Volume- 9
Issue- 6
Year- 2021
DOI: 10.55524/ijircst.2021.9.6.29 | DOI URL: https://doi.org/10.55524/ijircst.2021.9.6.29
This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)
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Mrinal Paliwal , Pankaj Saraswat
Blockchain is a decentralized technology. When it comes to resolving business issues, it wields considerable power. Every transaction on the blockchain is encrypted, and each transaction is linked to a previous transaction or record. Blockchain transactions are validated by algorithms running on nodes. A single entity cannot start a transaction. Eventually, blockchain provides transparency by allowing any participant to view transactions at any moment. Smart contracts provide secure transactions, minimizing the risk of third-party interruptions. Ethereum is a decentralized platform based on smart contracts. It enables developers to create markets that transfer money according to the instructions given years ago. Blockchain is distinguished by two key characteristics: immutability and decentralization. Deals are completed faster; Transactions and authentication are completed in a matter of seconds, and much more.
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Sanskriti University, Mathura, Uttar Pradesh, India (mrinalpaliwal.cse@sanskriti.edu.in)
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