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Journal of IoT in Social, Mobile, Analytics, and Cloud

Big Data Analytics for Improved Risk Management and Customer Segregation in Banking Applications
Volume-3 | Issue-3

Design of Deep Learning Algorithm for IoT Application by Image based Recognition
Volume-3 | Issue-3

Analysis of Serverless Computing Techniques in Cloud Software Framework
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Health Record Management System – A Web-based Application
Volume-3 | Issue-4

A Novel Signal Processing Based Driver Drowsiness Detection System
Volume-3 | Issue-3

IoT Based Monitoring and Control System using Sensors
Volume-3 | Issue-2

Secure Data Sharing Platform for Portable Social Networks with Power Saving Operation
Volume-3 | Issue-3

Review of Internet of Wearable Things and Healthcare based Computational Devices
Volume-3 | Issue-3

Stock Index Prediction with Financial News Sentiments and Technical Indicators
Volume-4 | Issue-3

Hybrid Framework on Automatic Detection and Recognition of Traffic Display board Signs
Volume-3 | Issue-3

Suspicious Human Activity Detection System
Volume-2 | Issue-4

ROBOT ASSISTED SENSING, CONTROL AND MANUFACTURE IN AUTOMOBILE INDUSTRY
Volume-1 | Issue-3

EFFICIENT RESOURCE ALLOCATION AND QOS ENHANCEMENTS OF IOT WITH FOG NETWORK
Volume-1 | Issue-2

Live Streaming Architectures for Video Data - A Review
Volume-2 | Issue-4

IoT Based Monitoring and Control System using Sensors
Volume-3 | Issue-2

Big Data Analytics for Improved Risk Management and Customer Segregation in Banking Applications
Volume-3 | Issue-3

A Novel Signal Processing Based Driver Drowsiness Detection System
Volume-3 | Issue-3

IoT BASED AIR AND SOUND POLLUTION MONITIORING SYSTEM USING MACHINE LEARNING ALGORITHMS
Volume-2 | Issue-1

Analysis of Serverless Computing Techniques in Cloud Software Framework
Volume-3 | Issue-3

Hybrid Intrusion Detection System for Internet of Things (IoT)
Volume-2 | Issue-4

Home / Archives / Volume-2 / Issue-4 / Article-3

Volume - 2 | Issue - 4 | december 2020

Analysis of Recent Trend and Applications in Block Chain Technology
Pages: 200-206
Published
06 October, 2020
Abstract

Blockchain is a digital ledger in which each record known as blocks and that are combined in a single list known as a chain. It is regarded as Bitcoin's backbone technology. It is also regarded as cohesive collections of digital wallets. Blockchains are primarily used by cryptocurrencies such as Bitcoin and other applications to record these transactions. A blockchain is commonly referred to as a collection of distributed databases that consists of all public transactions, records and digital events then that information is shared among the participants. Every transaction is verified and it cannot be removed. The main features of this technology are reliable, efficient operation, fault tolerance and scalability. Some of the applications are manufacturing, government and finance when the three properties met together (i.e., Efficiency, Scalability and Security). By using several computers, each transaction that is applied to a blockchain is validated. A peer-to-peer network is developed by these systems that are used to validate these forms of blockchain transactions. They work together to ensure that any transaction is legitimate until it is added to the blockchain, and invalid blocks cannot be added to the chain by these systems. When a new block is added, it can be connected to a previous block using a cryptographic hash and the chain cannot be broken and each block is recorded permanently. Blockchain can be used for an exchanging the transaction securely without an intermediate. It enables customer relationship and agile chain values and thereby integrating with IoT and Cloud technology. The functionality of distributed ledger is combined with blockchain security to solve the financial and non-financial industry problems. This paper proposes the blockchain technology with devices and creates a common platform and secure data communication.

Keywords

Bitcoins Blockchain Technology Security Transactions Cryptography Cryptocurrency

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