Mini Project Synopsis PPT Final
Mini Project Synopsis PPT Final
Mini Project Synopsis PPT Final
By : Group 17
VARUN ARORA ( 201900064 )
RAHUL KUMAR ( 201900095 )
SAKSHAM SUMAN ( 201900105 )
Guided by :
G V Sivaramkrishnan
Key Points
• As Popularity of Crypto Currencies is growing and metaverse is
becoming a reality and is going mainstream we would like to play our
part in it by designing this website.
• We would like to make a website which is beginner friendly for new
users and investors planning to invest in cryptocurrencies.
SL. no Author Paper and Publication Details Findings Relevance to the project
1. A.Can Inci, Rachel Journal of Capital Markets Cryptocurrencies have a Increasing popularity and the
Lagasse Studies ISSN: 2514-4774 useful role in the optimal unique characteristics of
portfolio construction and cryptocurrencies will assist their
in investments. future presence in investment
portfolios.
2. Klaus Grobys When the blockchain does not Hackings are more likely to Cryptocurrencies should be stored
block: on hackings and occur at small exchanges in own hardware wallets instead of
uncertainty in the that perhaps have lower exchanges.
cryptocurrency market security standards than
larger exchanges.
4. Iqbal, S., Crypto-Currency: Future of these digital assets might Cryptocurrencies have a potential
Hussain, M., FinTech. In Research Anthology find a way to become an future and even though they have
Munir, M. U., on Blockchain Technology (pp. effective means of payment fluctuating values.
Hussain, Z., 1915-1924). IGI Global.
Mehrban, S., &
Ashraf
5. Shrivastava, Cryptocurrencies and Blockchain As we enter the Industrial Cryptocurrencies can help
Gulshan, Dac- Technology Applications. John Revolution 4.0, demands frictionless and transparent
Nhuong Le, and Wiley & Sons, 2020. for an increasing degree of financial transactions .
Kavita Sharma. trust and
privacy protection continue
to be voiced.
• The concept of the Blockchain technology was introduced ten years back.
• In 2008, Satoshi published the white paper of bitcoin entitled "Bitcoin: A peer to peer Electronic
cash system. It stated that the transaction could take place without involving any third party.
Public Blockchain
•A public blockchain as its name suggests is the blockchain which is available to all, in other words
it is a kind of blockchain which is for the people, by the people, and of the people.
•No one oversees the network, and anyone can participate in reading/writing/auditing the blockchain.
•More complex rules are present for safeguarding it from malicious actors. All the decisions are
made using the complex consensus algorithm
•Computationally these blockchains expensive to mine & commit a Block over the network.
•Example: Bitcoin Blockchain, Ethereum Blockchain, etc.
Private Blockchain
• An individual or an organization privately operate private blockchain as its name suggests. Unlike public
blockchain in private blockchains, there is an administrator/anchor who looks after essential things such as
permissions and identities.
• The consensus is achieved on the whims of the central in-charge who can provide mining rights to anyone
or not give at all.
• Compared to public blockchain it is much faster and cheaper because one doesn't have to spend an
enormous amount of energy, time and money to reach a consensus.
• Here instead of one in charge, we have more than one in charge. A group of companies or representatives coming
together can make decisions for the benefit of the whole network.
• As a way of achieving things much faster and have more than one single point of failures which protects the whole
ecosystem.
• In simple words, it's the best of both Private and Public Blockchains.
• Gives options for rights and access management while leveraging the same blockchain technology and reaping its
benefits.
• Proof of Stake : The creator of a new block is chosen in a deterministic way. depending on its wealth/stake in the
blockchain. Example Cardano.
• Proof of Delegated Stake : People in a particular blockchain ecosystem vote for Witnesses to safeguard their
computer network.
• Proof of Authority : The proof-of-authority consensus is essentially an optimized Proof of Stake model that leverages
identity as the form of stake rather than staking tokens.
• Proof of Weight : Every user over the network has a weight attached to them which is determined by the money they
hold in their account. Example Algorand.
Blockchain Versions
Blockchain 1.0: Currency
The implementation of DLT (distributed ledger technology) led to its first and obvious application:
cryptocurrencies. This allows financial transactions based on blockchain technology. It is used in
currency and payments. Bitcoin is the most prominent example in this segment.
Blockchain 2.0: Smart Contracts
The new key concepts are Smart Contracts, small computer programs that "live" in the blockchain.
They are free computer programs that execute automatically, and check conditions defined earlier
like facilitation, verification or enforcement. It is used as a replacement for traditional contracts
Blockchain 3.0: Dapps ( Current Version )
DApps is an abbreviation of decentralized application. It has their backend code running on a
decentralized peer-to-peer network. A DApp can have frontend Blockchain example code and user
interfaces written in any language that can make a call to its backend, like a traditional Apps.
Advantages of using Blockchain
Enhanced security Information is stored across a network of computers
rather than a single server, making it difficult for hackers to view data.
Greater transparency All transactions are immutability recorded and are
time- and date-stamped.
Instant traceability Blockchain creates an audit trail that documents the
provenance of an asset at every step on its journey.
Increased efficiency and speed There’s no need to reconcile multiple
ledgers, so clearing and settlement can be much faster.
Automation Transactions can even be automated with “smart contracts,”
which increase your efficiency and speed the process even further.
conclusion
Blockchain technology is attracting massive attention across multiple
projects in different industries. Intermediation is today’s dominating
solution for verifying ownership of assets and transaction processing.
Intermediaries perform the careful checking of each involved party
along a chain of intermediaries. However, this is not only time
consuming and costly but also bears a credit risk in case an intermediary
failure. The blockchain technology promises to overcome these critical
aspects