Decentralized Computing Using Blockchain Technologies and Smart Contracts

Abstract

Recent innovations have created signifi cant developments in data storage and management. These new technologies now allow for greater security in databases and other applications. Decentralized Computing Using Blockchain Technologies and Smart Contracts: Emerging Research and Opportunities is a concise and informative source of academic research on the latest developments in Blockchain innovation and their application in contractual agreements. Highlighting pivotal discussions on topics such as cryptography, programming techniques, and decentralized computing, this book is an ideal publication for researchers, academics, professionals, students, and practitioners seeking content on utilizing Blockchains with smart contracts.

Military Intelligence Applications for Blockchain Technology

“…Blockchain technology, the framework behind the cryptocurrency boom, offers a mechanism for securely storing and adding to a body of collective knowledge in a distributed manner. Although there are variations, most blockchain implementations operate as follows, summarized and adapted from references [1], [7], [8], and [9]: Time-stamped and chronologically ordered transactions are grouped into units called blocks. The first entry in the next block in the chain will be its predecessor's cryptographic hash value, thus linking the series of blocks into a chain.…”

“…Also picking away at the black box of algorithmbased processes, the innovative concept of smart contracting, which hinges on blockchain technology, has the potential to implement policy meaningfully into intelligence processes [7]. Meaningful in that we verify compliance with set policy without the need for an independent team of trusted lawyer-engineers capable of policing complex and evolving systems.…”

B-DEC: Digital Evidence Cabinet based on Blockchain for Evidence Management

“…Smart Contracts are self-executing programs which run on the blockchain and are capable of enforcing rules, consequences and computation over every transaction happening in the blockchain [12]. Smart Contracts can run on the blockchain as a side chain.…”

Application of Blockchain in Booking and Registration Systems of Securities Exchanges

“…Thus, each node has its own copy of the valid and updated BC. Because the BC database is thus replicated among the participating nodes over a distributed network, analogous to the Internet, it is considered to be the World Wide Ledger [9].…”

“…As shown in figure 3, a block contains version number (4 bytes), hash of the previous block (256 bytes), timestamp [15] (seconds, 4 bytes), Nonce (4 bytes), Bits as the current difficulty level (4 bytes) and Markel [16] root hash the transactions [9,10].…”