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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (IJNRD)
An International Open Access Journal |   ISSN: 2456-4184 |  IMPACT FACTOR: 5.57

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Paper Title: Blockchain
Authors Name: Usmani Mohammed Osama , Ansari Mohammed Sajjad , Shaikh Aftab , Khan Abrar , Shaikh Yaseen
Author Reg. ID:
IJNRD_180174
Published Paper Id: IJNRD1810006
Published In: Volume 3 Issue 10, October-2018
Abstract: Blockchain, the foundation of Bitcoin, has received extensive attentions recently. Blockchain serves as an immutable ledger which allows transactions take place in a decentralized manner.We also lay out possible future trends for blockchain. Digital world has produced efficiencies, new innovative products, and close customer relationships globally by the effective use of mobile, IoT (Internet of Things), social media, analytics and cloud technology to generate models for better decisions. Blockchain is recently introduced and revolutionizing the digital world bringing a new perspective to security, resiliency and efficiency of systems. While initially popularized by Bitcoin, Blockchain is much more than a foundation for crypto currency. It offers a secure way to exchange any kind of good, service, or transaction. Industrial growth increasingly depends on trusted partnerships; but increasing regulation, cybercrime and fraud are inhibiting expansion. To address these challenges, Blockchain will enable more agile value chains, faster product innovations, closer customer relationships, and quicker integration with the IoT and cloud technology. Further Blockchain provides a lower cost of trade with a trusted contract monitored without intervention from third parties who may not add direct value. It facilitates smart contracts, engagements, and agreements with inherent, robust cyber security features. This paper is an effort to break the ground for presenting and demonstrating the use of Blockchain technology in multiple industrial applications. A healthcare industry application, Healthchain, is formalized and developed on the foundation of Blockchain using IBM Blockchain initiative. The concepts are transferable to a wide range of industries as finance, government and manufacturing where security, scalability and efficiency must meet. Blockchain, the foundation of Bitcoin, has received extensive attentions recently. Blockchain serves as an immutable ledger which allows transactions take place in a decentralized manner. Blockchain-based applications are springing up, covering numerous fields including financial services, reputation system and Internet of Things (IoT), and so on. However, there are still many challenges of blockchain technology such as scalability and security problems waiting to be overcome. This paper presents a comprehensive overview on blockchain technology. We provide an overview of blockchain architechture firstly and compare some typical consensus algorithms used in different blockchains.
Keywords: Blockchain,cryptocurrencies, cryptocurrency transactions, cryptocurrency transactions,Bitcoin,1.Public Blockchain Private 2.Blockchain 3.Consortium or Federated Blockchain.
Cite Article: "Blockchain", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.3, Issue 10, page no.16-21, October-2018, Available :http://www.ijnrd.org/papers/IJNRD1810006.pdf
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