- Micro Teaching
- Effective Classroom Management
- Innovative Teaching Methods
- Outcome based Education
- Power of Humor in Teaching
- Effective Presentation Skill
- Industry academy relationship
- Workshop and Lab teaching skill
- Online teaching
- Financial Literacy and self Management of Faculty
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- Whether decision is being taken by majority.
- Whether decision is being taken by reaching at consensus. All agree anonymously and with mutual understanding.
- Whether decision is taken proportionally, eg, on family matters.
- Whether decision is taken on hierarchical basis, eg, when the boss or the eldest member of the family takes decision.
- Just follow, what others do and say.
- You surrounded by the people.
- Your hierarchical position in the family and organization.
- Your personal characteristics like confidence, fearlessness, courage, challenge taking, facing threats, visionary, mindset, flexibility in your views and opinions. Learning aptitude, knowledge, skill, wisdom, logic mind, scientific mind, judicious mind etc.
- Resources what you have (shortage, limited, adequate, sufficient or abundant).
- Quantum of information what you have.
- Your internal and external environments to what extent favourable or adverse.
- Your interest on the matters.
- Feeling of disagreement and unhappiness by others.
- Keep your mind open and think the best beyond any kind of constraints, limitations and barriers.
- Be flexible in thoughts with acceptability and adoptability mindset.
- Develop learning aptitude and enhance knowledge, skill and wisdom.
- Be confident, fearless and courageous to accept any kind of challenges and threats.
- Identify the resources which would be utilized while executing the decision.
- Identify the origin, nature, characteristics, and eco-system of the need or problem.
- Identify the purpose of decision ie, goal/target.
- Don’t act hurriedly. Keep your mind calm and peace.
- Gather relevant information related to need/problem.
- Find out alternatives.
- Match each alternative with the available resources for getting the best solution.
- Check and evaluate the evidences.
- Choose the best alternative.
- Review the decision taken and evaluate its consequences.
Conclusion: Decision making gives direction to lead life. Poor or wrong decision leads to troubles/failure and vice-versa right decision creates opportunities and solve the problems. This helps in eradicating the barriers and created self-confidence, fearlessness and courage to overthrow challenges and threats. It is therefore highly needed that one should be always on high alert or attention so as to be watchful with the happening taking place around. It is always advised to take interest in knowing and handling the adverse situations by breaking out the comfort zone. Desire is needed to be generated to face the challenges/threats and finally action with right decision at right place at right time would yield favorable consequences.---Dr. Sushil Kumar _______________________________________________________________________ _____ References: i). Tutorialpoint.com/management_concept/decision_making-process.html. II).unmassed.edu/fycm/decision-making/process/ iii).internship.aurorafoundation.com/au/sites/default/files/common_decision_making_process-pdf.
VICTORY IS BEYOND FEAR
(डर के आगे जीत है)प्रस्तुत लेख में मन से भय अथवा डर की भावना को हटाकर सफलता की मार्ग पर डट कर आगे बढ़ने सम्बन्धी महत्वपूर्ण विब्दुओं पर प्रकाश डाला गया है I डर व्यक्ति का मनोवैज्ञानिक मानसिक अवस्था है जो किसी भी चुनौतियों को स्वीकार करने से रोकता है I यह अवस्था असफलता का कारण बनता है I अतः यह आवश्यक है कि व्यक्ति अपने मन में बिठाए डर को समाप्त करके चुनौतियों का समाधान करे और पूरी तल्लीनता के साथ विजय पथ पर अग्रसर हो I Fear of failure in the examination, interview, loss of job, drowning, falling from a height, etc are numerous examples in our day to day lives, which pulls down and create a feeling /state of mind to remain within comfort zone. This emerges due to threat or change for which we are not ready to accept. This is a powerful, natural and primitive human emotion which is expressed physically and/or psychologically. This is a state of afraid of trying or doing some new thing and breaking the comfort zone. It also occurs when a person feel afraid of failure and people will laugh at him. Fear also envelopes the mind of a person who lacks confidence and experience. The most prevalent fear, presently the whole world is experiencing, is from pandemic COVID 19. People are most concerned with their health, loss of job, loss of business, disruption of education, no classes due to closure of schools/colleges etc. When a person experiences fear he/she starts showing certain symptoms such as: chest pain, chills, dryness of mouth, nausea, rapid heartbeat, shortness of breath, sweating, trembling, upset stomach etc. Fear diminishes the levels of self-confidence, strength and abilities of an individual and ultimately leads to failure. How to Remove Fear from the Mind: Fear obviously is taken as great barrier/hurdle in development/growth process in the career. This creates a negative personality and causes of failure. In order to erase fear from the mind and lead a successful positive life, the sense of fear is not at all required to nurse in the mind. This may be calculated as: more fear, high failure vice-versa no fear, high success. The following steps may be considered to overcome fear:
- Develop creative and innovative mind: He/ She may try to do the work in different ways than what others do. Small changes collectively bring big success. Feeling of fear will not come on the way and this will give pleasure when achievement is done in changed situation.
- Conquer the challenges/ obstacles and remove from the ways.
- Believe on yourself and your work, never confused.
- Don’t lose your courage, because it shows possibilities and opportunities.
- Build up your faith to succeed.
- Take right decisions by asking yourself and get right answers which would give you satisfaction and pleasure.
- Keep your knowledge and skill always updated to remove fear from the mind.
- Be flexible in your thoughts and listen other’s views.
- Know your and your work’s strength, weakness, opportunities and threats (SWOT).
- In case of your weak points, take assistance/advices from others.
- Acquire/update your knowledge and skill on the work which you are going to perform.
- To understand threats and evolve strategy, take help from professional persons.
- Accept the challenges/threats and list out their characteristics.
- Make up your mind to work out solutions of the challenges/threats.
- Believe and do in a team work.
- Documentation of the work done by you is a must for ready reference at any time.
- evolving strategies to empower yourself through enterprise development,
- strengthen linkage with people (customer) and business support organizations,
- Create personal as well as image branding and earn goodwill through you behaviour, commitment, integrity, rendering quality services, and doing the things differently.
- Involve yourself in generating new ideas, incubate them, and convert them into new viable/feasible project. The new product thus innovated for noble cause should be registered under Intellectual Properties Rights Act.
- Evolve process of performance measurement system of your entrepreneurial practices,
- Design and practice monitoring and evaluation mechanisms for continual growth of your business.
- Always get ready for research, education and trainings on your entrepreneurial activities.
- Avail of Government schemes and programmes in running your business.
- Identify your market and create networking with potential customers.
- Assess the market for your products/services.
- Design and develop the products so as cater the needs of customers.
- Measure the return on investment you are getting from your networking efforts.
- Make sure you give something of value first when making connections instead of beginning by asking for something.
- Be sure that and offer the products to the customers with expectation of getting payback. Watch that you receive encouraging and positive feedback from the customers in the market.
- Establish your presence in the market through ‘Personal Branding’.
- Keep your vision, objective, mission, and ethics very clear and understandable to others.
- Be a good Fund Manager.
- Brand image of your products must create confidence and reputation for a long run.
- Always utilize your resources including time for productive purpose of your business.
- Total quality has to be assured all the time.
- Make creativity and innovativeness integral part of your business.
- Make your product distinct, specific and qualitative.
- Keep on adding value to your business.
- Take ownership of your business.
- Entrepreneurship Development in India (First edition);2016; Dr. Sushil Kumar, Avishkar Publication, Jaipur
GENERATION OF KNOWLEDGE AND ITS RELEVANCE TO BUSINESS SUCCESSA successful business is one that makes a bigger profit after understanding and meeting the needs of customers better than its competitors. This can be achieved only if there is: (1)A quality product (better than competing products), (2) A distinctive brand (market recognition and respect for the firm and its product), and (3) effective marketing (demand creating situation). In other words, these elements give a business competitive advantage over its rivals. Even with these three elements coupled with raw material, special skill, funds, good distribution network, appropriate production process and technology, may not enable the business firm sustain its competitive edge. Knowledge has become the most key resource for building durable competitive edge in the continuously evolving business environment. Hence, Knowledge is a crucial input for creating value. In context with global business environment coupled with internet, customers have world-wide unlimited choice. Their fast changing taste and beheviour, the products have now shorter and shorter life cycles. It is a growing challenge for most businesses to provide newer, better, more attractive products that catch the eye and retain the interest of customers. The real challenge is to be more resourceful, creative and innovative than the competitors in all aspects of business from conceiving new ideas and transforming them into products, to marketing them in an efficient and cost-effective manner and earning a reasonable profit on the investment made. Knowledge generates in the mind of human beings may be in the form of old ideas, frameworks, concepts, skill, memories, and so on and develops new ideas, concepts, principles, models, frameworks, guiding principles and skills. Expression of these ideas adds values to the products calling them new products. Sooner or later, this knowledge has to be shared with others. If there trust between owner and user, then that may suffice. If they have contractual relationship, there might be loss or leakage of knowledge to the competitors. Still in another situation, the competitors might grab the knowledge accidently despite maintaining all secrets and safeguards of the same. In all said situations, a system comes in what is called Intellectual Property(IP). Intellectual property (IP) is the outcome of human intellectual efforts which adds values to the products/services and makes them more marketable and acceptable amongst the customers. This intellectual efforts once protected under prescribed laws, the business firm/entrepreneur enjoys the market share and maximizes the profits and productivity. Such laws come under Intellectual Property Rights(IPRs). Protection of new technologies, new products innovated, industrial designs, and registration of brand names images enable the business firms to grow and sustain in the economy.
- Your talent,
- Your ability and competency,
- Your strength,
- Nature of job matching to your choice,
- Working environment around your workplace,
- Your relationship with the colleagues.
- Keep on adding values to your talent,
- Prove your talents in achieving desired outcomes,
- Practice your talent,
- Value and believe your work and workplace,
- Your integrity and cordial relation with your colleagues,
- Adoptability, accountability and self-motivation.
- Build a professional resume,
- Develop your own networking,
- Get ready to take full responsibility,
- Bear strong desire for perfect performance,
- Personal branding dictating your specific traits,
- Always set standards for doing any work,
- Make documentation
- Update your knowledge, skill and wisdom as per organizational needs.
Where will I be position myself after five years with the help of what I am doing (my action) every day?
Monitor and evaluate yourself every day.
Where have I to pay more attention for career progression?
Engage yourself more in result oriented activity. Avoid spending your time on least important work.
Which wrongness and rejection have pulled me down?
Learn from the mistakes and reform yourself aiming to your target).
Know what people expect from you?
Your image may not be good among the people. Don’t worry; always ask yourself what people expect from you.
Are the people creating trouble to you or helping to you?
List such people. Appreciate them telling their good actions.)
Don’t be proudly. It is a limited resource.
Develop right thinking.
It is wrong to always think where to invest time and strength.
Everybody likes to remain in comfort zone. But always try to keep yourself outside the comfort zone.
”Let the things go” creates tension. But bearing the tension from the beginning makes the work or life tasteless.
Make your plan error proof after consulting your boss and people who are concerned to it.
It is CHAMATKAAR to keep desire to know more and more information.
Build up the team.
Always know 3 things: (i).types of desires you want to have, (ii). On what issues you should believe; and (iii). What type of work you should do.
Always learn from the situation.
It is good if there is a problem.
Be ready to take challenge.
Whatever is happening in your life, it is helpful to move forward in your life.
Stress, frustration, confusion, and failure are the outcomes or consequences which a person does not feel satisfied as these were not accomplished as per his/her desired result, goal, mission, or vision. These vary from person to person with different degrees. On the other hand, On the other hand, we see quite a good number of people who keep on marching forward with overall growth in their lives and always get ready to do something in different way with new taste and flavour. The benefits out of their acts go to all persons of their family, organization, society, nation and ultimately whole world. People acknowledge their outstanding contribution and they also improve their lifestyle. They do not stop here only rather explore new ideas/opportunities and move forward to achieve something extraordinary.
Turning stress, frustration, confusion, and failure into peace, pleasure, clarity and success require a set of habits, attitudes and behaviours what we call it entrepreneurial mindset. Entrepreneurial Mindset is defined as “all the characteristics and elements that compose the entrepreneurial potential in every individual”.1 Another definition is “An entrepreneurial mindset is a set of skills that enable people to identify and make the most of opportunities, overcome and learn from setbacks, and succeed in a variety of settings”.2
Success and failure depend upon an Individual behaviour which can be changed by enhancing knowledge, skill and wisdom. Success depends upon interpersonal skill and leadership which influence the behaviour. The level of ability and motivation being possessed by an individual speak about his/her success rate. Poor ability and low motivation yield poor performance. Vice-versa, higher ability and higher motivation yield higher performance. Accordingly, failure and/or success is measured.
Individual’s behaviour takes shape on the basis of goal set by his/her and is motivated by desire to attain some goals. Goals are set with some motives such as need, desire, drives, impulse, etc. When the motives become stronger, the individual develops strong attitudes and behaviour to accomplish the goals. Adversely, motive strength decreases when he/she deviates from the goals, does not perform activity perfectly, imitates behaviour, bears frustration for longer period, makes excuses and tends to give up.
In order to create and nurture successful and rewarded circumstances around one, he/she may need to practice the following points.
1. Be sensitive and responsive to your surroundings.
2. Fulfil commitment what you have given to others.
3. Always be positive to the situation which you are/will be facing.
4. Develop learning and listening habits and be flexible to grasp other’s views and opinions.
5. Surround yourself with smart and accomplished people.
6. Build up strong network and relationship with the people in the society and organization.
7. Always practice time management.
8. Develop strong desire, need and make commitment to achieve them whatever situation prevails.
9. Mind it, everything is possible not the impossible.
10. Always keep on trying to do the work in different way what others have not done.
11. Generate new ideas, creativity and innovation to solve problems.
12. Become solution provider rather than problem talker.
13. Challenge the status-quo.
14. Explore all possibilities to serve the society.
15. Maintain ethics, trustworthiness and integrity.
16. Think outside the box.
17. Take initiatives and responsibility and give final result well in prescribed time, quality and quantity.
18. Draw other’s attention when you work and talk.
Rapid advancement in the field of technology, management and behavioural science is changing the social behaviour skill and professional skill. In this regard, personality development in the wake of building up entrepreneurial mindset at individual level and entrepreneurial culture at society/organizational level is playing a vital role to attain success in all walks of life.
Conclusion: We are surrounded by numerous problems and
issues such as low income, poverty, unemployment, poor life style, inadequate
infrastructure, etc can only be eradicated by inculcating entrepreneurial
culture and entrepreneurial mindset in the society as well as among the people.
The process of wealth generation in the economy can only be accelerated by
participation of large number of the people in the society.
References: 1.Entrepreneurship- Theory, Process, Practice (Seventh edition,2007); Donald F. Kuratko and Richard M. Hodgetts; Thomson South Western.
2. www.nfte.com › entrepreneurial-mindset.
Ministry of Skill Development & EntrepreneurshipThe Ministry is responsible for co-ordination of all Skill Development efforts across the country, removal of disconnect between demand and supply of skilled manpower, building the vocational and technical training framework, skill up-gradation, building of new skills and innovative thinking not only for existing jobs but also jobs that are to be created.
- Knowledge and Skill Development and Management,
- Planning and development,
- Performance measurement,
- Communication and presentation,
- Organizational system and Policies,
- Networking and business support mechanism,
- System development,
- Financial management,
- Risk/Crisis management,
- Ecosystem and organizational culture,
- Nature and Environment,
- Advocacy Skill,
- Leadership excellence,
- Strategic formulation.
- Focus on what matters:
- Develop Allies:
- Achieve Results
- Integrated Thinking:
- Focus on what matters:
- Write down your priorities on notes and checklist,
- Plan and prepare to do.
- Provide highest quality of life.
- Develop Allies: A manager cannot work to achieve desired result without support of others. He/ She develops a network of allies on which he/she relies while executing the work.He/She executes the work by (i).Managing his/her boss,(ii).Working collaboratively with his/her colleagues, and (iii).Delegating to subordinates.
- Achieve Results: In order to achieve desired results, the followings factors may be considered.
- Restate ( in15 words),
- Examine (Ask, Gather, talk, Look, Get, Determine),
- Search (for solutions),
- Compare ( pros and cons of the possible solutions),
- Utilize (solutions),
- Evaluate ( the results), and
- Revise (the solutions).
|What defines me?||>>>>||What problem do I solve?||>>>>||How do I solve this problem?||>>>>||What impact do I create?|
- Integrated/Creative Thinking:
- Objectivity: Seeking out reliable information and feedback.
- Learning: Continually filtering experience to produce best practice.
- Self-confidence: being willing to face uncertainty and emotional discomfort.
- Responsibility: taking personal responsibility for own actions and state of mind.
- Tolerance for ambiguity and paradox: letting go of the feeling that you cannot control everything.
- Action: demonstrating values through action every day.
- Balance in life: sorting out priorities and sticking to them.
- Creativity and Intuition: tapping into unconscious thoughts and feelings.
- Egolessness: making decisions that are free of ego considerations.
- Capacity Building Workshop, Participant Handbook, DC-MSME/GIZ, May 2014
- Biswajeet Pattanayak, ‘Human Resources Management’, Prentice Hall of India Pvt. Ltd, New Delhi, (2001)
- Brain Wallace, ‘Leadership for Strategic change’, Ashwin J, Shah, Jaico Publishing House Delhi (1997).
The word “WIN” is a verb and refers to achieving your target/ambition by overcoming the difficulties, which come on the way of accomplishment process, by putting your efforts while performing the work for completion. This situation (WIN) can be attained when you are sensitive to the environment, and have vision, confidence and aptitude of putting hard work with disciplined mindset.
Ignorance is a state of mind when a person lacks confidence, ambitions and disciplined mindset. He bears fear and confusion in his mind due to poor wisdom, knowledge, and skill. He may have desire to do something, but unable to do so because of above mentioned reasons. Then he starts pretending, abstaining, and avoiding attending the work. This kind of attitude repeats again and again and this attitude becomes habit (style of thinking). This set of mind creates fear and negativity in his mind. Ultimately, he starts justifying his stand by giving arguments as if he is right instead of telling his own problems. He starts abusing/criticizing the system/others as if he is right person but what to do others are not cooperating him. He designs and develops his own argument on the situation with fear in his mind. This stage is called ‘prejudice’. Such behavior is termed as ‘ignorance’. Now, ignoring something purposefully and knowingly is stupidity. But ignorance by mistake or unknowingly is excusable. He accepts his ignorance and tries to rectify himself and steps what he is to follow. So, Learning aptitude and listening skill are two most important tools to avoid ‘ignorance skill’. Poverty, illiteracy, unemployment, and practicing social evils are the outcomes of ignorant mindset. Attitude of ignorance can be stopped through empowerment process.
“Empowerment” is a process to building capability to achieve one’s ambition. It has three stages:
1. Developing willingness/desire to do,
2. Developing aptitude to try to do, and
4. Ignorance is the barrier at first stage of empowerment process itself.
REASONS OF IGNORANCE:
Ignorance mindset develops due to the following reasons:
1. Lack of value based education,
2. Bearing low ambition,
3. Lack of disciplined mind,
4. Lack of interest/desire to create wonder,
5. Having attitude to criticize others,
7. Lack of integrity,
8. Not maintaining cordial relationship with others,
9. Lack of listening skill,
10. Lack of learning aptitude,
11. Bearing fearful mind with future,
12. Lack of flexibility in attitude.
HOW TO AVOID IGNORANCE:
1. Develop self-loving personality,
2. Provide value based education,
3. Love and passion to your language, culture, and religion (nationalism),
4. Helping attitude,
5. Sensibility to the surrounding,
6. High ambition,
7. Strong desire to do something new for the society,
8. Let whole world infuse into your mind and soul,
9. Always think “I am always learning what I am going to do today.”
1. Make long term and short term objectives of your work to be done,
2. Set goals/targets to achieve the objectives,
3. Evolve course of action to accomplish goals/targets (Planning),
4. Execute the course of action (Organizing, staffing, directing and Coordinating),
5. Monitoring the work being done (Controlling),
6. Evaluating the outcomes obtained,
7. Redraw future course of actions,
8. Keep on working till you accomplish you objectives,
9. Document them properly,
10. Let the whole world know about your achievement.
“Success” in simple terms is achieving one’s target or ambition. Continual success in the life depends upon how an individual put his energy, time and resources in a productive manner. If the work done by him/her benefits the people, society and mankind as whole, his success is scaled and measured by them and work done by him/her is accepted by the society. This is in true sense a success. Hence, success is not a chance but it is a behavior. So our behavior should always be sharpened with vision, wisdom, and continual untiredsome hard work and we need to build up a behavior which would lead to success.
Hence, IGNORANCE is a curse for the human life and moving one step forward is the readiness to succeed.
Conclusion: The purpose of
writing this article with caption “YOU CAN WIN” is the first step to get ready
to overhaul an individual’s personality. Some evil thoughts and practices like
ignorance, negligence, rigidity in thoughts and mindsets, non-commitment, lack
of social behavior etc retard the success in the life. In other words, WIN-WIN position in the life
depends upon one’s entrepreneurial mindset.
Ranchi Television & Electronics Training Centre (RANTEC) is the outcome of enduring efforts made by a team of young dynamic educated enterprising and technically qualified people. In fact Centre is need of time. In the advent of electronics era and with the massive doordarshan expansion throughout the country and so in the region of Jharkhand the Institute is more significant. A few educated youths thought opening such an institute which will impart Training in various vocational courses and meet the growing need of technicians at the same time offer them opportunities in self employment and job opportunities in various industrial sectors.
The ITI courses has been started by this training centre in 1994 to insure a steady flow of skilled workers in different trades for the industry, to raise the quality and quantity of industrial production by systematic training of workers and to reduce unemployment among the educated youth by providing them suitable trainings in various trades.
The institute has got permanent affiliation with national council for vocational training (NCVT),Govt of India since 1996. The institute is committed for technical excellence and for securing high position for deserving candidates in large numbers in business and industry to contribute the economic development and prosperity of our country.
Since last few years after successful training, several students are working /employed in different parts of country in railway, public and private sectors and government departments.
It is unique institutions of its kind in Jharkhand , well equipped workshops, library, generator and practical facilities with expert and experienced supervisors who will impart intensive training.
INTRODUCTION TO BLOCKCHAIN TECHNOLOGY
Blockchain is an emerging
technology platform for developing decentralized applications and data storage, over and beyond its role as the technology underlying the cryptocurrencies. The basic theory of this platform is that it allows one to create a distributed and replicated ledger of events, transactions, and data generated through various IT processes with strong cryptographic guarantees of tamper resistance, immutability, and verifiability. Public blockchain platforms allow us to guarantee these properties with overwhelming probabilities even when untrusted users are participants of distributed applications with ability to transact on
the platform. Fundamentally
Three types of blockchains:-
2. private and
In a public blockchain, anyone can connect to the blockchain and with an appropriate computer and software and become a blockchain server node. No permission is needed. In a private blockchain which is typically owned and managed by a company or group of companies, permission is needed to join the private blockchain. The entire concept of blockchain is a combination of a handful of different concepts and techniques i.e. a distributed ledger system, peer-to-peer network, key cryptography, hashing, etc.
1. Blockchain Technology and Bitcoin Cryptocurrency
is simply a data structure where each block is linked to another block. The
blocks are linked to each other in a time-stamped chronological order. It is
distributed digital ledger of an immutable, public record of digital
History of Bitcoin:- Bitcoin was invented in 2008 by an unknown person or group of people using the name
Satoshi Nakamoto and started in 2009 when its source code was released as
open-source software. Bitcoins are created as a reward for a process
known as mining. They can be exchanged for other currencies, products, and
The Bitcoin whitepaper, Bitcoin: A Peer-to-Peer Electronic Cash
System, was published in 2008 by Satoshi Nakamoto. Bitcoin
is a digital payment currency that utilizes cryptocurrency (a digital medium of
exchange) and peer-to-peer (P2P) technology to create and manage monetary
transactions as opposed to a central authority. The open source Bitcoin P2P
network creates the bitcoins and manages all the bitcoin transactions.
Definition and Characteristics of Blockchain Basics Of Blockchain Every new record is validated across the distributed network before it is stored in a block. All information stored on the ledger is verifiable and auditable. Each block is identified by its cryptographic signature.
Distributed : In this distributed type database is
controlled by n number of nodes at the same time.
Anonymous : No identity like pan card, Adhar Card,
Voter Id, any physical identity have to be submitted, an anonymous identity is given by the system
which is called address.
Time- stamped : Each block is time stamped in a
chronological order, transactions are also time stamped.
Unanimous: The whole distributed network are executing
operations unanimously, every one is agree and every one is conscious of what
they are doing.
Immutable: The ledger is immutable because everyone is
working on same ledger.
Secure: Blockchain is secure because ledger is immutable.
Programmable: Blockchain is a programmable database.
1.Symmetric key cryptography :- This type of encryption is an encryption methodology that uses a single key to encrypt (encode) and decrypt (decode) cryptography data. It is the oldest and most well-known technique for encryption. The secret key can be a word, a number, or a string of letters, and it's applied to a message.
key cryptography :-
In such type of cryptographic arrangement, every node has two keys; Private key and Public key. The private
key is known only to the node owner whereas the public key is known to all the
nodes in the network. The
combination of a private key and a public key makes a unique digital signature
for every node. This makes the node authentic to carry out
transactions and verifications.
Blockchain as a secure record keeping system:-
Blockchain are the way of ordering and verifying transaction in a verified ledger. In the block chain thousands of computers in a distributed network use cryptographic techniques to create a permanent, public record of every single transaction that has occurred science creation of ledger.
Different Features of Blockchain:- Blockchain are Recorded
Transactions, Decentralized, Validity by many, Requires Consensus, Transparent
and Unable to Hack.
Features of Blockchain Based Solutions are :
- Complexity reduction,
- Shared trusted transaction,
- Error reduction,
- Straight-through-processing, and
Benefits of Blockchain Based Solutions are:
- Transaction time changes from days to near instantaneous,
- Overheads and cost intermediated reduction,
- Reduces the risk of tampering, and
- Reduces fraud and cyber crime.
Types of Bitcoin Wallet
Web Wallets :- These are websites or even online
exchange that allows storage examples are Blockchain.info, Greenaddress,
Coinbase, Coinbase Value Storage.
Mobile Wallets:- A smartphone wallets is easy to scane QR
codes to make quick payments example: Breadwallet, Mycelium, AirBitz,
Desktop Wallets:- These are apps installed in desktop
computer or laptap. Examples are Electrum, Multibit, Armory.
Hardware Wallets:- A piece of hardware is used to store the
private key to our bitcoins. Examples are Coindesk, Bitadress.
Multi-Signature Wallets:- These wallets require multiple private key signatures to make a transactions. Examples are CarbonWallet, Coinbase, Blocktrail, Coinkite.
2. Ehereum And SmartContracts
Ethereum: Ethereum was
conceptualized by Vitalik Buterin in November 2013, it is a distributed public
Blockchain network. The key idea proposed was the development of a
Turing-complete language that allows the development of smart contracts for
blockchain and decentralized applications.
aims to enable innovations in four key areas: Currency issuance,
Decentralized Autonomous Organizations
(DAO), Smart Contracts, Smart Property.
Contract: A smart contract is
computerized transaction protocol that executes the terms of a contract. When
running on the blockchain a smart contract becomes like a self-operating
computer program that automatically executes when specific conditions are met.
Comparison Between Bitcoin & Ethereum
Satoshi Nakamoto (unknown)
Vitalik Buterin and team
Coin Release Method
Average block time
~ 12-15 seconds
is an open source community focused on developing a suite of stable frameworks,
tools and libraries for enterprise-grade blockchain deployments. It serves
as a neutral home for various distributed ledger frameworks including
Hyperledger Fabric, Sawtooth, Indy, as well as tools like Hyperledger Caliper
and libraries like Hyperledger Ursa.
Hashgraph A hashgraph is a patented algorithm that promises the benefits of the blockchain (decentralization, distribution, and security through the use of hashing) without the drawback of low transaction speed. It was created by Leemon Baird and is the intellectual property of the Swirlds Corporation, which Baird founded. While Bitcoin allows for approximately 5 transactions per second and Ethereum allows for approximately 15 transactions per second, a hashgraph can process thousands of transactions per second.