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.

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.

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.

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 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 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.

scholarly journals The Possibilities of Applying Blockchain Technology in Shipping

Pomorstvo ◽  
2019 ◽  
Vol 33 (2) ◽  
pp. 274-279 ◽  
Author(s):  
Alen Jugović ◽  
Juraj Bukša ◽  
Alex Dragoslavić ◽  
David Sopta
Keyword(s):  
Peer To Peer ◽  
Maritime Transport ◽  
Broad Application ◽  
Blockchain Technology ◽  
Peer Network ◽  
Peer To Peer Network ◽  
Over Time

Blockchain technology is a decentralized database which stores the registry of property and transactions using a peer-to-peer network, secured by cryptography, and over time, its history is locked into blocks of data which are cryptographically connected and secured. The blockchain technology was primarily designed for application in cryptocurrency transactions and related digital agreements. Due to its immutable and infallible record of all transactions within the network, the potential of this technology for broad application has been recognized. This paper analyzes the possible advantages of applying blockchain technology in logistics and maritime transport.

Limited Search Mechanism for Unstructured Peer-to-Peer Network

2014 ◽  
Vol 24 (8) ◽  
pp. 2132-2150
Author(s):  
Hong-Yan MEI ◽  
Yu-Jie ZHANG ◽  
Xiang-Wu MENG ◽  
Wen-Ming MA
Keyword(s):  
Peer To Peer ◽  
Search Mechanism ◽  
Peer Network ◽  
Peer To Peer Network

scholarly journals A Semantic Peer-to-Peer Network for Service Composition in Scientific Domains

2013 ◽  
Vol 9 ◽  
pp. 215-225 ◽  
Author(s):  
Tadeu Classe ◽  
Regina Braga ◽  
Fernanda Campos ◽  
José Maria N. David
Keyword(s):  
Service Composition ◽  
Peer To Peer ◽  
Peer Network ◽  
Peer To Peer Network
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