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Smart city article details
| Title | Blockchain Technology And Emerging Communications Applications |
|---|---|
| ID_Doc | 12533 |
| Authors | Teeluck R.; Durjan S.; Bassoo V. |
| Year | 2021 |
| Published | Studies in Systems, Decision and Control, 308 |
| DOI | http://dx.doi.org/10.1007/978-3-030-53149-2_11 |
| Abstract | Blockchain is a distributed ledger technology (DLT) which facilitates peer-to-peer transaction, operating on a consensus mechanism. Each data entry is thoroughly verified and is calculated through a hash algorithm by all nodes in the networks to attain a consensus before being inserted in the corresponding block. It can be visualized as a chain of blocks holding permanent, reliable, authenticated, distributed and tamper-proof data. Often misled with the term Bitcoin, blockchain is the foundation on which crypto currencies are built. Having paved the way for crypto currencies which have boomed exponentially over the past years, the blockchain technology has way more to offer. From its creation in 2008 till recent days, this technology has evolved, introducing new possibilities such as smart contracts and smart property. Blockchain promises a massive disruption on how traditional transactions occur in diverse fields including financial technology (FinTech), Smart Cities, Internet of Things (IoT), healthcare, governance, global trade and the telecommunication sector including the upcoming 5G technology. In this chapter, we provide a clear overview on the principle behind blockchain technology followed by the state-of-the-art applications of blockchain in various sectors while laying emphasis on new emerging blockchain applications. © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021. |
| Author Keywords | 5G; Blockchain; Cryptocurrency; Distributed ledger technology; Governance; Healthcare; Internet of things; Logistics; Mining; Smart contracts |
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