Abstract
Blockchain has drawn attention as the next-generation financial technology due to its security that suits the informatization era. In particular, it provides security through the authentication of peers that share virtual cash, encryption, and the generation of hash value. According to the global financial industry, the market for security-based blockchain technology is expected to grow to about USD 20 billion by 2020. In addition, blockchain can be applied beyond the Internet of Things (IoT) environment; its applications are expected to expand. Cloud computing has been dramatically adopted in all IT environments for its efficiency and availability. In this paper, we discuss the concept of blockchain technology and its hot research trends. In addition, we will study how to adapt blockchain security to cloud computing and its secure solutions in detail.
Highlights
With the need for next-generation financial technology recently increasing, there have been active studies on blockchain for the secure use of electronic cash by communicating solely between peers and without the involvement of third parties
A blockchain is the public ledger for transactions and it prevents hacking during transactions involving virtual cash
We study the specific use of blockchain in bitcoin
Summary
With the need for next-generation financial technology recently increasing, there have been active studies on blockchain for the secure use of electronic cash by communicating solely between peers and without the involvement of third parties. The hash value is generated by verifying it and connecting the previous block This block is periodically updated and reflected on the electronic cash transaction details to share the latest transaction detail block. We seek to investigate the definition and base technology of blockchain and survey the trend of studies to date to discuss areas to be studied, considering cloud computing environments. This paper studies the blockchain technology and surveys the blockchain by analyzing generic technology and research trends and discusses the solution for using bitcoin safely as well as future study areas.
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