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Stream/Area:
-
Subject:
-
Paper ID:
10.55041/IJSREM18868
Volume:
7 |
4 |
Apr 2023
Pages:
Publication Frequency:
Monthly (12 issues per year)
License:International Journal of Scientific Research in Engineering and Management follows the Creative Commons Attribution 4.0 (CC BY 4.0) License, allowing free use and distribution with proper attribution.
What is blockchain technology?since its invention in 2008. The first decentralized by Satoshi Nakamoto. He improved the overall design using a Hashcash like method. The design was implemented as a core component of the cryptocurrency bitcoin where its serves as the public ledger for all transaction on the entire network. It is a digital ledger technology that allows for secure and transparent record-keeping of transactions.In a blockchain, every participant has a copy of the ledger, and all transactions are verified and recorded in a decentralized and transparent manner. The security of the blockchain comes from the fact that once a block is added to the chain, it cannot be altered or deleted without the consensus of the network.Besides its original use case in digital currencies, blockchain technology has been applied to various industries, such as supply chain management, healthcare, real estate, and voting systems. Its potential benefits include increased security, transparency, efficiency, and decentralization. One of the key benefits of using blockchain technology in voting is the ability to create a transparent and decentralized system. This means that anyone can verify the accuracy of the results, and there is no need for a centralized authority to oversee the process. The blockchain acts as a distributed ledger, with each node on the network holding a copy of the transaction history.
KEYWORDS
Publication Date
11/3/2023
Peer Review Type
Double-Blind Peer Review
Review Rounds: 2
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The authors declare no conflict of interest related to this research work.
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