Blockchain Technology : Bitcoin as a case
Huhmo, Mikko (2018)
Huhmo, Mikko
Oulun ammattikorkeakoulu
2018
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201805137817
https://urn.fi/URN:NBN:fi:amk-201805137817
Tiivistelmä
This thesis goes over Blockchain technology in the case of Bitcoin, how and what Blockchains do and what kinds of uses Blockchain might have in the future in different industries. The objective of this thesis is so that anyone, even someone who hasn’t heard about Blockchain or Bitcoin, gets an understanding what it is, where it is used and what applications can it possibly be used in the future. The background knowledge for this work is mostly online and news sources, since Blockchain is a new topic and new uses are constantly arising.
Blockchain is essentially a public ledger that keeps track of any online transactions in the Blockchain network. All computers connected to this network keeps a record of the transactions and together they approve or deny data coming into the chain with certain requirements. No data can be altered without the consent of the majority on computing power in the network. Blockchain technology is a solution for many industries like banking, health care, voting, cyber security, smart contracts for many different applications, etc. However, in many industries it is still in very early stages of implementation and concrete applications are yet to be made. Altogether it saves money, time, reduces fraud, and makes many things much easier to complete or keep track of implementation is challenging.
Based on the research that were found, Blockchain technology has a much bigger use than in just virtual currencies such as Bitcoin. It can be expected be entering different industries during the next few years, such as in banking, health care, voting, cyber security, insurance, shipping, etc. These are just a few of the biggest applications that are being developed by different companies.
Blockchain is essentially a public ledger that keeps track of any online transactions in the Blockchain network. All computers connected to this network keeps a record of the transactions and together they approve or deny data coming into the chain with certain requirements. No data can be altered without the consent of the majority on computing power in the network. Blockchain technology is a solution for many industries like banking, health care, voting, cyber security, smart contracts for many different applications, etc. However, in many industries it is still in very early stages of implementation and concrete applications are yet to be made. Altogether it saves money, time, reduces fraud, and makes many things much easier to complete or keep track of implementation is challenging.
Based on the research that were found, Blockchain technology has a much bigger use than in just virtual currencies such as Bitcoin. It can be expected be entering different industries during the next few years, such as in banking, health care, voting, cyber security, insurance, shipping, etc. These are just a few of the biggest applications that are being developed by different companies.