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Blockchain - Secure Decentralized Technology

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Blockchain - Secure Decentralized Technology

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Abstract

Blockchain now becomes the most secure transaction management process. Starting with the introduction paper describe functioning and types of blockchain. The detailed description of smart contracts and to write a code in the smart contract the main language is also discussed. It is basically the contract between the devices and the language used to build this contract is also discussed. A comparison between the previous tradition and the latest smart contract is also focused. Paper describes the domains where we implement blockchain for security purposes as blockchain follows the concept of decentralization. Various platforms are discussed and the comparison between them. Finally,the paper discusses the challenges in the blockchain. At last, we conclude that now blockchain is covering many domains and blockchain is important where the transaction between the things happen to make it more secure.

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... Most digital currencies used this type (Lu et al., 2019). For example Bitcoin (Ratta, Kaur and Sharma, 2020), Ethereum (Ranade and Shaikh, 2020). Open Blockchain means that anyone can enter or leave the network at any time (Ratta, Kaur and Sharma, 2020). ...
... For example Bitcoin (Ratta, Kaur and Sharma, 2020), Ethereum (Ranade and Shaikh, 2020). Open Blockchain means that anyone can enter or leave the network at any time (Ratta, Kaur and Sharma, 2020). The advantages of this type of Blockchain are auditability, transparency (Lu et al., 2019), and immutability (Ratta, Kaur and Sharma, 2020). ...
... Open Blockchain means that anyone can enter or leave the network at any time (Ratta, Kaur and Sharma, 2020). The advantages of this type of Blockchain are auditability, transparency (Lu et al., 2019), and immutability (Ratta, Kaur and Sharma, 2020). In contrast, the disadvantages of this type are slow speed (Ratta, Kaur and Sharma, 2020), and less flexibility (Lu et al., 2019). ...
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... It confirms the security of drugs and recipes by using modern authentic digital devices. This consequences a reduction in counterfeit drugs on the market with high trust and quality of health care for the population (Ratta et al. 2020) The blockchain has emerged as innovative technology and gained remarkable attention, with various applications, ranging from financial services, data management, food science and IoT to biomedical research (Deshpande et al. 2017a;Qin 2017). Thus, there has been a significant attentiveness in utilizing blockchain technology in the next-generation passive optical network for transparent, high speed, less costly, energy-efficient and secure networks. ...
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Chapter
Full-text available
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Since the start of Bitcoin in 2008[1], blockchain technology emerged as the next revolutionary technology. Though blockchain started off as a core technology of Bitcoin, its use cases are expanding to many other areas including finances, Internet of Things (IoT), security and such[2]. Currently, many private and public sectors are diving into the technology[3]. Aside from that, as software and hardware improve, we would see the beginning of IoT. And those IoT devices need to communicate and synchronize with each other. But in situations where more than thousands or tens of thousands of IoT devices connected, we expect that using current model of server-client may have some limitations and issues while in synchronization. So, we propose using blockchain to build IoT system. Using blockchain, we can control and configure IoT devices. We manage keys using RSA public key cryptosystems where public keys are stored in Ethereum and private keys are saved on individual devices. Specifically, we choose Ethereum as our blockchain platform because using its smart contract, we can write our own Turing-complete code to run on top of Ethereum. Thus, we can easily manage configuration of IoT devices and build key management system. Even though we can simply use account as a key management system, which most of blockchain platform supports, we decide to use Ethereum because we can manage the system in a more fine-grained way. For the proof of a concept, we use a few IoT devices instead of a full system of IoT system, which consists of thousands of IoT devices. But in our later study, we would like to build a fully scaled IoT system using blockchain.
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