P roof O f Work
- 14. Copyright © 2017, edureka and/or its affiliates. All rights reserved. Demo: Bitcoin Transaction
- 15. Copyright © 2017, edureka and/or its affiliates. All rights reserved. Session In A Minute What is Bitcoin? Features of Blockchain Bitcoin Transaction What Is Blockchain?
- 16. Copyright © 2017, edureka and/or its affiliates. All rights reserved. WebDriver vs. IDE vs. RC ➢ Data Warehouse is like a relational database designed for analytical needs. ➢ It functions on the basis of OLAP (Online Analytical Processing). ➢ It is a central location where consolidated data from multiple locations (databases) are stored.