Networked Application Management
9 Pages2654 Words79 Views
Added on 2021-06-14
Networked Application Management
Added on 2021-06-14
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Running head: NETWORKED APPLICATION MANAGEMENTNetworked Application ManagementName of the StudentName of the UniversityAuthor’s Note:
1NETWORKED APPLICATION MANAGEMENTTable of ContentsIntroduction...........................................................................................................................................2Discussion..............................................................................................................................................2Part 1: Blockchain..............................................................................................................................2Part 2: Applications of Blockchain.....................................................................................................4Part 3: Socio-Technical Aspects.........................................................................................................5Conclusion.............................................................................................................................................6References.............................................................................................................................................7
2NETWORKED APPLICATION MANAGEMENTIntroductionBlockchain can be defined as the continuously evolving and enhancing list of records. Theserecords are known as blocks and these are subsequently connected as well as secured with the helpof cryptography [13]. Each and every block comprises of the cryptographic hash of the block that isthe predecessor. Moreover, it also comprises of the data transaction and the time stamp. When thedesign of the Blockchain is considered, it is inherently and eventually resistant to the datamodification. Blockchain can also be referred to as the distributed and open ledger, which has theability to record the transactions within the two parties. These transactions could be recordedeffectively and efficiently in the most verifiable method [2]. Blockchain is considered as the mosteffective technology that would change the entire technological world with its uses.The following report outlines a brief discussion on the entire concept of Blockchain. Thereport is divided into three parts. They are the Blockchain, its applications and the socio technicalaspects of this technology. Relevant details will be provided here. DiscussionPart 1: BlockchainBlockchain is the new technology in modern world that provides easy money transfer andpayment processing. Furthermore, it also monitors the supply chain and helps in sharing data orinformation [1]. The technology of Blockchain can be demonstrated in three aspects. They are thearchitecture, features and challenges. i) Architecture: A Blockchain is the mesh network of various systems that are linked with oneanother and not with the centralized server [4]. The systems within this network solely define as wellas agree on the shared data and thus adhere to the various constraints that are imposed on thedata. The shared state is the machine of distributed state that has each and every block for thechange. The various architectural components of the Blockchain are transactions, blocks, consensusand mining [11]. All these components could be generalized as well as implemented in severalmethods and hence leading to the most effective projects of Blockchain. Transactions provide the Blockchain a proper purpose. These are the smallest blocks forbuilding in any Blockchain system. These transactions usually comprise of a value, a sender addressand a recipient address. This transaction helps to shift the value from one address to the next [12]. Itchanges the state of the corrected Blockchain. Each and every node eventually holds its own
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