The idea of Blockchain. 3 examples of applications used for Blockchain

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Following the reading of the articles provided the discussion board, answer the following questions:
1a. Describe in your own words the idea of Blockchain. What are the three examples of applications used for Blockchain?
1b. Explain in your own words the key issues and challenges related to security and privacy.
1c. Briefly provide your opinion about one technique that can reduce the risks associated with security and privacy properties of Blockchain.
* Provide academic or industry sources to support your answers.
*** Respond to one classmate, provide a substantial comment, and remember to address classmates by their first name.
I hereby attached the article meant for the order number 0091792. Add 5 references or more.

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Blockchain
Your name
Subject and Section
Professor’s Name
October 17, 2019

Questions:
Describe in your own words the idea of Blockchain. What are the Three examples of applications used for Blockchain?
Generally speaking, blockchain technology is the technology whereby records of transactions or any other exchange is kept in time-stamped and immutable data that has no central servers, but rather managed by a cluster of different computers that each takes account of every changes. In other words, a blockchain technology does not rely on a single server, but rather of multiple servers acting in unison, while also cross-checking any irregularities that could occur in one of the servers. Lastly, each of these servers and users are also anonymous, which further adds to the security of such technology (Crosby, Pattanayak, Verma, & Kalyanaraman, 2016). Accordingly, the three examples of the usage of Blockchain technology are (1) cryptocurrency systems, (2) smart contracts, and (3) Internet-of-Things systems (Mengelkamp, Notheisen, Beer, Dauer, & Weinhardt, 2018).

Explain in your own words the key issues and challenges related to security and privacy.
Despite being a promising solution for most issues that exist today, Blockchain technology also poses some challenges, especially when it comes to security and privacy of the users. One of the main issues related to this technology is the fact that as compared to traditional storage devices, every transaction happening within a blockchain is publicly distributed to every node that is present (Lu & Xu, 2017). This means that even private data could be accessed by an individual who has access on one of the many nodes, since each one acts as ‘servers’ in themselves.

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Instructions:
Following the reading of the articles provided the discussion board, answer the following questions: 3a. Describe in your own words the three main capabilities that are supported by the blockchain implementation 3b. Explain in your own words the Blockchain Level transaction models, benefits, and challenges related to security and privacy. 3c. Review the security and privacy Requirements of online transactions, list the seven types and outline how can blockchain transactions become vulnerable to various types of attacks (i.e. tampering, denial-of-service (DDoS), double-spending, majority consensus, and pseudonymity) 3d. Select two types of techniques and describe how they can be leveraged to enhance the security and privacy of existing and future blockchain systems 3e. Select two of the UN sustainable development goals and express how Blockchain technology will enable realizing these goals. * Provide academic or industry source to support your answers. *** Respond to one classmate, provide a substantial comment, and remember to address classmates by their first name.
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