BASIC: Blockchain application and smart intelligent contract

Abstract

As well known, a blockchain is said to be a database of distributed ledger or records in which all transactions or series of events that have been committed are distributed among several entities. The series of transactions in the public ledger is checked by consensus of a several participants in the whole system. The events can never be tampered once it is entered. The blockchain technology creates a system by establishing a consensus in the online world of digital era. In the current research work, emphasis has been laid on the concept of Smart Contract in BlockChain Technology, for which a BASIC: BlockChain Application and Smart Intelligent Contract based Algorithm has been proposed.