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Blockchain is a decentralized trust platform characterized by several fundamental features.
First, let’s consider the Decentralized Ledger. Blockchain is designed to store transactions across a network of computers, making each block linked to the previous block. This structure complicates data tampering and enhances both transparency and security. Unlike traditional systems, the decentralized nature of blockchain solves the problem of single points of failure.
Next, we have Smart Contracts. These are self-executing contracts written into code. When predetermined conditions are met, the contracts automatically execute the agreed codes. This automation not only ensures reliability and transparency but also eliminates the need for intermediaries, thus reducing both transaction costs and execution time.
Lastly, Blockchain technology can greatly improve the management of supply chains by enhancing transparency, integrity, and reliability—not only in traditional sectors but also specifically in the software supply chain.
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IEEE/ICACT20250067 Slide.05
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