Blockchain and Beyond
Journal Title: International Journal of Trend in Scientific Research and Development - Year 2021, Vol 5, Issue 4
Abstract
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. Each transaction in the public ledger is verified by consensus of a majority of the participants in the system. And, once entered, information can never be erased. The blockchain contains a certain and verifiable record of every single transaction ever made. Bitcoin, the decentralized peer to peer digital currency, is the most popular example that uses blockchain technology. The digital currency bitcoin itself is highly controversial but the underlying blockchain technology has worked flawlessly and found a wide range of applications in both the financial and nonfinancial world. The main hypothesis is that the blockchain establishes a system of creating a distributed consensus in the digital online world. This allows participating entities to know for certain that a digital event happened by creating an irrefutable record in a public ledger. It opens the door for developing a democratic open and scalable digital economy from a centralized one. There are tremendous opportunities in this disruptive technology and revolution in this space has just begun. This white paper describes blockchain technology and some compelling specific applications in both the financial and nonfinancial sector. Nandan Chitale | Yogeshchandra Puranik "Blockchain and Beyond" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42425.pdf Paper URL: https://www.ijtsrd.comcomputer-science/other/42425/blockchain-and-beyond/nandan-chitale
Authors and Affiliations
Nandan Chitale | Yogeshchandra Puranik
Keywords
Related Articles
- EP ID EP695762
- DOI -
- Views 72
- Downloads 0
Critical Time '“Motion and Economic Analysis of Linear and Rotary Gravity Conveyor for application One man multi-machine setup as low cost automation in material handling
The rapid growth of technology in the last two decades has been characterized by full automation. As only the affluent and developed countries can afford to adopt full automation, a large productivity gap has been create...
Effect of Articulated Anterior Floor Reaction Orthosis on Gait Efficiency Stride and Characteristic in Diplegic Children with Crouch Gait
Introduction Cerebral palsy is the most common physical disability in childhood. It is a disorder resulting from sensory and motor impairments due to perinatal brain injury with lifetime consequences that range from poor...
Food Defense An Introduction
Food defense is the process of protecting food products from intentional contamination or adulteration, which aims to harm consumers, business establishments, or the public health. It refers to a system in place to preve...
A Review Paper Study on Tall Structure for Hilly and Plane Surface under Seismic and Wind Load Conditions
Earthquakes occur when energy stored in elastically strained rocks is suddenly released. This release of energy causes severe ground shaking in the areas near the source of the earthquake and sends wave of elastic energy...
The Production of Biodiesel from Human Faeces – A Constituent of Sewage Sludge using Chloroform and N Hexane
The Lipid oil was extracted from reduced dried primary sewage sludge particle using soxh let extraction method with the mixture of chloroform and n hexane in ratio 2 1 as the extracting solvent. The extracted oil was tra...