IJERT-A Study on Blockchain Technology and its Applications (original) (raw)
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Blockchain and the Application of Blockchain Technology
MEST Journal
Thanks to cryptocurrencies, blockchain technology has recently become the focus of interest of both scientists and the public. The paper presents the principles on which blockchain is based and analyzes the possibilities of the application of blockchain technology in more detail. In a part of the analysis, some of the most common cryptocurrencies were considered, such as Bitcoin, Ethereum, USD Coin, Ripple, and ADA. Blockchains' applicability in supply chains, finance, real estate, health care, voting, and smart cities the authors discussed in the chapter about the application of blockchain technology. A separate chapter discusses the limitations of blockchain technology. Based on the analysis, at the end of the paper, the authors conclude that blockchain technology has great potential in automating and optimizing business processes and protecting the information and privacy of users. Given the demonstrated interest of companies in blockchain technology, investments, and demand ...
Book Preview Advanced Application of Blockchain Technology Dr.P.J
Blockchain is an emerging technology that has the potential to significantly enhance the safety of transactions across a variety of transaction networks, including banking, supply chain, and others. By the year 2030, it is anticipated that Blockchain technology will have contributed $3.1 trillion in new company value. It serves as the foundation for a dynamic distributed ledger, which is something that can be used to cut down on the amount of time spent documenting transactions between parties, eliminate the expenses that are associated with intermediaries, and lower the danger of fraud and tampering. This book's objective is to provide a comprehensive examination of the many ways in which blockchain technology might be adapted to, and used for practical business applications. Blockchain technology is gaining traction in all industries that do high-volume transactions daily. This book covers all there is to know about blockchain technology and may be used by computer science postgraduate students, researchers, and practitioners at both the fundamental and intermediate levels. It demonstrates the quick progress that has been accomplished in the current business model by employing the principles of blockchain technology. This book examines both the theoretical underpinnings of Blockchain technology as well as its practical implementations. Readers will get an understanding of the iv trust model, distributed ledger, and decentralized peer-topeer network that are characteristics of Blockchain technology. They will also get familiar with the fundamental elements of Blockchain technology, including transactions, blocks, block headers, and chains; Blockchain's operations, including hashing, verification, validation, and consensus models; Blockchain's underlying algorithms; and the fundamentals of trust, including hard forks and soft forks. The principles of Smart Contracts, Proof of Work, and Proof of Stack will also be presented, along with the introduction of public and private Blockchain networks that are analogous to Bitcoin and Ethereum. v PREFACE This book, which is titled "Advanced Applications of Blockchain Technology", discusses not only the technical applications of Block chain but also its fundamental components. Hash functions, cryptography, and consensus are the components that make up these building blocks. The only purpose of this book is to provide a thorough introduction to both the theoretical and practical elements of blockchain technology. This book includes all that one needs to know to have a complete comprehension of blockchain technology. Following the completion of this book, readers will be able to build an in-depth grasp of the inner workings of blockchain technology and will also be able to create apps that use blockchain technology. This book covers all there is to know about blockchain technology, including cryptography, cryptocurrencies, Bitcoin, Ethereum, and a variety of additional platforms and technologies that are utilized for the construction of blockchains. For readers to get the most out of this book, it is highly suggested that they have some prior experience with basic programming and a fundamental grasp of computer science. Nevertheless, even if such is not the case, it is still possible to read this book without much difficulty since pertinent background data is presented whenever it is essential. vi TABLE OF CONTENT
BLOCKCHAIN TECHNOLOGY-AN EXTENSIVE STUDY ON ITS USERS AND APPLICATIONS
Blockchain technology has gained more and more exposure in multidisciplinary domains with its incomparable adaptability and versatility. Blockchain network makes every action accountable and verifiable, the features that contributed to its popularity. However not every application could deliberate it as a solution. This paper attempts to provide an outline of how blockchain works and which all application can adopt this technology, so that, the application could enhance its overall potency. Applications could use blockchain either as a stand-alone technology or could be combined with other technologies for further enhancements. This paper also tries to classify blockchain applications.
The Most Secured Technology: Blockchain and Its application in Various Sectors
International Journal of Computer Trends and Technology, 2019
Blockchain is the most amazing technology for upcoming inflictions in computing. It is a decentralized, digitized, creative and innovative invention of the present world by an individual or a group work under the pseudonym, Satoshi Nakamoto in 2008. Distributed ledger of records is immutable and verifiable in Blockchain that's why it is impossible to manipulate any data in existing blocks. Although the most common assumption of blockchain is cryptocurrency, there are explorations in different other sectors. This paper analysis the scope of reviewing the blockchain technology which will introduce the latest research field of its applications. However, it will also highlight the opportunities as well as the challenges in front of the recent technology which is developing our digital world.
Blockchain Technology and its Use Cases
International Journal for Research in Applied Science & Engineering Technology (IJRASET), 2022
Blockchain is a disruptive core technology that has the potential to change the internet as we know it, forever. Transactions on blockchain are completely decentralised. Although , we can say it is its very crucial property that we need over traditional second generation web aka web2.0. In this research, we had discussed about the fundamentals, working principles, and upcoming future use cases to get a stable, privacy oriented working. We explored the top articles, most productive countries, top most education sources to do evaluation on the future use cases of blockchain in day to day life. In this paper, we will get knowledge about the top most advantages of blockchain over previous technology. Architecture of blockchain like nodes & networks are also discussed in this paper. We had discussed the core principles of decentralisation, distributed database ledgers: bill book type management to store all activities & transaction, cryptography: to protect the system from unethical activities. Cryptography derived or explains the us concepts of proof of work (POW) and proof of stake (POS). These concepts increases the trust and productivity on the blockchain. We will discuss about all types of security practices like Hashing, Private keys, Consensus: inspector of modern blockchains, architecture (nodes & network) etc. At last we will discussed the future use cases of blockchain.
International Journal of Hyperconnectivity and the Internet of Things, 2017
This article describes how Blockchain is a technology that has a great potential to change the way business is done in the future, exactly like the internet did in the early nineties. Blockchain offers new opportunities to develop new types of digital services to overcome business problems, and improve business practices by making transaction information a public resource. While research on the topic is still emerging, it has mostly focused on crypto-currencies instead of taking advantage of this novel concept to create new advanced services. This article discusses blockchain and the technology behind it, some of its possible applications, as well as threats targeting the new poorly understood technology.
Introduction to Blockchain: An Emerging Technology
2021
It is only a matter of time before technology emerges to open up a whole new world of opportunities. For example, the invention of the Internet was a development like this that changed the world in almost every theory. Blockchain technology is also one of the emerging technological advances that is expected to change the way transactions are conducted, thus affecting a wide range of potential applications. Blockchain is a distributed software network that works both as a digital logger and a method that allows secure transfer of assets without a mediator. Just as the Internet is a technology that facilitates the flow of digital information, blockchain is a technology that facilitates the digital exchange of digital value. Anything from coins to land titles to votes can be token, stored, and exchanged via a blockchain network.
Review on Blockchain Technology
International Journal for Research in Applied Science & Engineering Technology (IJRASET), 2021
Blockchain is a technology that has the potential to cause big changes in our corporate environment and will have a significant influence over the next few decades. It has the potential to alter our perception of business operations and revolutionise our economy. Blockchain is a decentralised and distributed ledger system that, since it cannot be tampered with or faked, attempts to assure transparency, data security, and integrity. Only a few studies have looked at the usage of Blockchain Technology in other contexts or sectors, with the majority of current Blockchain Technology research focusing on its use for cryptocurrencies like Bitcoin. Blockchain technology is more than simply bitcoin; it may be used in government, finance and banking, accounting, and business process managementAs a result, the goal of this study is to examine and investigate the advantages and drawbacks of Blockchain Technology for current and future applications. As a consequence, a large number of published studies were thoroughly assessed and analysed based on their contributions to the Blockchain body of knowledge.
Blockchain: Overview, Practical Implementation & Its Uses
International Journal of Research, 2019
Advanced from the Merkle Tree, Blockchain Technology is a completely decentralized computerized register which keeps a protected history of information trades. The decentralization part of Blockchain Technology does away the need of any focal specialist for overseeing it. In this paper we present an exhaustive diagram on blockchain innovation. We initially start by revealing insight into the basics of Blockchain Technology then we investigate some run of the mill calculations utilized in different blockchains. Blockchain, the establishment of Bitcoin, has gotten broad consideration as of late. Being an ineradicable information putting away innovation, Blockchain can be utilized in budgetary resources as well as anything which has some worth. In any case, being a human development, drawbacks are even here in the blockchain innovation, for example, versatility issues, security issues, and not really easy to use for nonspecialized individuals. Next, with regular specialized issues we have discussed the ongoing advances. We in conclusion finish up this paper by spreading out conceivable future improvements of blockchain innovation.
Blockchain, the technology behind most cryptocurrencies that exist today, offers a paradigm shifting technology that has the potential to transform the way that we record and verify events on the Internet. By offering a decentralized, immutable, community verified record of transactions, regardless of what these transactions represent, blockchain technology promises to transform many industries. In this paper, we provide a survey of this very important technology and discuss its possible use-cases and its effect on society. The purpose of this paper is to familiarize the reader with the current state-of-the-art in the blockchain world both in terms of technology and social impact.