The Blockchain Technology: Applications and Threats

The Blockchain Technology: Applications and Threats

Ahmed Ben Ayed, Mohamed Amine Belhajji
Copyright: © 2017 |Pages: 11
DOI: 10.4018/IJHIoT.2017070101
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Abstract

This article describes how Blockchain is a technology that has a great potential to change the way business is done in the future, exactly like the internet did in the early nineties. Blockchain offers new opportunities to develop new types of digital services to overcome business problems, and improve business practices by making transaction information a public resource. While research on the topic is still emerging, it has mostly focused on crypto-currencies instead of taking advantage of this novel concept to create new advanced services. This article discusses blockchain and the technology behind it, some of its possible applications, as well as threats targeting the new poorly understood technology.
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Sructure Of The Blockchain

The Blockchain is an arranged back-linked list of blocks that contain transactions.

The Blockchain can be stored as a flat file, or in a regular database. Blocks are linked back, where each block refers to the previous block in the chain. The Blockchain is often visualized as a vertical pile of transactions, and the first block ever created serves as the foundation of the stack (Figure 1).

Figure 1.

Blockchain structure (Antonopoulos, 2014)

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