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What is the role of BlockChain in bitcoins ? Mao Lal

Einer der wesentlichen Gru00fcnde, warum Einzelpersonen daru00fcber nachdenken, Bitcoins fu00fcr Ratenabsichtsabsichten zu nutzen, ist ein direktes Ergebnis der zahlreichen Schwerpunkte, die das digitale Geld gegenu00fcber u00fcblichen Fiat-Geldformen bietet. Bitcoin wurde als dezentrales Vorauszahlungsgeld versandt, das den Online-Austausch zwischen Parteien ohne Vermittler wie Banken fu00f6rdern wu00fcrde.<br>

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What is the role of BlockChain in bitcoins ? Mao Lal

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  1. What is the role of BlockChain in bitcoins ? Mao Lal

  2. Agenda Introduction Defining Bitcoin Defining Blockchains Fraud and Bitcoins Money Laundering and Bitcoins The Application Conclusion Bibliography ? ? ? ? ? ? ? ?

  3. Introduction As of Feb 20th 2017 the price of Bitcoin is: $1,062.42 for 1 BTC Over 100,000 merchants online and in the physical world now accepting Bitcoins. The list includes: ? TigerDirect ? Reddit ? Subway ? Steam ? Tesla ? ?

  4. Defining Bitcoins Advantages of Bitcoins: No middle man/bank/financial institute Anonymous Distributed Decentralized from any local currency or government Secure Easy/Simple ? ? ? ? ? ? ? Image from WeUseCoins.com

  5. Defining Bitcoins How does it work? A wallet is created ? ? ? ? ? ? ? BTCs are added by exchanging money to BTC A broadcast is sent to the network for each transaction The transaction is verified using PKI-based cryptology Distributed Ledger is updated The funds are transferred

  6. Defining Bitcoins Image from imponderablethins.com

  7. Defining Blockchains Is a database of transfer records that are immutable and can not be altered without corrupting the chain. Block chain uses SHA hashing to tie the transactions together. Therefore if a record is changed within the chain, the chain’s integrity is compromised. ? ? Image from anders.com/blockchain

  8. Defining Blockchains Each Blockchain contains: The hash of a transaction Timestamp Nonce Hash of the previous record Hash of the current chain ? ? ? ? ? ?

  9. Defining Blockchains Advantages of Blockchains: Resilience Secure Auditable Reduces cost (due to 3rd party involvement) Faster ? ? ? ? ? ?

  10. Fraud and Bitcoin Due to the implementation of the distributed ledger, fraud is extremely difficult An attacker will need to manipulate all the ledgers on the network to successfully change an entry ? ?

  11. Fraud and Bitcoin Image from Elliptic.co

  12. Fraud and Bitcoin

  13. Conclusion The approach of this research is to study the Blockchain process See how will the Blockchain process aid against: Fraud Money Laundering We plan to recreate a blockchain event and emulate fraudulent activity ? ? ? ? ?

  14. Thank you

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