BLOCKCHAIN CHARACTERISTICS AND SMART CONTRACT: A REVIEW
Volume: 13 - Issue: 03 - Date: 01-03-2024
Approved ISSN: 2278-1412
Published Id: IJAECESTU368 | Page No.: 23-28
Author: Juan Mark
Co- Author:
Abstract:-Blockchain is making its space in almost all sorts
of industries. Moreover, there will be a massive demand for industrial 4.0 growth across all over the world markets. The
Blockchain as a platform, Using it, there is a possibility to replicate and
distribute a digital ledger over an entire computer network. All transactions
or updates on the blockchain are visible to every participant. Distributed
Ledger Technology is the name of this database (DLT). Cryptographic signatures,
such as hashes, are used to record transactions on the Blockchain. Because it
is immutable, it offers excellent levels of data protection. If one of the
blocks in the chain is changed, it's immediately evident that something has
gone wrong. To hack into the system, hackers would have to modify every block
in the chain across all distributed copies. In the future, a huge usage and
scope of blockchain technology. Like in financial technology, new technologies
make more efficient financial services. Banking, insurance, trading and
investments, crowdfunding, Internet of Things, Manufacturing industry such as
on-demand manufacturing, smart diagnosis and maintenance, product
certifications, Record maintenance of assets and inventory, Supply Chain
Management, Healthcare, Governance and Management Education and Energy Sector
many more.
Key Words:-Blockchain characteristic, DApps, Smart contract, Ethereum, Blockchain applications
Area:-Engineering
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