Technological problems and possible applications in various areas of blockchain technology

The next scientific seminar of Department No. 2 was held at the Institute of Information Technology of ANAS. The head of the department, Ph.D. in engineering, associate professor Yadigar Imamverdiev delivered a presentation  “Blockchains: Components, Applications, and Problems”. He noted that Bitcoin and other cryptocurrencies were built using blockchain technology. He said that the potential of blockchains is wider and that in other areas of practice they benefit from the possibilities of this technology.

The speaker provided extensive information on the key components of the blockchain architecture, the principles of classification and the main types of blockchains, well-known blockchain platforms (Bitcoin, Ethereum, Hyperledger-Fabric, IOTA, etc.).

Then Y. Imamverdiyev widely analyzed the PoS (Proof-of-Stake) protocol, which is planned to be used in PoW (Proof-of-Work) and Ethereum networks, which are used in the Bitcoin network.

The head of department told about such projects as Corda, Bitnation, E-Residency, Smart Dubai, real estate buying and selling, digital diplomas (Massachusetts Institute of Technology) and others, the system of criteria determining the degree of compliance of blockchain for a particular area.

Scientific and practical research is expanding around the world to solve these and other problems of blockchain technologies, the speaker noted

Views on presentation were exchanged and questions were answered.

© All rights reserved. Citing to www.ict.az is necessary upon using news