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Blockchain Transaction Processing

Encyclopedia of Big Data Technologies

Synonyms

Blockchain consensus; Blockchain data management; Cryptocurrency

Definitions

A blockchain is a linked list of immutable tamper-proof blocks, which is stored at each participating node. Each block records a set of transactions and the associated metadata. Blockchain transactions act on the identical ledger data stored at each node. Blockchain was first perceived by Satoshi Nakamoto (Satoshi 2008), as a peer-to-peer money exchange system. Nakamoto referred to the transactional tokens exchanged among clients in his system as Bitcoins.

Overview

In 2008, Satoshi Nakamoto (Satoshi 2008) came up with the design of an unanticipated technology that revolutionized the research in the distributed systems community. Nakamoto presented the design of a peer-to-peer money exchange process that was shared yet distributed. Nakamoto named his transactional token as Bitcoin and brought forth design of a new paradigm blockchain.

The key element of any blockchain system is the existence of an...

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Notes

  1. 1.

    We are assuming fair and ideal conditions, where each node works independently.

  2. 2.

    As per some claims, one Bitcoin transaction consumes power equivalent to that required by 1.5 American homes per day.

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Authors and Affiliations

  1. Department of Computer Science, University of California, Davis, Davis, CA, USA

    Suyash Gupta & Mohammad Sadoghi

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  1. Suyash Gupta
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  2. Mohammad Sadoghi
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Corresponding author

Correspondence to Mohammad Sadoghi .

Editor information

Editors and Affiliations

  1. School of Comp. Sci. and Engineering, University of New South Wales School of Comp. Sci. and Engineering, Eveleigh, New South Wales, Australia

    Sherif Sakr

  2. Sch of Info Techno, Building J12, University of Sydney Sch of Info Techno, Building J12, Sydney, Australia

    Albert Zomaya

Section Editor information

  1. Computer Science, University of California, Davis, California, USA

    Mohammad Sadoghi

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Gupta, S., Sadoghi, M. (2018). Blockchain Transaction Processing. In: Sakr, S., Zomaya, A. (eds) Encyclopedia of Big Data Technologies. Springer, Cham. https://doi.org/10.1007/978-3-319-63962-8_333-1

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  • DOI: https://doi.org/10.1007/978-3-319-63962-8_333-1

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Chapter history

  1. Latest

    Blockchain Transaction Processing
    Published:
    10 March 2022

    DOI: https://doi.org/10.1007/978-3-319-63962-8_333-2

  2. Original

    Blockchain Transaction Processing
    Published:
    19 April 2018

    DOI: https://doi.org/10.1007/978-3-319-63962-8_333-1

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