IEEE Consumer Electronics Magazine - July 2018 - 6
By Deepak Puthal, Nisha Malik, Saraju P. Mohanty,
Elias Kougianos, and Gautam Das
I
n 2008, the emergence of the blockchain as the
foundation of the first-ever decentralized cryptocurrency
not only revolutionized the financial industry but proved
a boon for peer-to-peer (P2P) information exchange in
the most secure, efficient, and transparent manner. The
blockchain is a public ledger that works like a log by keeping a record of all transactions in chronological order,
secured by an appropriate consensus mechanism and provid-
ing an immutable record. Its exceptional characteristics include
immutability, irreversibility, decentralization, persistence,
and anonymity.
With these advantages, it has found applications in almost
all fields requiring data sharing among multiple parties that
also demand secure authentication, anonymity, and permanence. Some of its applications have been in finance, real
estate, and the Internet of Things (IoT). Despite having numerous
Everything You
Wanted to Know About
the Blockchain
Its promise, components,
processes, and problems.
Digital Object Identifier 10.1109/MCE.2018.2816299
Date of publication: 13 June 2018
©iStockphoto.com/klamb_S
6 IEEE ConsumEr ElECtronICs magazInE
^
july 2018
2162-2248/18©2018IEEE
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Table of Contents for the Digital Edition of IEEE Consumer Electronics Magazine - July 2018
Contents
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