Distributed Ledger System Analysis with Crypto-currency and other Useful Applications and Use Cases

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  • The main purpose of this research is to explore the potential of Distributed Ledger System analysis (DLT) with respect to cryptocurrencies and other useful application. Distributed ledger technology can play a crucial role in the future of our financial system and other useful sectors. In 2009 cryptocurrency Bitcoin introduced DLT and from past few years it’s been targeted by numerous financial and government sectors. With the help of computer science, concepts of encryption such as public-key cryptography and algorithms DLTs made it possible to keep the trusted third party away and to prevent shared databases restricted between the participators. This research on distributed ledger technology (DLT) and blockchain is part of a sequence that will outlines the history that led to the present-day system, mechanisms, and key features of DLT, the difference between private and public DLT, the technology’s main advantages and challenges or risk, relevant examples of DLT and discover the substitute concepts and an summary of activities by international organization, government and other participants. Finally, this research proposes the next phases to study and evaluate areas where DLT could possibly be integrated.

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    Attribution-NonCommercial 4.0 International