Key Concepts and Principles of Blockchain Technology

• URL: http://arxiv.org/abs/2501.11707v1
• Date: Mon, 20 Jan 2025 19:40:34 GMT
• Title: Key Concepts and Principles of Blockchain Technology
• Authors: Mohsen Ghorbian, Mostafa Ghobaei-Arani,
• Abstract summary: blockchain technology has been recognized as a transformative innovation in the tech world. It has quickly become the core infrastructure of digital currencies such as Bitcoin. This book examines blockchain's advantages, disadvantages, and applications in various industries.
• Score: 6.03891813540831
• License:
• Abstract: In recent years, blockchain technology has been recognized as a transformative innovation in the tech world, and it has quickly become the core infrastructure of digital currencies such as Bitcoin and an important tool in various industries. This technology facilitates the recording and tracking of transactions across a vast network of computers by providing a distributed and decentralized ledger. Blockchain's decentralized structure significantly enhances security and transparency and prevents a single entity from dominating the network. This chapter examines blockchain's advantages, disadvantages, and applications in various industries and analyzes the implementation environments and reasons for using this technology. Also, this chapter discusses challenges such as scalability and high energy consumption that inhibit the expansion of this technology and examines blockchain technology's role in increasing efficiency and security in economic and social interactions. Finally, a comprehensive conclusion of blockchain applications and challenges has been presented by comparing blockchain applications in various industries and analyzing future trends.

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