Number of slides: 10
The blockchain is the underlying technology that makes cryptocurrency viable. It is a growing list of records that is, by design, impossible to change. It is a new and complex concept that is only understood by people with a good knowledge of cryptocurrency. It might be one of the most revolutionary technologies as it offers a way of decentralizing currencies and the economy. As this is not general knowledge, it is crucial to present information clearly to avoid errors and confusion. Explain the characteristics, process, and architecture associated with this technology using informative and clear graphics offered in this slide deck.
What is blockchain actually good for and how can it help? Essentially, this technology revolves around the idea of objective truth. Everyone using a type of blockchain technology adheres to a consensus that is based on a set of rules. In a blockchain network, there is only one source without any alternatives. Once a transaction has been recorded, is it unchangeable.
The blockchain process basically creates a digital ledger in which every transaction is recorded at the end of the current chain. As a transaction is recorded, the chain gets longer and cannot be changed. The truth value of the blockchain network is given by its length, where any alterations or frauds would not be validated and not added to the blockchain.
The lifecycle of blockchain revolves around the idea of cryptocurrency transaction. The first step is to request a transaction, afterward to broadcast the transactions to the computers in the network. All computers need to validate the transaction, after which it is stored in the blockchain.
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