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2021 | OriginalPaper | Chapter

Understanding the Blockchain Technology Beyond Bitcoin

Authors : Javeriya Shah, Suraiya Parveen

Published in: Advances in Industrial and Production Engineering

Publisher: Springer Singapore

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Abstract

A blockchain is a decentralized distributed public and digital ledger consisting of blocks that record transactions across many systems, ensuring security as these blocks cannot be altered retroactively. This technology enables individuals and companies to participate with trust and transparency. A well-known application of blockchain is the cryptographic currencies Bitcoin, an emerging technology like Ethereum and many more applications are possible. Blockchain, with great potential, allows us to create, value, trust, truthfully by clever use of distributed ledger, cryptography, and computation. It emphasizes the potential of a decentralized world, where users of technology can be empowered without being bound by a third-party power broker and many other benefits this technology presents to us. Blockchain technology is the driving force behind the next basic change in information technology. Many uses of blockchain technology are widely available today, each with the potential of a specific application domain. A blockchain is a diary that is almost impossible to forge. Blockchain technology is an interesting and a safe alternative for people, using this does not demand you to have a technical background, it will somehow have a positive effect on citizens. It will prove to be a better financial system and excites us to make blockchain more mainstream. Here, we have provided a brief survey on blockchain technology and how it is establishing itself to make an impact on the future of technology.
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Metadata
Title
Understanding the Blockchain Technology Beyond Bitcoin
Authors
Javeriya Shah
Suraiya Parveen
Copyright Year
2021
Publisher
Springer Singapore
DOI
https://doi.org/10.1007/978-981-33-4320-7_45

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