Network Application Management

Running head: NETWORK APPLICATION MANAGEMENT
NETWORK APPLICATION MANAGEMENT
Name of the Student
Name of the University
Author Note

2NETWORK APPLICATION MANAGEMENT
Table of Contents
Introduction................................................................................................................................3
Part 1: Block chain.....................................................................................................................3
Part 1.1 Architecture..............................................................................................................3
Part 1.2 Features.....................................................................................................................4
Part 1. 3 Challenges................................................................................................................5
Part 2 Application......................................................................................................................6
Part 2.1 Currency...................................................................................................................6
Part 2.2 Smart Contacts..........................................................................................................6
Part 3: Socio technical aspect.....................................................................................................7
Block chain smart contract.....................................................................................................7
Currency.................................................................................................................................8
Conclusion..................................................................................................................................8
References..................................................................................................................................9

3NETWORK APPLICATION MANAGEMENT
Introduction
The concept of blockchain can be considered very much essential for the concept of
database of records or public ledger relating to all the digital events and transactions that have
been shared and executed among participating parties. The transactions of the public ledger
are verified by the consensus of the majority of the participants of the system. The
information ones it is entered into the system cannot be erased. The concept of blockchain
contains certain and record which are verified taking into consideration every single
transaction, which is made [2]. One of the most popular example relating to the blockchain
technology is the Bit coin. On the other hand, it can be stated that it is most controversial one
due to the factor that it helps the concept of enabling a “multibillion dollar global market
which is related to the anonymous transaction without and control of the government”.
However it can be stated that the technology of blockchain itself is very much join
controversial and has flawlessly worked over the years and is being very much successfully
applied to both the sector of non-financial and financial [5].
The focus point in the report is to take into consideration the aspects of block chain
technology taking into consideration the sectors of features, architecture and challenges. The
second focus point of the report is to conduct an analysis in the sector of currency and
internet of things. The term socio technical aspect is also one of the focus point of the
technology, which is also focused.
Part 1: Block chain
Part 1.1 Architecture
Blockchain architecture can be considered ingenious application, which function very
much like a database of transaction, and runs on a server, which is distributed, designed as
distributed ledger. The system can be considered as decentralized system, which is powered