Event Details
The Emerging Blockchain Technology and its Core Fundamentals
Presenter: Maher Bouidani
Supervisor:
Date: Wed, December 19, 2018
Time: 10:00:00 - 11:00:00
Place: EOW 230
ABSTRACT
Summary:
During the aftermath of the 2008 global financial crisis, Satoshi Nakamoto published Bitcoin’s white paper “P2P (peer to peer) Electronic Cash System. Satoshi defined Bitcoin as a decentralized digital currency which can be sent from peer to peer within the network without any central authority or intermediary layer involvement.
Blockchain is the underlying technology and closely linked to the digital currency Bitcoin. Although blockchain technology was initially conceptualized during the beginning of Bitcoin, it has been abstracted to refer to a distributed and immutable decentralized ledger of records in which each newly invoked transaction and created block, links to the previous one through its hash value reference. Therefore, creating an immutable traceable chain of transactions and blocks.
Blockchain technology and its potential capabilities extend beyond cryptocurrencies. Blockchain enables existing applications to evolve into more efficient and transparent form and eliminates the need for a central authority or a third-party to validate each process. This talk will explain the underlying technology fundamentals behind the Blockchain success reputation. From public key cryptography to different types of consensus protocols, these topics are going to be covered. Furthermore, a development insight into Blockchain's private and permissioned Hyperledger Fabric platform is discussed.