Annals of Emerging Technologies in Computing (AETiC)

 
Paper #1                                                                             

Applications of Blockchain Technology beyond Cryptocurrency

Mahdi H. Miraz and Maaruf Ali


Abstract: Blockchain (BC), the technology behind the Bitcoin crypto-currency system, is considered to be both alluring and critical for ensuring enhanced security and (in some implementations, non-traceable) privacy for diverse applications in many other domains - including in the Internet of Things (IoT) eco-system. Intensive research is currently being conducted in both academia and industry applying the Blockchain technology in multifarious applications. Proof-of-Work (PoW), a cryptographic puzzle, plays a vital rôle in ensuring BC security by maintaining a digital ledger of transactions, which is considered to be incorruptible. Furthermore, BC uses a changeable Public Key (PK) to record the users’ identity, which provides an extra layer of privacy. Not only in cryptocurrency has the successful adoption of BC been implemented but also in multifaceted non-monetary systems such as in: distributed storage systems, proof-of-location, healthcare, decentralized voting and so forth. Recent research articles and projects/applications were surveyed to assess the implementation of BC for enhanced security, to identify associated challenges and to propose solutions for BC enabled enhanced security systems.


Keywords: Blockchain (BC); Bitcoin; Crypto-currency; IoT; Proof of Work (PoW); Distributed Digital Ledger.


 
Full Text

This work is licensed under a Creative Commons Attribution 4.0 International License. Creative Commons License


This browser does not support PDFs. Please download the PDF to view it: Download PDF.

 
 International Association for Educators and Researchers (IAER), registered in England and Wales - Reg #OC418009                         Copyright © IAER 2017