18 Blockchain Technologies and Internet of Things (IoT)-based Blockchain Applications
Krishna Kanodia, Priyanka Kujur, and Sanjeev Patel
Introduction
Blockchain supports direct peer-to-peer transactions of digital assets, contrary to traditional methods. In the early stages, blockchain was created to promote the renowned digital currency Bitcoin. Nakamoto first suggested Bitcoin in 2008 (Nakamoto, 2008), and it was formally launched in 2009. Following that, the economic sector had tremendous development, reaching a total of 10 billion dollars in 2016. The term “blockchain” refers to a simple grouping of blocks, which utilize a public ledger to keep each committed transaction. Blockchain operates in a decentralized ...
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