Artificial Intelligence in Industry 4.0 and 5G Technology

12A Concise Review on Recent Optimization and Deep Learning Applications in Blockchain Technology

Timothy Ganesan¹, Irraivan Elamvazuthi², Pandian Vasant³, and J. Joshua Thomas⁴

¹Member of American Mathematical Society, University of Calgary, Alberta, Canada

²Persiaran UTP, Seri Iskandar, Perak

³MERLIN Research Centre, TDTU, Ho Chi Minh City, Vietnam

⁴UOW Malaysia, KDU Penang University College, Malaysia

12.1 Background

In recent years, with the rise of cryptocurrency, blockchain technology has become increasingly dominant in the area of global finance and economics. The initial idea of blockchain was presented by a person(s) using the pseudonym Satoshi Nakamoto. Nakamoto provided the description of how the combination of cryptography and open distributed ledger could be applied to develop a reliable digital currency (today known as cryptocurrency) [1]. The central idea of a blockchain is a growing list of records (i.e. blocks) that are connected using cryptographic hashes. Blockchain technology is essentially a type of database that stores records. The data are collected and stored in groups and each group is called a “block.” As new data come in, a new block is created and linked to the previous block – creating a chain of blocks (blockchain). The individual blocks contain the cryptographic hash of the previous block, its associated timestamp, and the transaction information. Due to the cryptographic linking of the blocks, the blockchain is inherently resistant to tampering ...