An Overview on Blockchain
Journal Title: International Journal of Innovative Research in Computer Science and Technology - Year 2021, Vol 9, Issue 6
Abstract
Blockchain is a decentralized technology. When it comes to resolving business issues, it wields considerable power. Every transaction on the blockchain is encrypted, and each transaction is linked to a previous transaction or record. Blockchain transactions are validated by algorithms running on nodes. A single entity cannot start a transaction. Eventually, blockchain provides transparency by allowing any participant to view transactions at any moment. Smart contracts provide secure transactions, minimizing the risk of third-party interruptions. Ethereum is a decentralized platform based on smart contracts. It enables developers to create markets that transfer money according to the instructions given years ago. Blockchain is distinguished by two key characteristics: immutability and decentralization. Deals are completed faster; Transactions and authentication are completed in a matter of seconds, and much more.
Authors and Affiliations
Mrinal Paliwal, Pankaj Saraswat
Keywords
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- EP ID EP747107
- DOI 10.55524/ijircst.2021.9.6.29
- Views 45
- Downloads 0
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