Overview on Blockchain
- 1. DIGITAL TRANSACTIONS USING ETHEREUM BLOCKCHAIN Presented by : Raviteja avadhanula Innogeecks technologies
- 2. WHY I CHOSE THIS PROJECT?
- 3. GOAL OF THE PROJECT To design a distributed web application for transacting money from an account to other using ethereum platform and blockchain technology. No one can change the transaction details as the data entered is immutable.
- 4. WHAT ACTUALLY A BLOCKCHAIN IS • The first 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 where documents' timestamps could not be tampered with or back dated. First blockchain was implemented by Satoshi Nakamoto in 2008 • Simply, a blockchain is cryptographically linked blocks which holds list of stored records of different transactions. No one can alter the blockchain (change the data in the blocks).It is managed by a P2P networks collectively adhering to a protocol for inter node communication
- 5. HASH Every person has a particular signature or fingerprint. Similarly, Hash is to a block. It is determined by SHA256 algorithm an of length 64 and size 256 bits.
- 7. MINING There will be some hundreds of transactions going on at the same time. So, these are to be placed in a block. Miners allocate some bunch of transactions into a block and get rewarded. This process is called mining
- 8. SMART CONTRACTS Smart contracts help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman. They act as a deal between the buyer and seller without involvement of a third party. It holds the details of the transaction.
- 9. REMIX Remix is a web browser based IDE used to deploy our smart contracts written in solidity language onto our rpc account with web3 provider environment.
- 10. METAMASK It is a browser extension for Ethereum. There will different networks like mainnet (real time), ropsten and rinkesby (for developers),localhost (own network).
- 11. TESTRPC It is ethereum client which simulates the Ethereum blockchain used for testing and development purposes. By default, it is gives 10 private accounts with their private keys.
- 13. SAMPLE FRONT END OF THE APPLICATION
- 14. IMPLEMENTATION
- 15. 1. RUNNING THE TESTRPC
- 16. 2. DEPLOYING THE CONTRACT IN REMIX IDE ON LOCAL NETWORK
- 17. 3. OPENING THE DOCUMENT IN LOCALHOST
- 18. 4. GIVING TH INPUTS.
- 20. OUTPUT SHOWN
- 21. A QUICK DEMO
- 22. THANK YOU