Blockchain is considered to be an emerging technology and was introduced through bitcoin. Blockchain can be described as
a distributed ledger technology capable of recording safe and continuous transactions between parties. Attempts have been made to adapt
the technology to other fields of implementation, outside finance, so that the interesting characteristics of blockchain could benefit other
sectors and use cases. Blockchain is now regarded as a general-purpose technology that has discovered applications in various sectors
and applications, such as identity management, conflict resolution, contract management, supply chain management, insurance and
healthcare, to name a few. This paper presents an overview of blockchain technology and its application areas.
Published In:IJCAT Journal Volume 7, Issue 3
Date of Publication : March 2020
Pages : 12-19
Figures :07
Tables :--
Afolashade Kuyoro :
Computer Science Department
Babcock University, Ilishan-Remo, Ogun State, Nigeria.
Deborah Aleburu :
Computer Science Department
Babcock University, Ilishan-Remo, Ogun State, Nigeria.
Olujimi Alao :
Computer Science Department
Babcock University, Ilishan-Remo, Ogun State, Nigeria.
Akinniyi Akingbile :
Information Technology Development Services Department
Babcock University, Ilishan-Remo, Ogun State, Nigeria.
Blockchain, Immutability, Transparency, Integrity
Through its key characteristics such as decentralization,
immutability, persistence and auditability, blockchain
technology has shown that it has the potential of transforming various industrial sectors. This paper
presented an overview of blockchain technology, its
characteristics and areas of applications. In the first
section, an introduction to the paper was presented,
background of blockchain was briefly discussed in
section two, section three discussed the method of
chaining the blocks together in blockchain technology.
The key characteristics and categories of blockchain was
presented in section four and five respectively. Finally,
the areas in which blockchain has been/can be applied
was presented in section six while conclusion is
presented in section seven.
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