scholarly journals Blockchain Beyond Cryptocurrency: Non-Fungible Tokens

2021 ◽  
Author(s):  
Burcu Sakız ◽  
Ayşen Hiç Gencer
Keyword(s):  
Business Models ◽  
Disruptive Innovation ◽  
Peer To Peer ◽  
Smart Contracts ◽  
Blockchain Technology ◽  
Wide Range ◽  
Peer Network ◽  
Work Mechanism ◽  
Distributed Networking ◽  
Peer To Peer Network

Blockchain technology is a disruptive innovation with the potential to replace existing business models that rely on centralized systems and third parties for trust. Even if there are a lot of application areas, blockchain used primarily for cryptocurrencies. Satoshi Nakamoto implemented the first blockchain application and invented the world’s first digital currency which is named as Bitcoin in 2008. Fundementally Bitcoin relies on cryptographic “proof of work” mechanism, digital signatures, and peer to peer distributed networking layer in order to provide a distributed ledger holding transactions. In 2014, a second generation of blockchains allow to program and execute them over distributed networks such as Ethereum project. The code to program any asset stored in blockchain’s peer-to-peer network is called as "smart contract" and smart contracts gives a powerful tool to developers for decentralized applications. There are various types of tokens that anyone can built on top of Ethereum and by combining smart contracts and new tokens, this paved the way of possibility to build a wide range of decentralized projects. One of the disruptive blockchain based innovation impacting intellectual property is called non-fungible-tokens or NFTs firstly introcuced in late 2017 on Ethereum network. This research contends that blockchain and non-fungible tokens (NFTs) which are cryptographically unique, scarce, non-replicable digital assets created through smart contracts and provably digital collectible assets. Our objective is to give NFT taxonomy, review NFT platforms and discuss technical challenges as well as recent advances in tackling the challenges. Moreover, this paper also aims to point out the future directions for NFT technology.

scholarly journals A Decentralized E-Voting System Based on Blockchain Network

2019 ◽  
Vol 8 (12) ◽  
pp. 3650-3652
Keyword(s):  
Peer To Peer ◽  
Third Party ◽  
Electronic Voting ◽  
Smart Contracts ◽  
Blockchain Technology ◽  
Peer Network ◽  
Voting System ◽  
Electronic Voting System ◽  
Peer To Peer Network

This paper describes a decentralized electronic voting system using blockchain technology with peer-to-peer network rather than the centralized voting system of server-client structure. In the proposed system, an Ethereum-based private blockchain network is configured and decentralized applications are implemented to store and distribute voting data to all nodes participating in the network to create secure and reliable electronic voting system. Smart contracts for electronic voting are implemented using the Solidity language and distributed to a configured network so that all users can view and vote on elections, and voting data are shared and contrasted by all users in the network, which makes it possible to build a safer and more reliable electronic voting system without third party involvement.

scholarly journals Survey on Surging Technology: Cryptocurrency

2018 ◽  
Vol 7 (3.12) ◽  
pp. 296 ◽  
Author(s):  
Swathi Singh ◽  
Suguna R ◽  
Divya Satish ◽  
Ranjith Kumar MV
Keyword(s):  
Electronic Commerce ◽  
Transaction Costs ◽  
Hash Functions ◽  
Peer To Peer ◽  
Digital World ◽  
Wide Range ◽  
Peer Network ◽  
Digital Money ◽  
Peer To Peer Network ◽  
Cryptographic Hash Functions

The paper gives an insight on cryptography within digital money used in electronic commerce. The combination of digital currencies with cryptography is named as cryptocurrencies or cryptocoins. Though this technique came into existence years ago, it is bound to have a great future due to its flexibility and very less or nil transaction costs. The concept of cryptocurrency is not new in digital world and is already gaining subtle importance in electronic commerce market. This technology can bring down various risks that may have occurred in usage of physical currencies. The transaction of cryptocurrencies are protected with strong cryptographic hash functions that ensure the safe sending and receiving of assets within the transaction chain or blockchain in a Peer-to-Peer network. The paper discusses the merits and demerits of this technology with a wide range of applications that use cryptocurrency.  

Cryptocurrencies, Blockchain Technology and Sustainability

2020 ◽  
Author(s):  
Burcu Sakız ◽  
E. Ayşen Hiç Gencer
Keyword(s):  
Decentralized Control ◽  
White Paper ◽  
Central Banking ◽  
Peer To Peer ◽  
Digital Currency ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Peer Network ◽  
Peer To Peer Network ◽  
Made In

Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons believed to be the inventor of cryptocurrency Bitcoin, came up with the concept of blockchain as a core component of it when published a white paper on “BitCoin: A peer to peer electronic cash system” in 2008, blockchain technology made its public debut. Bitcoin is generally considered the first decentralized cryptocurrency and since the release of it, over 6,000 altcoins have been created. Cryptocurrencies use decentralized control as opposed to well-known, traditional centralized digital currency and also central banking systems. The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain. Blockchain is a system that in which a record of transactions made in cryptocurrencies are maintained across several computers/servers that are linked in a peer-to-peer network. Blockchain based applications provides many opportunities to create a more sustainable world. This paper contribute to the discussion on future avenues for sustainability especially in terms of cryptocurrencies and blockchain based platforms and services.

The Development of Ordered SQL Packages in Peer-to-Peer Data Warehousing Environments

2011 ◽  
pp. 72-103
Author(s):  
Wilfred Ng ◽  
Mark Levene
Keyword(s):  
Data Warehousing ◽  
Effective Means ◽  
Dynamic Environment ◽  
Peer To Peer ◽  
Relational Model ◽  
Wide Range ◽  
Peer Network ◽  
Partial Orderings ◽  
Data Content ◽  
Peer To Peer Network

This chapter discusses how the capabilities of database languages are enhanced to manipulate user-defined data orderings within the framework of the Ordered Relational Model (the ORM), which incorporates partial orderings into data domains. The motivation for applying the ORM in data warehousing environment is that business queries in an enterprise usually involve order. We have already defined and implemented Ordered SQL (OSQL), which allows users to capture the underlying semantics of the ordering of the data for a given application. Herein we demonstrate that OSQL aided with a package discipline can be an effective means to manage the inter-related operations and the underlying data domains of a wide range of advanced applications that are vital in data warehousing, such as temporal, incomplete, and fuzzy information. We also discuss the employment of OSQL system with three packages of OSQL_TIME, OSQL_INCOMP, and OSQL_FUZZY over a Peer-to-Peer network. Using our suggested framework, the data content of a data warehouse can be better adapted in a dynamic environment.

scholarly journals Adoption of Blockchain to build a Cryptocurrency for Ledger Systems

2019 ◽  
Vol 9 (1) ◽  
pp. 1143-1151
Keyword(s):  
Human Resource ◽  
Peer To Peer ◽  
Distributed Network ◽  
Governing Body ◽  
Blockchain Technology ◽  
Use Of Technology ◽  
Peer Network ◽  
Peer To Peer Network ◽  
Over Time

The idea of the cryptocurrency was to decentralize the currency system by establishing transactions over distributed peer to peer network [1]. The technology of Blockchain was adopted to achieve this motive. The term blockchain comes from the idea of list of blocks, growing continuously over time wherein every block carries the data relating to the transactions and data regarding the cryptographical linkage using secure hash algorithms and the protocols [2]. Through this paper, we have shown the implementation of the blockchain technology so as to build the cryptocurrency. While building up the cryptocurrency, called the ‘SantCoin’, the idea about how this technology can revolutionize the traditional existing ledger systems can be upgraded so as to implement secure means of transactions over a distributed network. This implementation work suggests the use of technology in almost every governing body so that they can secure themselves and limit the dependency on human resource to do their central authoritative work [3].

scholarly journals An Applicability of Blockchain Model in Business use Case - A Technical Approach

2021 ◽  
Author(s):  
Anitha Premkumar
Keyword(s):  
Business Models ◽  
Business Networks ◽  
Business Network ◽  
Technical Approach ◽  
Electronic Communications ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Peer Network ◽  
Peer To Peer Network ◽  
Transaction Processing Systems

Business network brings many organizations close together to achieve their desired goals and profit from it. People from different organizations may or may not know each other but still can be part of a business network. A major challenge with these business networks is how to provide trust among people and data security. Blockchain is another means through which many organizations in the current digital age are overcoming these problems with ease. Blockchains have also changed the way the business transactions with clients take place. Blockchain is a decentralized distributed ledger in a peer to peer network which can be public or private, and it enables individuals or companies to collaborate with each other to achieve trust and transparency between business and its clients. Many implementations of blockchain technology are widely available today. Each of them have their own strengths for a specific application domain. They can fundamentally alter electronic communications with a potential to affect all sorts of transaction processing systems. However, there are still many challenges of blockchain technology waiting to be solved such as scalability and adoptability. In this paper, we provide the knowledge on Blockchain technology and we present the applicability of blockchain in the business models and also discuss the relevant use cases for Banking and Supply Chain models.

scholarly journals A study on blockchain technology

2018 ◽  
Vol 7 (2.7) ◽  
pp. 418
Author(s):  
P S. G. Aruna Sri ◽  
D Lalitha Bhaskari
Keyword(s):  
Emerging Technology ◽  
Peer To Peer ◽  
Blockchain Technology ◽  
Innovative Technique ◽  
Peer Network ◽  
Transactional Data ◽  
Privacy Issues ◽  
Peer To Peer Network

Blockchain is a one of emerging technology for decentralized and sharing of transactional data across a large peer to peer network, where non-trusting members can interact with each other without an intermediary, in a verifiable manner. In this paper, we review the basics of Blockchain, its applications, types, and working of Blockchain. Behind this innovative technique, the security, privacy issues and Con-sensus mechanisms of this technology are also important and are a matter of concern. The problems associated with Blockchain technol-ogy are also discussed in this paper.  

scholarly journals Application of Bitcoin in Blockchain - A Systematic Literature Review

2019 ◽  
pp. 441-451
Author(s):  
Abhishek Jha ◽  
B. Indira Reddy
Keyword(s):  
Literature Review ◽  
Systematic Literature Review ◽  
Peer To Peer ◽  
Digital Currency ◽  
Digital World ◽  
Blockchain Technology ◽  
Peer Network ◽  
Peer To Peer Network

Bitcoin is a Cryptocurrency which is evolving in digital world and gaining a larger market related to digital currency and stands on all the user expectation of decentralize mechanism of system by providing proof of work in peer-to-peer network with the help of Blockchain. In this paper I have done a literature review on Blockchain technology and its application in Bitcoin.

Blockchain Technology

2022 ◽  
pp. 16-27
Author(s):  
Mohammad Khalid Imam Rahmani
Keyword(s):  
Deep Understanding ◽  
Peer To Peer ◽  
Research Trends ◽  
Consensus Algorithms ◽  
Detailed Review ◽  
Blockchain Technology ◽  
Peer Network ◽  
Future Challenges ◽  
Peer To Peer Network ◽  
Hash Codes

Blockchain is a distributed decentralized peer-to-peer network aiming to facilitate the immutability and security of data. Towards the service orientation, blockchain is a collection of distributed blocks having unique hash codes without any point of failure. Each block is stored on distributed ledgers, and transactions with them are secure, transparent, immutable, and traceable. To create a new block and allow a transaction to complete, an agreement between all parties is required. To reach an agreement in a blockchain network, consensus algorithms are used. In this chapter, fundamental principles and algorithms of blockchain networks have been discussed, and a detailed review of the blockchain consensus algorithms PoW, PoS, DPoS, PoET, PoWeight, PoB, PoA, and PoC have been provided including the merits and demerits of consensus algorithms with analysis to provide a deep understanding of the current research trends and future challenges.

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