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Blockchain : A Revolutionary Technology

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Blockchain : A Revolutionary Technology


Rajshree Srivastava | Shubham Kumar | Animesh Singh | Harshit Mohan Saraswat

https://doi.org/10.31142/ijtsrd12751



Rajshree Srivastava | Shubham Kumar | Animesh Singh | Harshit Mohan Saraswat "Blockchain : A Revolutionary Technology" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-3, April 2018, pp.2368-2373, URL: https://www.ijtsrd.com/papers/ijtsrd12751.pdf

A Blockchain is defined as a distributed database which consists of records, or public ledgers of all the transactions or digital events executed and shared among participating network. In this each transaction in the public ledger is verified by consensus of a majority of the participants in the network. As soon as the information is entered, it can never be erased. The Blockchain contains a verifiable record of every single transaction ever made. [9]It was developed firstly for Bitcoin as a peer-to-peer digital currency or popularly called as ‘cryptocurrency’. The idea for Blockchain was coined in 2008. Since then the interest in Blockchain technology has been increasing. The reason for this increase in interest in Blockchain is its central attributes which provide security and data integrity without any third party organization in control of the transactions. Therefore it creates interesting and vast research areas, especially from the perspective of technical challenges, expectations and limitations. It was found wide range of applications in both financial and non-financial market. In this paper, we have conducted a procedural and organized mapping study with the goal of collecting all relevant information about the evolution of Blockchain technology since 2008. Our objective here is to understand the enhancement, challenges and future expectations regarding Blockchain technology from the technical perspective. The focus is on working of Blockchain Technology including the revolutionary rise of Blockchain Technogy generation 1.0, 2.0, 3.0. This paper describes Blockchain technology and some of its compelling specific applications in both financial and non- financial sector. We then look at the challenges abroad and business opportunities in this fundamental technology that is all set to revolutionize our digital world.

blockchain, cryptocurrency


IJTSRD12751
Volume-2 | Issue-3, April 2018
2368-2373
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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