APPLICATION OF BLOCKCHAIN TECHNOLOGY IN BANKING TRANSACTIONS

Session

Computer Science and Communication Engineering

Description

Blockchain is a technology that is developed using a combination of different techniques such as mathematics, algorithms, cryptography, economic models. Blockchain is a public book of all cryptocurrency transactions that have been digitized and decentralized

In this paper we will measure through the blockchain application how much is hashrate and how much is the benefit for currency transactions in blockchain, results will be obtained by comparing the relationship between transactions and transaction cost and hashrate

The paper presents the stages of development of blockchain technology, the advantages of this technology over banking transactions, the introduction of this technology in the banking industry, will also note the use of blockchain in the transport of goods and in the storage of valuable goods. During this thesis it will be noted how the blockchain presents both an opportunity and a risk for banks. Due to the elimination of the broker during the transaction process, as well as providing a more secure registration system.

Blockchain technology has evolved from the initial cryptocurrencies to smart contracts of the new era and has been applied in many areas, we will compare blockchain privacy requirements between security and privacy. There will also be developed in the C ++ programming language.

Keywords:

Blockchain, C++, cryptography, decentralized, banking, transactions, hashrate .

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-550-50-5

Location

UBT Kampus, Lipjan

Start Date

29-10-2022 12:00 AM

End Date

30-10-2022 12:00 AM

DOI

10.33107/ubt-ic.2022.266

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Oct 29th, 12:00 AM Oct 30th, 12:00 AM

APPLICATION OF BLOCKCHAIN TECHNOLOGY IN BANKING TRANSACTIONS

UBT Kampus, Lipjan

Blockchain is a technology that is developed using a combination of different techniques such as mathematics, algorithms, cryptography, economic models. Blockchain is a public book of all cryptocurrency transactions that have been digitized and decentralized

In this paper we will measure through the blockchain application how much is hashrate and how much is the benefit for currency transactions in blockchain, results will be obtained by comparing the relationship between transactions and transaction cost and hashrate

The paper presents the stages of development of blockchain technology, the advantages of this technology over banking transactions, the introduction of this technology in the banking industry, will also note the use of blockchain in the transport of goods and in the storage of valuable goods. During this thesis it will be noted how the blockchain presents both an opportunity and a risk for banks. Due to the elimination of the broker during the transaction process, as well as providing a more secure registration system.

Blockchain technology has evolved from the initial cryptocurrencies to smart contracts of the new era and has been applied in many areas, we will compare blockchain privacy requirements between security and privacy. There will also be developed in the C ++ programming language.