Code – CSG6224
Subject – Block Chain Project Proposal
This assignment will explain about transaction based processes that underwrite much of the global economy. It is a registry of IP rights, to catalogue and store original works.
This assignment aims at digital currency like Ethereum or Bitcoin. Digital currency can make transactions easy without any fees and changing from paper currency to digital currency to easily handle the money.
The taxes and the transaction fees on international money transfer are too much. It takes almost 3-4 business days for the digital currency to help out with no transaction fees as beneficiary or intermediary fees will be involved. There will be 1% chances of having illegal money in this
Review of literature
Blockchain has no central point means there is no bank but everyone is bank, it works on peer to peer network (P2P) each node is connected to other, every node holds same information. A blockchain is a chain of blocks build up by multiple transactions or miners mine it by complex mathematics, each block contains Time, Transaction, Hash, Previous hash, except first block which is called Genesis block, Genesis block do not have Previous Hash as it is the first ever block.
Each transaction is encrypted using different hashing method, it is one-way encryption. Digital signatures are required for authentication and validation of transactions.
Note – There are different ways to collect information. You can gather information related to Block chain and crypto currency or use Bitcoin, Litecoin and Ehtereum to collect information for digital currency.
There will be a Digital currency for users and opportunity for miners to mine digital currency.
1. Introduction and Background (20 Marks)
2. Research Design and Methodology (20 Marks)
3. Presentation and Discussion of Results (20 Marks)
4. Writing, Presentation and cohesiveness (10 Marks)
5. Referencing (10 Marks)
These marks are further categorized as:
1. Research aims and objectives (5 Marks)
2. Background and Literature review (5 Marks)
3. Research Methodology and Design (5 Marks)
4. Writing, Presentation and Cohesiveness (5 Marks)