Implementation of Blockchains as a Distributed Ledger

Abstract

The need for security and privacy calls into question the need for a model which control a large quantity of personal information. Block chain is used to link blocks using cryptography. SHA256 algorithm is used to implement blockchains. It consists of a database that is placed across the nodes on a peer-to-peer network where a copy of the ledger and updates are made independently. Once the update is made it cannot be altered without altering the subsequent blocks. The block chains concept can be extended to form a good solution for problems related to trust issues in society. Key Words: blockchain, distributed ledger, SHA256, security