Advanced Topics in Blockchains

Advanced Topics in Blockchains

DOI: 10.4018/978-1-5225-2193-8.ch003
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Distributed Public Ledger System: The Backbone

Many studies forecast blockchain as a disruptive force which can replace the legacy infrastructures for storage. Vital discussions are going on around the world regarding the potential of public ledger systems as a permanent solution for record keeping. The most striking feature of blockchain that fuels discussions across enthusiasts and technocrats is the “Built-in Asset” potential of the distributed ledger. Here, every pinch of data, right from the beginning (genesis block) is wrapped up securely and sequentially into the blockchain. Adding on to the authenticity, the recorded history in blockchain is mathematically verifiable at any instance of time. This leverages the immense scope of public ledgers as a safe and stable replacement for conventional storage mechanisms.

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