Introducing the Blockchain and Distributed Ledger Technology

Jollen <jollen@jollen.org>

Founder, Flowchain.io https://flowchain.io

2017.3.4, 19:00~19:30 @BTOSS Workshop

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• A distributed ledger designed for the Internet of Things

• A programming framework and open source project

• Architecture designed from the ground up

• White paper and more information:

• https://flowchain.io

Flowchain

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Preliminary

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Ethereum

Bitcoin

Hyperledger

Ripple

R3

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"Colored Coins" loosely describes a class of methods for

representing and managing real world assets on top of

the Bitcoin Blockchain [1].

[1]: https://en.bitcoin.it/wiki/Colored_Coins

Color Coins

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Public Private

Mining

Consensus HyperLedger

Bitcoin

Blockchain 分類

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1.0

2.0

3.0

FinTech and Cryptocurrency

Non-fintech

Distributed ledger

Blockchain Industry

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Distributed Ledger Technology

• A Blockchain is only one type of data structure considered to be a distributed ledger. [1]

• DLT 可以延⽤用 Blockchain 資料結構設計，或根據應⽤用的不同，設計全新的資料結構

• ⺫⽬目標：提供⼀一個分散式、安全且可信任的資料儲存系統（data storage）

[1]: https://en.wikipedia.org/wiki/Distributed_ledger

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Distributed Ledger

Blockchain

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PreviousHash Timestamp

MerkleRoot Nonce

Block #11211

PreviousHash Timestamp

MerkleRoot Nonce

Block #11212

PreviousHash Timestamp

MerkleRoot Nonce

Block #11213

Merkle tree ⽤用來紀錄這個區塊裡的

transactions

Blockchain Data Structure

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Blockchain Data Structure

• ordered, back-linked list

• stored in a flat file or database

• each block is identified by a hash

• SHA256

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PreviousHash Timestamp

MerkleRoot Nonce

Genesis Block

/* * 定義我的 Genesis Block */ var genesisBlock = { hash: '', prevHash: '0000000000000000000000000000000000000000000000000000000000000000', timestamp: new Date(), merkleRoot: 'undefined' };

Establish Genesis Block

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Source: https://www.ft.com/content/eb1f8256-7b4b-11e5-a1fe-567b37f80b64#axzz3qe4rV5dH

How a Blockchain Works

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DLT Essentials

• A peer-to-peer network

• Consensus algorithms

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Consensus Algorithms #1

• proof-of-work

• proof-of-stake

• proof-of [resource|existance|status|state|relibility|…]

• hybrid

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Consensus Algorithms #2

• PBFT (Practical Byzantine Fault Tolerance - 拜占庭容錯算法)

• Paxos / The Part-Time Parliament (希臘城邦算法)

• DPoS (Delegate Proof of Stake)

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Contact

Email

White Paper

Facebook

jollen@jollen.org

https://flowchain.io

https://facebook.com/groups/wotcity