Book Title: Intelligent Systems
Editors: Dr. S.C. Vettivel, Dr. Leema Nelson and Dr. D. Poornima
ISBN: 978-81-979197-4-9
Chapter: 2
DOI: https://doi.org/10.59646/isc2/259
Authors:
Ms.R. Ridhi Mayura Shivani and Dr. D. Poornima, Assistant Professor, Department of Computer Science and Engineering, Sathyabama Institute of Science and Technology, Chennai 600119, Tamil Nadu, India.
Abstract
Originally designed as the underlying technology for Bitcoin, blockchain has now become a flexible and revolutionary tool that is being used in other sectors. The fundamental tenets of blockchain technology, including decentralisation, transparency, and immutability, have demonstrated their worth outside the domain of digital money. They provide effective resolutions to intricate problems in various industries, including finance, healthcare, supply chain management, and governance. This abstract offers a succinct summary of the utilisation of blockchain technology to bolster confidence, optimise operations, and guarantee the integrity of data. Blockchain has the ability to revolutionise established business procedures by removing intermediaries and establishing safe, transparent systems, resulting in increased efficiency and trustworthiness. In addition, the abstract discusses emerging trends in blockchain technology, including the advancement of more effective consensus mechanisms and the incorporation of blockchain with other sophisticated technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT). These tendencies suggest that blockchain is a dynamic technology that is always developing, with the ability to potentially influence a wider range of businesses in the future. As continuous research and innovation tackle the existing constraints of blockchain, its involvement in the digital economy is anticipated to expand, presenting fresh prospects for commercial and technical progress.