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BlockChain and CryptoCurrency (Part2)

The document discusses blockchain and cryptocurrency. It provides background on the presenter and an introduction to the topics. It then covers cryptocurrency features and lists the top ten cryptocurrencies. Specific explanations are given for Bitcoin, including how it works, its value, the mining process, and details on blocks and transactions.

Uploaded by

Seph Lwl
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
21 views

BlockChain and CryptoCurrency (Part2)

The document discusses blockchain and cryptocurrency. It provides background on the presenter and an introduction to the topics. It then covers cryptocurrency features and lists the top ten cryptocurrencies. Specific explanations are given for Bitcoin, including how it works, its value, the mining process, and details on blocks and transactions.

Uploaded by

Seph Lwl
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Blockchain & Cryptocurrency

Saravanan Kulanthaivelu
Who am i?

• Currently employed as Cyber Forensic Senior Specialist for Standard Chartered Global
Business Service
• more than 20 years of experience in the IT industry, with experience in forensics, incident
response, network security, malware analysis and threat intelligence.
• Worked as consultant with Mandiant (FireEye) and was stationed in one of the largest bank
in Malaysia as resident incident response and forensic consultant, providing global threats
advisory services.
• Worked in the law enforcement sector, Malaysian Communication and Multimedia
Commission (MCMC) which monitors threats towards Malaysian network and advise the
relevant bodies on mitigation strategies.
• Master in Science, Universiti Sains Malaysia.
• Bachelor in Computer Science with Honors, Universiti Sains Malaysia.
• Member of
• HTCIA
• GIAC Advisory Board
• UKM Fellow
• Certifications

UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 1


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Contents

1. Introduction
2. Blockchain
3. Cryptocurrency
4. Risks and Mitigations (discussions)

UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 2


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Cryptocurrency

UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 22


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Cryptocurrency Features

UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 23


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Top Ten Cryptocurrency

1. Bitcoin (BTC) $128bn


2. Ethereum (ETH) $19.4bn
3. XRP (XRP) $8.22bn
4. Tether (USDT) $6.4bn
5. Bitcoin Cash (BCH) $4.1bn
6. Bitcoin SV (BSV) $3.4bn
7. Litecoin (LTC) $2.6bn
8. EOS (EOS) $2.4bn
9. Binance Coin (BNB) $2.4bn
10. Tezos (XTZ) $1.5bn

UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 24


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BITCOIN

UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 25


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How does it work?

UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 26


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Bitcoin Value

UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 27


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Bitcoin mining

https://www.youtube.com/watch?v=BODyqM-V71E UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 28


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Bitcoin mining

https://www.youtube.com/watch?v=BODyqM-V71E UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 29


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Bitcoin mining

https://www.youtube.com/watch?v=BODyqM-V71E UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 30


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Bitcoin mining

https://www.youtube.com/watch?v=BODyqM-V71E UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 31


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Bitcoin mining

• CPU
•Early days due low difficulty
• GPU
•1 GPU = 30 CPU
• FPGA (Field Programmable Gate Arrays)
•1 FPGA = 3-100 GPU
• ASIC (Application specific integrated
circuit)
•1 ASIC – 100k x CPU
•Current standard
•Only can run bitcoin mining

https://www.youtube.com/watch?v=BODyqM-V71E UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 32


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Bitcoin mining

source: bitcoinwiki.org UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 33


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Bitcoin mining

https://www.youtube.com/watch?v=BODyqM-V71E UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 34


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Bitcoin mining

https://www.youtube.com/watch?v=BODyqM-V71E UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 35


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Who decide how many transaction in a block?

• Miners (that is, the full node building the miner's blocks - which may be a pool) decide
what they put in blocks.
• Reasons for including more transactions:
•Earn the fees of transactions included.
•Make the Bitcoin on-chain ecosystem more useful.
• Reasons against including more transactions:
•Larger blocks propagate more slowly through the network, giving them a slightly larger chance
for being reorganized (as a competing simultaneous block may win).

UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 36


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Genesis Block 1

UKM –PAYMENT ARCHTECTURE IN FINANCIAL TECHNOLOGY 37


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