Study of Blockchain with Bitcoin based Fund Raise Use case using Laravel Framework

Abstract

Blockchain is a deliberately spreading set of data called as Blocks, which are associated and assured by the use of Cryptography. Each Block of this Blockchain consists of cryptographic hash of the preceding block, a timestamp and transaction information. Modification of Data by fraudsters is highly challenging in Blockchain by its design. It is an accessible shared register that can store activities between two internet users securely. Such a technology is an easy way for one person using internet to send fragment of digital property to other person who is also using internet, such that transfer of data or communication will be very secure and none of the sensitive details would be leaked. With the usage of Blockchain technology, several people can write the data into the Record and also sector of users can manage how the Record should be added with new entries. This technology is now being employed in a variety of applications like digital currency, supply chain management, medical information systems etc. In this paper, we have studied the technology behind Blockchain and the application of the same in several use cases. We have also implemented fund raise use case using Laravel PHP Framework to illustrate the steps of using Blockchain to assure secure transactions.