Adoption of Blockchain to build a Cryptocurrency for Ledger Systems
Salil Abrol1, Ajay Dureja2, Aman Dureja3
1Salil Abrol, Department of Computer Science and Engineering, PDM University, Bahadurgarh (Hr.), India.
2Ajay Dureja, Department of Computer Science and Engineering, PDM University, Bahadurgarh (Hr.), India.
3Aman Dureja, Department of Computer Science and Engineering, PDM University, Bahadurgarh (Hr.), India.
Manuscript received on September 20, 2019. | Revised Manuscript received on October 15, 2019. | Manuscript published on October 30, 2019. | PP: 1143-1151 | Volume-9 Issue-1, October 2019 | Retrieval Number: A9506109119/2019©BEIESP | DOI: 10.35940/ijeat.A9506.109119
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: The idea of the cryptocurrency was to decentralize the currency system by establishing transactions over distributed peer to peer network . The technology of Blockchain was adopted to achieve this motive. The term blockchain comes from the idea of list of blocks, growing continuously over time wherein every block carries the data relating to the transactions and data regarding the cryptographical linkage using secure hash algorithms and the protocols . Through this paper, we have shown the implementation of the blockchain technology so as to build the cryptocurrency. While building up the cryptocurrency, called the ‘Sant Coin’, the idea about how this technology can revolutionize the traditional existing ledger systems can be upgraded so as to implement secure means of transactions over a distributed network. This implementation work suggests the use of technology in almost every governing body so that they can secure themselves and limit the dependency on human resource to do their central authoritative work .
Keywords: Block, Blockchain, Cryptocurrency, Cryptocurrency linkage, Currency, Distributed network, Ledger, Peer to peer networks, Transactions, Sant Coin, Server.