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CBCT: CryptoCurrency Based Blockchain Technology

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Data Science and Analytics (REDSET 2019)

Part of the book series: Communications in Computer and Information Science ((CCIS,volume 1230))

Abstract

With the continuous development in technology, the interest in Blockchain Technology has been increasing since 2008. It is a data management technology which is decentralized and mainly it is being used for Bitcoin cryptocurrency. Blockchain technology is having certain attributes like security, integrity and data preservation without the intervention of third party and in resultant; it provides its usage in various applications. Blockchain is an emerging technology in this era. Blockchain has gained prominence due to its highly secured features. Blockchain, as the name suggests, is a chain of blocks. Blockchain technology is made secured by incorporating the features of cryptographic hash. Each block maintains a hash value. Further, this hash value also depends on all the previous blocks. All the blocks are connected like a linked list. A single block contains a cryptographic hash of previous blocks, a timestamp and transaction data. A block is represented as a merkle tree root hash. All the blocks follow the same structure, only the data varies. The major application of blockchain due to which it has gained popularity is Bitcoin. Here, in the proposed research work, we would like to discuss various applications of Blockchain Technology like finance, academics, medical sciences, Intellectual Property Rights and how it is impacting the lives of people in day-to-day life. This paper focuses on the application of blockchain. Along with it, a comparative statistical literature review has been presented..

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Acknowledgement

The Author express their acknowledgement to the contribution made by Ms Samriddhi Seth towards the timely completion of this research paper.

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Authors and Affiliations

  1. SWINGER (Security, Wireless IoT Network Group of Engineering and Research) Lab, USIC&T, GGSIP University, Sector-16C, Dwarka, Delhi, India

    Rahul Johari & Vivek Kumar

  2. ABES Engineering College, Campus 1, 19th KM Stone, NH 24, Ghaziabad, Uttar Pradesh, India

    Kanika Gupta & Saurabh Kumar Jha

Authors
  1. Rahul Johari
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  2. Kanika Gupta
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  3. Saurabh Kumar Jha
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  4. Vivek Kumar
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Corresponding authors

Correspondence to Rahul Johari , Kanika Gupta , Saurabh Kumar Jha or Vivek Kumar .

Editor information

Editors and Affiliations

  1. GD Goenka University, Gurugram, India

    Usha Batra

  2. GD Goenka University, Sohna, Haryana, India

    Nihar Ranjan Roy

  3. University of Arkansas, Fayetteville, AR, USA

    Brajendra Panda

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Johari, R., Gupta, K., Jha, S.K., Kumar, V. (2020). CBCT: CryptoCurrency Based Blockchain Technology. In: Batra, U., Roy, N., Panda, B. (eds) Data Science and Analytics. REDSET 2019. Communications in Computer and Information Science, vol 1230. Springer, Singapore. https://doi.org/10.1007/978-981-15-5830-6_8

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  • DOI: https://doi.org/10.1007/978-981-15-5830-6_8

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-15-5829-0

  • Online ISBN: 978-981-15-5830-6

  • eBook Packages: Computer ScienceComputer Science (R0)

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