Discussion on BlockChain and Cryptocurrency

BMSCE IEEE conducted a workshop on Blockchain Technology and Cryptocurrency on 8th February 2018. The venue for the workshop was BSN Hall of BMSCE. It was a 3 hour long workshop which started from 4:00 pm.

The details of the event was spammed through Social Media. The Workshop was free for IEEE Members and registration fees was Rs. 50 for NON-IEEE members. IEEE attendees were 30 and NON-IEEE attendees were 10. The speaker for the workshop was Mr. Prashant Agarwal, currently in 3rd year of engineering of department Information Science and Engineering(ISE). Prashant holds a keen interest in Blockchain and is a person who has spent hours and hours of research on Bitcoin. His knowledge about Cryptocurrencies, any Software Technology and computers in general is beyond words.

Mr. Prashant gave a basic introduction as to what Blockchain is, the history of how Bitcoin came to market and the concept of cryptography due to which these cryptocurrencies work. To quote from his presentation:

“ A blockchain is a decentralized, distributed and incorruptible digital ledger that is used to record transactions across many computers.”

Then, he went ahead and explained the participants the basic “hash” technology which is the working principle of Bitcoin and why is it so difficult to tamper with this technology and steal cryptocoins. After that, Mining of Bitcoins and the enormous requirements to set up the system to do the same was brought to notice. Then, some more aspects of Bitcoin as to why is it an illegal Tender, mishaps with respect to trading of cryptocurrencies, wallets where you can store these currencies, Buying them and Live Trading were all explained in a explicit manner and in a way where the enthusiasm of all the participants never even for once dropped.

Overall, the basic agenda of the workshop was fulfilled and all the people went back home with their brain full of new and interesting bits of knowledge.

RESOURCE PERSON:

Mr Prashant Agarwal, a 3rd year student of the ISE department

FEEDBACK-

The participants gave a very positive feedback and even requested for another such discussion to be conducted. Ultimately, it was a grand success.

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