Problem and Risks for cryptocurrency users in Binance.

1
Blockchain Wallet Support

• S.Katiyar
• Product Support Manager
• Contact- 1-800-509-3075

2
Agenda

• Blockchain Technology Overview
• Three Levels of Blockchain, Tokens
• Why Bitcoins?
• How does it work?
• What are the possibilties?

3
Blockchain Technology Overview

4
Three Levels of Blockchain
1. Conceptual layer There is the big picture
view What can it do, what was it designed for?
What is its promise? Understanding blockchain on
a high-level only requires you to understand its
setting and the solution it offers. 2. Component
interaction layer Blockchain brings together
cryptography, distributed systems, and databases.
Each field brings its own components to the
blockchain system. Some of them can be exchanged,
replaced or modified to build a slightly
different system. What is the impact of a change?
Understanding the contributions of each
technology to the blockchain system as whole
helps to understand how all the properties we
actually are interested in emerge from the
parts. 3. Technology layer Blockchain uses
insights from cryptography, e.g. one-way/trapdoor
functions and public-key encryption systems. It
also uses insights from distributed systems and
networking, e.g. peer-to-peer communication
protocols, consensus finding (read more about
consensus in my earlier article). It also draws
from the field of databases, e.g. immutable and
persistent databases, and data structures like
Merkle or Patricia trees. How do they work? How
and how well do they do the job theyre used for?
5
Why Bitcoins?

• Bitcoin may be wont to obtain merchandise
  anonymously
• Bitcoin isn't tied to any country or subject to
  regulation
• Small businesses like bitcoin as a result of
  there aren't any mastercard fees or chargebacks
• Some people obtain bitcoins as associate
  investment, hoping that theyll go up in worth.
• This is one among the explanations for its price
  instability

6
How does it work?
Heres the funny issue concerning bitcoins they
dont exist anyplace, even on a tough drive. we
tend to point out somebody having bitcoins, but
after you cross-check a selected bitcoin address,
there aren't any digital bitcoins control in it,
in the same approach that you simply would
possibly hold pounds or bucks in a very checking
account. you can't purpose to a entity, or
perhaps a digital file, and say this may be a
bitcoin. Instead, there are solely records of
transactions between completely different
addresses, with balances that increase and
reduce. each dealings that ever took place is
hold on in a very large account book referred to
as the block chain. If you wish to figure out the
balance of any bitcoin address, the data isnt
control at that address you need to reconstruct
it by watching the block chain.
7
What are the Possibilities?

• End of national currencies
• End of Banks
• The end of predatory lending
• The end of the IRS
• The end of the voting booth
• A new notary system
• The end of Western Union/Money Orders
• Anyone with a cellphone is a bank

8
(No Transcript)