Development of Blockchain Technology

AbstractBlockchain technology is the first successful Bitcoin Network. It enables the ledger to become more decentralized and secure. Since it is not limited to bitcoin and controlled by third parties by government, corporations, or banks, the technology is capturing several industries, including cr...

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Bibliographic Details
Published inJournal of advances in computer engineering and technology Vol. 6; no. 4; pp. 265 - 272
Main Authors behnam Kiani Kalejahi, Jala Guluzade, shabnam maharramli
Format Journal Article
LanguageEnglish
Published Science and Research Branch,Islamic Azad University 01.11.2020
Subjects
blockchain
consensus
future directions
privacy
transaction
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ISSN2423-4192
2423-4206

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Summary:AbstractBlockchain technology is the first successful Bitcoin Network. It enables the ledger to become more decentralized and secure. Since it is not limited to bitcoin and controlled by third parties by government, corporations, or banks, the technology is capturing several industries, including cryptocurrency, infrastructure& hardware, financial technology, Internet & mobile and so on. Blockchain is used as a public ledger to verify all peer-to-peer system transactions and maintain traded bitcoin spending from central authorities while bitcoin has distributed transactions. Achieving high Blockchain-based performance and privacy & security are global issues that are desire to be overcome as claims show they are still significant challenges in many Blockchain applications. This paper presents an introduction to Blockchain and the process of this technology in the way of outlining Blockchain types. Also, recent advances, challenges, real economy integration, and current situations of this technology have been listed. Key Words: Blockchain, transaction, nodes, privacy, scalability, consensus, future directions
ISSN:2423-4192
2423-4206