Blockchain white paper pdf
A trust based taxonomy of blockchains is presented. We consider the evolution of trust and draw parallels to significant societal developments in which information technology tools played a key role. This approach permits us to understand the origins of blockchains, the excitement that currently permeates this space and the promise this technology holds for the future. Besides providing an up-to-date literature survey, we take a critical look at the architectural elements of public and private blockchains and discuss various trade-offs.
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Bitcoin White Paper
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Blockchain supply chains v0. Embed Size px. Start on. Show related SlideShares at end. WordPress Shortcode. Share Email. Top clipped slide. Download Now Download Download to read offline. Blockchain white paper Sep. Infosys Consulting Follow. Industry 4. Summary of the 22nd Annual 3PL Study. Business planning in digital age. Design thinking: An approach to innovation that scales. The age of artificial intelligence. Digital transformation whitepaper. Smart data transformation study.
Besserer Service - weniger Kosten. Related Books Free with a 30 day trial from Scribd. Related Audiobooks Free with a 30 day trial from Scribd. Blockchain white paper 1. Built for disruption — how blockchain technology works. No magic potion for everything. Who is in? The main stakeholders. Implications for the financial services industry. Payment transactions.
Cost and complexity reduced. Promising examples on their way. Trade finance. No trade-offs — speed and security combined. Possible use cases in trade finance. Current projects: collaboration is key. The over-the-counter market. Efficient markets and reshaped business models. Promising signs — big revenues for FinTechs. Conclusion and outlook. Current research and several use cases reflect the first fea- sible implementations of the technology, bringing major changes for segments and processes within the industry.
An increasing number of banks are re- alizing the urgency of the topic and are exploring ways of using blockchain technology. A differenti- ated approach is necessary to elaborate on the po- tential impacts on industry segments and financial institutions, as blockchain technology is character- ized by complexity and several limitations. Drawing from a broad range of statements from experts from both Infosys Consulting and institu- tions from various sectors of the industry, this pa- per provides a high-level business-case viewpoint on the potentials and limitations of the blockchain technology.
To that end, both promising and non- promising areas of application are highlighted and discussed. After an introduction of the technology, three main fields of application have been investigated here: Payment transactions, trade finance and the over- the-counter market. The paper gives an analysis of the status quo in each of these fields and shows where and how blockchain technology could be used or is already deployed. The authors show what is currently done to introduce the blockchain and what the next steps should be.
Collaboration between FinTechs and banks is key for broad implementation. Blockchain technology is currently not sufficiently regulated and future suc- cess will depend on clarifying legal aspects.
Investment banking and transaction services are the most promising fields of blockchain application in the near future. Distributed ledger and blockchain are not one-size-fits-all solutions. Key findings 6. Some crypto- currencies e. More importantly, tokens can not only be used to account for money; they can also represent any kind of asset, such as bonds, rights, gold bars or even cars.
A blockchain consists of elec- tronically chained blocks that contain the transaction records of a given time frame. Since a blockchain sums up all blocks i. Distributed ledger tech- nology in the financial services industry. In many of its segments, the financial ser- vices industry currently follows a central- ized ledger approach, in which trusted third parties process transactions be- tween two or more parties.
The central tasks of those trusted third parties are the certification of ownership and the clearing of transactions. Since a decentralized network of com- puters conducts intermediary tasks over the internet, the distributed ledger ap- proach eliminates the need for a trusted third party see Figure 1. All transactions are recorded into a digital ledger, which is publicly available and fully distributed to all members of the network so-called nodes. As each network member holds a valid copy of the ledger, the network it- self is able to certify asset ownership and clear transactions, providing a mechanism that offers higher security than the cur- rent central ledger approach.
Transactions are visible to all network participants and are immutable once they are recorded in the ledger. Moreover, the distributed led- ger approach could increase transaction speed and decrease transaction costs, because operations are performed peer- to-peer between the corresponding par- ties rather than indirectly through trusted third parties. A distributed ledger system consists of the following five components: 1 a network of nodes, 2 tokens, 3 a structure, 4 a consensus mechanism, and 5 rules.
Nodes are responsible for the main- tenance of the ledger and the verification of transactions. Since the distributed led- ger technology is a network approach, it benefits from a high number of nodes.
The greater the number of network members working on the verification of the trans- actions, the higher the mutual processing power. Ultimately, transaction speed and cost structure improve.
Double spending occurs if particular tokens are spent twice, such as when party A owns only four tokens but transfers three tokens to party B and three tokens to party C at the same time. To prevent this issue, the networkofnodeshastoperformaconsen- sus mechanism to eliminate the manipula- tion of transactions see Figure 3, page 7. Figure 2: The structure of a blockchain; source: Own illustration based on Bitcoin and Nakamoto Figure 1: Centralized vs.
The network of nodes has to solve difficult and costly puzzles to add new blocks to the blockchain, i. This require- ment prevents double spending because it would be too costly and computational power-intense for any third party to out- perform the whole network in solving these puzzles to manipulate transactions. The greater the share of ownership of certain network members, the more blocks these mem- bers are allowed to add. Two of the most influential protocols are seen on the bitcoin and Ripple networks see Figure 5.
Whereas bitcoin is a cryptocurrency with a built-in payment system, Ripple is a pay- ment system for arbitrary assets. The two protocols differ in their consensus mecha- nism, transaction fee policy, creation of new tokens and other aspects. Hence, rules strongly influence the character of distributed ledger systems and determine the way the system can be applied.
Although the distributed ledger technol- ogy has the potential to change and im- prove the current financial services indus- try, it does not constitute a one-size-fits-all solution. Therefore, the applica- tion of the technology is appropriate for use cases in which security plays a major role.
Decentralization enables business models that replace any trusted third party or intermediary because a trust relationship between unknown par- ties is established. Any asset possible: Tokens used by the network allow the exchange of any physical or non-physical asset so that the blockchain can be used for different kinds of transactions.
Internet as basis: The blockchain uses the internet as the underlying infrastructure to process transactions. This enables business cases to provide banking services without the need for a banking infrastructure.
Lower costs, higher speed: In some cases, the blockchain could reduce transaction costs and increase trans- action speed.
Blockchain Whitepaper for IP Ecosystems
Bitcoin is an investment option that is perhaps both surprising and encouraging. But, Bitcoin is not dead. In fact, it is more vibrant than ever. Yet , the content of this nine-page document incited what can only be described as a revolution in the world of fintech. Satoshi launched the first Bitcoin client in early before handing the project off to the community in , where it has since thrived as the open-source of study, work, and fascination for millions across the globe. Bitcoin will be around for many years and examining its white paper origins is a great exercise in understanding why.
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This document was built by the Nxt community. Sources were compiled, organized, and edited by joefox. Bitcoin has proven that a peer-to-peer electronic cash system can indeed work and fulfill payments processing without requiring trust or a central mint. However, for an entire electronic economy to be based on a fully decentralized, peer-to-peer solution, it must be able to do the following: process transactions securely, quickly and efficiently, at the rate of thousands per hour or more; provide incentives for people to participate in securing the network; scale globally with a minimal resource footprint; offer a range of basic transaction types that launch cryptocurrencies past the core feature of a payment system alone; provide an agile architecture that facilitates the addition of new core features, and allows for the creation and deployment of advanced applications; and be able to run on a broad range of devices, including mobile ones. Nxt pronounced next satisfies all these requirements. Nxts unique proof-of-stake algorithm does not depend on any implementation of the coin age concept used by other proof-of-stake cryptocurrencies, and is resistant to so-called nothing at stake attacks. A total quantity of 1 billion available tokens were distributed in the genesis block. Curve cryptography is used to provide a balance of security and required processing power, along with more commonly-used SHA hashing algorithms. Blocks are generated every 60 seconds, on average, by accounts that are unlocked on network nodes. Since the full token supply already exists, Nxt is redistributed through the inclusion of transaction fees which are awarded to an account when it successfully creates a block.
Hedera Papers
To this day, nobody still knows who Satoshi is. A technical description, the Bitcoin white paper was the first document to outline the principles of a cryptographically secured, trustless, peer-to-peer electronic payment system that was fundamentally designed to be transparent and censorship-resistant, as well as put financial control back in the hands of the individual. At that time, the world was gripped by a financial crisis catalyzed by excessive speculation in the financial markets and banks risking millions of dollars worth of depositors' money. This document lay the foundation for what is generally considered the first functional digital currency powered by a distributed ledger technology called blockchain.
Whitepaper
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Corda: A Technical White Paper
Skip to search form Skip to main content Skip to account menu You are currently offline. Some features of the site may not work correctly. Aside from a brief fork between incompatible versions in March , the bitcoin network has been operating continuously and smoothly for over 5 years. Although there have been losses and thefts of bitcoins belonging to individual holders, the network itself has never been successfully attacked or impeded. Save to Library Save. Create Alert Alert. Share This Paper. Background Citations.
MultiChain Private Blockchain — White Paper
NEAR is a decentralized application platform with the potential to change how systems are designed, how applications are built and how the web itself works. It is a complex technology with a simple goal — allow developers and entrepreneurs to easily and sustainably build applications which secure high value assets like money and identity while making them performant and usable enough for consumers to access. To do this, NEAR is built from the ground up to deliver intuitive experiences for end users, scale capacity across millions of devices and provide developers with new and sustainable business models for their applications. The following sections will describe the approach NEAR takes to designing and implementing the core technology of its system.
To achieve and fully harness this technology that will enable mass public adoption, we have identified the three major phases of blockchain evolvement — Technical Consensus, Business Consensus, and Governance Consensus. In this phase, technical developers are the major force to build up the initial infrastructure protocols based on imaginations and projections. The competition is about programming language, protocol, algorithm and technical developer community. Applications in this early stage of blockchain adoption are coming from the more obvious use cases that leverage features and functionalities of the blockchain technology, such as ICOs, DAOs, and betting applications or gaming with betting features ,along with infrastructure applications as needed like explorers, wallets, exchanges centralized or decentralized. Very few applications for the traditional business world are created in this phase, much less affecting and improving business use cases and activities. Blockchain platforms that focus on use cases such as traceability, anti-counterfeiting, food safety, intellectual property management, product life-cycle management and all kinds of data provenance categories are rarely to be seen.
Chainlink decentralized oracle networks provide tamper-proof inputs, outputs, and computations to support advanced smart contracts on any blockchain. Build on a flexible framework that can retrieve data from any API, connect with existing systems, and integrate with any current or future blockchain. Integrate pre-built, time-tested oracle solutions that already secure tens of billions in smart contract value for market-leading decentralized applications. Use a decentralized network of Chainlink Keeper nodes to automate contracts, mitigating risk of manual interventions and centralized servers. Chainlink greatly expands the capabilities of smart contracts by enabling access to real-world data and off-chain computation while maintaining the security and reliability guarantees inherent to blockchain technology.
A list of whitepapers created by Hedera that detail its technology and economic decision making. First published: March 13, Last updated: August 15, Distributed ledger technologies DLT have the potential to disrupt and transform existing markets in multiple industries.
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