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Blockchain Technology

Student’s Name

Institutional Affiliation

Course Name and Number

Instructor’s Name

Assignment Due Date

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Blockchain Technology
Initial Post
The blockchain is an increasing list of records (blocks) interconnected using

cryptography.  Each single block consists of transaction data, a cryptographic hash of the

previous block and a timestamp. In recent years, the popularity of blockchain technology gets its

attribution to the blockchain-based decentralized applications (DApps), which have rapidly been

developed and broadly adopted in several fields (Wu et al., 2019). Despite the popularity of

DApps, there is still insufficient knowledge and to close the information gap, researchers are

continuing to look at a systematic analytical scrutiny of blockchain-based DApps.

Response 1

Question 3: Provide extensive additional information on the topic

How does the blockchain technology primarily operate?

Presently, the blockchain operate in three main ways. The first is the permission-less

blockchain (public blockchain), under which the ledger is fully distributed and accessible to

everyone, including users, miners, developers, and community representatives (Arif et al., 2020).

The second way is the private blockchain, a permissioned blockchain that only pre-selected

entities of a known organization can access. The relevant authorities choose these bodies. The

consortium blockchain platform is the third-way blockchain operates, and it combines features

with both public and private blockchains.

Response 2

Question 2: Answer a question (in detail) posted by another student or the instructor

Is blockchain a secure system?

The blockchain is sensitive to data modification by design. Once data has been recorded,

it is impossible to be changed retroactively without affecting all subsequent blocks. A blockchain

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is primarily managed as a distributed ledger by a peer-to-peer network that follows a protocol for

validating new blocks and inter-node communication ((Arif et al., 2020). Blockchain records

cannot get modified as they exist as a secured design and display a distributed computing system

with high Byzantine fault tolerance.

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References

Arif, S., Khan, M. A., Rehman, S. U., Kabir, M. A., & Imran, M. (2020). Investigating smart

home security: Is blockchain the answer?. IEEE Access, 8, 117802-117816.

https://doi.org/10.1109/ACCESS.2020.3004662

Wu, K., Ma, Y., Huang, G., & Liu, X. (2019). A first look at blockchain‐based decentralized

applications. Software: Practice and Experience. https://doi.org/10.1002/spe.2751