Blockchain
by Jan Zimmermann
1. Today's problem of the financial world
1.1. corrupt
1.2. high fees with many third-parties
1.3. long transaction duration
2. How Blockchain solves these problems
3. Core concepts of Blockchain
3.1. consensus algorithm
3.1.1. Proof of work (PoW)
3.1.1.1. Bitcoin
3.1.2. Proof of stake (PoS)
3.1.2.1. Ethereum 2.0
3.1.3. process of ensuring that all the different users in a blockchain come to an agreement regarding the current state of blockchain
3.2. Peer2Peer Network
3.2.1. No centralized server
3.2.2. distributed application architecture that consists of computing devices connected to each other, without a central server
3.2.3. is more secure as there is no single point of failure
3.3. Distributed ledger
3.3.1. A ledger is a system containing all the records of a input and output of a process
3.3.2. A distributed ledger is a data structure which is spread across different computing devices
3.3.3. data is shared among all its users increasing transparency and avoiding corruption