Success of Blockchain and Bitcoin
Chirag Madan1, Aayushi Sinha2, Kamlesh Sharma3
1Chirag Madan, Students, Department of Computer Science and Engineering, FET, Manav Rachna International Institute of Research and Studies, Faridabad (Haryana), India.
2Aayushi Sinha, Students, Department of Computer Science and Engineering, FET, Manav Rachna International Institute of Research and Studies, Faridabad (Haryana), India.
3Dr. Kamlesh Sharma, Associate Professor, Department of Computer Science and Engineering, FET, Manav Rachna International Institute of Research and Studies, Faridabad (Haryana), India.
Manuscript received on 05 January 2019 | Revised Manuscript received on 20 January 2019 | Manuscript published on 30 January 2019 | PP: 1-7 | Volume-7 Issue-5, January 2019 | Retrieval Number: E1797017519 ©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Block chain technology in today’s time changing the world of transactions and documentations. Mainly it gives a transparency to the numerous fields like electronic voting, cost analysis of product manufacturing, paying employees, cloud storage and smart contracts (the economist). Or we can say that these applications are the major pillors of a country which can be handled very efficiently with the help of blockchain technology. This paper explains the role of blockchain in bitcoin and will give the applications of blockchain In the field of transactions, governance, productions and documentation. The use of blockchain will reduce the use of third party and third party databases. The paper will give the relation of bitcoin and blockchain technology for improving the political aspects of country and reducing the dominating behaviour of the powerful persons and frauds in various fields by giving the transparency.
Keywords: Transactions; Governance; Productions Component; Blockchain
Scope of the Article: Component-Based Software Engineering