2021
DOI: 10.4018/978-1-7998-2414-5.ch005
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A Review on Bitcoin and Currency Encryption

Abstract: In today's world, security has become a major issue in our lives, and in this era, one cannot trust the government for handling their lifetime savings. That's where the bitcoin comes to our lives. In this chapter, the authors try to understand one of the famous innovative payment methods (Bitcoin), how it is used and the data structure (Merkle tree) that is used in it. Also, they discuss one of the most recent attacks that involved the use of bitcoin (Wanacry). Further, they try to understand how this hack suc… Show more

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“…(iii) Smart Contract: the smart contract is essentially a digital business contract which can build trust in the transaction process by matching the data structure of the blockchain. The smart contract adopts the programmable script mode, which can work automatically under the condition of meeting the rules to avoid the risks of external intervention, tampering, and malicious manipulation [65,66] The blockchain implements a multinode trust network through the above algorithms to achieve a decentralized trust system that cannot be achieved by traditional algorithms, and the features of blockchain include decentralization, difficulty of modification, data security, and collaborative maintenance, which makes it very suitable for multi agent management and dispersed individual collaboration scenarios, such as the smart education environment [67][68][69].…”
Section: Main Blockchain Algorithms In Educationmentioning
confidence: 99%
“…(iii) Smart Contract: the smart contract is essentially a digital business contract which can build trust in the transaction process by matching the data structure of the blockchain. The smart contract adopts the programmable script mode, which can work automatically under the condition of meeting the rules to avoid the risks of external intervention, tampering, and malicious manipulation [65,66] The blockchain implements a multinode trust network through the above algorithms to achieve a decentralized trust system that cannot be achieved by traditional algorithms, and the features of blockchain include decentralization, difficulty of modification, data security, and collaborative maintenance, which makes it very suitable for multi agent management and dispersed individual collaboration scenarios, such as the smart education environment [67][68][69].…”
Section: Main Blockchain Algorithms In Educationmentioning
confidence: 99%