Blockchain Technology

11 Application and Challenges of “Blockchain Technology” in the Oil and Gas Industry

Adarsh Kumar Arya

DOI: 10.1201/9781003138082-11

Contents

11.1 Introduction

11.2 Blockchain Technology Fundamentals

11.2.1 Blockchain Philosophy

11.2.2 Blockchain Key Attributes

11.2.3 Blockchain Infrastructure

11.2.4 Consensus Algorithm

11.2.4.1 Proof of Work (PoW)

11.2.4.2 Proof of Stake (PoS)

11.2.4.3 Delegated Proof of Stake (DPoS)

11.2.4.4 Practical Byzantine Fault Tolerance (PBFT)

11.2.4.5 Proof of Elapsed Time (PoET)

11.2.4.6 Tendermint

11.2.4.7 Cryptography

11.2.4.8 Model Data Record

11.3 Blockchain Applications in the Petroleum and Gas Sector

11.3.1 Trade

11.3.1.1 Smart/Intelligent Contract

11.3.1.2 Transaction

11.3.1.3 Management Decisions

11.3.1.4 ...