SOLUTION: Understanding Blockchain Technology Article Review

View attached explanation and answer. Let me know if you have any questions.1Blockchain Article Review: Understanding Blockchain TechnologyStudentCourseProfessorInstitutionDate2IntroductionSarmah (2018) wrote an article referred to as Understanding Blockchain Technology, asignificant technological advancement of the modern day which shall be focus of review in thispaper. The article introduces the definition of blockchain by stating that it is mainly applied incryptocurrencies. Additionally, Sarmah (2018) holds that blockchain pertains to a distributivetransaction database that is managed through multiple computer networks. Furthermore, theserecords are not supervised using an individual authority, for example, banks; instead, a broadercommunity or does the supervision. Consequently, persons lack the means of altering or deletingthe data using blockchain technology due to the absence of individualized authority. Therefore, itis valid to conclude that a blockchain is a form of a decentralized network to which Crosby et al.(2016) holds the same perception. Instead, blockchain functions as a peer-to-peer network hencedistinct from traditional computer networks. Crosby et al. (2016) holds the exact definition ofblockchain technology but further gives it a more basic analogy in explaining its security; theauthors maintain that there is an ease in stealing a cookie from a cookie jar that is isolated incomparison to one that is in a market place. Therefore, the community approach in blockchain isthe market place in this instance which means that there is minimal means of data tempering inthe presence of multiple users.History of BlockchainHowever, Sarmah (2018) ensures that the readers comprehend that blockchain technology has ahistory. The author begins by mentioning a paper from 1976 that discusses the idea of distributedledger in cryptography. Furthermore, the author discusses other literature that was linked to thecreation of the modern-day bitcoin; for example, another scholar mentioned is Wei Dai, whocreated the ideology of money creation referred to as “b-money” that was inspired by another3article that discussed the means of addressing spam mails in 1997 by Adam Back. While allthese papers were a path to the modern-day blockchain, the author refers to an articletitled Bitcoin: A Peer-to-Peer Electronic Cash System, published in 2008 and written by SatoshiNakamoto as the …

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