Blockchain and decentralized systems
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Blockchain and decentralized systems
Blockchain is a decentralized and distributed digital ledger that is used to record transactions across a network of computers. It was originally developed as the technology behind the digital currency, Bitcoin. But over time, it has evolved to be used in various other applications as well.
A blockchain is made up of a series of blocks, each of which contains a number of transactions. Each block is linked to the previous block, forming a chain. This creates a tamper-proof and secure record of all transactions.
One of the key features of blockchain technology is that it is decentralized, meaning that there is no central authority or intermediary controlling the network. Instead, the network is maintained by a network of users, who work together to validate and process transactions. This decentralization allows for a high level of security and transparency, as there is no single point of failure and all transactions are recorded on the blockchain for everyone to see.
Blockchain technology has many potential uses and applications, such as:
- Cryptocurrency: Blockchain is the underlying technology behind many digital currencies, such as Bitcoin and Ethereum. This allows for secure and transparent transactions without the need for a central intermediary.
- Supply chain management: Blockchain can be used to create a tamper-proof record of goods as they move through the supply chain. This allows for increased transparency and traceability, which can improve efficiency and reduce the risk of fraud.
- Digital identity: Blockchain can be used to create a secure and decentralized system for storing and verifying personal information. This can help to protect personal data and reduce the risk of identity theft.
- Smart contracts: Blockchain can be used to create self-executing contracts that are triggered by specific conditions. This can automate and streamline a wide variety of business processes.
Decentralized systems, in general, refers to the systems that are not dependent on a central authority or intermediary. They are designed to be distributed, and can be self-governing and self-sustaining. The concept of decentralization is central to blockchain technology, but it can also be applied to other systems such as decentralized finance (DeFi) systems, peer-to-peer networks, and decentralized autonomous organizations (DAOs).
A decentralized system has several benefits over centralized systems, such as:
- Resilience: Decentralized systems are not dependent on a single point of failure, which makes them more resilient to failures and disruptions.
- Transparency: Decentralized systems provide a high degree of transparency, as all transactions and information are recorded on a public ledger.
- Security: Decentralized systems are typically more secure, as there is no central point of attack and the network is maintained by a distributed network of users.
- Censorship-resistance: Decentralized systems are not controlled by a central authority, which makes them resistant to censorship and control.
However, decentralized systems also have some challenges. One major challenge is scalability. As decentralized systems rely on a large number of users to validate and process transactions, they can become slow and inefficient as the number of users grows. Additionally, there are challenges related to governance and decision making, as it can be difficult to reach a consensus in a decentralized system.
In conclusion, blockchain and decentralized systems are emerging technologies that have the potential to revolutionize a wide variety of industries and applications. They provide a high level of security, transparency, and resilience, but also present some challenges that need to be addressed in order to fully realize their potential.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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Blockchain and decentralized systems
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