Networked Applications: Exploring Blockchain with Libra and Ethereum

This report provides an overview of blockchain technology, with a specific focus on Libra and Ethereum. It begins by introducing the concept of blockchain and its decentralized nature, highlighting its application in various fields. The report then delves into the specifics of Libra, detailing its features as a stablecoin and its potential for financial inclusion. It explains the Libra protocol, its transaction processing capabilities, and the hardware requirements. Following this, the report examines Ethereum, describing it as a platform for decentralized applications. It discusses Ethereum's architecture, the Ethereum Virtual Machine (EVM), and the use of Ether as a cryptocurrency. The report also outlines the advantages and disadvantages of Ethereum, such as its scalability issues. Finally, the report concludes by emphasizing the role of blockchain in enhancing transparency and efficiency within systems, referencing the provided sources for further reading.

Applications of Block Chain
Libra and Ethereum

About BlockChain
 Blockchain is an emerging technology.
 Completely decentralized system
 Offers application like Ethereum and
Bitcoin
 Data are stored in the form of block
and linked to each other nodes

Applications of BlockChain
Libra
Ethereum

Application Libra
 Libra is a cryptocurrency
 This performs as a stable coin
 Improves the financial inclusion
 This is decentralized database
 The database is programmable
 supports low-volatility

Features of Libra
 Large amount of control over association
 Usage can be controllable
 Runs based on the permission

Working of the Libra
Libra protocol support 1000 payment
transactions per second.
Requirements of the system is 40 Mbps
internet connection, 16TB SSD and 1
commodity CPU.

Ethereum Technology
 Shares record related to transaction
 Each node stores data related to history
 Nodes are responsible for storing the recent
state data
 EVM –ethereum virtual machine is used for
reading and executing data

Ethereum working
 Ethereum
blockchain aims at
running
decentralized
application.
 Ether is a type of
crypto token that
is used for the
fueling the
network.
 Ethereum offers
better scalability

Features of Ethereum
 Euthereum are that it is decentralized
 Reliability of Euthereum is high
 Offers automatic payment

Disadvantages of Ethereum
 The Sluggish transaction speed
 Difficult to handle more transactions at a time

Conclusion
 The concept of block chain is mainly
developed for the purpose of increasing the
transparency within the system and also
ensures that the transactions are made faster.

References
 [1]A. Rosic, "What is Ethereum? [The Most
Comprehensive Step-by-Step-
Guide!]", Blockgeeks, 2016. [Online].
Available:
https://blockgeeks.com/guides/ethereum/.
[Accessed: 07- Aug- 2019].
 [2] M. Crosby, P. Pattanayak, S. Verma and V.
Kalyanaraman, “Blockchain technology:
Beyond bitcoin.” Applied Innovation, 2(6-10),
p.71, 2016.