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2024 | OriginalPaper | Buchkapitel

Blockchain of Cryptocurrency Using a Proof-of-Work-Based Consensus Algorithm with an SHA-256 Hash Algorithm to Make Secure Payments

verfasst von : G. Bindu, H. M. Moyeenudin, R. Anandan

Erschienen in: Integrating Blockchain and Artificial Intelligence for Industry 4.0 Innovations

Verlag: Springer International Publishing

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Abstract

A blockchain is a distributed database featuring a decentralized digital network. A blockchain contains a set of data that can store information in blocks on an electronic platform in an advanced setup that uses a systematic framework via the Internet. Blockchains are popular because of their roles in cryptocurrency networks—such as Bitcoin—which must have a secure payment system. This method of transaction is perceived as an imaginative technique for online payments because it enables productive, straightforward, and secure exchanges. The blockchain of Bitcoin turned innovation into success by building a peer-to-peer monetary transaction network for secure transactions—a network that connects global financial markets with a circulated framework without any weak links.

The purpose of this research is to provide the best hybrid algorithm for cryptocurrency so that secure payments can be made. For example, because booking a hotel room reservation becomes complex when that hotel is located in other country. Currency exchanges and funds transfers have become expensive because of high exchange rates, so using cryptocurrency to make hotel room reservations is a cheaper option.

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Vorheriges Kapitel Blockchain Networks for Cybersecurity Using Machine-Learning Algorithms

Nächstes Kapitel An Efficient Security-Enabled Routing Protocol for Data Transmission in VANET Using Blockchain Ripple Protocol Consensus Algorithm

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Titel: Blockchain of Cryptocurrency Using a Proof-of-Work-Based Consensus Algorithm with an SHA-256 Hash Algorithm to Make Secure Payments
verfasst von: G. Bindu
H. M. Moyeenudin
R. Anandan
Verlag: Springer International Publishing
Buch: Integrating Blockchain and Artificial Intelligence for Industry 4.0 Innovations
Print ISBN: 978-3-031-35750-3

Electronic ISBN: 978-3-031-35751-0

Copyright-Jahr: 2024
DOI: https://doi.org/10.1007/978-3-031-35751-0_17

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