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Description of  Blockchain Technology: From Theory to Practice (Studies in Autonomic, Data-driven and Industrial Computing)

Blockchain is an emerging technology platform for developing decentralized applications and data storage, over and beyond its role as the technology underlying the cryptocurrencies. The basic tenet of this platform is that it allows one to create a distributed and replicated ledger of events, transactions, and data generated through various IT processes with strong cryptographic guarantees of tamper resistance, immutability, and verifiability. Public blockchain platforms allow us to guarantee these properties with overwhelming probabilities even when untrusted users are participants of distributed applications with the ability to transact on the platform. Even though, blockchain technology has become popularly known because of its use in the implementation of cryptocurrencies such as BitCoin, Ethereum, etc. the technology itself holds much more promise in various areas such as time stamping, logging of critical events in a system, recording of transactions, trustworthy e-governance, etc. Read more