introducing the blockchain and distributed ledger technology
TRANSCRIPT
Introducing the Blockchain and Distributed Ledger Technology
Jollen <[email protected]>
Founder, Flowchain.io https://flowchain.io
2017.3.4, 19:00~19:30 @BTOSS Workshop
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• A distributed ledger designed for the Internet of Things
• A programming framework and open source project
• Architecture designed from the ground up
• White paper and more information:
• https://flowchain.io
Flowchain
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Preliminary
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Ethereum
Bitcoin
Hyperledger
Ripple
R3
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"Colored Coins" loosely describes a class of methods for
representing and managing real world assets on top of
the Bitcoin Blockchain [1].
[1]: https://en.bitcoin.it/wiki/Colored_Coins
Color Coins
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Public Private
Mining
Consensus HyperLedger
Bitcoin
Blockchain 分類
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1.0
2.0
3.0
FinTech and Cryptocurrency
Non-fintech
Distributed ledger
Blockchain Industry
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Distributed Ledger Technology
• A Blockchain is only one type of data structure considered to be a distributed ledger. [1]
• DLT 可以延⽤用 Blockchain 資料結構設計，或根據應⽤用的不同，設計全新的資料結構
• ⺫⽬目標：提供⼀一個分散式、安全且可信任的資料儲存系統（data storage）
[1]: https://en.wikipedia.org/wiki/Distributed_ledger
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Distributed Ledger
Blockchain
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PreviousHash Timestamp
MerkleRoot Nonce
Block #11211
PreviousHash Timestamp
MerkleRoot Nonce
Block #11212
PreviousHash Timestamp
MerkleRoot Nonce
Block #11213
Merkle tree ⽤用來紀錄這個區塊裡的
transactions
Blockchain Data Structure
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Blockchain Data Structure
• ordered, back-linked list
• stored in a flat file or database
• each block is identified by a hash
• SHA256
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PreviousHash Timestamp
MerkleRoot Nonce
Genesis Block
/* * 定義我的 Genesis Block */ var genesisBlock = { hash: '', prevHash: '0000000000000000000000000000000000000000000000000000000000000000', timestamp: new Date(), merkleRoot: 'undefined' };
Establish Genesis Block
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Source: https://www.ft.com/content/eb1f8256-7b4b-11e5-a1fe-567b37f80b64#axzz3qe4rV5dH
How a Blockchain Works
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DLT Essentials
• A peer-to-peer network
• Consensus algorithms
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Consensus Algorithms #1
• proof-of-work
• proof-of-stake
• proof-of [resource|existance|status|state|relibility|…]
• hybrid
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Consensus Algorithms #2
• PBFT (Practical Byzantine Fault Tolerance - 拜占庭容錯算法)
• Paxos / The Part-Time Parliament (希臘城邦算法)
• DPoS (Delegate Proof of Stake)
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Contact
White Paper
https://flowchain.io
https://facebook.com/groups/wotcity