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Cryptographic Technology Blockchain and Its Applications

  • Andriy LuntovskyyEmail author
  • Dietbert GuetterEmail author
Conference paper
Part of the Lecture Notes in Electrical Engineering book series (LNEE, volume 560)

Abstract

The use of modern cryptotechnology “Blockchain” for acceleration, transparency and decentralization of financial transactions and as a promising digital payment instruments and cryptocurrencies (e.g. Bitcoin, Monero, and Ethereum) has become an important trend since approximately 2000.

This article focuses the problem of using blockchain technologies and their networked cryptographic applications and apps.

The influencing factors and sources of Blockchain cryptotechnology were discussed, the comparison of centralized bank systems vs. decentralized systems was carried out, the mining process for cryptographic currencies, the concept of a public ledger, the validation principles PoW and PoS are represented, and profitability of cryptographic currencies was analyzed. Furthermore, important applications of Blockchain cryptotechnology were shown (such as Smart Contracting, Bletchley) as well as the accompanying risks, their advantages and disadvantages were discussed. In addition, the malicious applications were discussed such as the ransomware (extortion Trojans).

Finally, the potential and future perspectives of Blockchain cryptotechnology for real business applications were assessed.

Keywords

Blockchain Cryptocurrency Electronic payments Decentralized payment system Mining Energy efficiency Bitcoin Ethereum Monero Smart Contracting Ransomware Profitability 

Notes

Acknowledgment

Authors’ acknowledgements to the BA Dresden students and scientific fellows (M. Stoll, E. Zumpe, F. Franke, Prof. Dr. L. Zipfel, Prof. Dr. E. Jahn), the colleagues and friends (Prof. Dr. L. Globa from NTUU “Igor Sikorsky KPI” Kyiv, Dr. habil. J. Spillner from ZHAW Zurich) for technical support, inspiration and challenges by fulfilling of this work.

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.BA Dresden University of Cooperative Education (Saxon Study Academy)DresdenGermany
  2. 2.Dresden University of TechnologyDresdenGermany

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