Architecture of Blockchain‐Enabled Decentralized Systems
Rohit Kumar, Sandhya Avasthi, Suman Lata Tripathi · 2024
With the expansion in Internet infrastructure, demands for internet technology increased and there is a need for a secure system that is decentralized in nature, combined with a secure and transparent infrastructure that is fulfilled by one of the trending technologies named blockchain. Blockchain technology has significantly advanced over the past few years, with new applications and use cases being discovered and developed every day. The decentralized nature of blockchain, combined with its secure and transparent infrastructure, has made it a highly sought-after solution for various industries, including finance, healthcare, supply chain management, and government services. The expansion of blockchain technology is a result of its increasing adoption and integration into various sectors such as finance, healthcare, supply chain management, and more. One of the key drivers of the expansion of blockchain is the increasing demand for secure, tamper-proof, and transparent transactions. This has led to the development of various blockchain platforms, such as Ethereum, which helps in the development of decentralized applications or dApps for a variety of purposes from financial records to data storage. In a blockchain network, transactions are grouped into blocks and verified by network participants known as nodes. Once a block is verified and added to the chain, the information it contains cannot be altered, providing a secure and tamper-proof record of transactions. By means of this chapter, a blockchain-based architecture of a system is described here.