School of Business
LeBlanc, Nathanial, "An Analysis and Enumeration of the Blockchain and Future Implications" (2020). Senior Honors Theses. 962.
The blockchain is a relatively new technology that has grown in interest and potential research since its inception. Blockchain technology is dominated by cryptocurrency in terms of usage. Research conducted in the past few years, however, reveals blockchain has the potential to revolutionize several different industries. The blockchain consists of three major technologies: a peer-to-peer network, a distributed database, and asymmetrically encrypted transactions. The peer-to-peer network enables a decentralized, consensus-based network structure where various nodes contribute to the overall network performance. A distributed database adds additional security and immutability to the network. The process of cryptographically securing individual transactions forms a core service of the blockchain and enables semi-anonymous user network presence.