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  • Blockchain in E-Business

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    Ethan Monkhouse
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    Blockchain is a growing list of records called blocks that are linked using cryptography. Each block contains a cryptographic hash of the previous block, linking them together in a way that makes modification very difficult. It is a distributed ledger that allows for a secure, shared record of transactions that can only be updated if all parties agree. Technically, blockchain is a peer-to-peer distributed ledger that is cryptographically secure, append-only, and immutable, only able to be updated via consensus or agreement among peers. It can be used for applications like tracking supply chain transactions.

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    Blockchain in e-Business

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    Blockchain is a growing list of records called blocks that are linked using cryptography. Each block contains a cryptographic hash of the previous block, linking them together in a way that makes modification very difficult. It is a distributed ledger that allows for a secure, shared record of transactions that can only be updated if all parties agree. Technically, blockchain is a peer-to-peer distributed ledger that is cryptographically secure, append-only, and immutable, only able to be updated via consensus or agreement among peers. It can be used for applications like tracking supply chain transactions.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    27 views1 page

    Blockchain in E-Business

    Uploaded by

    Ethan Monkhouse
    Blockchain is a growing list of records called blocks that are linked using cryptography. Each block contains a cryptographic hash of the previous block, linking them together in a way that makes modification very difficult. It is a distributed ledger that allows for a secure, shared record of transactions that can only be updated if all parties agree. Technically, blockchain is a peer-to-peer distributed ledger that is cryptographically secure, append-only, and immutable, only able to be updated via consensus or agreement among peers. It can be used for applications like tracking supply chain transactions.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Basics

    of blockchain
    list
    growing of records
    eachblock contains a cryptographic hash
    resistant to modification
    distributed ledger of its data
    secure shored record
    Layman's definition Blockchain is an ever
    growing keepingsystem in
    whicheach user theofdata holds a
    copy the
    ofrecords which can
    beupdated all parties involved in a transaction to update
    only if agree
    Technicaldefinition Blockchain is a peer to peer distributed ledgesthat is cryptographically
    secure appendonly immutable ableonly via
    andupdate consensus or
    agreement
    amongpeers
    Public blockchain Private blockchain's Semiprivate blockchain sidechains
    Transactions 1 Sender creates a transaction
    2 Bitcoin wallet address validates thetransaction
    3 Transaction sentto mempool
    4 Miners transactionandstart
    get miningtheblock usinga consensus algorithm
    5 After the blockisfullymined it is added tothe network
    6 The chainvalidates the newblockand
    everypeer in the
    network will getthe
    withthe new blockadded
    blockchain

    Finally the
    7 Receiver
    getyourBTC's
    Smart contract automatically executable enforceable secure deterministic semanticallysound
    unstoppable

    Blockchain in Supply Chain Totracetheorigins diamonds to ensure they were ethically


    mined example of

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