November 10, 2019
Computer Science & Information Systems
Blockchain technology is considered as one of the most popular catchphrases in recent times. One of its successful applications is Bitcoin, a digital crypto currency. Typically, Blockchain is a publicly verifiable, shared, immutable ledger for recording the history of transactions, where a block is a data structure that contains a set of transactions, a hash of the previous block, timestamp, and so on. The information that is recorded in the blockchain cannot be tampered with unnoticed, which makes the blockchain a trusted ledger, relying on different consensus protocols (e.g. proof-of-work, proof-of-stake, proof-of-space).
The blockchain technology has shown huge potential in financial applications. It is expected in near future that the blockchain technology along with cryptographic primitives can reshape e-governance, healthcare, Smart IOT applications with respect to security, privacy, efficiency, transparency and fault-resistances.