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Network Application and Management

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Added on  2021-06-17

Network Application and Management

   Added on 2021-06-17

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Running head: NETWORK APPLICATION AND MANAGEMENTNetwork Application and ManagementName of the StudentName of the UniversityAuthor’s Note:
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1NETWORK APPLICATION AND MANAGEMENTTable of ContentsIntroduction...........................................................................................................................................2Discussion..............................................................................................................................................2Part 1: Blockchain..............................................................................................................................2Part 2: Applications of Blockchain.....................................................................................................4Part 3: Socio Technical Aspects..........................................................................................................4Conclusion.............................................................................................................................................5References.............................................................................................................................................6
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2NETWORK APPLICATION AND MANAGEMENTIntroductionBlockchain is an important step or advancement towards technology. It is the continuouslydeveloping record list that could be interlinked together for the purpose of making it secured [14].These records are also called blocks and these blocks are made secured by means of applyingcryptography algorithm. All the blocks present in the list eventually consists of a specificcryptographic hash of any block, which is also the predecessor of the block. Furthermore, theparticular block consists of transaction of data or a time stamp. The Blockchain design is specificallyresistant to any type of modification of data [2]. The technology of Blockchain has the core capabilityof recording any type of transaction between two parties. Blockchain allows the transactions in themost effective manner. This report will be outlining a detailed description about the technology ofBlockchain. Various relevant and significant details will be given here regarding Blockchain and itsapplications. DiscussionPart 1: BlockchainBlockchain can be defined as the technology, which eventually helps with procedure formoney transfer easily and also payment processing [4]. The supply chain is subsequently monitoredand thus data sharing is done easily. There are three aspects in Blockchain. These are architecture,challenges and features.i) Architecture: Blockchain consists of a specific mesh network of several important systems,which are properly linked with each other and are not linked with the server that is centralized. Allthe significant system in the mesh network define or even agree for the sharing of data and henceremain connected with several constraints, which could be imposed on data to be shared [13]. Thereare several components of the architecture of Blockchain like transactions, consensus, mining andblocks. These are properly implemented in all the applications of Blockchain. The first component is transaction. These are smaller blocks that help in building a system ofBlockchain. All the transactions consist of various values, specific sender addresses and relevantreceiver addresses. The transaction is utilized for shifting of value from an address to another. Thesignificant state of the correct Blockchain is changed [1]. All the nodes hold the copies of Blockchain.Next, the current state is evaluated by means of process of every transaction. The transaction formatis either one or more input or output. The input is the significant reference of output for thetransactions.
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