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TY Unit No 6 Blockchain in Banking  Sector

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TY Unit No 6 Blockchain in Banking  Sector

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TY Unit No 6 Blockchain in Banking Sector

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Unit 2 Traditional and Defi Financial Services

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TY CSBS HONORS Course Cryptocurrency Questions for Tutorials

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Tutorial Questions  SY CSBS Blockchain Platforms and Use cases

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Unit No 4 Blockchain Challenges and Solution

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Unit No 4 Blockchain Challenges and Solution

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Unit No 4 Blockchain Challenges and Solution

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Unit 3 Part 2 : Grid+ Smart Energy Platform

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Unit 3 Part 2 : Grid+ Smart Energy Platform

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Unit 3 Part 1 : Market Prediction Platform

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Unit 3 Part 1 : Market Prediction Platform

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What is a Market Prediction Platform and Augur

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// SPDX-License-Identifier: MIT
pragma solidity ^0.8.0;
contract Bank
{

mapping(address=>uint256) private balances;

address public owner;
event Deposit(address indexed account, uint256 amount);
event WithDrawal(address indexed account, uint256 amount);
event Transfer (address indexed from, address indexed  to, uint256 amount);

modifier onlyOwner
{
   require(msg.sender == owner, "Not Authorized. Only contract Owner can execute this");
    _;
}

constructor()
{

owner=msg.sender;

}

function deposit() public  payable {
require(msg.value> 0, "Deposit Amount should be greater than zero");
balances[msg.sender]=balances[msg.sender]+msg.value;
emit Deposit(msg.sender, msg.value);
}

function withdrawal(uint256 amount)public  {
require(amount > 0, "Withdrawal Amount should be greater than zero");
require (balances[msg.sender] >= amount,"Insufficient Balance");
balances[msg.sender]-=amount;
payable(msg.sender).transfer(amount);

emit WithDrawal(msg.sender,amount);

}

function transfer(address recipient, uint256 amount)public  {
require (amount >0, "Transfer musbt be grater than Zero");
require (balances[msg.sender] >= amount,"Insufficient Balance");
require (recipient != address(0),"No valid address");
balances[msg.sender]-=amount;
balances[recipient]+=amount;
emit Transfer (msg.sender, recipient, amount);

}

function getBalance()public view returns(uint256)
{
return balances[msg.sender];
}



function getAccountBalance(address account)public view onlyOwner returns(uint256)
{

return balances[account];
}
}

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Sample Bank Contract Using Solidity Programming

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Unit 4 : Introduction to Solidity Basics (SEM 3 Unit 3 CSBS Honors)

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Unit 4 : Introduction to Solidity Basics (SEM 3 Unit 3 CSBS Honors)

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Unit 2 IOTA and Others With Tutorial No. 2

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Unit 2 IOTA and Others With Tutorial No. 2

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Unit 2 : Basics of DAG in IOTA( Internet of Things Application )

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Unit 2 : Basics of DAG in IOTA( Internet of Things Application )

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Unit 2 Detailed Working of DAG in IOTA with an Easy Example

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S.Y. CSBS B Tech Honors Tutorials SEM IV

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Microsoft Azure Blockchain Platform Architecture and Use Case Unit 2

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Components and Services with Case Studies

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Components and Services with Case Studies

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Blockchain and its Applications - Course

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The course is free to enroll and learn from. But if you want a certificate, you have to register and write the proctored exam conducted by us in person at any of the designated exam centres.

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SEM 3 Unit 3 Details of Hyperledger and Ethereum

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SEM 3 Unit 3 Details of Hyperledger and Ethereum

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Hyperledger vs Ethereum in Blockchain - GeeksforGeeks

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A Computer Science portal for geeks. It contains well written, well thought and well explained computer science and programming articles, quizzes and practice/competitive programming/company interview Questions.

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Building Blockchain Projects: Building Decentralized Blockchain Applications With Ethereum And Solidity

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Building Blockchain Projects: Building Decentralized Blockchain Applications With Ethereum And Solidity

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Who is this course for?

This course is for experienced programmers. If you don't already know how to code, we suggest picking up Python or JavaScript first then coming back.

If you are new to Solidity, start at the beginning.

However, Solidity developers of all levels can benefit from the resources here - in the later sections discuss very advanced topics such as how Tornado Cash works. We also have the only protocol walkthrough of the Compound V3 codebase.

The only paid bootcamp with a free curriculum

Other bootcamps charge hundreds, sometimes thousands of dollars just to see their curriculum. At RareSkills, we believe the entire community benefits when high quality education is freely available. And by free we mean truly free - not gated with an email we can monetize later.

The work is truly a public good.

We do hope you will sign up for our bootcamp though! You'll get time with instructors and a community who have secured billions of dollars in TLV (total locked value).

RareSkills Quality

Although this is not a smart contract security course per se, smart contract security researchers regularly refer to the resources here. Our philosophy is that security comes from deeply understanding what you are doing.

Therefore, we don't create a large list of topics just for the sake of it. We deeply examine non-obvious issues that even experienced Solidity engineers sometimes miss; having taught many through our Solidity Bootcamp we know where the knowledge gaps frequently lie.

Deep understanding should be the expectation for anyone writing code than manages other people's crypto. As such, our tutorials prioritize generating strong mental models even if it takes more effort to do so.

Finally, we encourage you to compare our tutorials with others on the same subject (and those generated by an AI chatbot).

We are sure you will be impressed at the level of depth, comprehensiveness, and clarity our articles achieve.

No email required! This is for experienced programmers who want to get to the point quickly and immediately practice the information they just gained in a highly optimized topic order. We emphasize the unexpected and unusual aspects of the Solidity language while glossing over things we can reasonably assume to be obvious to a competent developer. Aside from an occasional humorous remark, we've made the tutorials as short as possible (but not shorter). Although this is a solidity beginner tutorial, it is intended for experienced coders.

There is a distinction between knowing a language, and knowing a domain. Knowing Python doesn't make you a data scientist, knowing Javascript doesn't make you a frontend developer, and knowing Kotlin does not make you an Android developer. Similarly, knowing Solidity does not make you an Ethereum smart contract developer. However, Solidity is a prerequisite for developing smart contracts.

Uniswap V2 is the most forked protocol in DeFi and has inspired several more. The Uniswap V2 Book is a line-by-line examination of the protocol.

Compound V2 is the most forked lending protocol, but it is no longer used, so our walkthrough focuses on Compound V3. Nearly every modern lending protocol takes inspiration from Compound, so if you completely understand the codebase, you will easily be able to understand other DeFi lending protocols.

Subscribe to our newsletter

We do not sell your information to anyone. Period.

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Learn Solidity With This Free Tutorial By RareSkills

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Learn solidity for free with this latest and updated tutorial. No email required! This free tutorial covers basics concepts of solidity language by RareSkills

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Comparison Of Blockchain 1 0 Vs Blockchain 2 0 Vs Blockchain 3 0 Vs Blockchain 4 0 Training Ppt

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Get Comparison Of Blockchain 1 0 Vs Blockchain 2 0 Vs Blockchain 3 0 Vs Blockchain 4 0 Training Ppt PowerPoint presentation templates and google slides done by an expert

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Different Version of BlockChain - GeeksforGeeks

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A Computer Science portal for geeks. It contains well written, well thought and well explained computer science and programming articles, quizzes and practice/competitive programming/company interview Questions.

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EthFiddle - Solidity in the Browser. Powered By Loom Network

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#1 Solidity code sharing site. Share Solidity code snippets with friends, or check out cool code snippets from around the web.

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S. Y. B Tech Honors Blockchain Technology Tutorials List

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S. Y. B Tech Honors Blockchain Technology Tutorials List

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Solidity for Beginners · Smart Contract Development Crash Course | Dapp University

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Today I’m going to show you how to get started programming with the Solidity so that you can become a blockchain developer. I’ll show you how to write your first Ethereum smart contracts with Solidity as a beginner! You don’t have know anything about the language to get started with this tutorial. We’ll even do all the programming inside your web browser so you won’t have install any development tools or anything like that.

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SEM 3 Unit 1 Introduction to Blockchain and Cryptography

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SEM 3 Unit 1 Introduction to Blockchain and Cryptography

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Distributed vs. Decentralized Systems - GeeksforGeeks

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A Computer Science portal for geeks. It contains well written, well thought and well explained computer science and programming articles, quizzes and practice/competitive programming/company interview Questions.

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Centralized, Distributed and Decentralised 

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Centralized, Distributed and Decentralised 

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Centralized vs. Decentralized vs. Distributed Systems - GeeksforGeeks

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A Computer Science portal for geeks. It contains well written, well thought and well explained computer science and programming articles, quizzes and practice/competitive programming/company interview Questions.

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Transaction Fees Calculation in Bitcoin (SEM 3 Unit 2 CSBS Honors)

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Transaction Fees Calculation in Bitcoin (SEM 3 Unit 2 CSBS Honors)

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Bitcoin, the pioneering cryptocurrency, offers businesses a world of new opportunities. However, navigating its unique transaction fee structure presents a challenge. Distinct from conventional bank fees, which are usually proportional to the transfer amount, Bitcoin charges fees based on the data size of the transaction, measured in bytes. This article delves into the nuts and bolts of Bitcoin fee calculation, highlighting its differences from other blockchains, and the unique challenges and solutions it presents for businesses.

Bitcoin transaction fees are paid to miners as an incentive to include your transaction in the next block of transactions on the blockchain. The fee is not set by any central authority; This is decided by market demand and willingness of users to pay, and based on the size of the transaction data, not the value of the bitcoins sent.

In Bitcoin transactions, fees are calculated based on the transaction's data size in bytes, rather than the amount of Bitcoin being transferred. Each transaction comprises inputs, which indicate the source of the Bitcoin, and outputs, the destination. The number of inputs and outputs influences the transaction size. More inputs and outputs mean a larger transaction size.If you have received many small transactions and you are now sending Bitcoin, your transaction will need to include all these small inputs, making it larger in size. Miners give priority to transactions offering a higher fee per byte.The fee rate is usually measured in satoshis per byte (sat/b). A Satoshi is the smallest unit of Bitcoin, equal to 100 millionth of a Bitcoin.

To calculate the fee for your transaction, you need to know the transaction size and the fee rate.

1. Estimate Transaction Size: A typical transaction input is about 148 bytes, and each output is about 34 bytes. The transaction also requires an additional 10 bytes overhead.

2. Select Fee Rate: You can find the current average fee rate from various Bitcoin fee estimation services or Bitcoin wallets which often provide a recommended fee rate.

3. Calculate the Fee: Multiply the transaction size (in bytes) by the fee rate (sat/b).

When calculating the fee for a Bitcoin transaction with two inputs and two outputs, the size of the transaction can be approximated using a standard formula. Each input typically requires about 148 bytes, and each output about 34 bytes. Adding a fixed overhead of 10 bytes for the transaction itself, the calculation is as follows:

Size of inputs: 2 inputs × 148 bytes/input = 296 bytes

Size of outputs: 2 outputs × 34 bytes/output = 68 bytes

Fixed overhead: 10 bytes

Therefore, the total size of the transaction is 296 bytes (inputs) + 68 bytes (outputs) + 10 bytes (overhead) = 374 bytes.
Given a fee rate of 50 satoshis per byte, the total fee for this transaction can be calculated by multiplying the transaction size by the fee rate:

Transaction fee = 374 bytes × 50 satoshis/byte = 18,700 satoshis

So, for this transaction, at a fee rate of 50 satoshis per byte, the total fee would be 18,700 satoshis.

Every Bitcoin transaction is made up of inputs and outputs, which collectively determine the transaction's size. Larger transactions, in terms of data size, require more processing power and thus incur higher fees.

Unlike Bitcoin, other blockchains may have different fee structures. For instance, Ethereum calculates fees based on the computational complexity, bandwidth use, and storage needs, known as gas fees. Understanding these differences is essential for businesses operating across multiple cryptocurrencies.

Managing Bitcoin fees poses several distinct challenges for businesses. The volatility of Bitcoin's transaction fees makes cost prediction difficult, leading to budgetary uncertainties. Additionally, opting for lower fees can result in slower transaction confirmations, potentially impacting business operations that rely on timely payments. Moreover, accurately calculating the fees necessitates a deep understanding of the Bitcoin network and its current conditions, adding a layer of complexity for businesses, especially those new to cryptocurrency. These challenges require careful consideration and strategy for businesses to effectively incorporate Bitcoin transactions into their financial practices.

In the context of managing the complexities of Bitcoin transaction fees and sizes, two Solutions stand out: Segregated Witness (SegWit) and Taproot. These solutions play a pivotal role in reducing transaction sizes, thereby directly impacting the fees and efficiency for businesses engaging in Bitcoin transactions.

Segregated Witness (SegWit) is a Bitcoin protocol upgrade that addresses transaction malleability and optimizes block space usage. It segregates the digital signature from transaction data, reducing transaction size and thereby decreasing fees. For businesses, SegWit transactions offer a twofold advantage. First, they reduce transaction fees due to their smaller data size. Second, SegWit's resolution of the transaction malleability issue opens the door for more complex Bitcoin-based applications, enhancing the blockchain's utility for business operations.

Taproot, a more recent upgrade following SegWit, further refines the efficiency and privacy of Bitcoin transactions. It introduces a new signing method and the Merkelized Abstract Syntax Tree (MAST), enabling the consolidation of multiple transaction conditions into one, reducing data volume and transaction fees. Businesses leveraging Bitcoin can greatly benefit from Taproot in terms of reduced transaction fees and enhanced privacy. The ability to combine multiple transaction conditions into a single, more compact transaction not only saves space on the blockchain but also minimizes costs associated with larger transaction sizes. Additionally, the enhanced privacy features of Taproot are essential for businesses that prioritize confidential and secure transactions.

To reduce Bitcoin transaction fees, businesses can adopt several strategies. Consolidating multiple small inputs into fewer transactions during periods of low fee rates can significantly reduce the size and cost of transactions. Timing is also crucial; transacting during less busy network periods can lead to lower fees due to decreased demand. Additionally, utilizing economical protocols like Segregated Witness (SegWit) and Taproot can further decrease transaction sizes.Implementing these approaches can help businesses manage and reduce their Bitcoin transaction costs efficiently.

Understanding Bitcoin transaction fees is fundamental for businesses considering integrating Bitcoin into their operations. By leveraging the expertise and service of crypto payment gateway, businesses can navigate the complexities of Bitcoin transactions, ensuring efficiency and cost-effectiveness.

In this digital age, adapting to cryptocurrency is not just a choice but a necessity for businesses looking to thrive. With the right knowledge and tools, the journey into Bitcoin and other cryptocurrencies can be a rewarding on.

In this digital age, adapting to cryptocurrency is not just a choice but a necessity for businesses looking to thrive. With the right knowledge and tools, the journey into Bitcoin and other cryptocurrencies can be a rewarding on.

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How to Calculate Bitcoin Transaction Fees: What Businesses Need to Know About Bitcoin

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Bitcoin, the pioneering cryptocurrency, offers businesses a world of new opportunities. However, navigating its unique transaction fee structure presents a challenge. Distinct from conventional bank...

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Secp256k1: A Key Algorithm in Cryptocurrencies

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The curve is defined by the Standards for Efficient Cryptography Group (SECG) and represents a specific instance of an elliptic curve over a finite field. This article will explore the significance of

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Cryptocurrency’s rocky road! Explore the forgotten attempts at digital cash (Flooz, E-Gold) & why they failed. Paved the way for Bitcoin?

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Zero-Knowledge Proof (ZKP) — Explained | Chainlink

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Zero-knowledge proofs (ZKPs) are a cryptographic method used to prove knowledge about a piece of data, without revealing the data itself.

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Blockchain Data Storage Dilemma: On-chain vs Off-chain

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Blockchain Data Storage Dilemma: On-chain vs Off-chain

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Blockchain Data Storage Dilemma: On-chain vs Off-chain

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As the blockchain ecosystem continues to mature, the question of how to effectively store and manage data on the blockchain has become…

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Distributed hash table technology vs Bitcoin blockchain

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What is blockchain security?

Blockchain security is a comprehensive risk management system for a blockchain network, using cybersecurity frameworks, assurance services and best practices to reduce risks against attacks and fraud

Basic blockchain security

Blockchain technology produces a structure of data with inherent security qualities. It's based on principles of cryptography, decentralization and consensus, which ensure trust in transactions. In most blockchains or distributed ledger technologies (DLT), the data is structured into blocks and each block contains a transaction or bundle of transactions. Each new block connects to all the blocks before it in a cryptographic chain in such a way that it's nearly impossible to tamper with. All transactions within the blocks are validated and agreed upon by a consensus mechanism, ensuring that each transaction is true and correct.

Blockchain technology enables decentralization through the participation of members across a distributed network. There is no single point of failure and a single user cannot change the record of transactions. However, blockchain technologies differ in some critical security aspects.

How security differs by blockchain types

Blockchain networks can differ in who can participate and who has access to the data. Networks are typically labeled as either public or private, which describes who is allowed to participate, and permissioned or permissionless, which describes how participants gain access to the network.

Public and private blockchains
Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or "miners," try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network.

Private blockchains use identity to confirm membership and access privileges and typically only permit known organizations to join. Together, the organizations form a private, members-only "business network." A private blockchain in a permissioned network achieves consensus through a process called "selective endorsement," where known users verify the transactions. Only members with special access and permissions can maintain the transaction ledger. This network type requires more identity and access controls.

When building a blockchain application, it's critical to assess which type of network will best suit your business goals. Private and permissioned networks can be tightly controlled and preferable for compliance and regulatory reasons. However, public and permissionless networks can achieve greater decentralization and distribution.

Private blockchains are restricted and usually limited to business networks. A single entity, or consortium, controls membership.

Permissioned blockchains are limited to a select set of users who are granted identities using certificates.

While blockchain technology produces a tamper-proof ledger of transactions, blockchain networks are not immune to cyberattacks and fraud. Those with ill intent can manipulate known vulnerabilities in blockchain infrastructure and have succeeded in various hacks and frauds over the years. Here are a few examples:
Code exploitation

The Decentralized Autonomous Organization (DAO), a venture capital fund operating through a decentralized blockchain, inspired by Bitcoin, was robbed of more than USD 60 million worth of ether digital currency - about a third of its value - through code exploitation.

Stolen keys

A theft of nearly USD 73 million worth of customers' bitcoins from one of the world's largest cryptocurrency exchanges, Hong-Kong-based Bitfinex, demonstrated that the currency is still a big risk. The likely cause was stolen private keys, which are personal digital signatures.

Employee computer hacked

When Bithumb, one of the largest Ethereum and bitcoin cryptocurrency exchanges, was recently hacked, the hackers compromised 30,000 users' data and stole USD 870,000 worth of bitcoin. Even though it was an employee's computer that was hacked - not the core servers - this event raised questions about the overall security.

How fraudsters attack blockchain technology

Hackers and fraudsters threaten blockchains in four primary ways: phishing, routing, Sybil and 51% attacks.
Phishing attacks
Phishing is a scamming attempt to attain a user's credentials. Fraudsters send wallet key owners emails designed to look as though they're coming from a legitimate source. The emails ask users for their credentials using fake hyperlinks. Having access to a user's credentials and other sensitive information can result in losses for the user and the blockchain network.
Routing attacks
Blockchains rely on real-time, large data transfers. Hackers can intercept data as it's transferring to internet service providers. In a routing attack, blockchain participants typically can't see the threat, so everything looks normal. However, behind the scenes, fraudsters have extracted confidential data or currencies.
Sybil attacks
In a Sybil attack, hackers create and use many false network identities to flood the network and crash the system. Sybil refers to a famous book character diagnosed with a multiple identity disorder.
51% attacks
Mining requires a vast amount of computing power, especially for large-scale public blockchains. But if a miner, or a group of miners, could rally enough resources, they could attain more than 50% of a blockchain network's mining power. Having more than 50% of the power means having control over the ledger and the ability to manipulate it.

Note: Private blockchains are not vulnerable to 51% attacks.

In today's digital world it is essential to take steps to ensure the security of both your blockchain design and environment. X-Force Red blockchain testing services can help you do just that.
Explore X-Force Red blockchain testing services

Blockchain security for the enterprise

When building an enterprise blockchain application, it's important to consider security at all layers of the technology stack, and how to manage governance and permissions for the network. A comprehensive security strategy for an enterprise blockchain solution includes using traditional security controls and technology-unique controls. Some of the security controls specific to enterprise blockchain solutions include:

Employ experts to help you design a compliant and secure solution and help you achieve your business goals. Look for a production-grade platform for building blockchain solutions that can be deployed in the technology environment of your choosing, whether that is on-premises or your preferred cloud vendor.
Explore IBM Hyper Protect Digital Assets Platform

Blockchain security tips and best practices

When designing a blockchain solution, consider these key questions:

What is the governance model for participating organizations or members?

What data will be captured in each block?

What are the relevant regulatory requirements, and how can they be met?

How are the details of identity managed? Are block payloads encrypted? How are the keys managed and revoked?

What is the disaster recovery plan for the blockchain participants?

What is the minimal security posture for blockchain clients for participation?

What is the logic for resolving blockchain block collisions?

When establishing a private blockchain, ensure that it's deployed in a secure, resilient infrastructure. Poor underlying technology choices for business needs and processes can lead to data security risks through their vulnerabilities.

Consider business and governance risks. Business risks include financial implications, reputational factors and compliance risks. Governance risks emanate primarily from blockchain solutions' decentralized nature, and they require strong controls on decision criteria, governing policies, identity and access management.

Blockchain security is about understanding blockchain network risks and managing them. The plan to implement security to these controls makes up a blockchain security model. Create a blockchain security model to ensure that all measures are in place to adequately secure your blockchain solutions.

To implement a blockchain solution security model, administrators must develop a risk model that can address all business, governance, technology and process risks. Next, they must evaluate the threats to the blockchain solution and create a threat model. Then, administrators must define the security controls that mitigate the risks and threats based on the following three categories:

Enforce security controls that are unique to blockchain

Apply conventional security controls

Enforce business controls for blockchain

IBM Blockchain services and consulting can help you design and activate a blockchain network that addresses governance, business value and technology needs while assuring privacy, trust and security.
Build securely with IBM Blockchain services and consulting

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Get an in-depth look at the leading open-source blockchain for the business platform: developer tools, pricing, product tours, customer reviews and documentation.
Build on the leading blockchain platform

IBM Blockchain Solutions
Connect with experts, read some client success stories and learn how to join an IBM network.
Explore all blockchain solutions

IBM Blockchain Services
With more than 1,600 business and technical experts-leaders in building a blockchain for business from the ground up-IBM can help you address the three most critical design points in bringing a blockchain for a business network to life: governance, business value and technology.
Learn about blockchain consulting

Explore our informational guides to gain a deeper understanding of various aspects of blockchain such as how it works, ways to use it and considerations for implementation.

Blockchain Topics What is blockchain Benefits of blockchain Smart contracts Blockchain for business Blockchain for good Blockchain and IoT Hyperledger

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Blockchain security is defined as a blockchain network risk management system for enterprise-level business.

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This presentation has been prepared by Dr. Mushtaq Ahmed from MNIT,Jaipur. It is used here only for reference.

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Blockchain Cryptographic Security, Hashing and Digital Signature

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Blockchain use cases Non-Fungible Token NFT I SettleMint

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NFTs are digital tokens that represent ownership of a unique digital or physical item. But how do they work, where does blockchain come in, and what opportunities do they offer?

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What Is a Non-Fungible Token (NFT)?

Non-fungible tokens (NFTs) are assets that have been tokenized via a blockchain. They are assigned unique identification codes and metadata that distinguish them from other tokens.

NFTs can be traded and exchanged for money, cryptocurrencies, or other NFTs-it all depends on the value the market and owners have placed on them. For instance, you could use an exchange to create a token for an image of a banana. Some people might pay millions for the NFT, while others might think it worthless.

Cryptocurrencies are tokens as well; however, the key difference is that two cryptocurrencies from the same blockchain are interchangeable-they are fungible. Two NFTs from the same blockchain can look identical, but they are not interchangeable.

History of Non-Fungible Tokens (NFTs)

NFTs were created long before they became popular in the mainstream. Reportedly, the first NFT sold was "Quantum," designed and tokenized by Kevin McKoy in 2014 on one blockchain (Namecoin), then minted and sold in 2021 on Ethereum.

NFTs are built following the ERC-721 (Ethereum Request for Comment #721) standard, which dictates how ownership is transferred, methods for confirming transactions, and how applications handle safe transfers (among other requirements). The ERC-1155 standard, approved six months after ERC-721, improves upon ERC-721 by batching multiple non-fungible tokens into a single contract, reducing transaction costs.

How NFTs Work

NFTs are created through a process called minting, in which the information of the NFT is recorded on a blockchain. At a high level, the minting process entails a new block being created, NFT information being validated by a validator, and the block being closed. This minting process often entails incorporating smart contracts that assign ownership and manage the transferability of the NFT.

As tokens are minted, they are assigned a unique identifier directly linked to one blockchain address. Each token has an owner, and the ownership information (i.e., the address in which the minted token resides) is publicly available. Even if 5,000 NFTs of the same exact item are minted (similar to general admission tickets to a movie), each token has a unique identifier and can be distinguished from the others.

Blockchain and Fungibility

Like physical money, cryptocurrencies are usually fungible from a financial perspective, meaning that they can be traded or exchanged, one for another. For example, one bitcoin is always equal in value to another bitcoin on a given exchange, similar to how every dollar bill of U.S. currency has an implicit exchange value of $1. This fungibility characteristic makes cryptocurrencies suitable as a secure medium of transaction in the digital economy.

For this reason, NFTs shift the crypto paradigm by making each token unique and irreplaceable, making it impossible for one non-fungible token to be "equal" to another. They are digital representations of assets and have been likened to digital passports because each token contains a unique, non-transferable identity to distinguish it from other tokens. They are also extensible, meaning you can combine one NFT with another to create a third, unique NFT.

Examples of NFTs

Perhaps the most famous use case for NFTs is that of cryptokitties. Launched in November 2017, cryptokitties are digital representations of cats with unique identifications on Ethereum's blockchain. Each kitty is unique and has a different price. They "reproduce" among themselves and create new offspring with other attributes and valuations compared to their "parents."

Within a few short weeks of their launch, cryptokitties racked up a fan base that spent $20 million worth of ether to purchase, feed, and nurture them. Some enthusiasts even spent upward of $100,000 on the effort. More recently, the Bored Ape Yacht Club has garnered controversial attention for its high prices, celebrity following, and high-profile thefts of some of its 10,000 NFTs.

Much of the earlier market for NFTs was centered around digital art and collectibles, but it has evolved into much more. For instance, the popular NFT marketplace OpenSea has several NFT categories:

Photography: Photographers can tokenize their work and offer total or partial ownership. For example, OpenSea user erubes1 has an "Ocean Intersection" collection of beautiful ocean and surfing photos with several sales and owners.

Sports: Collections of digital art based on celebrities and sports personalities.

Trading cards: Tokenized digital trading cards. Some are collectibles, while others can be traded in video games.

Utility: NFTs that can represent membership or unlock benefits.

Virtual worlds: VIrtual world NFTs grant you ownership of anything from avatar wearables to digital property.

Art: A generalized category of NFTs that includes everything from pixel to abstract art

Collectibles: Bored Ape Yacht Club, Crypto Punks, and Pudgy Panda are some examples of NFTs in this category

Domain names: NFTs that represent ownership of domain names for your website(s)

Music: Artists can tokenize their music, granting buyers the rights the artist wants them to have

Benefits of Non-Fungible Tokens

Perhaps, the most apparent benefit of NFTs is market efficiency. Tokenizing a physical asset can streamline sales processes and remove intermediaries. NFTs representing digital or physical artwork on a blockchain can eliminate the need for agents and allow sellers to connect directly with their target audiences (assuming the artists know how to host their NFTs securely).

NFTs can also be used to streamline investing. For example, consulting firm Ernst & Young has already developed an NFT solution for one of its fine wine investors-by storing wine in a secure environment and using NFTs to protect provenance.

Real estate can also be tokenized-a property could be parceled into multiple sections, each containing different characteristics. For example, one of the sections might be on a lakeside, while another is closer to the forest. Depending on its features, each piece of land could be unique, priced differently, and represented by an NFT. Real estate trading, a complex and bureaucratic affair, could then be simplified by incorporating relevant metadata into a unique NFT associated with only the corresponding portion of the property.

NFTs can represent ownership in a business, much like stocks-in fact, stock ownership is already tracked via ledgers that contain information such as the stockholder's name, date of issuance, certificate number, and the number of shares. A blockchain is a distributed and secured ledger, so issuing NFTs to represent shares serves the same purpose as issuing stocks. The main advantage to using NFTs and blockchain instead of a stock ledger is that smart contracts can automate ownership transferral-once an NFT share is sold, the blockchain can take care of everything else.

Non-fungible tokens are also very useful in identity security. For example, personal information stored on an immutable blockchain cannot be accessed, stolen, or used by anyone that doesn't have the keys.

NFTs can also democratize investing by fractionalizing physical assets like real estate. It is much easier to divide a digital real estate asset among multiple owners than a physical one. That tokenization ethic need not be constrained to real estate; it can extend to other assets, such as artwork. Thus, a painting need not always have a single owner. Instead, multiple people can purchase a share of it, transferring ownership of a fraction of the physical painting to them. Such arrangements could increase its worth and revenues because more people can purchase parts of expensive art than those who can buy entire pieces.

How Can I Buy NFTs?

Are NFTs Safe?

What Does Non-Fungible Mean?

The Bottom Line

Non-fungible tokens are an evolution of the relatively simple concept of cryptocurrencies. Modern finance systems consist of sophisticated trading and loan systems for different asset types, from real estate to lending contracts to artwork. By enabling digital representations of assets, NFTs are a step forward in the reinvention of this infrastructure.

To be sure, the idea of digital representations of physical assets is not novel, nor is the use of unique identification. However, when these concepts are combined with the benefits of a tamper-resistant blockchain with smart contracts and automation, they become a potent force for change.

Investing in cryptocurrencies and other Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein.

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Non-Fungible Token (NFT): What It Means and How It Works

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Non-fungible tokens (NFTs) are assets that have been tokenized via a blockchain. They are assigned unique identification codes and metadata that distinguish them from other tokens. NFTs can be traded and exchanged for money, cryptocurrencies, or other NFTs-it all depends on the value the market and owners have placed on them.

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Relation Between DAO's and Smart Contract

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Relation Between DAO's and Smart Contract

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Blockchain is a lucrative technology, but for businesses, it is hard to decide when to use blockchain or when not to use blockchain. After all, blockchain has not become mainstream or mature yet.

Blockchain is going to change how businesses work and process information for consumers. As a business, you might think of using it to enhance your business and be one of the first movers. But, it is tough to decide what's the best approach and whether you should make the jump at all.

In this article, we will be focusing on when to use blockchain and when not to use blockchain. These questions also lead us to another interesting one: when will blockchain become mainstream?

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How Blockchain Works And Its Benefits

A blockchain is a decentralized approach where peers can communicate and validate transactions without depending on a centralized entity. This change from centralization to decentralization makes blockchain so valuable in the current scenario.

If a user sends digital currency or information to another user in the Distributed Ledger Network(DLT), then the transaction will be added to the block.

The block (containing a lot of transactions ) is then verified against the consensus method chosen by the network.

The key features of a blockchain-powered network include:

Looking forward, a blockchain can be used in many use-cases and verticals. The verticals it mostly impacts include finance, banking, supply chain, manufacturing, and others.

A decentralized approach brings a lot of including

Increased efficiency by removing middle-man and automation

Greater transparency for public networks

Better security with the use of cryptography

Improved traceability with immutable records

Get familiar with the terms related to blockchain with Blockchain Basics Flashcards.

Blockchain Is Not A Solution To Everything

It's critical to understand that blockchain, even though, very promising, cannot solve every problem out there. It is not the magic pill that every industry was waiting for. In fact, there are many people who believe that blockchain is not ready for any industry out there. That could be partially true as blockchain needs to be more mature before it can be truly useful for businesses transiting from traditional processes.

Bruce Schneier, a security technologist at Harvard Kennedy School thinks that there is no need for blockchain right now. In this opinion piece , he tried to provide a good argument on why the current traditional systems are better for now.

But, I think it is not completely correct. Some systems do need Blockchain. One key example is the Food industry. IBM with collaboration with Walmart was able to trace 5 food items from their origin to ensure reliability, authenticity, and freshness. These types of use cases make blockchain more valuable than any other technology out there.

In short, blockchain is vital to make things more reliable and efficient. However, blockchain still needs to become more mature before it can be applied to virtually every problem out there.

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Questions To Ask To Know When To Use Blockchain

If you are one of those businesses that are looking to cash in the initial blockchain train, then you need to know exactly when to use blockchain.

Let's go through the questions that you need to ask when to know when to use blockchain.

Do you need immutability for your use-case?

This question will help you understand if you can take advantage of the immutability feature offered by blockchain. The data cannot be removed or changed, once recorded. In short, the historical records remain the same even when there is a way to update a new value. If you do not need immutability, there you may want to look for other better solutions where you can frequently update data.

Is there any situation where you need to correct a mistake or remove a record?

As we already mentioned that blockchain offers immutability as they are append-only. But, if your business needs mistakes to be fixed or record to be removed then blockchain might not be the right solution. The whole scenario can be best understood with the context of GDPR which states that everyone has the right to be forgotten. This makes it challenging for a blockchain-based solution and would require a complete workaround.

Are you looking to solve a problem within your organization or are there multiple organizations or entities involved?

Blockchain is not an ideal solution as trust is already established within a single organization in case if you are trying to implement blockchain in your own organization. Blockchain can be a feasible solution if trust is not present in the organization, but that hardly happens.

Do multiple entities trust each other?

Blockchain is an ideal solution if there are multiple entities. However, if the trust is already established between those entities then blockchain, then blockchain implementation can be redundant and not required! If there is a lack of trust, then blockchain can solve that problem!

Do you need transparency?

Transparency might be required in places where information needs to be traced. If your business is audited from external services, then blockchain is too much to ask for. However, if there is a need for a transparent system so that every stakeholder can verify the transactions and information stored/shared by the platform, then blockchain is a great fit!

Do you need to know if the transactions are counterfeited or compromised?

As blockchain offers transparency at both the private and public levels, it can be a good option for businesses who want to learn whether the transactions are secure or not. In certain businesses, it is important to know about the condition of the transaction, and that's where blockchain comes in, providing the required solution. For example, if your business deals with food, then you can use blockchain to track the supply chain.

This way, you can learn if something goes wrong including packages getting replaced or if the package is not fit for consumption. In both cases, a transparent system will help you to overcome the problem.

How well does the distributed system fit in the whole scene?

Before you start adopting the blockchain, you should know the advantages and disadvantages of distributed networks. This is necessary as blockchain is a distributed ledger technology. Also, a distributed implementation is not easy on pockets. That's why you need to check if the benefits outweigh the costs associated with it. If it does then it might be a good option to go with it.

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Are there any performance requirements? If so, does blockchain meets those requirements?

Blockchain even though fast, still needs to go a long way before it can match other solutions out there. So, if your business relies on performance, then blockchain is not a good choice! You need a good number of nodes to make your blockchain viable and it can mean that it is computationally expensive compared to a traditional centralized solution that does not require that much of computational power.

Do constrained devices need to participate in the blockchain network as a node?

As you should know, blockchain requires multiple nodes to perform functionally. If your nodes are constrained and still need to participate, then blockchain is not a good choice. Private blockchain circumvents the problem.

Is there an architectural fit between the blockchain and the designer application?

Lastly, try to ask if your application fits with the blockchain decentralized model. If the architectural design doesn't fit, then it is good to look for another solution.

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When To Use Blockchain/ When To Not Use Blockchain Decision Tree

Awesome! You went through all the ten questions, but still not sure whether you need the blockchain solution for your business? To solve your problem in a better way, let's go through a decision tree that will help you decide when to use blockchain.

1. Do you want to remove the brokers and intermediaries?

If yes - then read on and continue to next step

If no - then do not use blockchain

The first thing that you need to understand is the business context. Do you need the intermediaries or brokers in your system or removing them helps you solve a critical business problem? If that's the case, then you need blockchain. Banking solutions are relying on distributed ledger technology such as CORDA to improve their work process by removing intermediates and enabling them to do transfers more securely and faster.

2. Are you working with digital assets?

If yes - then read on and continue to next step

If no - then do not use blockchain

Blockchain is an ideal solution for those processes which have digital native assets. This means normal assets that can be digitized. There is a simple and straightforward process where a digitized version of the physical representation is created with all the necessary details. For example, real estate properties can be digitized by storing all the vital information.

3. Are you able to create an authoritative and permanent record of digital assets?

If yes - then read on and continue to next step

If no - then do not use blockchain

The next thing that you need to check if you can create a permanent and authoritative digital assets record. This is one of the important steps when transiting from a traditional process to a blockchain. You need to have a proper source of trust to start the whole process. Also, this won't work if you have multiple sources as it can start the conflict with the creation of the digital record. All parties need to take responsibility for digital asset creation.

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4. Does your business require high-performance transactions?

Not all businesses are created equally as some businesses need solutions that are fast and can handle millions of transactions. If your business also needs speed then blockchain might not be for you. Blockchains are fast but can pose a limitation when it comes to some requirements. There are currently developments in blockchain technology that is going to tackle the problem and you might see more custom-based solutions out there that will be fast and able to cope up with the demand.

5. Are you going to store non-transaction data in large quantities?

Blockchain is not an amazing solution when it comes to storing non-tractional data in large quantities. If your business requires them, then it is always a better idea to use another solution. But, that can be ignored for special use-cases where the use of blockchain is vital to the whole ecosystem.

6. Do you need to rely on a trusted party?

There are many businesses out there that do not work without the trusted party. If that's the case, then implementing and using blockchain can be a tough ask. As blockchain does not enable to change of data, it becomes hard to manage network-based on regulations. In simple words, it is necessary to include the regulators when deploying a blockchain project. This will ensure that compliance and laws are maintained even when using state-of-the-art blockchain technology.

7. Are you looking to manage value exchange or contractual relationships?

If yes - then read on and continue to next step

If no - then some blockchain solutions can offer you this feature but it needs additional work

More so, if your business is not around managing contractual relationships or value exchange, there is not much of a use of blockchain in that case. That's why a business using blockchain to improve business value and reduce costs should try to manage transactions that revolve around digital assets.

8. Do you need shared write access?

If yes - then read on and continue to next step

If no - then you don't need a blockchain

Now, you need to check if you need to share write access or not? In simple words, it means that you need to check if other members require to write access to the blockchain or not. If they do, then it is better to not use blockchain and look for an alternative solution.

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9. Is there trust between the contributors?

Blockchain offers a platform where transactions can be done with little or no trust. If the entities that the business is dealing with are already trusted, then there is no point in using blockchain.

10. Do you want to have control functionality?

Permissioned/private network offers control functionality. The permissioned network will help you set rules for distribution, engagement, and more!

11. Do you need blockchain transactions to be public?

Lastly, you need to check if your transactions need to be public or not. If your transactions can be public, then choose public blockchain. If not, then private blockchain will work for you!

In short, you need to use blockchain when you need the following:

Manage and secure digital relationships

Proper use of decentralized network

Lack of trust among ecosystem parties

The middleman is no longer required

Record secure transactions among multiple partners

Data is not constant and you need to track it correctly

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When not to use blockchain?

Until now, we discussed questions that you need to ask when to use blockchain. They indirectly answered the question of when not to use blockchain. To ensure that you do not get confused, let's list below the scenarios or conditions where you should not use blockchain. You can also think of this as a summary of the above points.

Do not use blockchain if the process involves confidential data

When you need to use external services to store or gather data

Do not use blockchain where the rules of transactions are frequently changed

When there is a lot of static data storage

When you need fast transactions

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Conclusion

This leads us to the end of our article where we discussed when to use blockchain and when not to use blockchain. These questions also give us a hint on when blockchain will become mainstream. For now, we have to wait as blockchain still needs a lot of time before it becomes mature.
*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

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Do you want to learn about when to use blockchain and when not to use blockchain? If you do, then check out our definitive guide on how to learn about it!

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The 3 types of decentralization in blockchain

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The 3 types of decentralization in blockchain

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I've been working in the enterprise blockchain space since its earliest days in 2015 and there's no topic I see more confusion about than that of Decentralization. Perhaps that's because it appears to be a self-evident concept: in the IT space we all know what a centralized architecture looks like, and by inference, we also then assume we know what a decentralized architecture must look like. As a concept, however, decentralization is broader than IT architecture and even blurs across both technical and business domains.

I have learned that the true difficulty with decentralization is that there are actually three completely different definitions of it just within the blockchain space-and nearly everyone is unaware of this, so they are often jumbled together. It's worth noting that all three definitions are perfectly valid in their own context. We've repeated our cardinal sin in IT: overloading a term with multiple meanings. This time, however, instead of recycling a term from a prior era we've simultaneously mixed several distinct concepts together. Very confusing indeed!

The three definitions of decentralization are so different that they often give rise to what we can jokingly call the "talking heads on a panel problem" where several people in a single blockchain conversation can completely talk across each other. In other words, if two people are discussing a blockchain topic and each has a different definition of decentralization in her mind, then each person will likely come to a very different conclusion about the topic. These incredibly different definitions are the real reason for so much confusion on decentralization.

The 3 types of decentralization in blockchain

Let's get the three definitions out on the table. I list them in order of popularity that I see them referenced in the enterprise space:

‍

1. Business decentralization

Business Decentralization is the use of blockchain to eliminate centralized, single party processors by having the involved parties transact directly through a smart contract. This speaks to the potential for blockchain technology to be used to eliminate an existing central party "in the middle" holding all of the assets or data.

‍

In the business definition we often hear about disintermediation: two parties which used to rely on a middle party to facilitate a transaction now transact directly with each other. Sometimes this business concept is also described pseudo-technically as transacting directly "point to point" and removing "extra hops". In my experience, less than 5% of use cases businesses are actually working on would be in the category of business decentralization. Most of those middlemen exist for sound reasons or the journey to remove them is a long one. ‍

2. Physical decentralization

Physical decentralization is the dispersion of runtime blockchain servers around the world being operated by as many different parties as possible.

‍

The big idea here is something like "wouldn't it be grand if we had a global technology infrastructure that no single party owned or controlled, and anyone could use if they can afford to". For example, Bitcoin was designed to be censor-resistant-if you have a bitcoin then no one can stop you from spending it on the bitcoin network (assuming you have internet access to it). For mainnets, it is therefore essential to have a large, diverse group of users (often strangers) running the nodes of the network. These strangers are incentivized to do this because they are paid to run your transaction (technically the process is called "mining" and they often must compete to win the token prize by creating the best block of transactions).

Running a single, global network of blockchain servers (" mainnet ") is a big undertaking, especially if you want the network to be independent and self-sustaining. Broad, physical decentralization is a must for public blockchain mainnets but comparatively less significant for a private blockchain.

‍3. Transactional decentralization

Transactional decentralization is the use of blockchain for B2B transactions to achieve greater efficiency, transparency, and trust in B2B networks. As enterprises have adapted the technology of blockchain to better suit their needs, they've done something profoundly powerful. The B2B transaction, the lifeblood of many businesses, has been completely reinvented.

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All of the value chains and ecosystems in our global economy are formed by complex and many-sided business relationships. The two building blocks of these relationships are contracts and ledgers. A blockchain network gives you a new model for a transaction which uniquely uses contracts and ledgers in a novel, secure, and robust way. Enterprise blockchain features a shared ledger that is an immutable store of transactions and a common smart contract executing the business logic in an efficient and trustless way. A consensus process for executing, verifying and recording keeps the separate parties in lockstep. Finally, a cryptographic consent mechanism tied to the verified identity of the relevant parties ensures trusted results.

Transactional Decentralization is a breakthrough for the Enterprise Back Office

Perhaps because I've worked in enterprise blockchain exclusively since 2015, I find a particular type of confusion to be by very common: enterprise people assuming blockchain is all about business and/or physical decentralization and completely unaware of the true value of enterprise blockchain: transactional decentralization.

With this new technology paradigm, the B2B interaction is now incredibly streamlined: the parties execute the same exact contract, agree to the results once, and record the results in a choreographed fashion guaranteed to stay in sync. None of this is true in the B2B world today. And best of all, you haven't sacrificed the things you care about most: your business does not give up any security, autonomy or control throughout this transaction process because the overall transaction is still decentralized.

Business, physical, and transactional decentralization are all valid concepts that form pillars of the larger blockchain ecosystem. They are, however, quite distinct. It is important to understand each of them in turn and the value they offer. Transactional Decentralization is the "unsung hero" of the space and it's time for the enterprise community to realize its full potential.

There is a tremendous amount of business cost and value "trapped" in our ancient and inefficient Business Networks. Enterprise blockchain is the key technology to unlocking it by enabling B2B networks to be rebuilt on a modern collaboration plane. It allows these networks to benefit from enhanced coordination and transparency while transacting. However, since the transaction itself is decentralized, it gives businesses the assurance that they are still in control of their own transactions and data. While it has been to date lost amongst other types of decentralization, transactional decentralization is a game-changing construct in the toolbelt of CIO's and Line of Business owners.

If you'd like to see decentralization within the context of a multi-party business network on a permissioned blockchain, you've got no further to look than Kaleido's Free Starter Account. Check out our full-stack blockchain platform for free, today. Sign up here!

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Decentralization in Blockchain: 3 Types Explained

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The concept of decentralization in blockchain can be confusing, but it doesn't have to be. Learn more about the 3 types of blockchain decentralization and their uses.

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1. What is Proof of Work (PoW) ?
The term "proof of work" was coined by Markus Jakobsson and Ari Juels during a document published in 1999.It is related to bitcoin. Proof of Work (PoW) may be a protocol designed to form digital transactions secure without having to believe a 3rd party. This work builds on previous puzzle solutions. PoW may be a way of verifying current and past transactions. The work that goes into solving puzzle generates rewards for whoever solves it called it as mining. In other words, this is often an algorithm that's designed to verify transactions and obtain new blocks added to blockchain. With Proof of Work, miners are competing to be primary to finish a complex mathematical puzzle which will generate this new block, meaning that they'll be ready to collect some new Bitcoins as a rewards.

PoW reduces risk of a 51% attack because it's very hard to do work.

No miner will be able to control bitcoin network single handedly Based on Hashcash PoW system.

The miners need to give a proof that they have done some work, before proposing a new block.

At the same time, each solution is easy for community to verify. This makes it easy to check all transactions for trustworthiness.

PoW also sets a limit on how many new blocks of data can be generated. For example, miners can only create a Bitcoin (BTC) block every 10 minutes.

It doesn't rely on a single third party transactor. This builds a "trustless" and transparent network.

Monopoly can increase over time.

2. What is Proof of Stake (PoS) ?
Proof-of-stake is a consensus algorithm that decides on who validate next block, according to how many coins you hold, instead of miners cracking cryptographic puzzles using computing power to verify transactions like they do with traditional Proof-of-Work.

The probability of validating a new block is determined by how large a stake of a person.

The validator do not receive a block reward, instead they collect network fees as their reward.

Peercoin was first cryptocurrency to implement a full-scale PoS consensus model.

Handling Monopoly and Power Consumption.

Difference between Proof of Work (PoW) and Proof of Stake (PoS) in blockchain :

S.No.

Proof of Work (PoW)

Proof of Stake (PoS)

4.

Hackers would need to have 51% of computation power to add malicious block.

Hackers would need to own 51% of all cryptocurrency on network, which is practically impossible.

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Difference between Proof of Work (PoW) and Proof of Stake (PoS) in blockchain - GeeksforGeeks

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A Computer Science portal for geeks. It contains well written, well thought and well explained computer science and programming articles, quizzes and practice/competitive programming/company interview Questions.

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HOW IS CRYPTO DIFFERENT FROM CASH?

Cash and crypto have similarities. They both have a market value and some cryptocurrencies, like bitcoin and ethereum, can act as a medium of exchange-but beyond that, they're quite different.

Cash is issued by a government. Crypto is not.

Crypto isn't controlled by an individual, institution, or any other authority. Instead, it's managed by blockchain technology and verified by all its users on the network.

SUPPLY

Governments have complete control over the money supply, influencing how much cash is circulating at any given time.

The U.S. dollar is referred to as a "fiat currency" or "fiat money." That means it's backed by the government that issues it and not by a commodity, like gold or silver.

Some cryptocurrencies, like bitcoin, have a finite supply, meaning only a limited amount will ever exist. But others have an undefined supply.

DID YOU KNOW?

The U.S. dollar was backed by gold until 1971.

ACCESSIBILITY

Digital cash transactions (like paying for something or sending money to a friend) are made through a third party (like a bank or financial institution).

Crypto was created to remove the need for a third party and only requires the internet to complete a transaction.

You can withdraw cash. Crypto only exists digitally and can't be physically withdrawn. So, you'll never actually hold a bitcoin in your hand like you would a $20 bill.

FRAUD

Printed cash can be prone to counterfeiting.

Cryptocurrencies are designed to avoid counterfeiting, thanks to the complex network of computers that record and verify each transaction.

By storing crypto transactions on a public, immutable blockchain, they cannot be changed or deleted, and everyone can see them.

But not all cryptocurrencies are created equal, and some coins are a higher scam risk, so always do your research before investing.

DID YOU KNOW?

Over 20,500
cryptocurrencies exist as of August 2022. But bitcoin (40%) and ethereum (19%) dominate with 59% of market cap. ¹

VALUE

The market value of cryptocurrencies is very volatile-their worth can go up and down quickly.
In 2010, someone bought 2 pizzas for 10,000 BTC, worth $30.² That same pizza purchase would have cost $687,900,000 in November 2021³ (bitcoin's all-time high) and $192,709,000 today (September 2022).³

A dollar in your pocket today is still a dollar tomorrow. However, the purchasing power of the U.S. dollar tends to decrease as the money supply increases.
In 1913, you could buy 30 chocolate bars for $1.⁴ But today, 30 chocolate bars would cost roughly $30.⁵

THE BOTTOM LINE

While cash and crypto both have an assigned market value and act as a medium of exchange, they have very different properties.

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Crypto vs. Cash | Understand the Difference | Fidelity

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Cash and crypto have similarities. They both have a market value and some cryptocurrencies, like bitcoin and ethereum, can act as a medium of exchange-but beyond that, they're quite different. Cash is issued by a government. Crypto is not. Crypto isn't controlled by an individual, institution, or any other authority.

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Unit 1 Introduction ( Use for SEM 3 Unit 2 CSBS)

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Unit 1 Introduction ( Use for SEM 3 Unit 2 CSBS)

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Unit 2 Part 1 Decentralization and Cryptography ( Use for SEM 3 Unit 2 CSBS)

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Unit 2 Part 1 Decentralization and Cryptography ( Use for SEM 3 Unit 2 CSBS)

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Unit 2 Part 2 Decentralization and Cryptography

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Unit 2 Part 2 Decentralization and Cryptography

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btech in computer science and engineering

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btech in electronics & telecommunication engineering

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mtech in computer science and engineering

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mtech in electronics & telecommunication engineering

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Online Syllabus KIT's College of Engineering, Kolhapur

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An institute established in May 1983, KIT reflects the vision of leading industrialists and educationalists. The Institute has been awarded "A" status by Govt. of Maharashtra in recognition of its over all academic excellence and infrastructure. It is affiliated to Shivaji University, Kolhapur and is approved by AICTE, New Delhi.

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Unit 1: Blockchain Definition (SEM 3 Unit 1 CSBS Honors)

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Unit 1: Blockchain Definition (SEM 3 Unit 1 CSBS Honors)

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Unit 1 : BFT and Case Study (SEM 3 Unit 1 CSBS Honors)

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Unit 1 : BFT and Case Study (SEM 3 Unit 1 CSBS Honors)

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Demand of Blockchain and Case Study of Bank

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Demand of Blockchain and Case Study of Bank

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Coinbase and Bitcoin (SEM 3 Unit 2 CSBS Honors)

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Coinbase and Bitcoin (SEM 3 Unit 2 CSBS Honors)

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Unit 4 : Ethereum At Glance (SEM 3 Unit 3 CSBS Honors)

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Unit 4 : Ethereum At Glance (SEM 3 Unit 3 CSBS Honors)

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Unit 4 Deep Dive Ethereum with Components (SEM 3 Unit 3 CSBS Honors)

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Unit 4 Deep Dive Ethereum with Components (SEM 3 Unit 3 CSBS Honors)

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SY Unit 2 Honor Summary Bitcoin and Ethereum (SEM 3 Unit 3 CSBS Honors) 

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SY Unit 2 Honor Summary Bitcoin and Ethereum (SEM 3 Unit 3 CSBS Honors) 

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SEM 3 Unit 5 & 6 Consensus Algorithm I and II

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SEM 3 Unit 5 & 6 Consensus Algorithm I and II