Concept of Blockchain Technology

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.

Future Internet

Blockchain is a new technology, often referred to as the Internet of Value. As with all new technologies, there is no consensus on its potential value, with some people claiming that it will bring more disruptive changes than the Internet and others contesting the extent of its importance. Despite predictions that the future is perilous, there is evidence that blockchain is a remarkable, new technology that will change the way transactions are made, based on its ability to guarantee trust among unknown actors, assure the immutability of records, while also making intermediaries obsolete. The importance of blockchain can be confirmed by the interest in digital currencies, the great number of published blockchain papers, as well as MDPI’s journal Future Internet which exclusively publishes blockchain articles, including this special issue covering present and future blockchain challenges. This paper is a survey of the fast growing field of blockchain, discussing its advantages and pos...

Future Internet

The real-world use cases of blockchain technology, such as faster cross-border payments, identity management, smart contracts, cryptocurrencies, and supply chain–blockchain technology are here to stay and have become the next innovation, just like the Internet. There have been attempts to formulate digital money, but they have not been successful due to security and trust issues. However, blockchain needs no central authority, and its operations are controlled by the people who use it. Furthermore, it cannot be altered or forged, resulting in massive market hype and demand. Blockchain has moved past cryptocurrency and discovered implementations in other real-life applications; this is where we can expect blockchain technology to be simplified and not remain a complex concept. Blockchain technology’s desirable characteristics are decentralization, integrity, immutability, verification, fault tolerance, anonymity, audibility, and transparency. We first conduct a thorough analysis of b...

International Journal of Computer Applications, 2017

Blockchain is being termed as the fifth disruptive innovation in computing. In simplest words, it is a distributed ledger of records that is immutable and verifiable. Since its advent in 2008, blockchain as a concept has been used in various ways. The largest impact or application is seen as a multitude of cryptocurrencies that have sprung up. However, with time, it has become clear that blockchain as a technology is likely to have an impact much wider than just the cryptocurrency domain and much deeper than simple distributed ledger storage. This detailed survey intends to bring together all the key developments so far in terms of putting blockchain to practice. While the most common adoption of blockchain is in finance and banking domain, there are experiments being conducted by many big players in various other domains. This paper will explore the various domains where blockchain has had an impact and where future implementations may be expected.

SN Computer Science, 2020

The blockchain technology first emerged with the Bitcoin whitepaper, which was the first successful proposal to implement a decentralized digital currency with ability to execute completely non-reversible transactions without a trusted and centralized third party. Blockchain concept provided an inherent part of this decentralization together with hash-based proof-of-work, public key cryptography, and peer-to-peer network. Even though blockchain technology was introduced to solve the doublespending problem of electronic money without relying on a trusted third party, this particular concept is being researched and already used to solve problems in many other areas. This paper captures concepts of blockchain, its applications, issues, and suggested improvements referring to blockchain-related subsequent publications.

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, the foundation of Bitcoin, has received extensive attentions recently. Blockchain serves as an immutable ledger which allows transactions take place in a decentralized manner. Blockchain-based applications are springing up, covering numerous fields including financial services, reputation system and Internet of Things (IoT), and so on. However, there are still many challenges of blockchain technology such as scalability and security problems waiting to be overcome. This paper presents a comprehensive overview on blockchain technology. We provide an overview of blockchain architechture firstly and compare some typical consensus algorithms used in different blockchains. Furthermore, technical challenges and recent advances are briefly listed. We also lay out possible future trends for blockchain.

Zenodo (CERN European Organization for Nuclear Research), 2022

With the exponential advancement in blockchain technology, blockchain brought considerable change to businesses and technology, making a tamper-proof and decentralised approach that can verify and track transactions. Blockchain brings in data integrity, transparency and privacy, which helps multiple fields achieve a decentralised approach. This paper will explore the principles, application and challenges of blockchain technology.

International Journal of Web and Grid Services, 2018

Blockchain has numerous benefits such as decentralisation, persistency, anonymity and auditability. There is a wide spectrum of blockchain applications ranging from cryptocurrency, financial services, risk management, internet of things (IoT) to public and social services. Although a number of studies focus on using the blockchain technology in various application aspects, there is no comprehensive survey on the blockchain technology in both technological and application perspectives. To fill this gap, we conduct a comprehensive survey on the blockchain technology. In particular, this paper gives the blockchain taxonomy, introduces typical blockchain consensus algorithms, reviews blockchain applications and discusses technical challenges as well as recent advances in tackling the challenges. Moreover, this paper also points out the future directions in the blockchain technology.

International Journal of Advances in Computer Science and Technology , 2024

The digital code of blockchain technology has revolutionized every aspect of business, commerce and industry. This new system eliminates the need to store and manage codes by providing timely and immutable data. Unlike the traditional systems, these blocks are not specific to a particular organization but are monitored by a network of nodes or computers. Strong encryption protection and connect all blocks together. Blockchain's immutability and security have revolutionized fundamental concepts such as trust, ownership, identity, and financial transactions[6]. This technology enables secure, fast, transparent and pseudonymous transactions. A source of information about blockchain, this article provides an in-depth study of blockchain's history, principles and popularity. Additionally, various consensus algorithms used in the blockchain technology are also carefully examined. Originally conceived as a system for cryptocurrencies, blockchain has evolved into a transformative force across industries. The article discusses the concepts, methods and applications of blockchain technology. Blockchain's decentralized structure, driven by decentralized ledgers and encrypted confirmation, ensures reliability, and security and transparency of information transactions. This research contributes to the growing body of knowledge about blockchain and is useful for researchers, practitioners, and policymakers who want to better understand the technology's impact and future directions. Additionally, this article will examine various applications and real-life examples of blockchain technology and addresses related issues and problems [2-8]. The presentation of non-current events expands the range of the potential applications. This study provides a better understanding of all aspects of blockchain by providing an overview of the products.

International Journal of Engineering Applied Sciences and Technology

Data is one of the most significant resources. In this digital era, cyber security has become the worldwide issue. Since cyber criminals are getting progressively skilful in their attempts to destroy the valuable data, securing this data has become mandatory. Different procedures have been developed in the past to secure the data, but there are no bounds to security threats, resulting in theft of information from the devices. Currently Blockchain technology is the best tool to secure the data. Blockchain, originally known as Bitcoin, has become very popular technology to digitally create and manage transactions. It is a form of distributed public ledger which analyses and verifies transactions in decentralized manner and data is not under the control of any third party organization. This rapidly evolving technology can possibly change the opinion about digital transactions in various areas such as energy supply, peer-to-peer global payments, financial transactions, agriculture and industry. Regardless, this rising innovation is still in its beginning period of progression. Inspite of several opportunities offered by blockchain, it has limitations such as transaction cost, scalability, consistency security and administration issues which has not yet been addressed and investigated. In spite of the fact that there are a couple of studies on the security and privacy issues of the blockchain, they do not have an efficient assessment of the securing blockchain architectures. This paper presents a detailed architecture of blockchain technology along with systematic study of the security attacks rising in blockchain technology.

International Journal of Engineering Research & Advanced Technology (IJERAT), 2022

The increasing need for organizations to keep a high level of synchronization around the world and the coming of new advancements are pushing increasingly more to move decision-making and operational power from the focus of associations to their edges. The blockchain could be the critical innovation to roll out this improvement conceivable. A blockchain is essentially a distributed database of records or public ledger of all transactions or digital events that have been executed and shared among participating parties. Blockchain is pleased with the fact that it provides high satisfaction and a trust bond to its users. Data immutability, decentralization, anonymity, auditability, and transparency are the main features that make blockchain an attractive technology. This paper presents a study of blockchain technology to provide a comprehensive analysis that includes types, architecture, components, characteristics, and applications of blockchain.

2024

Blockchain technology represents a groundbreaking innovation in data management and security. By utilizing decentralized, transparent, and immutable ledgers, it eliminates the need for intermediaries and enhances trust across various sectors. This paper explores the scope, current and future applications, its transformative impact on financial systems and information security, participation pathways, and its technical underpinnings. Additionally, the document discusses its application in cryptocurrencies like Bitcoin and emerging domains, offering a comprehensive guide to understanding and leveraging blockchain technology.

IEEE Access , 2019

In the past few years, the implementation of blockchain technology for various applications has been widely discussed in the research community and the industry. There are sufficient number of articles that discuss the possibility of applying blockchain technology in various areas, such as, healthcare, IoT, and business. However, in this article, we present a comparative analysis of core blockchain architecture, its fundamental concepts, and its applications in three major areas: the Internet-of-Things (IoT), healthcare, business and vehicular industry. For each area, we discuss in detail, challenges and solutions that have been proposed from the research community and industry. This research studies also presented the complete ecosystem of blockchain of all the papers we reviewed and summarized. Moreover, analysis is performed of various blockchain platforms, their consensus models, and applications. Finally, we discuss key aspects that are required for the widespread future adoption of blockchain technology in these major areas.

International Journal of Engineering and Computer Science

Blockchain is defined as a group of unsegregated blocks over a P2P network. It is also considered as a decentralised ledger which holds the records of any online event. It offers a secure platform for knowledge and value transfer even in an untrustworthy network. In digital transactions on blockchain, each transaction is verified by all the nodes within the network using consensus protocol. Through this paper we will give a comprehensive overview of how Blockchain technology works, its current and future applications and how it can change the digital events in future.