Terminology And Technical Foundations Of Blockchains

Dr. Sumegh Shrikant Tharewal Currently working as Program Head of M.Sc. Blockchain Technology at Dr. Vishwanath Karad MIT World Peace University, Pune, India, he completed his Ph.D. from Dr. Babasaheb Ambedkar Marathwada University Aurangabad, Maharashtra, India in the Department of Computer Science, and Information Technology. He is having 12+ years of experience in Research and academics. He worked with different reputed organizations like Manipal University Jaipur, Dr. Babasaheb Ambedkar Marathwada University, Aurangabad, Government Institute of Forensic Science, Aurangabad, Maharashtra. His research interests include Blockchain Technology, Biometrics, Machine Learning, Artificial Intelligence, and Pattern Recognition, and Image Processing. He has published more than 40 Research Papers in various national, and international conferences, and International Peer-Reviewed Journals like IEEE, Springer, and Elsevier. 15 Scopus-indexed Research Papers in his credit, and he received 210 citations with a 9 h index on Google Scholar for his publication.

He received 2 Fellowships in his Ph.D. tenure one is from UGC SAP BSR by the University Grant Commission Government of India and the second is from Avishkar Fellowship by the Government of Maharashtra. He received the Research Excellence award 2019 from the Institute of Scholars Bangalore, and the Indo Asian Young Scientist Award 2021 in Biometrics from the International Multidisciplinary Research Foundation (IMRF) Registered with the Government of India NITI Aayog NGO Darpan. 13 Patents in his credit,  4 with the Government of India, 5 with the Australian Government, 1 with the South African Government, and 2 with the Government of Germany out of 13 patents he received 5 patents grant from the Government of Australia, and 2 patents grants from the Government of Germany. He is a Ph.D. Supervisor of Dr. Vishwanath Karad MIT World Peace University, Pune, and Ph.D. Co-supervisor at Manipal University, Jaipur, Rajasthan, India. He has Successfully Completed 5 Research Projects, and he is handling 4 ongoing research projects. He guided more than 30 Postgraduate students and 20 undergraduate students in their projects.

 

Dr. Shantanu Pandurang Kanade is Working as an Assistant Professor in the School of Computer Science at Dr. Vishwanath Karad MIT World Peace University, Pune. He graduated in Chemistry from Shivaji University, Kolhapur India. He secured a Master of Computer Application at Shivaji University, Kolhapur, India. He completed his Ph.D. in the field of Education Technology, at MUIT, Lucknow, India. He is in the teaching profession for more than 17 years. He has presented several papers in National and International Journals, conferences, and Symposiums. His main area of interest includes Education Technology & Fintech.

Dr. Anuradha Shantanu Kanade is Working as a Program Head (MCA Science) in the School of Computer Science at Dr. Vishwanath Karad MIT World Peace University She graduated in Physics from Shivaji University, Kolhapur India. She secured a Master’s in Computer Application at Shivaji University, Kolhapur, India. She completed her Ph.D. in the field of NoSQL databases, at Savitrbai Phule Pune University, Pune India. She is in the teaching profession for more than 19 years. She has presented several papers in National and International Journals, conferences, and Symposiums. Her main area of interest includes Databases, the Theory of Computer Science, AI & ML.

Dr. Sujeet More, has pursued his doctoral degree in Intelligent Systems (Deep Learning) from Lovely Professional University, Punjab. He has pursued his master’s degree (M. Tech) and bachelor’s degree (B. E) from Visvesvaraya Technological University, Belagavi. He is working as an Assistant Professor with more than 10 years of experience. He has published many articles in reputed SCI and Scopus indexed journals. He has worked as guest editor and reviewer for many reputed international conferences and journals. He is a life member of ISTE, IEI and many professional bodies.

Description

Simply put, a blockchain is a distributed database or public ledger of all digital transactions or events that occur and are shared between participating parties. Blockchains are used in cryptocurrencies such as Bitcoin and Ethereum. After unanimous approval of the vast majority of users connected to the system, every transaction recorded in the public registry is considered duly verified. Once the information is added to the system, it cannot be deleted. Blockchain maintains an immutable and verifiable record of every transaction that has taken place in cryptocurrency history. Bitcoin is the best-known application of blockchain technology today. Bitcoin is a peer-to-peer digital currency that operates without the need for a central authority. On the other hand, the blockchain technology that underpins Bitcoin has proven to work flawlessly and is used for various purposes in the financial and non-financial sectors of the global economy. The main hypothesis behind this research is that blockchain technology has the potential to facilitate the attainment of decentralized consensus in the context of digital and online interactions. Participating organizations have the opportunity to know beyond doubt that a particular digital event has occurred as a result of the development of an indisputable record in a public ledger. This can be achieved by following the steps outlined in the previous sentence. It opens the door to the transition from a centralized digital economy to a democratic, open and scalable economy. With the potential to completely change the game, this technology is just beginning, ushering in an era of game-changing changes that open up countless possibilities. This white paper provides an introduction to blockchain technology and a fascinating array of specific applications in finance and other industries. Below, we look at the frontline challenges and business opportunities that exist in this fundamental technology that will dramatically revolutionize our digital world. Simply put, a blockchain is a distributed database or public ledger of all digital transactions or events that occur and are shared between participating parties. Blockchains are used in cryptocurrencies such as Bitcoin and Ethereum. After unanimous approval of the vast majority of users connected to the system, every transaction recorded in the public registry is considered duly verified. Once the information is added to the system, it cannot be deleted. Blockchain maintains an immutable and verifiable record of every transaction that has taken place in cryptocurrency history. Bitcoin is the best-known application of blockchain technology today. Bitcoin is a peer-to-peer digital currency that operates without the need for a central authority. On the other hand, the blockchain technology that underpins Bitcoin has proven to work flawlessly and is used for various purposes in the financial and non-financial sectors of the global economy. The main hypothesis behind this research is that blockchain technology has the potential to facilitate the attainment of decentralized consensus in the context of digital and online interactions. Participating organizations have the opportunity to know beyond doubt that a particular digital event has occurred as a result of the development of an indisputable record in a public ledger. This can be achieved by following the steps outlined in the previous sentence. It opens the door to the transition from a centralized digital economy to a democratic, open and scalable economy. With the potential to completely change the game, this technology is just beginning, ushering in an era of game-changing changes that open up countless possibilities. This white paper provides an introduction to blockchain technology and a fascinating array of specific applications in finance and other industries. Below, we look at the frontline challenges and business opportunities that exist in this fundamental technology that will dramatically revolutionize our digital world.

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