UGC Approved Journal no 63975

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 8 Issue 7
July-2021
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR2107673


Registration ID:
313271

Page Number

f342-f349

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Title

Blockchain Technology:Applications and Future Trends

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Abstract

Blockchain is a constantly growing ledger that keeps a permanent record of all the transactions that have taken place in a secure, chronological, and immutable way. It can be used for the secure transfer of money, property, contracts, etc. without requiring a third-party intermediary such as bank or government. Blockchain is a software protocol, but it could not be run without the Internet. It is a decentralized distributed database of immutable records, where transactions are protected by strong cryptographic algorithmsA blockchain is a database that stores encrypted blocks of data then chains them together to form a chronological single-source-of-truth for the data. Digital assets are distributed instead of copied or transferred, creating an immutable record of an asset.The asset is decentralized, allowing full real-time access and transparency to the public. A transparent ledger of changes preserves integrity of the document, which creates trust in the asset. Blockchain’s inherent security measures and public ledger make it a prime technology for almost every single sector. Blockchain is an especially promising and revolutionary technology because it helps reduce risk, stamps out fraud and brings transparency in a scaleable way for myriad uses. Blockchain has numerous benefits such as decentralisation, persistency, anonymity and auditability. Originally conceived as the basis of cryptocurrencies, aspects of blockchain technology have far-reaching potential in many other areas. There is a wide spectrum of blockchain applications ranging from cryptocurrency, financial services, risk management, internet of things (IoT) to public and social services. This paper presents an overview of blockchain technology ,it’s architecture,applications ,challenges as well as recent trends in tackling the challenges.

Key Words

Blockchain, Bitcoin, Nodes, Blocks, Transacions, Cryptocurrency

Cite This Article

"Blockchain Technology:Applications and Future Trends", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 7, page no.f342-f349, July-2021, Available :http://www.jetir.org/papers/JETIR2107673.pdf

ISSN


2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"Blockchain Technology:Applications and Future Trends", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 7, page no. ppf342-f349, July-2021, Available at : http://www.jetir.org/papers/JETIR2107673.pdf

Publication Details

Published Paper ID: JETIR2107673
Registration ID: 313271
Published In: Volume 8 | Issue 7 | Year July-2021
DOI (Digital Object Identifier):
Page No: f342-f349
Country: Palakkad, Kerala, India .
Area: Science & Technology
ISSN Number: 2349-5162


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