@book{MeinelGayvoronskayaSchnjakin2018,
  author    = {Meinel, Christoph and Gayvoronskaya, Tatiana and Schnjakin, Maxim},
  title     = {Blockchain},
  number    = {124},
  publisher = {Universit{\"a}tsverlag Potsdam},
  address   = {Potsdam},
  isbn      = {978-3-86956-441-8},
  issn      = {1613-5652},
  url       = {http://nbn-resolving.de/urn:nbn:de:kobv:517-opus4-414525},
  publisher      = {Universit{\"a}t Potsdam},
  pages     = {102},
  year      = {2018},
  abstract  = {The term blockchain has recently become a buzzword, but only few know what exactly lies behind this approach. According to a survey, issued in the first quarter of 2017, the term is only known by 35 percent of German medium-sized enterprise representatives. However, the blockchain technology is very interesting for the mass media because of its rapid development and global capturing of different markets. For example, many see blockchain technology either as an all-purpose weapon— which only a few have access to—or as a hacker technology for secret deals in the darknet. The innovation of blockchain technology is found in its successful combination of already existing approaches: such as decentralized networks, cryptography, and consensus models. This innovative concept makes it possible to exchange values in a decentralized system. At the same time, there is no requirement for trust between its nodes (e.g. users). With this study the Hasso Plattner Institute would like to help readers form their own opinion about blockchain technology, and to distinguish between truly innovative properties and hype. The authors of the present study analyze the positive and negative properties of the blockchain architecture and suggest possible solutions, which can contribute to the efficient use of the technology. We recommend that every company define a clear target for the intended application, which is achievable with a reasonable cost-benefit ration, before deciding on this technology. Both the possibilities and the limitations of blockchain technology need to be considered. The relevant steps that must be taken in this respect are summarized /summed up for the reader in this study. Furthermore, this study elaborates on urgent problems such as the scalability of the blockchain, appropriate consensus algorithm and security, including various types of possible attacks and their countermeasures. New blockchains, for example, run the risk of reducing security, as changes to existing technology can lead to lacks in the security and failures. After discussing the innovative properties and problems of the blockchain technology, its implementation is discussed. There are a lot of implementation opportunities for companies available who are interested in the blockchain realization. The numerous applications have either their own blockchain as a basis or use existing and widespread blockchain systems. Various consortia and projects offer "blockchain-as-a-service{\"a}nd help other companies to develop, test and deploy their own applications. This study gives a detailed overview of diverse relevant applications and projects in the field of blockchain technology. As this technology is still a relatively young and fast developing approach, it still lacks uniform standards to allow the cooperation of different systems and to which all developers can adhere. Currently, developers are orienting themselves to Bitcoin, Ethereum and Hyperledger systems, which serve as the basis for many other blockchain applications. The goal is to give readers a clear and comprehensive overview of blockchain technology and its capabilities.},
  language  = {en}
}