Ten years since blockchain’s inception: current status, applications, challenges and future perspective
dr. Remigijus Paulavičius, dr. Ernestas Filatovas
Vilnius University, Institute of Data Science and Digital Technologies
Blockchain, the foundation of Bitcoin, has recently received extensive attention. October 31, 2018, marked the tenth anniversary of the release of the Bitcoin white paper. In this talk, we review the blockchain evolution, starting from prehistory, following with the introductory to the essential blockchain concepts, providing details of a wide range of applications, including currently facing challenges and possible future directions.
The content of this talk (lecture) has been broken down into four following parts:
- Blockchain fundamentals – in the first part of this talk, we provide a detailed overview of evolution and essential concepts of blockchain technology. We introduce basic blockchain components: transaction, block, the structure of the block, chain of the blocks; blockchain operations: verification, validation, consensus model; chain split types: hard fork, soft fork. Content of this part also includes the hashing and cryptography foundations.
- Blockchain platforms – in the second part we give a broader understanding of the blockchain ecosystem. We introduce popular blockchain platforms, depending on their architecture: public (permissionless), private (permissioned) or hybrid (consortium) and give a comparative analysis highlighting their specific features, benefits, and drawbacks. Here we also introduce a smart contract – the computational element of the blockchain technology which allows implementing user-defined operations that are not possible through plain cryptocurrency protocols. They enable users to implement conditions, rules, and policies of the decentralized applications.
- Applications of blockchain – in the third part we explore different blockchain applications, especially such where the blockchain technology could become a powerful tool for improving existing business solutions. In this talk, particular emphasis is given to blockchain-based applications currently being under developed with our business partners from medicine, e-commerce, publishing, and the finance – Bank of Lithuania (LBChain project).
- Challenges and future perspective – despite the all potential that the blockchain technology could deliver (or already delivers), in the last part, we discuss the biggest facing challenges today: slow transaction speeds, scalability, interoperability, energy consumption (cost), lack of regulation, etc. Finally, we finish this talk with an active discussion on the possible blockchain trends that could define the future of the blockchain.
Lugar de la charla: Sala de Grados del Edificio de Informática y Matemáticas
Día y hora: Viernes 1 de febrero, 17:00
Reserva de plaza (gratuita): https://www.ticketea.com/entradas-charla-blockchain-applications-challenges-and-future-perspective/