Chapter Nine: Architecture of blockchain☆
Shubhani Aggarwal; Neeraj Kumar Thapar Institute of Engineering & Technology, Patiala, Punjab, India
Abstract
A blockchain technology allows untrusting parties with common interests to cocreate a permanent, unchangeable, and transparent record of exchange and processing without relying on a central authority. It serves as an immutable ledger that allows transactions to take place in a decentralized manner and secured by cryptographic primitives. Its exceptional characteristics include irreversibility, decentralization, persistence, and anonymity. With these advantages, it has found applications in almost all fields requiring data sharing among multiple parties but with secure authentication, ...