Blockchain Technologies and Applications

2016 IBM Faculty Award (Prof. Pataricza András)
Teljesítménymodellezés és –elemzés, Duke kooperáció
Linux

A kurzusról

Nem (csak) Bitcoin – Blockchain
A mai előadás témája
Fő oktatási célok
Blockchain-ek

Topics we plan to cover during the course

DISTRIBUTED LEDGER TECHNOLOGY

Ledgers

Principal book of account
Records transactions
Append-only
“Checksums”
… but really, just a Tx log

Distributed ledgers: eliminating trusted 3rd parties

Centralized

Distributed ledger

M. Rauchs et al., “Distributed Ledger Technology Systems: A Conceptual Framework,”

Communication: e.g. SWIFT
Marketplaces: exchanges, eBay
Auth. information: DNS, land registry
Risk sharing: insurance
Democracy:

Blockchain technologies: a DLT approach

[1] Source: Marley Gray, Principle Architect PM

Replacing the middleman with the group

P2P network of nodes
Each peer: same

Blockchain properties

Ledger: immutable Tx log; not (just) cryptocurrency!
Smart contracts: programmed Tx

Basic transaction logic

Client request

Order, contract exec result, acceptance: consensus

All ledgers updated

Batch

But when you peel off the complexity…

C

Main differences: extra-functional

M. Rauchs et al., “Distributed Ledger Technology Systems: A

SAME NAME, TWO(?) WORLDS

Public vs private/permissioned/consortium/…

„Not true, but a very, very good lie!”
(T. Pratchett,

Some key points

(Cryptocurrency-based) public Blockchains
Ledger based on some “unit of value”
Peer

Figure: bitnodes.21.co

Public example 1: Bitcoin

“Ground zero” for Blockchains
Ledger: “who” has how

Figure: ethernodes.org

Public example 2: Ethereum

Birds eye view: almost like Bitcoin
“Ether” instead

Slight detour: Bitcoin price

And suddenly…

Ethereum: the very basics of token mechanics

You pay a little Ether

Some Ethereum smart contracts

Source: https://parkgene.io/

On-chain, “programmed” claim assessment
Long, closed, manual process transformed into transparent automatism
Ethereum
Privacy?
But:

Ethereum

Decentralized autonomous organizations?
Well… We will talk about the DAO hack
ICO: “buying

Cryptocurrencies: uncertain future

On the other hand: DLT enjoys universal support.

Private Blockchains: asset/supply management

Ábra: IBM: Adopting Blockchain for enterprise asset management

A success story: MAERSK and IBM

Source: https://www.ibm.com/blogs/blockchain/2018/01/digitizing-global-trade-maersk-ibm/

Both examples over Hyperledger fabric

Closed markets: reinsurance

http://www.chainthat.com/framework/

Smart contract is an important, but small part!

Not only enterprise/business!

Note: it is situational, whether the public or private

Egy teljesebb taxonómia

Zárt/”konzorciális”/”privát” hálózat

Publikus hálózat

Jogosult csomópontok, szavazás-szerű (perm’d)

Szabad részvétel a konszenzusban

DIGITAL ASSETS AND TOKENIZATION

Cryptographic tokenization of assets

Source: Introducing Project "Bletchley" Marley Gray, Principle Architect PM

Smart contracts over tokenized assets

Source: Introducing Project "Bletchley" Marley Gray, Principle Architect

Tracking the ownership of money
Cryptocurrency is actually a special case
Could be

Cryptocurrency
Central bank currency
Digital currency
Commodity-backed tokens
Equity tokens
Accounting tokens
Digital collectible
Utility tokens

Some digital asset

THE FOURTH INDUSTRIAL REVOLUTION?

Industrial revolutions

1st: urbanization, steam engine
2nd: steel, oil, electricity, internal combustion engine
3rd:

2017: “A rapidly emerging sector”

Blockchain project ecosystem

https://news.blackmooncrypto.com/
the-blockchain-ecosystem-v3-six-months-
after-the-hype-ca14e9879001

A NOTE ON PERFORMANCE

CryptoKitties! ☺☹

Throughput
Latency: variance
Price: variance

Public Blockchain: performance

HL fabric v0.6
Due to blocks: still latency and size limits, but
Tunable
Plannable
Protectable
v1.x: