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      1 Email: [email protected]

      2

      The Scope for Blockchain Ecosystem

       Manisha Suri

       K.L. Mehta Dayanand College for Women, Faridabad, India

       Abstract

      As the up gradation in modern technologies has not only resulted in an eruption of huge data sets being captured and recorded in various fields, but also turn up to the security of records to avoid forge during depository, transportation, processing, updating and accessing. Transactions can be a commutation of an asset, the execution of the terms of a self-executing script-smart contract, or an updation into anecdote. Vital exposure of blockchain ecosystem and its comprehensive danger are entrenched in its ecosystem – the hub of miners, developers, suppliers, consumers, shareholders or stakeholders, and actors. Latterly blockchain technology is not limited to crypto currency but operating on financial and business applications. Decentralization, non changeable and clarity are the base on which blockchain technology working. This ecosystem is propagating with involvement from both sectors actors-public & private. This chapter deals with delineation of the foundation of the blockchain ecosystem in businesses, starting with the definition then blockchain act as a game changer and drilling down to a level of detail about effect of energy production from business ecosystem on the planet. In order to explicate the components of the blockchain ecosystem, this chapter provides examples of companies currently operating in different areas. However, blockchain companies (Bloq, Factom, Symbiont, Blockstream, PayStand, tZERO, Skuchain.) may function in more than one zone as they do not easily accommodate into one area of ecosystem, develop in capabilities and transition between areas over period of time.

      Keywords: App-decentralized application, BCD-blockchain development, Baas-blockchain as a service, KYC—know your customers, actors—users

2.1 Introduction

Blockchain is a type of database that is shared across a network of computers, by allowing the transparency of transaction. Records containing information are added