Crypto currency also known as Bitcoin has gained immense popularity in recent times. They owe their success to the underline Blockchain technology, that allows users to exchange non-physical currency in a secure and reliable manner. Blockchain has thus become a key research domain and researchers are constantly evaluating its use in other application scenarios, such as the Internet of Things, Smart Grids, Heathcare networks and etc. Despite their success in crypto currency, Blockchain cannot be just replicated and mapped into other application domains, and thus requires key insight into its architecture to actually make it work. Due to this, people have looked into Proof of Work and replaced it with Proof of State, Proof of Benefit and other similar mathematical functions.
In this assignment, we expect you to pick one Blockchain application of your interest, look for a research paper in that domain and then explain in detail:
1) How Blockchain is being used
a. Add an architecture diagram
b. Explain different modules
c. Explain what kind of transaction validation process is being used (proof of work, proof of state or something else)
2) How is this deployment different from that of the crypto-currency.
3) What other solutions are out there for the same application domain.
Th minimum number of words is 2500 excluding references, kindly abide to it.
