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ArcBlock Introduction to Blockchain
The document discusses the challenges of managing transactions and data sharing among users (Alice, Bob, and Charlie) within a centralized system, outlining the need for a blockchain to establish an accurate, decentralized data storage solution. It explores potential solutions to incentivize users for data generation, manage rewards, and address privacy concerns, emphasizing the evolution of blockchain technology from a simple cash system to more complex applications like smart contracts and network protocols. Additionally, the document covers concepts like hash functions and anonymous addresses that ensure data integrity and security in a decentralized system.
ArcBlock Introduction to Blockchain
- 1. ArcBlockArcBlockThe Odyssey tothe Decentralized Web Has Just Begun
- 2. - Why dowe need BlockChain? - What is BlockChain? - Deeper into BlockChain? A G E N D A
- 3. Alice, Bob andCharlie need to keep track of how much money they earn and transfer to each other. What are the options? Alice Bob Charlie
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- 5. What are theproblems with this system?
- 6. - Hard toaccess - Complete failure - Black Box What are the problems with this system?
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- 11. Question 1: Howcan they update this information in the new system ? Alice Bob $1000 $500
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- 13. - If everyonewrite to their book at the same time, they have different data - To make sure everyone has the same copy, best strategy is to have some one generate the data first, then other people can copy
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- 15. Question 2: Theperson who generates data needs to pay extra attention to what’s going on and make sure the information is right. What if no one wants to do that? Alice
- 16. - Every pieceof data contains a small amount of fee - Every time Alice generates some data, she gets award too Incentive
- 18. Question 3: Thereward is great! What if Bob and Charlie want the reward too? ? Bob Charlie
- 19. - Just needto find a way to decide who: choose a person during certain amount of time - Satoshi's proposal: solving math problems
- 20. Question 4: Davidthinks this is fun. How can he join and get a correct copy of the data? David
- 21. Today’s dataYesterday’s dataVeryfirst data
- 22. Question 5: Whatabout data privacy??
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- 24. - How toupdate new information? - How to keep data same? - How to encourage people generate data? - How to decide who can generate data? - How to make sure no one's data is modified? Blockchain: A new system with no third parties
- 25. 1.0 Cash System Bitcoin EthereumArcBlock 2.0 Smart Contract 3.0 Application & Network Blockchain Evolution
- 26. Traceability Other Blockchain Applications SupplyChain Transparency Voting System
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- 28. Bitcoin’s Math Problem Proofof Work (POW): work talks
- 29. Hash Function Hash Value FixedLength Message Arbitrary Length
- 30. - Easy toverify, hard to calculate - Small change in the input would cause the output to be completely different
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- 33. Requirement: 0000 …… - Block head - Transactions - Time - Random number Input Hash Function 101110 … … Output
- 34. Requirement: 0000 …… - Block head - Transactions - Time - Random number Input Hash Function 000010 … … Output
- 35. How to generateand verify anonymous address?
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- 38. Public Key Signature AliceBob $500 + Digest Hash Digest’
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